Oh no!!! The price of BTC is dropping because of this and that. Who cares? I sure don't, because I am betting on the potential of Bitcoin as a medium of exhange in the long term.
I love how people don't get that many are super long on Bitcoin because they understand it will be how money is commonly exchanged in the future. It's not just speculative. There is no central authority and no one single company pushing it, so yes, so the development of payment networks, apps, infrastructure, and so forth is taking a while. Look at innovations like SegWit and the Lightning Network. These are only the beginning. The improvement of renewable energy should help with mining as well.
As Mark Cuban put it, Bitcoin will reach the masses when it's so easy your gma could use it. Well, it's taking time, but the technology that will be behind bringing Bitcoin to the masses will be no more complicated than the technology behind paying with a debit card at the grocery store. You just don't think about it because they have boiled a system that reads a chip and then instantly transfers funds from your institution to another across hundreds or thousands of miles down to a simple POS swipe, insert, or tap.
When people can figure out how to use it more easily, I can only imagine how high the price of BTC will go. Will people buy houses with bitcoins someday? No. You won't spend a "bitcoin" in the future, because even a Bugatti or a mansion won't cost a bitcoin. Instead, people will buy cars and houses with Satoshis. Look at the Shift card. That was a major step towards what I think mainstream adoption will look like. It just didn't work out. But others will step up and takes their place.
If you don't think it's at least worth a flier long term, well...then I just can't help you. I would rather dump 5gs into BTC right now and end up losing it all because my thesis was wrong than to find out in 20 years I could have been a multi-millionaire if I would have only had the guts and foresight.
The other day someone told me they didn't get what makes Bitcoin valuable. "Like I don't get where its value comes from?" they said. They have been taught that the government backing a currency is the only thing that can make a currency valuable. It's not. The dollar is really valuable because people agree it's valuable. If the zombie apocalypse started tomorrow, would gold be currency? No, food, water, guns, and ammo would be currency because that is what people would agree is valuable. The idea that a government has to back a currency to make it valuable is the idea that will eventually become outdated here. I believe people will all agree BTC is valuable in the not-so-distant future. It's a risk I am willing to take, and I think others should too.
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