Bitcoin reaching 5 million sounds like a thing never bound to happen ^^ It could potentially be used as a personal bank, but that's all. Volatility might be one problem, it's technical aspects are far worse. Waste of energy, waste of money during transactions, and it takes far too long for transactions to be made. I don't get how people can say it will continue to rise as the number #1 currency, while in fact it just can't scale with the demand...
Yes, I agree with you. It is strange that people are so bullish on a technology that is outdated. However, I believe that the digital asset space is pretty darwinistic (survival of the fastest adaptable) and that some other coins will climb up the ranks. I am not a technologist, but all this hardforks looks a little scammish from the outside and also a kind of inflation. BTC should decrease after a fork which it did not, which is not rational and pointing to a information asymmetry of the participants or just plain manipulation. Cryptocurrencies are not really that scarce in my definition of scarce. Gold is scarce.
It must be Logician thinking but I had the exact same thoughts ^^ Once enough people realize what the Blockchain can actually do they are gonna look for the best suitable ones to fit their needs (hint, hint, EOS ;p). Bitcoin is far from being the best candidate when it comes to actual utility.