Originally Posted by The Batlord

1. It's not money. It's a tradable security like a stock. Whatever small use cases of this or that store taking Bitcoin, on any meaningful scale it is not money.

2. As essentially a stock it has no value added to it by people buying cars or toasters or Netflix subscriptions, only people buying into it as an investment, which is circular reasoning since if the only money being put into it is so that money can be taken out of it, it can only function either as currency (which due to its volatility it does not) or as a ponzi scheme where most of the people who pay into it receive nothing so that the few whales who do get paid get more than they put into it.

Why would I have any faith that anyone would put any money into a rugpull that's already been pulled? I'd be buying something with all its value already removed in the vain hope other people would be dumb enough to do the same, when they could just as easily invest in a brand new rugpull without the stink of failure on it.