You are of course correct. The fact that the value of something is speculated upon is normal....indeed good. Markets are the only way to establish value in a free society. The concern here is that most of the players in the system ...the individuals who create the market forces in cryptocurrency trading have no valid way of assessing value....or future utility. If I buy a stock I can look at the company’s earnings and guess what the firm’s outlook will be going forward. Most people in a very basic way can grasp the way a bank makes its money or whether a manufacturer’s products are likely to be in demand. Only a few people have the understanding you do of cryptocurrency. You seem like a nice fellow, but I have no idea if you are right or completely out of it with regard to cryptocurrency. When you talk about the weather, socialism, or markets I can evaluate what you say. I have enough knowledge and background to agree or contest what you say. As I have written before: Even if Bitcoin is a total success and frees us from the tyranny of government-controlled money supply we have no idea what the value of the stuff will be. For all I know a Bitcoin will be worth £14.56 in 2023.
I have no idea. Sadly , I am not sure you do either.
I do enjoy your videos