One day you won't be able to exchange BTC for any real money cause Governments and NWO will shut down exchangers and nobody is going to trade with you face to face in fear of under cover raid.
Actually BTC could probably become illegal just like other certain stuff that is illegal to possess on your hard drive. So make sure you have it encrypted (TrueCrypt is free and very good) with a huge 50+ character password including symbols and numbers to make it impossible to brute force in 1000 years, else if they find your BTC wallet you'd probably get 25 to Life for conspiracy to over throw Governments and NWO, labeled as national security risk, and put on no fly list.
Yes, this is our future. Sticking your head in the sand, or putting your fingers in your ears going "la la la..." won't stop it from happening. Some day, you'll wake up.
For the people doing BTC as an investment to make money, the time to cash out is not before the next crash, or the crash after that, but to cash out before you can't cash out anymore, regardless of value. But heck, even if you cash out the day before, nothing to stop the government from tracking and logging whats been going on for a while, and freezing bank accounts from everyone associated with BTC exchangers, etc. Oh can't happen? Look at Liberty Reserve.
You remind me of rigtards in the poker community.
I don't agree with either of your lines, but if I'm not mistaken Absolute Poker / Ultimate Bet had quite the 'superuser' fiasco a few years back. Pretty rigged IMO. The feds swooping in on Neteller and absconding with players money was also a very real happening for a few of us.
The government can't take Bitcoin unless the users allow it. Many would happily trade fiat for bitcoins off exchange if it came to that. If it is made a federal felony or results in time at Gitmo, we might not be so inclined, but until then Bitcoin as a protocol is as free as the speech in the user's respective country.
Liberty Reserve served a needed place in money services legit and otherwise. That need will continue to be met because it
is indeed a need.
The more legit merchants and individuals that adopt Bitcoin, and the more it proves itself over time; the more impossible it becomes to place Pandora back in her Satoshian box.