So what back twitter? If everybody wants to sell their tweeter stock, what would be the value of a tweeter stock?
I wrote on page 1:
4. ... This is why ponzi schemes are so incredibly evil and dangerous. This is different from a stock, because a stock has intrinsic value to due earnings, profit, cash-on-hand, talent of management, talent of employees, contracts, etc..
Tweeter as more debt than asset then would the value be 0 as your exemple sugest? Clearly not. A tweeter bond would have NO value as if nobody sells, nobody buys!
Would tweeter stop to be if nobody was
Willing to buy a tweeter bond? No idea, maybe
Investors see value in their existing software. That have a huge codebase already.
Their huge userbase which can be marketed to, because Twitter is not decentralized. You can't market to Bitcoin users from the public ledger.
Etc..
No way for Bitcoin to generate an income. It must be a currency, else it has no intrinsic value.
You assume that Bitcoins are actually/ will be mined to be spent.
One would argue by recent hoarding by Chinese, Bitcoins will end up more like a digital gold, a wealth hoarder, a finite supply yet ability to transact at low cost, so with built in benefits.
Gold has no intrinsic value either per se, it is not valued by how much electricity it conducts, however for something to have intrinsic value, it needs to carry moral value first, imo.
You could argue the mere fact the bitcoin has no interference from the Government (at this stage) that it morally has substance, therefore it does have intrinsic value to the current holder/hoarder.