Bitcoin's not done, but the price will continue to decrease, mainly because heisted BTC almost always get sold for below-market price, but also because there is no real reason for 99% of the population to use it.
The fastest, cheapest, and most secure way to send money is not a good enough reason?
I'm celebrating my 1 year anniversary on this forum and I would say adoption has leveled off.
Hard to say, maybe.
Bitcoin isn't going to be used by the poor masses to wirelessly transfer money to their home countries without having to pay customary surcharges and fees.
Why is that? Are you aware that in Africa this is the way it's done now? I'm not even sure what fees you mean. Who can charge me a fee?
Bitcoin isn't going to be the "go-to safe-haven" investment when all hell breaks loose and the dollar collapses.
Why is that? I would definitely use it more if the dollar collapsed
Bitcoin won't fuel any sort of revolution because you still need electricity and the internet in order for it to be worth anything.
Is electricity going away? I don't think it's a fad.
Nobody wants to download the entire blockchain to have their own QT wallet or much less gives a shit about being a node. The size of it is too unwieldy.
Few will want to run a full node. But fortunately only a few need to.
The only good thing I see coming out of bitcoin is more decentralization of mining as the price falls below profitability for the major miners who are used to paying outrageous prices for ASIC equipment that will soon again be worthless.
bitcoin scales and it is always profitable. But not for every miner. Like say... Mining.
Thanks for making it super easy to rebut your points.
The fastest, cheapest, and most secure way to send money is not a good enough reason?
Its not "money." Its bitcoin. Its an intangible series of 1s and 0s. The cheapest, fastest way to send money is known as a debit card. Pop it into an ATM or any retail card swiping device and BAM, money sent. No sitting around waiting for confirmations necessary.
Why is that? Are you aware that in Africa this is the way it's done now? I'm not even sure what fees you mean. Who can charge me a fee?
If by "Africa" you mean Kenya, then yes I am aware of MPesa. Western Union, Paypal, etc. can charge you fees.
Why is that? I would definitely use it more if the dollar collapsed
You might, but your desires will be completely overridden by those of the financial sector. They set the safe haven investments, not us.
Is electricity going away? I don't think it's a fad.
Not the totality of electricity, but there are blackouts and brownouts across the country on a daily basis. If you take away our electrical infrastructure, however global or local, your bitcoin becomes worthless.