I never understood why Proof of Work (or Proof of Stake, Transaction, Importance...) should make a crypto a commodity money. There is NO intrisic use of cryptocurrency tokens - even the most "
intrinisically useful cryptos" (Primecoin and Riecoin) are still far from commodity money. So, if Proof of Work is not asset-based (commodity), then it is fiat. Period.
Tell that to the miners that invested small fortunes in mining equipment that their PoW is not asset based. That's like that song "
Money for Nothing" by Dire Straits. Just because you don't understand how it works only makes you sound foolish.