derp dee derp... OK, first of all, everyone has heard about bitcoin, including my infirm 89-year-old grandmother, and yet, nobody is buying them! And it's obvious why. They don't want to entrust their savings to a digital, unregulated wild west playground. Especially when news of high profile hacks and cyber warfare are making the news on a weekly basis. People don't trust their personal information online (for good reason!) so why the hell would they entrust it with their hard earned money??

"But, riiiiising, you can't say nobody! I'm buying them, and there are thousands of people on reddit buying them! We're smart sophisticated young men!"

Yeah, because they all hope to get rich quick. Of course, they've had to readjust their expectations during the past few months, but the only reason they're still interested in bitcoin is because they're hoping and praying to make back their looses. They'll tell you, "I'm in it because I love the technology." Aside from a handful of developers who actually care, this is just what they tell themselves and others to make it sound like it's not an investment scheme. I'm not saying it is a scheme, but it carries some of the same characteristics.

Couple this with the fact that bitcoin supply is inflating at ~12% a year, which is way more than the USD or any other major currency. So do the math. Tepid demand, too much supply, and no real new innovations around the corner. The market doesn't care anymore when a company adds it as a payment option. It would take nothing short of a sovereign country adopting bitcoin as its national currency to get people interested again.

If you still don't get why the market is imploding... then you're just a stupid. I'm sorry.