I agree the battle is far from over for the long-term viability of Bitcoin. So to clarify, early questions of “is it a Ponzi scheme?” or “does it have intrinsic value?” are not the issues anymore, but rather how to make the system consumer friendly(ier). Mainstream media tends to latch on Bitcoin’s price volatility and talk about it only as a currency. What really is groundbreaking though, is the blockchain, and related tech.
Us living in the industrialized world do not really need Bitcoin per se, like we didn’t need the internet in the late 1980’s. We have access to bank accounts, lines of credit, crowdfunding, 401k’s etc.; it’s the people in countries with oppressive and corrupt regimes, sky-rocketing inflation, and non-existent banking that will benefit the most from a decentralized, secure, frictionless payment system and currency like Bitcoin.
But yeah, we’re still some years away before Bitcoin (or an alternative cryptocurrency) is as common as credit/debit cards. In the meanwhile there are plenty of battles ahead, trying to convince governments and big money, that Bitcoin is not “special illegal money for buying drugs”, at least no more so than a wad of U.S. Dollars or Euros.