Look, I get that argument. But, it's worth expanding passed the ostensible case. The ledger of Bitcoin *does* have inherent value. Maybe it doesn't seem to, because no one is using it that way. But, as a securities ledger or track of ownership, those *books*, if you will, have inherent value, as data record of ownership-- or, once they start getting used, they will.
True. But I think that is weakly liked to the price. Which is why I used the word "trivially". Bitcoin's price is almost pure demand. It's almost Platonic in its nature.
