Thanks. Maybe my question was not clear enough, I've used Coinbase just as an example, don't get me wrong, I don't have nothing against them, even the opposite... I'm questioning the crypto model and the valuation of the tokens, the problem that there is no equity behind to justify their value. :) Of course, the obv point is that it is a free market and the price is determined by the supply and demand. But exactly this is also where the problem is IMO...

So to rephrase my question... As said, the current price of the BTC is purely speculative (no equity behind). If it was the opposite, there should be no reason for anyone in the world to invest in anything else (neither to try to start a business, nor to go to work, nothing...) than cryptos. Because the growth is that big and easy, everyone is potentially able to increase their wealth significantly in just few months. Now I hope you will agree that nothing in the world comes from nothing, so this is what my question is about...

The only things the cryptos have at the moment is Trust, Hope, Plans.. :) It's similar to a gov debt - you can buy it for 1 USD and to hope that it will become 10 USD so you can profit. But as its a gov debt, there is the economics of the country behind that can produce value, there is FED that can print dollars if there are no enough to pay you when you come back to them to ask for your 10 USD per each paper they've sold to you before.... And with cryptos you dont have any of those...

Cheers