This is why you are right:

The internet is free and it is used by 5bn people.

This is why you are wrong:

> People pay to use the internet through broadband charges and mobile data plans.

> Why would anyone need Bitcoin which charges fees (you typically need to allow 10%-15% by the time you've gone through the various exchange processes) when you can use a bank account for free?

> Why does Netflix exist and as a single company is worth 3 x the total value of Bitcoin? On paper, Netflix should not be able to compete or even exist because of Kodi which you can download for free and get more content.

Somewhere between zero cost and high cost, there are 5 billion internet users who give value to different business models.

If you were 100% right in your conclusion, Bitttorrent would not have 150m to 250m users. It would have 5bn users; and Netflix would not exist.

This has never been done before. Even if it were not 100% on target on its mission, it can be tweaked to gain a substantial users base - a user base that could be bigger than Bitcoin's user base.

Doomed?

I've been around long enough to know people with 10,000BTC just say it's worth a punt and throw 100BTC at a project after just 5 minutes of thinking about whether it could have merit.

And I've also seen people who spend weeks thinking about investing in a project, speaking to as many people as they can; only to say - yeah, I'll probably throw $100 at it.

VC's use a scatter gun approach for a reason. Despite their highly intelligent researchers, in the end, they have no idea if an idea will work or not.

If you're such an oracle, you should go work for a VC, you'll make millions. Then come back in 12 months and we'll compare notes on whose made the better investment.