I dont even pretend to understand blockchain technology in detail and ethereum but you guys are dumber than me,ALOT.Value of BTC is made of people beliefs +some shops that accept it,therefore you could say its value is backed a bit by the fact that it is somewhat accepted.Well, value of altcoins is made only of speculation (people hoping to get rich / make some profit with small investments) and are backed by nothing unless they have very promising technology in them,and considering this aspect ethereum atm is dominating every crypto out there,including btc.Ofc this doesnt mean it will succeed and wont mean it will stop people from releasing something much more advanced.Any crypto can be dumped and lose easily a big portion of its value,including bitcoin,but lets assume they would ALL be dumped and reach same market cap.What distinguish them in this situation?Well,their technology.
Yes you got the real point of real cryptocoin! In the beginners bitcoin create huge hope , many people got rich with nothing! Media everywhere in the world has such big impact to the mass! Now People living in the hope of another bitcoin .....but only big investor will make huge money by the hopes of the people....that is called speculation!
I knew it could happen one day, i remember on eth forum, few weeks ago,someone was selling out from exchange more than 200K ethereum, can immagine 200K for 13 dollars each , and i think is the same person whu is dumping all the ethereum, and i would have than same if i had same ammount of ethereum, can immagine i could sell this ethereum to people and buy new house, new car , new holyday champaign, nice woman!....what you do with 200K ethereum , better to have fresh fiat cash!