It's not remotely true. Most value in cryptos comes from the potential to create wealth though certainly it's speculative (in the sense that we don't know which cryptos will last and which will fall away, just as we didn't know which internet companies would last out of the .com bust), and yes, wealth is created all the time. The global economy used to be measured in campfires and arrowheads that combined couldn't produce a single mcdonalds. Now McDonalds themselves are almost as disposable as their sandwiches were 50 years ago, and crypto is the realization of value originally built into both our electrical grids and silicon industries, but it takes time to wring all that value out.
While it is true that noobs are giving away their money when they 1) panic sell and 2) FOMO buy, that contributes at best, very little to global crypto growth and mostly just lines the pockets of day traders. Crypto is far bigger than day traders just like mining is far bigger than those selling their crypto daily, and I suspect we'd have more slightly more value in crypto if the day traders completely exited the scene and stopped destabilizing everything and scaring everyone.
Money doesn't come from nothing, it comes from work. But new work is done all the time. So long as the sun keeps shining and plants keep growing, and animals keep eating them, we keep working, and we're nearing the point that even the sun ceasing to shine wouldn't stop us. We're just now wringing wealth out of work done decades ago (for example, building the electrical grid, building the internet, refining silicon chipsets), it could be decades still before wealth is fully created from all the work being done today. Zero sum game blather is for the bitter. Anyone with a satoshi of perspective should know better.
While it is true that noobs are giving away their money when they 1) panic sell and 2) FOMO buy, that contributes at best, very little to global crypto growth and mostly just lines the pockets of day traders. Crypto is far bigger than day traders just like mining is far bigger than those selling their crypto daily, and I suspect we'd have more slightly more value in crypto if the day traders completely exited the scene and stopped destabilizing everything and scaring everyone.
Money doesn't come from nothing, it comes from work. But new work is done all the time. So long as the sun keeps shining and plants keep growing, and animals keep eating them, we keep working, and we're nearing the point that even the sun ceasing to shine wouldn't stop us. We're just now wringing wealth out of work done decades ago (for example, building the electrical grid, building the internet, refining silicon chipsets), it could be decades still before wealth is fully created from all the work being done today. Zero sum game blather is for the bitter. Anyone with a satoshi of perspective should know better.
I couldn't agree more. What I could add to the sentence "Money doesn't come from nothing, it comes from work." is that money especially comes from consensus about value, and such consensus is the fruit of a shared reality, which is one of the features of a healthy community.
And I especially agree that without daytraders and gamblers the cryptocurrency society would have far more value by now, and a sustainable one.
weee 
Anyway, the news of the new partnership is great for EMC2.