I don't pretend to understand cryptocurrencies, or all the explanations offered here. My question or caution would be this, normally when something is wanted or needed there is a long line of people clamoring for it. In the case of these cryptocurrencies, I see this long line on the supply side of the equation with people offering a solution in the form of cryptocurrencies, but where are all the people on the other side? I think if we see a like demand for this type of currency, say acceptance by mainstream retailers, it will be here to stay, otherwise it looks like simple speculation to me.

I believe that any cryptocurrency that can process a simple transaction as cheap and easy as any current method will win the race. Bitcoin doesn't seem to fit that profile. Is there another crypto that does?

I would classify speculation in Bitcoin as a pure gambling activity. Just look at the daily price swings. Can anyone look ahead just a day, week, month, quarter, and project the price of Bitcoin within any level of confidence? Of course there are plenty of people in the futures market that hope to get this right, ha! And this guy bets $1 million a year out. It is very exciting to watch this whole wave of cryptocurrency speculation unfold right before our eyes.

Answering this question is the challenge for me. How do you value any cryptocurrency? Otherwise, if you don't know when to buy or when to sell it is just gambling your money.