Comment by xmprt
4 months ago
Bitcoin, ETH, and Monero all have utility in one way or another. Bitcoin is accepted by most black markets (and Monero is even better for privacy). And software is built on top of the ETH chain. No one is buying stuff using DOGE or Trump coin. There's a clear difference between memecoins and legitimate cryptocurrencies whether you like them or not.
The question is: what makes a cryptocoin legitimate, in your opinion, considering that 'ilegitimate' memecoins are usually just a copy-paste version of a supposedly 'legitimate' cryptocoin?
If people are using them outside of speculation then I'd consider that legitimate. I'll concede that most of the market cap of cryptocurrencies is from speculation but at least Bitcoin, Ethereum, and a few other coins have use cases outside of that and for that reason, they will at the very least have some value even if that value is much closer to 0 than to what it is currently.