"In practice, blockchain is nothing more than a glorified spreadsheet."
well you can say that about anything else that you can think of. for example
Diamond is nothing more than a glorified carbon atom. but obviously statements like these are simply dumb and they only show the lack of knowledge of the person who says them.
With the value of bitcoin having fallen by about 70% since its peak late last year, the mother of all bubbles has now gone bust.
.... or you can say value of bitcoin has gone up 600% since last year.
other digital currencies have plummeted by 90%-99%,
well, lets not confuse bitcoin with pump and dump shitcoins.