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!
Typical example of a "dumb critique", you clearly don't understand the simple fact that bitcoin isn't designed to be useful out of the box. It needs applications, use cases and infrastructure to be developed first and then it can be implemented on that foundation. Why would you expect everyone who heard about bitcoin to immediately use it? Regulation is still hazy, volatility is high (naturally from a tiny market cap), it is currently risky in terms of security and it has a long way to go with the applications to be developed for bitcoin to be truly be simple, accessible and useful to the to common people... that is when bitcoin's utility and advantages will become more clear; thus offering more incentive for people to use it. The amount of VC money going into bitcoin development and # of merchants adopting bitcoin are all steps towards that direction. Morons like you who clearly cannot grasp the big picture would say shit like that.
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.
Except.... lets conveniently forget the fact that there is a supply limit for bitcoin (21 million), which is not the case with the USD. The inflation rate and sell pressure from merchants + miners are far outpacing the demand at the moment, which is clearly reflected on the price. But as I said bitcoin has a long way to go before its utility can be realized.... so why don't
you do the math... what if adoption increases so much that there 200 million people who use/own bitcoin.... and if there are only 21 million total bitcoins ever created, how many of those people will be able to own one whole bitcoin? Not that many, and at that point the demand may start to outpace the supply and the price will need to rise significantly. If you truly believe that this is impossible with some short-sighted logic that your grandma knows about bitcoin yet no one uses it RIGHT NOW, then I'm wasting my time replying to you. People call you a troll because your logic is stupid, I would have some respect for posters like you if there was any real thought to your arguments
"No real new innovations around the corner" ?
yeah... ok buddy. I believe you