Lately, hopefuls and critics (or haters as some might say) are in dialogue over the legitimacy of cryptocurrencies. But, its time we look beyond it. Those who feel threatened by the penetration of cryptocurrencies term it as "fraud" or "bubble" or "FUD". On other hand, hopefuls and optimists focus on the opportunity. In case of cryptocurrencies the rise is associated with financial motive for most of us, but for accomplished others it is either a potential future or just pure non sense.
(Image source: https://frugalentrepreneur.com/2015/07/the-optimist-vs-pessimist-divide/)
Various individuals have different perspective , but i would focus on the positives generated by cryptocurrencies in real world. Blockchain is a generic technology and can be applied to various segments. Several institutions have started towards testing the feasibility of using blockchain technology in their business, be it operations, banking, finance or smart contracts. So, it is not such a bad news after all. Bitcoin might be a hit or not, only time will tell since no one is accurately able to predict the cause and effect. Any new technology gets attention and blockchain have certain features that makes it viable to be applied for solving variety of problems. Out of 800 odd coins, may be 20-30 coins are worthy of having a long term future, but cryptocurrencies might not be hearsay after all and has potential to offer much more.
It comes down to... what problem is it solving that no other is solving. Nothing? Worth nothing when people find out. Something? Worth something when people find out. Pretty simple.