Satoshi, bitcoin is extremely volatile and run by organizations now, not the people.
Bitcoin volatility is well documented, but do you have a source in saying that Bitcoin is being run by an organizations?
There's constant forks such as Bitcoin Cash and other garbage that shows just how jokey the coin is.
I actually think forks show the exact opposite; it makes a great foundation for some shitcoin some random person is trying to launch. Fact of the matter is, most altcoins were based off Bitcoin, which is a testament as to how solid it is.
The only thing worthwhile is the blockchain itself and I honestly believe this was not meant to function as a method of payment, but as a method of storage(Bitcoin's constant dramatic price changes, good and bad, show this)
It was meant as a method of payment. Whether it is
ideal as a form of payment is up in the air. I personally believe it could be, and that its value will settle down once it actually gets a good chunk of adoption.
My resolution? Dump all your bitcoins on the biggest exchanges and destroy the currency, then start over.
I'm not sure this will destroy Bitcoin. It will cause a massive slide, yes, but recovery isn't out of the question. Not to mention that this will never happen; Satoshi has had every opportunity to be a billionaire and has never taken it. He's not going to take it now.
1) As you can clearly see on
https://blockchain.info/pools Bitcoin mining is condensed into mostly a few pools. Coinbase themselves own the largest % of Bitcoins after Satoshi.
2) Constant forks that are "accepted" undermine Bitcoin, such as Bitcoin Cash, etc. This shows to the average person that Bitcoin is more like play money than anything substantial. Do you see there being any variants of the USD? No, there's only one United States Fiat
3) Bitcoin could never be anything close to an ideal method of payment. There is absolutely no way to solve Bitcoin's volatility currently, hence it will never become widely adopted. Not to mention once Bitcoin's are stolen, the action cannot be reversed(Like it could with banks, etc), and in the future quantamn computing will break into Bitcoin. Those few among many are reasons the average person will never use this crypto to buy groceries at the supermarket. Also, bitcoin is becoming used less, as Steam and others have stopped accepting it due to it's extremely slow confirmation times and high fees.
Bitcoin's exchange value is 100% speculative(it has no basis to it, it could drop to $100 by next week or go to $20,000), it's intrinsic value is based upon the $ it takes to mine one, which is less than $1500.