>A theory fully embraced by every con artist --- and crypto fan.

There are some BTC maximalists who demand that the energy consumption of BTC and the sunk costs give it value. This is the input cost theory of value which is distinctly different. Similar to the labor theory of value.

I'm sure the title to a the Golden Gate Bridge is at least worth the paper it is printed on. Perhaps if there is significant novelty value, someone may buy it for those benefits alone. It is impossible to say how individuals would value it, but again false and fraudulent claims are a distinct and separate matter. Attempting to conflate the issue is somewhat dishonest in itself.