I am not very knowledgeable on crypto but always doubted the genuine and practical uses for it.

I understand the whole blockchain, digital secure currency aspect but never actually believed that is the driving force for the valuation.

What is the long term goal? Like I know a lot of people are investing in it hoping to get rich hence the different cycles as new investors get attracted, old investors leave etc.

will there not come a point where majority of people investing in the coin, realise that they don't actually have any use for holding and sell back to a FIAT currency? Like I understand why people are investing heavily now as the price keeps on increasing. Something they invested 1k in last week is no worth 1.5k (random figures).

What happens in say 5 months when they have 3k in crypto, and realise they probably would prefer to just cash out their 2k gain and put their money towards something tangible.

It seems that the world is a Long way away from Btc etc ever being an accepted from of currency and still sits as a fringe alternative.

Surely BTC will reach a price in the next few months too attractive for old investors to stay involved and sell their holdings for FIAT and ride off into the sunset. Like what is actually stopping this from happen eventually and then the price to crash?

I think in essence what I am wondering - what is the actual use for BTC outside of being a highly volatile and speculative investment?

pump & dump

to make me rich (plz gib bitcoins)

I think a select few will make billions while 99.9% will end up with nothing.

Store of value. Like Gold. Bitcoin can not be printed more of, dollars can. THat’s all, you’re just protecting yourself against inflation. Dollar debases, your stocks, food, gas AND BITCOIN go up in price.

As an added bonus this storage of your wealth is easy to move unlike any other form of storage like gold, who has time to move around gold in armored trucks and suitcases?

Depends

BTC/Ethereuem etc.- pump and dump

CBDCs - control

An uncorruptible money system. But everything can be corrupted and no government besides El Salvador will give up their currency for BTC. You are asking the top 1% to allow an alternative money to replace their money, good luck with that.

It will probably continue to be used as a "stock" for the vast majority and the black market implications will bleed over to more things like pizza and gasoline. That tricky conversion to USD in order to buy things is the hick ups. Just gotta convince the FED lmao.

Greater fool.

For ballers. The typical miscer’s net worth in gold could be moved in the palm of their hand most likely.