[anonymouswacker]

The "space" for a cryptocurrency is a Venn Diagram solely occupied by one circle: Bitcoin. We're seeing a culling of these shitcoin also-rans, which took the money from the late-coming naive while enriching the early wave of speculators, like any other common pyramid scheme.

[smcl]

Amazing. When the crypto world get bored of minting apes and such maybe they'll try to actually bother to try making bitcoin into something that can be used day-by-day. I don't think they will though. I think it'll remain only a speculative asset whose price jumps erratically to-and-fro until people get bored and move on to the next shiny thing.