That being said I sometimes question the investment skills of some people within the cryptosphere. I mean why the hack would you put any money into thin air? Into something that doesn't even exist neither show any progress on github after all?
Greed and naivety. Remember Bitconnect? It was obviously a ponzi, and anyone who wasn't a moron was pointing this out for weeks before it crashed, but it still peaked at a market cap of over $2.5 billion. The cryptosphere is young and immature, and unfortunately so are many of its investors. I agree many coins will fall to nothing, and frankly, the sooner the better.