The fact that all of us are talking about BTC shows its widespread notoriety/popularity which in itself has value.
Let's not forget that fiat currency is a great vehicle for germs and viruses which will likely spur the move away from it as the risk of pandemics spread around the world. U.S. notes have even been found to contain traces of cocaine, tied to the lucrative drug trade. Not to mention the illicit effort to counterfeit paper money.
Also, governments facing austerity would save millions from not having to print and mint. Bitcoin is the logical next step in the evolution of finance and money.
Prominent business news network like Bloomberg have entire segments devoted to digital currency. This is when you know the scale is starting to tip in BTC's favour as far as clout and adoption.
With institutional money pouring in and an array of startups cropping up around it, not to mention municipal governments accepting the currency to pay tax bills....it seems Bitcoin is very much on track to become a mainstream store of value--like gold.
Remember, gold has practical uses but is essentially a mineral we mine out of the ground...Bitcoin is mined, too, and has practical privacy, security, and expediency uses. The U.S. prints millions of dollars a day despite being trillions in debt...but, hey, it's backed by the worlds biggest economy so no one bats an eye. Only because the dollar is officiated as a means of exchange.
The digital currency market itself is worth billions...not indicative of a 'fad' but rather the beginning of a revolution. Universities offering blockchain degrees for a fad? I don't think so.
Yes, we all lost money chasing the next 'big thing'....but how many car companies before Tesla went belly up before Elon was able to punch his way through all the barriers? Lots. Why would an electric car with 100% torque on demand at 0 rpm not become a national objective? Politics. People stand to lose from the other side of the aisle--always.
So a guy named 'Charlie' from Berkshire Hathaway says blockchain is going nowhere? Well, with all due respect to his accomplishments and service, he represents the old guard that is uncertain of unregulated new technology...those types pour money into blue chips stocks and sit on it for 30 years and wait for a handsome return. These guys operate on what's tested and true. Wealthy people don't like to bet on something that's not a sure thing. People who do not understand what blockchain tech is will understandably be wary of it. Out of the box thinking is not a strongpoint in these circles.
Innovations does not occur by sitting on our laurels and pontificating on the merits of this or that. Why did we go to the moon? Not because we had to but because we wanted to. Bitcoin will go to the moon, too, simply because the will is there. Market sentiment and optimism will push it further.
As far as investing into Bitcoin, I wouldn't touch it with a ten foot pole, even if I could...too many sharks in the pond and my stomach isn't suited for it. However, the practical use cases are simply too profound to ignore.
Really, after the $700 billion dollar bailout of the banks in 2008...who really trusts these ravenous institutions? I certainly do not. I trust the common man...and Bitcoin is for the common man (and woman).
-end spiel
