[lottin]

Speculation is always based on future price expectations. Whether such expectations are justified is a matter of debate of course. Personally I don't find any of the rationales convincing, quite the opposite. But, look, we already have examples of irrational behaviour such as in the case of lotteries. In principle, no rational person should buy a lottery ticket, since the expected value of a lottery ticket is negative. Yet many people buy lottery tickets. The world is full of gullible people who are willing to believe that they can get rich for free.