I'm not sure if this means gold isn't powered by memes or whether it's just one of the most long lived memes of all time. Aside from other nice properties like lasting a long time, being pretty, and not requiring electricity to exist.

What you are describing applies to all forms of money. It has value because people believe other people will use it as money. If that belief drops, the value drops.

People comment on gold and Bitcoin, but don't realize the same principles apply to US dollars and bonds.

I was once told bitcoin was a 'pet rock'. Thing is people pay a lot of money for rocks when they have no planned industrial activity for them. Diamonds, for instance.

I think you are spot on. The problem comes if SpaceX goes out of fashion, not its fundamentals.

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