Bitcoin collectors and crypto-token creators suffer from a number of unsupported beliefs destined to come back and haunt them. The key ones:

 

That Quantitative Easing was the same as “printing money”.  It wasn’t.

 

That printing money causes hyperinflations.  It doesn’t.

 

That a 21 million limit means anything.  It doesn’t.

 

That blockchain is the future of finance/law/business.  It isn’t.

 

That if blockchain were to become more widespread it would be based on cryptocurrencies as we know them.  It wouldn’t.

 

That blockchain eliminates the need for intermediaries and rules in markets and transactions/contracts.  It doesn’t.

 

That the cryptocurrency/blockchain bubble is like the dot.com bubble.  It’s not.

 

That network effects are enough to sustain the value of a currency.  They aren’t.

 

That a low barrier to entry and endless replicability does not reduce the value of cryptocurrencies to zero.  It does.

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The true value of cryptocurrencies is zero, as many are soon enough going to painfully find out. Some more discussion on why here – Of Bitcoins and Balance Sheets: The Real Lesson From Bitcoin