In the end your responses are weak and too general to respond to, and the real response is "hey don't worry about any of that firsthand knowledge of issues it's even higher today". Irrational exuberance. I'm waiting for a good, factual response to the counterparty risk issues I've raised.
Bitcoin is the AOL of future money - a better version will come and it will be at the behest of those in power, taxed and regulated. One blip like Mt Gox again and people will be begging for oversight anyway. I have no doubt that the banks will give people 0s and 1s and call it value - that's their dream - but as for being "rare" or "decentralized" not a chance.
Also, did you see the story that Iran is looking to get more seriously into BTC? Thinks that bodes well for it's long term health? One tweet from Trump that Bitcoin is terror money and the ride is over.
On your comments on Mt Gox, that was an exchange, not a currency. And indeed, the fact none of the coins stolen from that exchange can be traced etc actually CONFIRMS the characteristics many want in Bitcoin - that is a non-trackable anonymous currency that cannot be controlled by the Government.
Bitcoins are truly and mathematically absolutely and truly "rare" and "scarce", if you understand these economic concepts.
As for "terrorists" using BTC? You do realize they also use USD right?
The big money is still on the sidelines - This is one of the most important things to understand. Institutional money hasn’t made its way into crypto yet. There is no way institutional investors are going to watch a liquid, tradeable, investable asset class grow in size year after year after year, and not want to be a part of it.
They won’t stay on the bench for much longer. Because existing crypto incumbents are building out everything required for big money to participate. Right now pension fund can’t make even the tiniest allocation towards crypto until a LOT of legal boxes are ticked and i’s are dotted. That’s why things like compliance, digital asset custody and cold storage, security and, of course, legal opinion is all being put in place.
This doesn’t happen overnight, but it will happen. EVERY financial institution and government is looking at but nominal amount of the "big money" are in.
