Quote from: PSCQQSCQQP on August 30, 2022, 11:02:47 PM

Keeping in mind the most important factor, without gold and silver, all electronic equipment wouldn't exist = bitcoin would not exist. Computers, phones, tv's, etc ALL require silver and gold to be manufactured.

The value of gold and silver wouldn't exist, or at least wouldn't matter, if there were no humans reasoning about what to consider valuable. To put it another way, value is always a matter of subjective thinking of every single individual. Bitcoin has certain credible characteristics because some individuals decided it is worth mining it and holding, and vice versa, some individuals think it is valuable because it has those credible characteristics. It is the self-reinforcing positive feedback loop that influences the minds of all people: those who already understood bitcoin's value proposition and those who aren't yet. In my subjective opinion, bitcoin is a store of value because its monetary properties meet the definition of "good" money, but also, which is more important, historical data clearly shows that it behaves like a good store of value. This opinion is based on observable facts, not feelings or beliefs, and for these reasons, many rational economic actors also consider bitcoin a reliable store of value. Bitcoin being a store of wealth is not a shared illusion, it is a logical conclusion from all factors related to bitcoin.