As I start this thread bitcoin is trading at $17400. Wow! Wish I owned some. I don’t really understand where the value is other than supply and demand. I know it takes a tremendous amount of energy and computer power to mine one. I understand why gold has value: it has ben a storage of value forever and it has industrial usage. I understand why stocks has value: the stock represents a claim on its assets and future positive cash flow. What makes bitcoin any better than Beanie Babies (if you are old enough to rember that craze)?