Bitcoin is a little toy that's been played out
Unless you've been here since the single digits, I don't think you have the authority to make such claims.
as someone who has been here since sub single digits, it is possible to get stuck in one's own little echo chamber.
but when i step back and look at the progress since i first learned about Bitcoin, the only change i see is massive progress. it's come further, faster than i ever expected. and it's still only 2014, with my outer bound time limit being 2020.
1. protocol still intact w/o a major hack or bust
2. mining security
still growing exponentially-makes me calm and happy.
3. significant merchant adoption beyond expectations with Dell, DISH, Overstock, Expedia being great examples. and there are more coming. and they WILL begin offering discounts to lure buyers.
4. record # wallets-blockchain.info >2M
5. numerous positive news articles all over the world of adoption successes. this protects against a major adversary like the US gubmint.
6. derivatives exchanges beginning to be established to provide greater liquidity and depth (gotta be careful about this to prevent naked shorting, but still overall a positive).
7. ASIC mining companies pushing the limits of 20nm and lower tech. soon Intel and AMD will follow.
8. improvements in wallet security. i don't understand how ppl keep getting hacked. i've never lost a coin.
9. certain gubmints lightening up and looking more positively on Bitcoin unlike the NY clowns. places like Switzerland, UK, Singapore, etc. The discord will guarantee that Bitcoin flourishes somewhere.
10. gold and silver faltering-a move of just 5% out of that market into Bitcoin will jack the price.
11. stock mkt potentially topping-i think problems in the real economy will help Bitcoin with flows seeking safety.
12. bond mkts at all time highs-if we get a rise in interest rates, same thing. 5% of flows from there into Bitcoin will jack the price.
13. forex mkts-largest mkt of all with only one direction for the future values of all fiat-->DOWN. 5% flow from that mkt will jack the price.
14. real estate starting to suffer again-avg Joe looking for yield no where to be found except maybe Bitcoin. it is The People's Money after all.
15. halving of the block reward 2 yrs out. we'll probably get a huge rally as that draws near. now's the time to buy when others are selling. they'll be back for sure.
I could not have said it better. In fact most days I am speechless as to how far this "experiment" has come.
