Another point of view. Crypto Apocalypse?

The Crypto Apocalypse?
Seems people are selling like their hair is on fire? They are trying to get out so they are not the bag holder?
Look at all these digital coins, tokens, etc. What are they backed with? A unique number stored in the ether? Wow. Are the transactions quick with no hangups? Doesn't seem so. Transaction free? Doesn't seem so. Easy to convert in currency? Doesn't seem so. Easy to understand. Not for the masses? Can you buy stuff with them? Not much and when you can it is typically a company charging you a fee to sell the digital into currency to then buy their product.
All these ICOs with many more coming? Heh, but they got a "use case" and white paper? hahaha
This seems like a gold mine for pump and dumpers?
Many of these flash crashes with exchanges shut down, the coin/token network disabled, etc. A harbinger of worse things to come. People trying to get out into currencies? Mega dilution with not enough new "tulip" buyers?
Many exchanges and coins/tokens already suspected of fraud. Marketing networks of rewarding members for finding new members into the "ponzi"?
Last ones out turn of the lights?

I am a crypto fan, but that was another point of view which belongs to one of my friends. I hope to open a discussion.
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