A currency is fungible, easily accessible, tradable and convertible with little overhead. And in order to function, above all else a currency must have stability and trust.
If people lose faith in a currency's future, then it has no real value.
If people believe a currency (or the government/system which supports it) is unstable, then it has no real value. Real world global trade and investment is done on long timetables. You can't develop a product that won't start selling for 6+ years if you can't predict how currency will behave along that 6 years.
No one had a 'wrong' idea of what currency should be. They saw an opportunity to scam people out of all their money by convincing them that gambling was an investment and that they were much smarter and more clever, and sticking it against 'the man' or 'the system' when in fact they were just being used.
There were only two notable groups in crypto: The scammers and the suckers.
If people lose faith in a currency's future, then it has no real value.
If people believe a currency (or the government/system which supports it) is unstable, then it has no real value. Real world global trade and investment is done on long timetables. You can't develop a product that won't start selling for 6+ years if you can't predict how currency will behave along that 6 years.
No one had a 'wrong' idea of what currency should be. They saw an opportunity to scam people out of all their money by convincing them that gambling was an investment and that they were much smarter and more clever, and sticking it against 'the man' or 'the system' when in fact they were just being used.
There were only two notable groups in crypto: The scammers and the suckers.