Which concepts in particular are you referring to?
That is fair. Do you think this is an insurmountable disadvantage?
>and transaction volume.
I don't know about that. Bitcoiners have been very vocal about the regularly increasing transaction volume since its inception. See https://blockchain.info/charts/n-transactions-excluding-popu...
In other words, whenever you use Bitcoin you take on FX risk. This means, that Bitcoin is something you wouldn't want to store value in for the long-term.
Hedging that risk will also prove a major headache, since there aren't that many Bitcoin contracts out there, and the ones that are, carry some major credit risk with them.
It requires (electrical) power. I don't think this could reasonably be called "friction". When I think "friction", I think of burdens imposed on users. Bitcoin has relatively few of those.
BitCoin is faux money and will likely be recorded as the "Dutch Tulip Bubble" [0] of our times.
Intentions and wishful thinking alone are not enough to create revolutions. Crises are invariably required to change such fundamental concepts as value of currency in the public's mind, and it has to happen on a massive scale in a tiny span of time. BitCoin will be no more than the butt of jokes in another decade unless it finds it's destiny in a crisis made for it to shine.
>BitCoin is faux money
Could you expand on this? How do you define "faux" money?
And really, linking to the wikipedia page of tulip mania, as if we haven't heard that trope 10,000 times?
