The Bull(****?) case for Bitcoin

Zombie Asset or Immortal Money Replacement?

To be honest, I think that bitcoin is less polarizing than it has ever been, the price is high yet flattened, much less opportunity for gains exist today than twelve years ago, and the financially aware public has realized that the “crypto-space” is a cesspool for pump and dumps and outright scams. It is wise to steer clear of this space entirely even if the main star bitcoin is not fraught with the same problems of the others. This reminds me of the trajectory of marijuana as a drug in the public consciousness. People have realized that weed is much less harmful than most other drugs, including alcohol, but at the same time, a stoner lifestyle is less glorified and appealing than it ever has been. So you see a clear divide between enthusiasts and those who are disinterested.

In this environment, no one really needs to be told what to think about bitcoin, as there is a plethora of information and history to look at. While enthusiasts will spin it completely different than others, we have a clear track record to look at. Anyone willing to do some research can see both the good and the bad: unfulfilled promises yet a persistence that it refuses to go away. But compared to its early days, advocates seem more focused than ever on one particular issue: bitcoin in opposition to fiat. Because it is scarce, they say, the price only goes one way! To me this sounds like the exact thing they claim to oppose: free money forever!