[billmalarky]

Same argument can be made for stocks in companies. Sure it could be a bubble. No one knows the value of this stuff it's still 100% speculative (not generating a known return). That's why there's so much potential for massive returns at this stage.

That said, don't put money that you can't afford to lose into cryptocurrencies or there's a good chance you could get hurt.

Also, it's a great way to get easy exposure to high risk investments as a part of your risk adjusted portfolio.

[paulgb]

Stocks and crypto are both subject to speculation, but it's apples and oranges. The actual value of a stock is its discounted future value. When people speculate on stocks, they speculate on what its discounted future value is.

With crypto, the discounted future value is by that definition zero. People are instead speculating on what the consensus value will be, i.e. what they will be able to sell it for. It seems that in time the consensus will favor the currency with the best technology, not the one that was first.

(My personal bet is that all crypo will trend towards zero eventually, but that's besides my point here)