Depends on your definition.
IMO (obviously, just to emphasize, it's my subjective opinion):
Investing - generates cashflow. Dividends, rent from real estate, interest. You might consider selling something if its value goes up, but generally speaking, it's not really your objective. You want consistent income from your investment.
Speculation - anything you buy hoping that its value will go up so you can eventually sell it. Flipping real estate, commodities, non-dividend stocks you plan to sell when the price goes up.
I never understood cryptocurrencies and a few times I tried, it was well beyond my understanding even when explained in the simplest terms. From my conventional investing perspective, it sounds like a fantastic way to lose money. I wouldn't even call it speculation, it's just pure gambling as a few people in the thread have already pointed out.
I was going by the dictionary definition. Buying in the hope of selling for a higher return in the future.
Now, many don't understand crytocurrencies (as you have said), so think it is nothing but the greater fool theory. To be fair, that is true for the majority of coins.
However, some crytocurrencies act as a form of gas for the network. Buy VET today, you won't be selling it to another 'investor' just hoping to make money, you'll be selling it to a fortune 500 company that needs it for their block chain transactions. Whether that's an auditing firm, assurance firm, car manufacturer, etc. It's quite a sophisticated formula, but you get the general idea.
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