If it can only rise then why is it often dropping? There are no guarantees in this social experiment. I believe it has a future. But my opinion plus a cup of coffee equals... a cup of coffee.
To quote Albert Einstein: "as far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality."
In reality, there are a lot of factors to consider. Market manipulations. Human fear and stupidity. Unawareness. Computer glitches and human errors. etc.
But if you truly understand the mechanism behind Bitcoin as a cryptocurrency, you would be baffled as well as to why there can be drops in its price when
it should be linearly increasing in an ideal, purely mathematical and logical worldReferring to bolded section, I'm not sure that anything is really being said here. This is what it seems like you're saying:
1) The price can only go up in "an ideal, purely mathematical and logical world."
2) We don't live in such a world, so the price goes down sometimes.
Here's my question: In "an ideal, purely mathematical and logical world," who is going to be the idiot to sell their BTC to the first buyer?
If A buys BTC from B, then A is saying "the BTC I bought is worth more to me than what I paid for it," and B is saying "the money I received is worth more to me than than the BTC I sold for it."
Basically, I'm just pointing out that it's not baffling whatsoever as to why the price drops. For every buyer there is a seller, and it's just sort of nonsense to talk about a hypothetical reality which is so far removed from the reality we have now.
Oh, btw, a money that linearly increases in value up to infinity without dropping implies that nobody is ever using that money to buy anything, ever. Sort of defeats the purpose of money in the first place, don't you think?