Such that a currency created and traded only on a blockchain is trustworthy because everything is traceable on the chain. A bit like software without IO being quite easy to reason about.
But the moment we get externally created data (sensor readings etc), we need to trust the source.
There is no such thing. The ledger number does not come with any other warranty than amount of PC time used to compute it. It does not guarantee value, it does bot guarantee your transaction has fully proceeded, only that a specific amount of other number has been transferred.
For the longest time I thought “when they crack the encryption, BTC will instantly turn to value-less dust” and so therefore thought it was limited to being of short-term use BUT the technology does not matter in a sense. Because the chain of ownership is clear and transparent, BTC (and other blockchains) could switch technology in an instant and still maintain the record of value.
Through this lens, I’m not at all concerned about bugs or forks because we’ve reached a point where the majority of the network is focused on the absolute correctness of the ledger. Everything else might as well be a mosquito on the highway.
To me, that is the intrinsic value. Not it’s use as a bank-free currency, or it’s ability to run smart contracts (though I think those could permanently change copyright for the better), but because we can have an undeniable and uncorrupted chain of custody.