I was recently speaking with a Bitcoiner who openly admitted that Bitcoin has failed as a payment system, an inflation hedge, a store of value, and an investment. Yet they still insisted Bitcoin actually still has something that makes it so valuable, just not in any of those things. According to them, its real value comes from the energy used to create it. Yes, you read that right. That might be the most brain-dead argument I’ve ever heard so far. We can burn fuel to produce smoke. Does that give the smoke “intrinsic” value? Should we start selling jars of it? The sheer lack of critical thinking coming from the Bitcoin maxi crowd at this point is genuinely concerning.(Jacob King)