I don't think I can have 100% confidence that I would be able to cash out of bitcoins in an efficient manner 10 years down the line, so you have to discount for that risk (whether it be technology, new regulation, etc).
It doesn't have to be "revealed as a sham", it has to simply not be worthwhile to continue using. I see the speculators as being far more harmful to its long term viability than any nation-state.
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I don't think I can have 100% confidence that I would be able to cash out of bitcoins in an efficient manner 10 years down the line, so you have to discount for that risk (whether it be technology, new regulation, etc).
As much as I like the idea of BTC, it lacks fundamental structural features that would allow it to not eventually be revealed as a sham.
It doesn't have to be "revealed as a sham", it has to simply not be worthwhile to continue using. I see the speculators as being far more harmful to its long term viability than any nation-state.