A solid criticism of Buttcoin is that it is an asset with no or minimal intrinsic value, i.e. it’s just a small bunch of data that incurs costs to keep. Essentially being valued at what people are willing to pay for it. Tulips are perhaps the most famous example of such an asset, but are there others?
I was thinking trading cards, art etc, but have now got myself a bit confused that we can collectively decide a trading card is worth $100,000 and seems to retain value over time, whilst it sounds ridiculous to think of some data on a blockchain having similar value. Help!
