The Crypto bubble, page-29

It's a bubble. Cryptocurrency, as a whole, have extremely limited real world use and are abundant due to the ability to create new bitcoin clones infinitely and cheaply. Anything that is abundant and mostly useless has little intrinsic value. There are some exceptions like Ethereum, which may have value due to its real world applications.

The only reason why crypto has reached the peaks it has is because people see what they want to see in these coins. They say, "It's decentralised. It doesn't rely on any 3rd party institutions. It can't be seized by government. It's a secure, fast and cheap way to transfer value to someone else. It's limited and finite in supply." Well, you could say all these things for the limited edition, generation 0 CryptoKitties - yet they are for all intents and purposes, worthless, with few buyers and lots of sellers. No real world use = no value. I think the CryptoKitty marketplace is what the larger crypto market might look like after the bubble bursts. The CryptoKitty market place has over 100,000 Kitties listed for sale. But only around 500 sales are taking place per day (and at rock bottom prices)