The lack of understanding continues right up to the eve of Ethereum's planned release. No comprehension of the ledger, still thinking in terms of "tokens" and "blockchain tech is the important thing, not the money."
I think part of the reason this view exists is most people do not properly understand scarcity or what scarcity truly means, largely because western society has not experienced scarcity for several generations. If you do not understand scarcity it is easy to brush off the value of BTC and focus on the Blockchain because it is scarcity that gives BTC value.
Since the FED was created there has been no scarcity for money and this coincided with both an energy and a technology boom which resulted in an abundance of energy, materials, steel, plastics, goods, etc. We have lived in an age of utter abundance for generations. With that has come a cavalier attitude toward money and basic goods, most people assume these things will always be there. (Yes we have inequality and people who lack access to both food and money, but because of the central bank printer governments can fund a large safety net, no one really worries that they will starve because food stamps and disability will kick in).
Few today really understand how scarce goods behave, because there are very few truly scarce goods today. Land is another example of a scarce good, but I'm not sure what else is today.
Bitcoin however is the perfect example of a scarce good. The last bubble started at the same time as ASIC mining took off, which meant that for a while most mined coins were held and not sold. The result was a price spike that no one could stop. That is increasing demand against a scarce good.
