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Lets talk about cryptocurrencies

I was a bit reluctant to post this here since I have a feeling you guys don't like this topic, but then again it seems to me that this is the only sub where I can expect at least one intelligent response.
I'd like to believe I have a good technical background and understand how Bitcoin and other cryptos work and after closely examining the projects in this space it seems like, with the exception of Bitcoin, they offer no real use case. In addition, all this "blockchain" hype is pure buzzword with no real usage. Yes, there are things in the banking industry that can be made more efficient but using centralized databases would be much more reasonable and efficient. What is concerning is that many big companies are hyping this up and the technical managers seem to see big things for blockchain technology. Judging from history there were technically inferior things that the market still pushed forward so juding things only from a technical perspective is not that useful.
On to the market situation. There are now more than 1600 cryptocurrencies with a combined market cap of 330 B. The number of ICO sales in May topped last year's sale and there are projects that raised billions (!) of dollars without having any product, not to mention that the product they want to develop seem to have no valuable use or future potential.
What I do lack is market understanding and experience. Doing research, it seems to me that this whole mess is very similar to the dot-com bubble, although the (mis) understanding of the technology is much wider than in the dot-com era.
So I was wondering if anyone could share their thoughts on how you see this market playing out in the future? My hypothesis is that everything other than Bitcoin is currently useless and hence should be valueless. But I don't know how to model this situation in a profitable investment.
Is it realistic to expect that in 5+ years, there will still be thousands of cryptocurrencies and people willing to trade them? What could be a potential catalysts to stop this expansion? Could you draw some parallels from similar phenomenons ? (please dont mention tulips)
My intuition is that anything but Bitcoin should eventually fail but there were many instances in the tech world when inferior solutions were far more successful and adopted than technically superior counterparts. (an example would be the DOS operating system vs Unix)
So I would really be curious to hear how you guys see this thing play out in the long term. Can we expect big exchanges like Binance (raking in hundreds of dollars of yearly profit) simply disappearing once the dust settles? Or is it realistic to expect that this kind of market action (buying and selling useless coins) takes off in the long term?
EDIT. I don't care if you agree with the presented view or if I am right or wrong about the crypto space. Rather, given my assumptions I would like the opinion of seasoned investors. How do you see this bubble playing out. Any parallels/use-cases tied to traditional markets are welcome
submitted by azooo to investing [link] [comments]

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How To Use Binance (BNB) - A Cryptocurrency Exchange

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