They might be, but does enabling you to buy LSD over the internet really justify a $300 billion market cap?
LSD is one of the most important inventions in the history of humanity. The state has chosen to ban it, which to me seems a little childish. But I mean, I get it. Sure, go ahead, ban it for now.
In the face of such a small-minded prohibition, I might look around for tooling which seems imbued by its nature with a desire to circumvent such a ban. And even if it is scaffolded on hundreds of billions of dollars, it has the hallmark of a sacred origin if it's successful at doing that.
Or maybe not. I don't really know.
But I do feel confident that, in light of such circumvention, it's not quite correct to write it off as "nothing at all," which blockchain skeptics seem wont to do.
Even if this were true, and it's obviously not, what about the illegal use cases? Aren't they important?
Bitcoin has helped people gain access to a wide variety of medicines that the state has improperly and violently prohibited.
That's not nothing.
And if it can do that - if, in the face of such overwhelming opposition, this technology has aided people in need, then doesn't it stand to reason that it can help other groups of people also?