The problem with exploding prices is that volatility inhibits usage as people are scared to go in or spend. But increased usage would make the price explode. Not sure how this can be tackled.
Agreed. I can't see Bitcoin going fully mainstream until the price has stabled out. Any guesses on how long that may take?
But with mainstream acceptance, naturally loads more people will be acquiring BTC. So I would think that would cause value to rise. Then once acceptance has grown to a large enough level, I imagine the price would stabilize.
in that case, it would be considered more of a speculative asset than an actually useful currency. and that's why i think it'll never be a currency, and if it does become one, it won't be for a long, long time.
