This time it is different and It’s a new paradigm.
To be fair we are dealing with a very fundamental property that is the nature of money itself which almost all of us need every day.
But I believe you were talking about Bitcoin specifically and I agree that Bitcoin centricity is a problem but I don't think we can escape that until the masses are educated about other currencies as well and see them as better alternatives. While I do think 2018 will a big year maybe it's just the year for Bitcoin bubble coming down, and that taking other cryptos also down. Who knows.
Or maybe Bitcoin keeps rising and then slowly fades to the history with the years to come as the "first crypto to start it all" but as an outdated solution, like the first steam cars. They might be cool, but like Bitcoin in its own unique technology, not a sustainable solution for a really long term (5+ years or so).
All in all you had some good points and in the euphoria we are experiencing it's always good to be aware of different possibilities. Knowing both sides of the coin is never a bad thing.
Enjoy your crypto earnings and Christmas holidays!
Thanks for the great comments.
You are correct I am primarily talking about Bitcoin and some of the crazy going on there with the potential for a Bitcoin bubble bursting and bringing the rest of the market down with it. There are risks on the periphery but anything that hits Bitcoin hard will hurt everything.
I personally would like to see Bitcoin pushed aside, some of these obvious scams flushed out and money can then flow into the newer innovative cryptos that can take the market and technology forward. I doubt it could every be an orderly transition though so that is why I am cautious off a boom-bust transition.
Luckily is seems like the market is now catching up with Bitcoin; BTC dominance has now come down to 57.5% from the 60+%