Very generally, there are two classifications of how people see bitcoin, and people tend to fall to different degrees into the two camps. The first is the to the moon camp. These folks believe bitcoin is solving a fundamental problem that fiat currency doesn't address and that it is only a matter of time before bitcoin replaces the USD as the dominant currency in the world. Now, that's written to the extreme end of it, but I'm sure you've all seen variations of this sentiment on these boards. Also falling into this camp are people who think that the next major recession or market crash is going to send the bitcoin price soaring, as people flee the broken fiat currencies of the world and buy up all the digital gold (btc, of course) they can get their hands on.
The second group thinks bitcoin has serious flaws that will prevent it from ever becoming a major currency for the purposes of trade or commerce, and that it is at best a speculative investment. (Again, written to the extreme.) These people believe that the next major recession or market sell off will tank the price of bitcoin along with everything else, as capital flees the riskiest assets first. This group also believes that bitcoin is a flash in the pan, and other digital currencies will eventually surpass it or they will all diminish in value together.
There are degrees along this spectrum. If we were plotting this out on a scale of 1-10, let's call the first group a 1 and the second group a 10, and a 5 would be someone right in the middle who doesn't think going to the moon is any more or less likely than going to 0.
Where do you fall, and why?
I don't belong to those group.
I think i am in the middle because there is something need to settle before bitcoin can become dominant currency in the world.
I think bitcoin is still a relatively high technology stuff for general people, this is because if we use traditional way to store all those currency, we can store in the bank. We use it easily daily through cash, credit card, debit card, online payment or others. If someone store his/her life saving in bitcoins, and someone(hacker) rob all his/her saving through technology, how do he/her get back compensation? However, if in bank, government has the power to fix those issue.
No only to the security issue, payment systems for bitcoin is still very lag behind nowaday payments system and majority of financial institution wouldn;t make costly and time-consuming effort to change their payment system.
