Interesting point!

I think he was pretty clear in the sense that Bitcoins lack intrinsic value:

If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.

Rather that the 'value' would gathered from some means of utilization, and by virtue of there being any value whatsoever, coupled with limited supply.

Once there is pre-determined 'value', in the sense that someone is willing to pay money for some of it, it would cause a chain effect bouncing back and forth and the price is driven up.

Which he was right.

Thanks for dropping by! What are your thoughts on this type of long form content for Steemit? I really enjoyed writing this piece and would like to do more, obviously only if there is demand.