Um Ok think about this... Even at the current rate $1.4mil in BTC is mined DAILY! It cost half a million per day ($500,000) in electricity just to create that "value"... Market price means nothing these are now a few huge institutions controlling the price constantly buying and selling to each other for profits (hence the massive sideways trading then organized dumps) Everyone retail is holding this now as speculation for $1,000 per coin but they don't understand that will make the market cap over $14 Billion dollars and we can barely hold on to $5mil market cap LOL! All this talk is hilarious blabber by people who can't calculate. The dumbest governments in the world are printing cheaper money!
A 'few huge institutions' buying and selling to each other is not an effective way for each of them to turn a profit.
You sound very much like the folks in early 2011, throughout 2012, early 2013 and still those in the Fall of 2013. They have all cited various reasons for the imminent doom of bitcoin, but the one thing they did have in common was an outlook that failed to materialize.
The evidence you've provided is hardly a compelling reason to suggest the collapse of bitcoin, and particularly not in the face of other factors that counter such a 'revelation'.