I find this to be the most common critique of bitcoin. It’s what Warren Buffet and Elizebeth Warren say about bitcoin.
Technically they’re right that we hope to sell it at a higher price than we bought it, and it doesn’t have inflows or backed by any physical asset.
Then again any stock or commodity or any investment involves buying to sell at a higher price. Bitcoin just doesn’t have any inflows or physicality.
I think what they’re missing is that it’s a safe way to self custody money, censorship resistant transactions, cross boarder convenience, and what’s most hard to imagine currently that every bitcoiner hopes for, a store of value.
How do you all respond to this criticism?
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