To the OP, did the CFA course not explain basic economics? The value of something is explicitly derived from two very important inputs, supply and demand.

As noted in most of the criticism here, there is value if there is a demand for bitcoin. The supply is fixed, which provides a more stable approach to storing value. Were you around when the first USD was issued? If not I suggest you go do a little research on it.

If bitcoin or any crypto eventually gets to mainstream, which I believe will happen, then merchants will begin to accept it and at that moment will realize the true value of the crypto at that moment.

Will it be bitcoin? Probably not. I do however can see a new crypto that is regulated through an international monetary org such as the IMF, begin to play out.

Wouldn’t you be interested in that? Think about it, you will no longer need to worry about your government politics and it’s effect on your local currency. Instead of converting local currency into foreign currency, products will all cost the same amount of bitcoin/crypto, no matter where you are.

It is disruption, and this post about bitcoin being a “Ponzi scheme” just shows an ignorance of economics.