On the contrary, the current crypto space resembles a classic speculative bubble right now, it's a perfect example of mania, and spurious justifications like th

On the contrary, the current crypto space resembles a classic speculative bubble right now, it's a perfect example of mania, and spurious justifications like this of a new paradigm which explains the crazy valuations are also classic signs of that. Hardly anyone is using these currencies to actually perform transactions or store value because they are awful in so many ways for that (volatility, treated and taxed like an asset, unpredictable fees, slow settlement, no fraud protection etc). All the transactions, all the new accounts flooding into exchanges are there for one reason - to strike it rich in the new gold rush. Coins intended to be a valueless joke are worth SIX BILLION DOLLARS and nobody is actually using them as a currency or a consensus mechanism or anything useful - this is pure speculation on finding a greater fool later on when you want to sell, if you're even thinking about later on, because perhaps this will never end and it's different this time. People are buying and selling cryptocurrencies as they did beanie babies or tulips... https://theweek.com/articles/461977/great-beanie-baby-bubble https://theweek.com/articles/461977/great-beanie-baby-bubble