I wrote in depth about Moore's law this year for English. And while it's true that it was "just an observation 40 years ago," people have done plot studies of exactly how accurate Moore's law has been (read: The Singularity is Near by Ray Kuzweil).
In addition to the astounding accuracy of Moore's law, the general implications of the axiom hold true for nearly every technology from the past to the future. Much before Moore's law (or even Gordon Moore himself) existed, there were various paradigms of technology (read: vacuum tubes, transistors, etc.). Because of the obvious path for technological innovation, new technologies will arise and continue to follow Moore's law.
In fact, HP already uses platinum latch technology for printer cartridges and is working on moving that technology over to IC's. And at the same time, companies like Intel and IBM are putting a ton of work into carbon nanotubes. The future is literally unfathomable. Following your closed-minded notions, it's easily understandable why people in the 80's thought computers would always be room-sized.
RE: BitCloud
I am just thinking about it logically, ignoring any historical precedents. "The past doesnt predict the future." Correct logic predicts the future. If someone invented a new mechanism of storage that was more efficient than magnetic or flash in memory storage, it still wouldnt change the logical premise that there is a hard limit to how much data can be stored on a chip or, lets just say, 'storage device', and therefore bitcoin is theoretically flawed, because the size of the blockchain will never stop growing over time. Of course there may be some 'out of this world' technology that comes along which cannot be even imagined right now, that makes storage unlimited and therefore bitcoin feasible. Maybe a bit like nuclear fusion supposedly makes energy unlimited. That is a big , crazy assumption.
Practically, if the blockchain keeps growing at the current rate, i think we're going to see some real problems with scalability of bitcoin in the much more closer future - before flash or magnetic storage is superseeded - i'm talking about in the next 6 months.
