Take all the people that are currently holding bitcoin and spend the electricity to mine it and assume that from now on no person enters the system by investing funds.
funny part is
take all the people that are holding bank notes and spend time working to get banknotes and assume that from now on no person enters fiat by buying bank notes.
well then people are now holding colourful toilet paper (zimbabwe dollar)
..
here is the thing though.
before people had a market place to "invest" in bitcoin. people were using bitcoin.
mining happened for 2 years before there was a proper investment market.
people were sharing coin with each other. and using it.
heck. if you just let a few people want to use it for spending. people will. Laszlo in 2010 got pizza for bitcoin, yep before there was an "investment" exchange way of getting bitcoin, people found value in it and utility.
alpaca socks, bitcoin cupcakes.
in the first month of january there were a few people mining, buy mid 2009 there were a few dozen buy the end of 2009 there were many many dozens of people mining and using it.
so if you think that bitcoin is just "investing" to hold. your again ignoring the utility
You are wrong, agan. If we take all the people that are holding bank notes and spend time working to get banknotes and assume that from now on no new investor enters the system, borrowers, wich are part of the system, wold simply return the holder the things they can live off of. In the bitcoin system such things can be brought only by now investors. So, without them, all you have is miners spending ton of electricity for a primitive email system where people send each other numbers.