The best way to create a theory is to make observations and work from there.
Reality: Bitcoins is a cryptocurrency that is currently being used to facilitate trade.
It doesn’t matter whether you like it, or I like it, that is a fact of life. You can purchase bitcoins, transfer them to someone in Kentucky, and that person could mail you a copy of Common Sense.
Because of this observation we can rule out some blanket statements:
-Only physical objects can be a currency.
-Bitcoins have no value.
-Bitcoins can not store value.
-All currency must be able to trace its value back to a valued physical good.
Any theory that espouses any of the previous ideas is FALSE. That’s the beauty of theories; They can be tested against reality.
Your theory, Dave, has been tested, and it’s wrong. You and anyone else can argue until your blue in the face; it will never ever change the facts.
The only real argument left is to find out not whether but why your theory is wrong. (HINT: It’s wrong because Bitcoins are not a fiat currency.)
And welcome back to the discussion! I was starting to miss you.