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RE: As Bitcoins Price Retreats Continue To Get Larger and More Pronounced, The Possibility Of Bitcoin Loosing Massive Support Becomes More Likely.
I share a lot of these concerns/thoughts, and think Bitcoin is vastly inferior to some other cryptos when it comes to their functionality. I don't think Bitcoin will continue to have this massive amount of support that it currently enjoys.
I completely agree. I started out as a hardcore bitcoin believer, but looking at the facts about bitcoin compared to other projects its highly unlikely that Bitcoin will be able to support anything like what we see now in the long term.
I agree with your point of view, but that is not the full story.
What about worldwide acceptance?!
Bitcoin is hugely accepted now. I mean buying and selling Bitcoin with fiat money is much easier than other coins. Many merchants now accept Bitcoin. So many regular people are hearing about it more and more often. That was not achieved easily.
So, maybe you right about the features of Bitcoin, but that does not mean it will lose value soon. That would take a very long time.