So I am a big bitcoin enthusiast, but I realize it has problems. Also more and more people are trying to perfect their algorithms.
What if they reach their goals and bitcoin becomes irrelevant?
The price drop isn't showing that great either!
I can only speak based on the evidence and so far it seems that even if Bitcoin prices are slumped there is no coin whose price is anywhere near Bitcoins, thus to say that if BTC collapses entirely only then BTC will become irrelevant and replaced by its competitors.