> and not backed by anything permanent like a government I agree with the overall point, but I'd add that the difference is the degree of permanence. Not all

> and not backed by anything permanent like a government I agree with the overall point, but I'd add that the difference is the degree of permanence. Not all governments are so permanent, and some are arguably less permanent at the moment than the big crypto schemes. In addition, let's not forget for many of the original BTC enthusiasts, the purpose of BTC wasn't for it to be an asset class, but rather: - A direct challenge to the dominance and reserve currency status of USD and the government and agencies that back it. - A medium of exchange that the US government could not control. These anarcho-capitalist goals have been greatly diminished as BTC becomes more of a regular asset class. Anecdotally, I've heard many small scale investors (portfolios in the 5-10 million range) who are happy about these changes in BTC.