Dead Comment
It's very interesting when there is ZERO internet or any other form of external communication. In hind-sight I'd say it was an interesting short simulation for the zombie apocalypse.
The value is purely a function of speculative demand. And while previously people anticipated the demand would go up "organically" because of actual real-world usage, you know to pay for stuff and such, that hasn't really materialized in the way we hoped. How many actually use BTC for things like that? At its BEST it has usage to purchase other coins - but that's about it.
It is digital gold, but with seemingly less IRL usage. When I started with BTC 12 years ago, the community was really optimistic on the potential use cases - but mostly the aspect of it replacing expensive wire transfers, potential for being a digital currency you could use in your daily life.
After each hype cycle that belief diminished, and it became more apparent that people only buy it to get richer by the means of speculation.
The days of BTC 1000x'ing are long gone. Even if 1 BTC is to go for $1MM, that's "only" a 21.5x increase, and it would mean that BTC alone has a 21 trillion cap. That's half of the entire S&P500 market cap. And you'd still have a slew of other safe coins that competes against BTC for the same money.
So, my point is: While BTC is still the king of crypto, it lives in a financial market that is mostly driven by speculation and expectations of huge returns. The very same investors can earn a lot more by gambling on "lesser" coins.
There's still money to be made, but that boils down to people buying and selling between the various boom and bust cycles. We're 15 years into this now.
I'm surprised this comment still shows up. The intrinsic value is literally all of the energy spent ensuring the validity of the blockchain via expensive PoW. If you want to point at something with no intrinsic value, look to the fiats.
https://crsreports.congress.gov/product/pdf/IF/IF12040
• 39 High Mobility Artillery Rocket Systems (HIMARS);
• 12 National Advanced Surface-to-Air Missile Systems (NASAMS); 1 Patriot air defense battery; other air defense systems; and 21 air surveillance radars;
• 31 Abrams tanks, 45 T-72B tanks and 186 Bradley infantry fighting vehicles;
• 300 M113 and 189 Stryker Armored Personnel Carriers;
• 2,000+ Stinger anti-aircraft missiles;
• 10,000+ Javelin and 90,000+ other anti-armor systems;
• Phoenix Ghost, Switchblade, and other UAS;
• 198 155 mm and 72 105 mm Howitzers and artillery;
• 227 mortar systems;
• Remote Anti-Armor Mine (RAAM) Systems;
• 9,000+ Tube-Launched, Optically-Tracked, Wire- Guided (TOW) missiles;
• High-speed anti-radiation missiles (HARMs) and laser- guided rocket systems;
• 35,000+ grenade launchers and small arms;
• communications, radar, and intelligence equipment; and
• training, maintenance, and sustainment.
(What's NOT on that list? Aircraft. What's the US doctrine way of winning a war, such as OIF? Air power.)
Edit: Do you think no aircraft because they'd have to use US trained pilots?
1) Being able to rapidly sequence the genomes of cancer cells to detect common mutations
2) Computationally simulating those mutations to look for viable T-cell targets
3) Custom building T-cell receptor proteins [0] capable of recognizing those targets
4) Inserting those custom receptor proteins into the patients' own T-cells with CRISPR
Truly, we're living in the days of future medicine...
Do you know of any journal articles that cover step 3? I'm very interested in how this whole process works and can't seem to find much (paywalled at Nature for this one.)