Is this person still engaged and steadfast in their belief that Bitcoin holds no value? Seriously?
Says who? Who is the sole arbitrator of the term "asset"?
Unit of debt is fiat currency, and unit of fiat currency is what? Debt?
There is no tangible asset, commodity, or physical currency known as the "US dollar". Its value relies solely on faith. Nevertheless, it holds a certain value, albeit one that may go unnoticed by many.
Resources or assets have value. And assets either exist or they don't. Debt behind fiat currencies factually exists - every unit of fiat currency is issued as loan or bond. Debt is both liability and asset because the fulfilment of liability by one side is benefit to the other. So, faith has nothing to do with assets. In the Bitcoin system there's no resource or asset so there's nothing to assign value to. It is indeed like play money for kids. You create units by declaration, represent them with numbers on a medium and then exchange. The same is with monopoly money. Spending enormous amounts of energy on this is crazy. Paying $70K for such a unit is even crazier.You must name what actual resource is held by a unit.
Says who? Who is the sole arbitrator of the term "asset"?
For instance: unit of gold, unit of debt(fiat money)
Unit of debt is fiat currency, and unit of fiat currency is what? Debt?
No actual asset, commodity or money exists under the name ABC.
There is no tangible asset, commodity, or physical currency known as the "US dollar". Its value relies solely on faith. Nevertheless, it holds a certain value, albeit one that may go unnoticed by many.