Such a strange article. You see all the problems with crypto, and yet you hedge. "THIS coin is obviously terrible, but some other coin might work."

It's been well over a decade. We know the only application for cryptocurrencies - it's crime: money laundering, tax evasion, buying and selling contraband, evading currency restrictions.

These coins have no fundamental value and they will never pay any cash flows. There are about 25 times as many cryptocurrencies as currencies in the world, almost 5000 now, and most of these are only useful for speculation - you can't buy and sell things with them.

People buy these because they think they will sell them to some greater fool. Once people start seriously moving to the exits, no one's going to make a market for these.

The final value for these coins will be their fundamental value, plus the net present value of all their future cash flows. That's the classical evaluation of a security, and for crypto it's zero.