I'm not talking about the short-term, not the medium-term, but the long-term.
What are best arguments that Bitcoin won't last?
So far I'm convinced by the pro-arguments decimating the con-arguments. But what if there are some damning arguments out there?
Please try to present them, and please present the prerequisites for why those arguments could be valid.
Bitcoin is totally dependant on electricity. EMP everything and Bitcoin is gonne. It makes no difference
if there are blockchain, private key and wallet backups (even those carved in stone make no difference),
unless there is electricity there will be no Bitcoin. I know many here will argue that electricity would be
restored at some point but question remains if that would really happen and if it does if there would be
any use for Bitcoin at that point in time.
I also understand that many here can't even imagine electricity not being available but I'll tell you that
it can happen, and it can happen very fast. I've witnessed myself how fast
a normal situation can turn
into chaos, when there are issues much more important than months-long lack of electricity.
Total blackout, is a rather extreme case, yes it could happen, (EMP, CME X class, circa 1859 etc). Then, does it really matter? Any and all fiat currencies will collapse. Will the ATMs be operational?
Will the banks have access to peoples accounts? The most likely currency in such a case, would be water, food, fuel, guns, ammo, other resources, and maybe gold, silver. People would be in survival mode and instinct response.
In the mean time, a concern would be the block chain size (for most of the people who want the original most secure client/wallet), and of course the time to get confirms, some take hours!
Time will tell.