I watched that final video and his argument essentially boils down to “bitcoin has value because people use it”, and by use it, he has to mean “are in its block chain” because it’s not all that readily used as an actual currency.
I get that it has some uses like to send money overseas, or to buy things illegally, or launder money, and maybe that sort of “evade official channels” usage is enough to sustain its value. But that argument is somewhat circular.
I.e it has value because it has demand, it has demand because people use it, and people use it because it has value. It’s that sort of weak logic that makes me highly skeptical of crypto currency in general.
But there are people like Jamie Dimon who say it’s a bubble.
