The writer has some pretty poor points on this article.
The Bitcoin payments infrastructure itself, including all Bitcoin-based business models – 75%.
Last bubble (2013 to early 2014), there was actually drastically more usage and adoption by merchants
after the bubble had collapsed.
If a bubble collapses, that means less hype and most likely less trading volume afterwards. This can result in lower fees and more stability, which actually makes it a more convenient payment option and more likely to be used by businesses like Overstock and Steam which began accepting Bitcoin during a more plateaued period.
The writer also makes a bold assumption about the usage of BTC in poorer countries:
will a Bitcoin crash take down these poor countries’ banking infrastructure and economies altogether? Somewhat unlikely, but I wouldn’t keep my money in an African bank, would you?
He gives it a "33% chance" that something like this would happen, despite the fact that the prospect of a developing company delving into BTC doesn't necessarily involve them actually
holding or
using Bitcoin directly, certainly not on a large scale.
