> The fact that GOOG doesn't pay dividends is not important or meaningful. I actually agree with you here. The thing is, the fact that Bitcoin or Ethereum does

> The fact that GOOG doesn't pay dividends is not important or meaningful. I actually agree with you here. The thing is, the fact that Bitcoin or Ethereum doesn't have "intrinsic value" is not important or meaningful either. Obviously GOOG is valuable and obviously BTC is valuable, and obviously ETH is valuable, but in both cases you can play semantic games to toss around economic terms like "greater fool theory", without understanding where the fundamental value actually emerges from, to pretend like they're worthless. If you actually follow the activity around Bitcoin and Ethereum, the idea that these coins are suddenly going to drop to $0 and nobody will want one is about as absurd as that happening to GOOG.