> But some very knowledgable people continue to argue with passion that the entire technology is a useless fraud!

Can you mention one of them? And his/her knowledgable argument.

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> useless fraud!

It's already been used to solve real world problems:

https://www.coindesk.com/the-united-nations-just-launched-it...

Citi and Nasdaq had a blockchain project that is already up and live. Can't find a link, but I swear I've watched it in a blockchain event in youtube.

However, these are small scale use. Afaik, no blockchain is able to scale to creditcard usage yet (and stay secure at the same time). Ethereum Foundation is working hard on this. Not sure about Bitcoin. So as far as ETH goes, there's basis on it's price growth.