I wonder if comments like this are representative of the average crypto buyer. "The value of real commodities used in daily productive activity, is also entirely made up".
But it is entirely made up, it entirely depends on someone buying the oil and the price they are willing to pay. The fact that there is in principle a use for oil does not mean that there is a buyer, especially since oil is not truly fungible in that it has storage and transit costs. As an example, oil famously via future contracts traded at negative $37 during the covid crisis, meaning that you would have to pay someone to take oil off your hands.
The fact that it is used in daily productive activity might be an argument that oil should in theory have a > 0 price, however the actual price is still made up by a market! There is still not a way to say that the intrinsic value of oil must be X dollars.
