I think i get what you mean, vaguely.
but in reality, how different is it from a “normal” stock market and investing ?
you say there’s no intrinsic product or value behind it, just essentially people playing with a new toy.
how is the stock market any different ? didn’t the sub prime collpase, and bubble and crash happen cos people ended up “betting” on the housing boom collapsing ?
I’m not an ■■■ fanboy of crypto’s, there’s some merit to them, and hopefully i can make some money out of it, but if not meh.
but on the other hand people from stock market investing seem to carry on about it’s a bubble and it’ll crash like the the regular stock market doesn’t do that exact same thing, and it’s exploited or exploitable by the exact same nefarious dealings and people, they just wear suits and call themselves bankers instead of wankers.