I don't get his reasoning, he main critique is that bitcoin penetration/usage is way lower than "previously thought" or how the community makes it look like. I agree with that, but what does this say about possible future developments? if anything, I'd say "oh great, so I'm even more early adopter than I thought" or "there is way more room for growth than previously thought".
At least future development got a clear degree of uncertainty. I really loathe the desillusional people here that sometimes seem to only live in their own dreamworld. Almost everyday I see the same bullshit statement passing by: 'Adoption is ever increasing and....'. I really ask myself if the idiots that bring that shit to these boards tell that to themselves each and every day before they go to sleep, thinking about their 800 dollar+ coins. Whenever there is some lame announcement about some new Bitcoin venture, people immediatly grasp the opportunity to implictly proclaim that market adoption has just doubled again.
I know better and so do many others here; if they will admit it is a second. When I read the media regarding Bitcoin, it is mostly (if not nearly exclusively) bad news. When I look around me I literally see no one using Bitcoin out of dozens of people I know. Above all I know for sure that many of them will never start using it, as they want to avoid risk. The adoption myth will slowly deflate itself in the mid term.
Looks like pretty strong growth in usage to me:
I wonder how much of that is due to trading. Also: what immediatly catches the eye is that the growth in adoption seems far slower than price growth (that is, the bubble we saw in november/december 2013). I still don't see people jumping into Bitcoin, as it is far too complex for the average joe. He wants something simple, easy and safe, and therefore Bitcoin will simply prove to be no candidate at all in the long run. I expect that some altcoin (that is, not some Bitcoin clone but something real like Nxt for example) will take its place and that particular altcoin might have a small chance of becoming used as it is meant to be.
Like many of you btc detractors, you act as though bitcoin should have just sprang into existence and been as easy as a credit card to use from day one. With game changing socio-economic breakthroughs like bitcoin, it doesn't happen like that; even widespread use of credit and debit cards took years to take hold. Right now bitcoin is in its infant growth phase, where development is taking place to help make it much easier to use. The key phrase is "give it time."
