Yup. If you read Bitcoins white paper again, you realize that it proposes a micro transaction system for the web. And it has failed absolutely as that. And with

Yup. If you read Bitcoins white paper again, you realize that it proposes a micro transaction system for the web. And it has failed absolutely as that. And without a natural demand for it, the speculation around it is gibberish. It is waiting for a future that nobody, not even the people that have bought in, is working for. Since how can people HODL a "currency", and at the same time that currency attain status as a common mean of exchange? And it's usage as a hedge or value conservation is even more laughable. During an economic crisis, people are looking for work, for ways of putting food on the table. Assets like gold maintain their value due to the natural demand from jewelry and industry. Nobody is looking for internet funny money during a crisis. If you look at it's price history graph, it basically follows the stock market hype and fear periods, without any of the fundamentals of companies actually producing value that sustains stocks in the long run.