What we need to be asking ourselves is what inherit value is backing bitcoin. Which sovereign nation, as we know, none nada zip, only hope. So, you have something that some people perceive is valued but no gold reserves or anything attached to it. It reminds me of the days when people were investing in beanie babies. Same exact scenario, limited production, perceived as valuable until they were not. I actually know people who invested retirement money in these things. So at the end of the day, people have to believe it is valuable and continue that hope, with no real assets backing it.

I know we can say the same about US currency as well as other nation's currencies, but at least in those scenarios, you have the backing of those nations and in this scenario, you have santoshi. Isn't there also another huge tranche of bitcoin that is sitting unreleased and not this last 2 million coins? I am just concerned that it really seems like a MLM scheme and someone is going to be left holding the bag.