> Pretty sure I didn't claim it was "bad."
You implied negativity with your "fork+pop your bubble" comments. To claim otherwise is being intellectually dishonest.
> I understand enough about the forking that is occurring to understand it isn't altruistically driven.
They are probably 99% scams IMHO.
> so of all the forks how many are instantly exchangeable between each of the other forks and into the foreign currency of one's choice?
Im not sure the validity of that test. But Id say only a minority of forks are listed on exchanges. With very low volume. I personally dont use any. When a fork happens and I receive the "free" coins, I just sell them for BTC.
> For legal transactions, Bitcoin technology as a form of money is entirely beholden to government approval or as a minimum non-interference.
> let's say Bitcoin gets some large powerful constituent behind it
This is in progress. Keep in mind, Bitcoin is new and growing. No one is claiming the Bitcoin ecosystem is complete. Fidelity is adopting. ICE is launching a Bitcoin company
(w/ Microsoft and Starbucks)
> United States government acceptance at some level is implicit in their approval to trade
USG also has SOLD Bitcoins they seized from drug markets. If that isnt a nod of approval (so far), I dont know what is. They dont sell cocaine from drug busts.
> I am not saying all Bitcoin variations are frauds, but there are many that are.
Probably all variants are. But if something somehow shows as a better future sound money candidate than Bitcoin, Id jump there.
> Until then, in my humble view, it is a minor sideshow composed of true believers, speculators and outright fraud.
I agree with this 100%.
> my USD Visa has worked without a hitch the entire time.
I said as much in my previous comment. But you seem to be focused on Bitcoin exclusively as a payment rail. There are plenty of payment rails out there (credit cards, paypal, apple pay, bank transfers, cash app and the like, etc). In fact, I think it is ridiculous to spend Bitcoin unless there is some discount or other reason to do so. If you believe it will be money in the future, its worth, per coin, in order to have liquidity to support any small % of the economy will have to go up something like ~100x.
Bitcoin wasn’t created to compete with any of these payment mechanism. Bitcoin is out to compete with other *monies* and central banks.
There will probably be layer 2 technologies on TOP of Bitcoin, using bitcoin's "money-ness" for fast *payments*. Look into Lightning Network. But that stuff is still being proven out.
I think you should consider a perspective of "Is this Bitcoin thing on track to be a future money?" instead of "Its not perfect and used everywhere today".
I think its really hard to argue Bitcoin isnt moving in the direction of money. See here for one idea of path to Bitcoin becoming money: https://medium.com/@vijayboyapati/the-b ... ecc8bdecc1
Sure its volatile and not widely spread. But that is part of what you would expect to see with a new non sovereign asset working towards being money. Sure doesn’t mean its inevitable. "They laughed at Columbus, they laughed at Fulton, they laughed at the Wright Brothers. But they also laughed at Bozo the Clown. " and all that. I get it.