Well, I do know remittances and other forms of cross-border payments are a use case and that’s lovely, but that’s not why Bitcoin is at $60,000. It’s at $60,000 because Americans gamble on it.
> Any actual utility imagined for cryptocurrency has yet to materialize in any significant quantity
Is false, to the tune of billions in remittances per year. Normally when the number starts with a B we do consider that market significant.
> It’s at $60,000 because Americans gamble on it.
It's at $60,000 because speculative investors are taking a position on its future value being higher than its present value. You don't agree with that position and that's fine. To me, that position seems rational, looking at past performance, and considering the odds that the sort of financial instability which makes Bitcoin useful for remittances will increase over time. Clearly if you don't see it that way, you speculate on some other investment vehicle. Stocks perhaps.
It's odd to take a look at a 15 year old growth curve which consistently pumps more than it dumps and call it a pump-and-dump scheme. But you do you.
