Serious question regarding speculation.

[Jrmjrmjrm]

After today's crash i have realised a majority of the people investing in cryptos are trying to get rich and are not involved because they believe in the technology.

So my question is. How are most cryptos anything other than pure speculation?

Things like bitcoin(store of wealth), Etherum/Eos(Dapp) actually have legit purposes but what about the currency transfer ones such as Dash/litecoin ect. How does the price of those cryptos have anything to do me sending money to someone around the world? I could still do it if dash was worth $1 each?

I'm quite heavily invested in this market and I'm still holding because I can see a bright future in some cryptos but I'm honestly questioning myself about a lot of the ones I have money in.

Can anyone explain to me in detail how most of these cryptos are worth the money people are paying for them? I understand some cryptos will burn their coins away as they're using meaning over time the supply will decrease which will increase the price but other than that I don't see how they're anything other than speculation.

I really hope someone can at least link me a site with a good explanation.

Thanks

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[zikabra]

Most shitcoins don't have any kind of value and they are mostly used for pump and dump scheme and as you said most people, unfortunately, are investing in crypto because they believe they will become rich over night. That is why we have this kind of crashes, honestly most people don't understand what crypto is.
On side note you should really delete your second post "bump" because it is violation of forum rules "no bump within 24 hours". People will discuss here, don't you worry about that.

[Zendalet]

Why are you even bumping this? It's a trite question asked and answered thousands of times a day.

Instead of asking the same question "What is the value of Bitcoin" over and over again, look around you and ask yourself: what is the value of every object around you?

What is value of Apple?
What is value of Facebook?
What is the value of Google?
What is the value of Coca Cola?
What is the value of MacDonalds?
What is the value of JPMorgan Chase?

Are those things essential to human survival? Or just nice-to-haves?

[Jrmjrmjrm]

Mate I'm not asking about bitcoin I'm asking about all of them. Clearly people see bitcoin as a store of wealth. I'm asking how every other crypto has value outside of speculation because whenever I ask this no one is able to give me a legitimate answer.

[Jrmjrmjrm]

Why are you even bumping this? It's a trite question asked and answered thousands of times a day.

Instead of asking the same question "What is the value of Bitcoin" over and over again, look around you and ask yourself: what is the value of every object around you?

What is value of Apple?
What is value of Facebook?
What is the value of Google?
What is the value of Coca Cola?
What is the value of MacDonalds?
What is the value of JPMorgan Chase?

Are those things essential to human survival? Or just nice-to-haves?

These companies have worth because they make income through the selling of product or through advertisements. If you actually read my question I was asking how something like dash or litecoin is worth multiple hundreds of dollars when really you'd be able to use these services if they were worth $1 each.

[Zendalet]

Same thing. People value altcoins just like they value Bitcoin, a bank account, an iPhone, a hamburger or a glass of Coca Cola.

You are giving the answer yourself. "People see bitcoin as a store of wealth". It's not a universal truth, it's a perception.

But it's clear you aren't looking for an answer, but just complaining.

[Jrmjrmjrm]

Same thing. People value altcoins just like they value Bitcoin, a bank account, an iPhone, a hamburger or a glass of Coca Cola.

You are giving the answer yourself. "People see bitcoin as a store of wealth". It's not a universal truth, it's a perception.

But it's clear you aren't looking for an answer, but just complaining.

You are retarded if you can't see the question I'm asking you keep reverting back to bitcoin when I'm talking about every other crypto tech.

"People value them" is basically saying it's all speculation and there's no real value other than that behind them.

[ghonkz]

Yeah we all just want profit, i cant argue with that cause me my self not fully understand how blockchain work. But im still interested in it and want to get involve. Your question about how its have value or smh, its because people believe in it thats all this crypto have something to do in real live. For improving economy system for example

[poGium]

Most want to make profit, too. What's wrong with this? I see it as an investment. When I invest in something, I also want to skim off my winnings. Just like everyone. But of course I am also very interested in the technique of blockchain. I am fascinated by the technology behind it, even if it is very difficult to understand.

[Jrmjrmjrm]

Most want to make profit, too. What's wrong with this? I see it as an investment. When I invest in something, I also want to skim off my winnings. Just like everyone. But of course I am also very interested in the technique of blockchain. I am fascinated by the technology behind it, even if it is very difficult to understand.

There's nothing wrong with trying to make a profit in this I'm just wondering about the survival of most cryptos if the majority of the investors are simply trying to make a quick buck.

[Bambangs]

most people do not understand or understand the world of crypto, what they want is to get rich in a few hours, it may happen, but when its market value goes down, surely the person will cry out if not mentally strong.

[Victor Beckham]

Most of people who invest in crypto care only about the profit. But the projects are build by people and teams who care about the technology mostly.
Most people who own HP stocks don't know how exactly is the printer working, but this does not make HP pure speculation. Is any stock listed corporation a pure speculation?

[rjefferson]

I personally believe in the tech. Found out about a project called IoT Chain (ITC) that covers security for IoT. Big project with a huge practical application.  https://iotchain.io/

[poGium]

Most want to make profit, too. What's wrong with this? I see it as an investment. When I invest in something, I also want to skim off my winnings. Just like everyone. But of course I am also very interested in the technique of blockchain. I am fascinated by the technology behind it, even if it is very difficult to understand.

There's nothing wrong with trying to make a profit in this I'm just wondering about the survival of most cryptos if the majority of the investors are simply trying to make a quick buck.

I have also asked myself this question many times.

I think that coins that are not kept and are always sold, eventually dissolve themselves or are no longer used.

[patt0]

I don't think anyone can give you straight answer to that question. You are completely right, most coins will not have a future, and are just speculation assets. Some of those are probably more advance than bitcoin right now, because they are going for the short term, or simply because they don't have so much users in their network, so of course they don't have scalability problems right now. The thing is, that bitcoin is by far the most secure coin, because it has the biggest hash rate, and other coins cant compete with that. It also has more devs working on it, so bitcoin will continue being the "strongest blockchain" out there, and only if a coin gets super evolved when compared to bitcoin will have a chance to overtake it. The thing is, this is not likely to happen, because like I said before, bitcoin has a much better and bigger team of devs working on it.

It's the same thing for ethereum, so right now, I only see bitcoin and ethereum really surviving in the long term.

[pooque]

After today's crash i have realised a majority of the people investing in cryptos are trying to get rich and are not involved because they believe in the technology.

So my question is. How are most cryptos anything other than pure speculation?

Things like bitcoin(store of wealth), Etherum/Eos(Dapp) actually have legit purposes but what about the currency transfer ones such as Dash/litecoin ect. How does the price of those cryptos have anything to do me sending money to someone around the world? I could still do it if dash was worth $1 each?

I'm quite heavily invested in this market and I'm still holding because I can see a bright future in some cryptos but I'm honestly questioning myself about a lot of the ones I have money in.

Can anyone explain to me in detail how most of these cryptos are worth the money people are paying for them? I understand some cryptos will burn their coins away as they're using meaning over time the supply will decrease which will increase the price but other than that I don't see how they're anything other than speculation.

I really hope someone can at least link me a site with a good explanation.

Thanks

I dont really think people know what coins are worthy to invest for me i dont really believe in the coin that has no product or services involved in the real life,most of the coins in the top 100 cmc doesnt have any use,thats why i only short trade with these coins,solid coins for me are the ones that has backuped products or services,BTC has no use but it is being paired to most of the alts as ethereum is a good platform but i dont find any good use of this coin.

[DeepOnion333]

In the future many businesses run on BlockChain platforms. In order to operate on them, companies need the coins of these platforms. At the same time, the coin supply is limited. You can imagine the prices of these coins are going to be astronomical.

The coins of the leading platforms of the future are therefore NOT in a bubble, everything else is.

Possible leading platforms which are still very very cheap:
DeepOnion (ONION)
Nuls (NULS)

[Jrmjrmjrm]

I feel like these past days have proven my point.. all this fud has shown cryptos are nearly entirely speculation with most investors in it for a quick buck that will run at the sight of bad news.

[berrygood]

When a lot of people want to use bitcoin, even for transactions it will be very valuable because its supply limited and some people hold it. Same for other coins.