1. Main advantage of it is that it can't be stopped.
2. Since it can't be stopped - it allows to evade any regulation from the government or the bank. If it replaces banking system - you can move around the globe with your capital and spend it the way you like. This is not the case at the moment
3. Bitcoin could become a currency if it was fast enough and fees were low enough. Which was quickly discovered to be not true since the complexity increased, transactions slowed down and no one agreed to upgrade block size since this is additional costs to mining.
4. Since bitcoin now is slow and expensive industry found another way to use it - store long term value without risk of government to inflate currency and steal your money. point#2 is still valid. Recent surge in prices is caused by this reasoning in my mind.
5. Since everyone earned enormous amount of money in past months people will keep hodling expecting the growth to continue, but it will slow down. Once it slows down - people will start selling to get their profits and there will be huge correction.
6. In the very long run bitcoin can go through multiple cycles of such growth and decline and either will become more predictable (community will come up with some rules on how bitcoin fees and speeds are regulated etc.) or will stay this a bit more dangerous but a but more free way to transfer value geographically and also over time.
It probably could be more dangerous to world governments if point #3 realized
If more countries outlaw exchanging bitcoin with fiat commercially (for example because of its detrimental effect on the environment), bitcoin's value will decrease.
1. Main advantage of it is that it can't be stopped.
2. Since it can't be stopped - it allows to evade any regulation from the government or the bank. If it replaces banking system - you can move around the globe with your capital and spend it the way you like. This is not the case at the moment
3. Bitcoin could become a currency if it was fast enough and fees were low enough. Which was quickly discovered to be not true since the complexity increased, transactions slowed down and no one agreed to upgrade block size since this is additional costs to mining.
4. Since bitcoin now is slow and expensive industry found another way to use it - store long term value without risk of government to inflate currency and steal your money. point#2 is still valid. Recent surge in prices is caused by this reasoning in my mind.
5. Since everyone earned enormous amount of money in past months people will keep hodling expecting the growth to continue, but it will slow down. Once it slows down - people will start selling to get their profits and there will be huge correction.
6. In the very long run bitcoin can go through multiple cycles of such growth and decline and either will become more predictable (community will come up with some rules on how bitcoin fees and speeds are regulated etc.) or will stay this a bit more dangerous but a but more free way to transfer value geographically and also over time.
It probably could be more dangerous to world governments if point #3 realized