You are of course correct. But Bitcoin is a fiat currency that exists without a state. That is rather (nearly) unprecedented. All other decentralized money had

You are of course correct. But Bitcoin is a fiat currency that exists without a state. That is rather (nearly) unprecedented. All other decentralized money had demand other than for its currency purposes. Cigs in jail are in demand so they became a way to store value. Bitcoin is the opposite. It has value because people are saying it's a currency. But it's monopoly money.