I agree with you that people are pouring money in without much understanding.

I wouldn’t necessarily say bitcoin is superior to some altcoins and that was not the point for this post anyways. If I am to argue for that, I would have to write a separate post with a slightly different approach. Also I am not trying to give any financial advice as to which coin people should be buying. If you don’t understand what you are buying into, you probably shouldn’t spend a lot of money on it whether it’s bitcoin or alts.

If anything I can say in favor of bitcoin related to this article is that, bitcoin is actually useful for some things and is being actually used in certain situations beyond mere speculation, while some other altcoins don’t have the same utility bitcoin provides and are simply attracting speculators. This may change in the future, but so far the price increases for some coins in my opinion are unsustainable and a bit bubble-ish. Also, I am very skeptical about most ICO projects, which don’t even have any viable products yet but are going 10-folds in valuation in a matter of weeks.

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