It is exactly the same situation as the Dot Com bubble. Enormous amounts of money and hype are being poured into a new promising technology. So you end up with people convincing themselves that WebVan and Pets.com will be the future of grocery delivery or buying pet products.
And today it is "BTC is the ONLY internet Money", "Ethereum will be the ONLY way people can execute smart contracts in the future". Invest Now!
I completely agree with you, but the dotcom ideas you used as examples were ironically great ideas.
Grocery delivery is the future (or at least a huge, lucrative chunk of it) and a lot of people do buy pet products online and sometimes even in a subscription model. Chewy.com is a huge business.
Right, and public ledgers, digital money, smart contracts will be used by the people in the future, but BTC and ETH prices are as important as WebVan/Pets.com stock prices for that to happen.
Smart contracts are just software, so I agree. Software will be used in the future.
I still don't know the value of public, distributed, cryptographic ledgers. They don't seem to solve real-world problems because there is no way to tie them to the real world. They preserve lies just as well as they preserve truths.
Digital money is useful, but fiar is already digital.
BTC is used for bypassing government controls (drugs, money laundering, currency export controls, remittance) There will most likely be demand for that in the future. I'm not saying anyone should invest in crypto, I'm just saying those use cases exist.
And today it is "BTC is the ONLY internet Money", "Ethereum will be the ONLY way people can execute smart contracts in the future". Invest Now!