Why does it need to be pumped up? Is that what crypto trading is all about?
I am considering dipping my toe in the water but not just yet. I still struggle to invest in something that has no underlying value. One hears about the Bitcoin billionaires but not much about the many people who must be in the red.
So here goes; some do seem to have some underlying value eg Etherium and maybe Stellar and perhaps a few others. Given the ever increasing number of cryptocurrencies on the market, it would seem that those with no niche or underlying value will fail. Even Bitcoin seems to have no underlying value. Maybe I just do not understand. Perhaps as a modestly successful 68 yr old investor who has been trading for almost 40 years and have weathered a few storms, I am out of touch with the value of appearances. When I buy shares in a company, there is some underlying value. Yes, the stock may be wildly overvalued but there is usually something. In contrast, anyone with the technical nous can create a cryptocurrency and it will have value when one can convince people to use/buy it but it remains with no inherent value.
So why am I dipping my toe in the water? The technology, in so far as I can understand it has real value, and Etherium seems to be being used in a variety of ways that create value. In my diverse portfolio it would seem desirable to have have an eye to the future and this is a part of the future, I just can't see exactly where.
