I can tell you're one of the people who really get cryptocurrency. That's a good thing because i can't find many who do. Unfortunately many minds are clouded by their stakes and endless optimism in their projects and so i get that. You can't speak to a happy person who's about to marry the wrong person, lol. So we just get the same conversations and we don't get many places. So i wanna say first this topic for me is too big to cover in a comment section. So if you ever get the time or would like to. You can join me on my discord at: join our discord: https://discord.gg/n7aCkcr

You're 1000% right on these cryptos won't even get 50 billion miles near btc. However you're wrong in that none can do it. You're just looking at the ones you can see. So i'm going to explain it to you. Let's take it in your subtopics in portions.

{How do you "value" cryptocurrencies?}

answer: You're correct in that they really don't know how to gauge value. That's why the prices are always highly volatile and crashing and bubbling. As they really don't know the value of these cryptos. The reasons they don't know is because the market doesn't really use the cryptos, lol. It's just as you bring out the groundwork being laid but you still gotta bring it to the market in it's utility.If i go to las vegas i can put money in a slot machine. That casino token could potentially be worth millions of dollars to me throughout the night just for the sake of. So you could never really know what the token is worth. You could only speculate. It's called gambling lol.

{What makes one worth more than another?}

Nothing but brand and network effect. This is akin to saying something like facebook is worth nearly a trillion bucks. However it's many other social networks that are not only better designed tech wise than facebook. it's also more accountability than facebook. As well it's direct ownership of the user. So the user owns the network. All that said facebook is still nearly a trilion bucks and they worth only a few million although they have what some would deem more valuable features. The thing about network effect it's almost like the same phenomenon of virality. Nobody quite knows why some stupid cat video gets a trillion views. it does sometimes. So some cryptos have in some capacity managed to gain this network effect. I don't think it has much to do with the technology as nobody really uses the technology. I think some like bitcoin have achieved that and it's quite possible or even highly possible it can lose it in the future. As we don't quite understand it. We've seen examples of this before.

you state all tokens are of some value. Of course, the las vegas casino token is of the value that it allows me the chance to win $50k.. but thats not significant value. That's fools gold value almost. Thats what over 90% of the coins are like.

{How can a token holder extract value from his tokens?}

This is the other lunacy in this. So a currency hence the term " cryptocurrency" is no more useful at $1 as it is at $1 million. So people enter cryptocurrency misunderstanding how currencies work. When i'm holding in my native country a dollar i'm not going when i wake up tomorrow my dollar will be worth a milion bucks and i can go buy a million bucks worth of stuff lol.

That's the first part. The second part is okay so i have this cryptocurrency that i'm going to use that's what its for. Nobody accepts it. Nobody has the technical aptitude to accept it. if i buy an item and i need to charge it back.. It's difficult or impossible to do that. So now its an inferior financial product in many ways as far as a payment system. So now it's become this ridiculous speculation game of how can i create the best store of value product against a million others and they valuable for the sake of being valuable and people hoping they can get rich over utility. What's wrong with that picture? lol.

Last part i'd say is that cryptos can't be analyzed like say a share in a company for the extraction of value. In a company you can do a final dividend take every asset in that company and pay it out to the shareholder. He extracts the value he benefits. In crypto its just this abstract idea lol. Of this thing is worth this much money and you should accept that belief. However its no reason actual means to extract the value by anybody. That's even different than a nation fiat currency who has an army to enforce their view of value lol. if you say the us dollar is not worth anything. The us military may say otherwise and just go to your country and steal your stuff lol. That won't happen in crypto.

what i have seen that works is crypto companies that convert your crypto to shares in their companies. Thats not a bad idea it's too many legal problems with that. However i will show you a way it can be done and is being done avoiding all that.

{In conclusion}

You're 100% wrong although you make the best points i've seen so far on an article lol. Why are you 100% wrong? I'll tell you why. Bitcoin may have first mover advantage and is well established . However of all the cryptos out there even the crappiest coins. Believe it or not surprisingly bitcoin is probably one of the worse lol. it is outdated. it runs on spaghetti code lol.

It's had several inflation bugs lol. It can't be moved or used for anything its got high fees lol. it's slow. it is complete garbage on very level lol. The other cryptos are mostly redunded. .Copied code saying they can do it better. Data shows in crypto it's very difficult to replace the progenitor crypto.

As much as i like the idea of leo and cub make money from it. It really runs on the hive blockchain. What's wrong with the hive blockchain. Nothing if you're making mid sized level businesses. If you're getting to btc and eth levels you got a major issue. A major security issue. You got a structure of witnesses that have although elected powers .. alot of power over accounts and a big company suppose to put a billion bucks on there? I don't think so. As a small business thats fine. however we not talking about a system of this magnitude you need a system like btc for that.

The reason you're wrong is because its an easier way to do this. There is a project right now doing it with a stable coin that goes up with controlled rates of inflation against network growth. As valuable social media accounts are added that increases the buying power. So its like if you took fb and you took every account on fb the value of the account would be around $400 or more.. Facebook value would be around a trillion bucks give or take. So you've now addressed your means of determing value unless you're going to say that accounts and networks and social media platforms the people equal a value of zero which you can't do that ever. So the problem with crypto if you really look at their networks they are small. Even if you take btc adn ew say its really 50 million users. Thats still considerable small for networks lol. When you got networks of hundreds of millions and billions and they are just private businesses. So i created a project called Bitcoin MYK . it address all that solves al lthat. but as you can see i've already written too much to read lol. So if you ever wanna continue discussing it . You can come to my discord or you can engage in our content and articles. We did leave you some so you can test it out. alright take care

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