Quote from: vjudeu on Today at 09:32:01 AM

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Btw, coins, that is log entries, are free to download. Thus, all of them are worthless.

In the same way, stocks can be downloaded, and you can see on many exchanges, that "someone bought X" or "someone sold Y". Are stocks worthless, because of that?

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But it has enormous negative value because it wastes a lot of energy on a useless job

1. Traditional banking wastes more: https://bitcoincleanup.com/
2. If solving math problems are wasteful, then why mathematicians are trying to compute a lot of digits of pi? Or trying to find huge prime numbers? Is all of that just a waste of time and resources?
3. Banks also use some cryptography. Does it mean, that they are also wasting resources?

It seems you have problems understanding what value is. Value is that benefit described in the OP. In other words, it is the expected benefit that a resource can provide in the future to owners. In stocks that resource is capital and profits of a company. So if stocks have a positive equity and produce profits they are valuable. We can argue how big that value is but that doesn't change the fact of its existence.

With cryptocurrencies however, no resource exists that can provide benefit to cryptocurrency owners. So there's no value that you can talk about. Only a log exists that crypo owners can update via wallet applications. And that log can be downloaded for free by anyone.