> For crypto to have value, someone else needs to pay Dollar/Euro/whatever at an exchange. That's the value of crypto - the exchange rate.
This is true for every economic good, including paintings. Whether the value is "inherent" or not is irrelevant, you need a transaction or the value is just theory. Culture could also forget about the significance of the Mona Lisa, it has happened before, see for example https://en.wikipedia.org/wiki/Archimedes_Palimpsest, a mathematical text that our culture considers having very high value, but was overwritten into a prayer book by a culture that considered the work less valuable than the material it was written on.
This is true for every economic good, including paintings. Whether the value is "inherent" or not is irrelevant, you need a transaction or the value is just theory. Culture could also forget about the significance of the Mona Lisa, it has happened before, see for example https://en.wikipedia.org/wiki/Archimedes_Palimpsest, a mathematical text that our culture considers having very high value, but was overwritten into a prayer book by a culture that considered the work less valuable than the material it was written on.