Most of the value of gold is not due to those properties. Yet even for those properties, if you look close enough, it is shared hallucinations all the way down.
I think you'll also have a hard time explaining how "good conductivity" is fundamentally different from e.g. "resistance to tampering of historical records".
Re:Bitcoin is a Ponzi
by randomswede on Sunday October 17, 2021 @05:56AM
(#28895234)
Bitcoin is only resistant to tampering of historical records if you have a continuous expenditure of compute to maintain that tamper-proofness.
In the absence of substantial compute resources dedicated to maintaining the longest fork, there is in principle nothing stopping anyone from changing a historic blok and rolling forwards from that.
The good conductivity is a base physical property, not really requiring any external investment of anything to be maintained.
Likewise a whole slew of physical goods, who have built-in traits due to what they are that make them (on some level) valuable.
Bitcoin only has value due to a shared hallucination.