Definitely in the mania phase, but I don't think it's that far progressed yet. And you're completely right, everyone I've spoken to who is invested in it is not finance savvy in the slightest, nor have they ever even invested in stocks. But somehow delusional that this is anything more than wild speculation.
Every argument I've heard "for" is weak and easily countered (in terms of crypto becoming the global currency). And the fact remains that no one is actually using crypto to buy anything. Notwithstanding the tech is still unrefined and slow.
It's just a feeding frenzy.
In the words of Buffett: "it's not going to end well".
