Maybe it's just my perception, but in these times when new coins appear every day, it seems to me that most of them lack value.
Are you reffering to airdrops coins/tokens? or the shitcoins that have $$ values and even in the top of CMC?
I have seen that many currencies are created based on an idea, that they intend to be used for something, even though at present they are useless, they are based on the hope of being used. I hallucinate seeing how some collect millions in the ICOs only promising that they will be adopted en masse, only selling an idea that has not yet been started or developed.
You have a point that many are selling dreams and not a working product. Anyway it depends on the team. Some ICO have already a working product and they need fund for further development.
I wonder what chance of success has a currency that is defined as "the new currency that will replace Bitcoin" or any other great concept if only based on a theoretical idea.
Many are claiming that their coin will replace bitcoin. But still could not dethrone bitcoin.
The best candidate to replace bitcoin is ethereum with a 50% chance if success in my own opinion.
Do you have to create the currency first and then wait for a community to be created that uses it?
Would not it be better to have a community first than willing to give the currency a real use before creating it?
NO one will work for free nowadays. Also someone or the team need money for expenses like food, marketing, and etc.
I believe that for the creation of a new currency to make sense, it has to respond to a real need for the exchange of goods and services, if we only buy a coin with the hope of selling it more expensive, if there is not a community that supports it, We will be betting on a pyramid system, and we all know how those systems end.
That is just my opinion. I do not know what others will think.
If you read the whitepaper you will find How that coin will "respond to a real need for the exchange of goods and services ". but Sometimes they become shitcoins with $$ value because few people are using it.
It's natural for investors to buy low sell high.
Do you invest for the purpose to lose your money?