Bitcoin will fade for the same reasons that first-generation technologies always fade. The sooner the better.
Completely wrong.
First of all, old technologies don't always fade.
Second, Bitcoin is constantly evolving. As soon as someone creates a coin that is not total shit, bitcoin will add it's features via sidechains.
LOL yeah, sidechains are the new hope.
First-gen technologies don't go away completely. I rode on a real steam train not that long ago, and I have a friend who still has a VCR.
Don't forget incandescent bulbs! Way better than CFL's.
Bitcoin suffers from block times that are too long to ever make it completely practical in a face to face situation (like in a brick and mortar store). Not impossible mind you, just not practical. And I see no way that there could ever be a consensus to change block times. It would require fundamental changes to the difficulty calculations and conceivably the total coin supply. In my opinion a digital currency with faster block times will eventually succeed where bitcoin never can due to that limitation alone.