Challenge anyone to justify why gold or gems inherently deserve more value than memecoins. If value hinges on societal consensus, both are equally arbitrary and valid.

Replace power with value and this quote still works…

There‘s not thousands of new golds created every day. You‘re 100% right about consensus, but if that shifts daily (or faster) we‘re in trouble (and haste)

The main reason would probably be the physical effort and cost of digging that stuff out of the ground, refining it, transporting it, etc.

Everything is tied to authenticity. We use onions in most of our meals every day. When I was a kid, for a while, onions became very scarce and expensive in my country, even more expensive than bananas, which were a rare fruit at the time. Still, sellers continued to store bananas in the special section for expensive fruits. They didn’t replace them with onions, nor did they place the onions next to the bananas.