I don't disagree, but it's also amazingly reproducible, just wait and see. There's always network effect and hashpower but that's much easier to reproduce (and less important) with a technological asset than with a monetary one. That was all I was pointing out.

Of all the "alt-coins" that have appeared since bitcoin, none of them accrued value based on technology. They were mostly way more advanced technologically than bitcoin as well in all kinds of ways. All I'm saying is that this aspect of the valuation is way under-discussed and under appreciated. I think most people investing just think it's another crypto thats doing a monetary job like bitcoin when in fact it isn't and the value will come from a different source.

The question is, what is that source and how do you value it objectively ?