Bitcoin is a “wannabe” asset hindered by price volatility and security concerns, a recent report by Citi’s analysis project said. Ultimately, it argued, Bitcoin is only worthwhile for its blockchain technology, which should be separated from bitcoins and used to secure transactions in fiat currency and other assets.
Bitcoin is interesting, but not worth much yet.
Bitcoin doesn’t have great potential as just an alternative asset.
Security, price volatility, and regulation are problems for Bitcoin.
Solution: the blockchain is the most interesting thing about Bitcoin. We should take bitcoins out of the picture and use the Bitcoin cryptography and ledger to secure fiat transactions.
“The BTC commodity/currency will be more like gold, the base of the monetary pyramid, and its value will be buoyed by the demand for shorting it into dollar coins. This is the future of Bitcoin adoption.”