One thing I really wonder though is this, can this kind of price rise happen in the short term without any sort of scaling solution?
Yes. Understand the role of Bitcoin is not retail transactions:
Yes to altcoins, maybe to bitcoin itself. There's nothing in the altcoin scene except pure gambling and scamming--and that doesn't interest me in the least.
Bitcoin is pissing me off. I'm currently buying something with bitcoin, and the transaction is stuck in the blockchain. Would have been so much easier to buy with cash, and that's what I'm doing next time. It's ridiculous. And this forum is a cesspool of degenerate retards.
Same experience. I fail to see the utility if it isn't to feed institutional players which will take in (or have already taken in) most of it, like gold in the old days.
Bitcoin is the reserve currency for unregulated speculation and gambling. That is very important. It isn't going away. And it will only grow. Open your mind a bit.
We absolutely need Bitcoin for when someone such as myself (or someone else similarly capable who is healthy) actually produces an altcoin that can generate significant adoption (i.e. the World Wide Web of blockchains invention), then Bitcoin will serve the critical onramp role that modems served for the WWW. This is
network effects and the Second Computer Revolution (analogous to the First Industrial Revolution of industrial production of raw materials enabling the Second Industrial Revolution of factories).
As
I wrote upthread, we are in the "WALL OF WORRY" stage. Don't become complacent! The nascent decentralization movement will take over the world. Just have a little bit of patience.
Look the 150 - 160 IQ inventor of open source has recently stated (
after I prompted him) that he
might be interested to come in and work in our ecosystem (I personally will try to recruit him if I can get healthy and get my project rolling).