What does the future hold for the Bitcoin? Here are three basic scenarios

The cryptocurrency is volatile, costly to store, hard to use and deflationary

In the seven months since Bitcoin’s price peaked, it has fallen by about two-thirds. But it’s still almost three times more valuable than it was a year ago:

So what does the future hold for the world’s first and still most famous cryptocurrency? I see three basic scenarios:

No. 1. Bitcoin Triumph: Bitcoin replaces the dollar (and probably other fiat currencies as well) as the economy’s main unit of exchange. People buy pizzas, finance their mortgages and pay their rent in Bitcoin.

No. 2. Bitcoin as Gold: Fiat currency remains the main unit of exchange everywhere except in a few extremely dysfunctional economies