After spending much time as a guest on this forum learning all I can about Bitcoin, I finally decided to join. Glad to be here and thanks for all the great advice along the way!
Now I have a question I'd like to ask. Is Bitcoin going to get to the point where it is too big to fail? The government bailed out Wall Street to avoid a financial collapse. Can Bitcoin gain the same status as Wall Street? The market cap is steadily increasing making it a big player in the game and I'm looking forward to where it is headed.
Thanks in advance!
Theoretically speaking, bitcoin could still possibly fail in the future. But no one actually knows what lies in the future of bitcoin and the things that will happen in the market. The only possible reason that bitcoin will fail is when the market no longer runs and people started withdrawing all their investments from it. But since the infrastructures around bitcoins market is starting to grow, I think for now, we can say that bitcoin is just too much for it to fail.
True, bitcoin can possibly fall but not now, bitcoin still holds a large number of investors and with so many people believing and still using bitcoin in the market even with high transaction fee, bitcoin can never be weaken to the point it will suddenly collapse. Maybe in a long run bitcoin will loose its value slowly, but as of now, if bitcoin looses some of its value, many would take the chance to buy bitcoin thus increase in its price will take over to the point that no one would buy again due to the high price.
This is a shaky assumption. I guess people during the dot-com era had been saying something along these lines. They also believed that there were a large number of big investors and that the bubble which built up back then would never collapse. But it did collapse because it was a bubble with mostly nothing behind it. Today's Bitcoin and altcoins are like dot-coms of early 2000s. Many of them failed quickly, though some managed to survive.