None of (pokemon/baseball cards/pet rocks) have all of (fungible, non-produceable/counterfeitable). I see bitcoin as quite different from these, at a fundamental level.
Bitcoin is closer to gold. After all, gold's intrinsic value is negligible in the face of its market price since:
"[gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” - Warren Buffet.
Comments
None of (pokemon/baseball cards/pet rocks) have all of (fungible, non-produceable/counterfeitable). I see bitcoin as quite different from these, at a fundamental level.
Bitcoin is closer to gold. After all, gold's intrinsic value is negligible in the face of its market price since:
"[gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.” - Warren Buffet.