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RE: Proof that cryptocurrencies are a major bubble with no underlying fundamentals for their valuations
That's the case for bitcoin, litecoin, etc... whose only added value is anonymity which is -let's face it- not something important for everyday customers. Only crucial for dark economy like drug/gun trade.
There are real value-adding coins out there, which utilise blockchain technology to actually generate value. Like Steem which is powered by its users or JSEcoin that allows browsing without ads thanks to browser mining (amazing idea!) or SiaCoin that allows you to lend your extra storage space. I think those might be of some value in the long term. Not for daily traders but for those that put some money there and forget about it for the next 2 years.
I agree .. my main concern is the value being attributed to all these cryptocurrencies .. easiest way to understand this by example is like this - today A buys "X"coin for 1, then B buys it from A for 2, then C buys it from B for 3 & so on & so forth .. however, what value addition is happening & what is the utility ? not much ! .. looks like a self-perpetuating ponzi scheme to me