I talked to my brother about this recently and while he's not an expert on bitcoin he does work in the financial sector on wall st. as a financial adviser so it is his job to be in the know. It's what he's been doing for a living for the past 20 yrs.
I'll probably butcher this as i know literally nothing about bitcoin and he was a lot more technical breaking it down but this was his take for the most part.
The blockchain technology is the future. It's not a question of if but when. Eventually it will be implemented across the financial sector because it has so many applications to work across many platforms increasing time efficiency, less need to verify, process & store enormous sets of data, less man power needed, easier to track translations which works a bit like a time stamp that is a very definite thing that cannot be tampered much if at all so it's more secure and there is less risk for things like fraud.Currently investing in the short term Bitcoin is not really super risky but at some point because it's not backed by anything and once the tech behind it becomes adopted as an industry standard there will be alternatives using the tech that are actually backed so when that happens bitcoin will likely become too volatile making many people panic and pull out so all the people that are late jumping ship are taking a huge gamble on it if they don't get out at the right time.Bitcoin itself probably isn't gonna last as far are being a safe thing to invest in long term. Once the technology is adopted as the industry standard then bitcoin itself is probably going to become the myspace of e-commerce with the majority jumping ship so there won't be enough people left with skin in the game then the value is gonna crash making it virtually worthless so if you don't get out at the right time you'll be left holding your a$$, scratching your head wondering WTF just happened. It may not happen but it definitely could so he personally wouldn't advise people to invest much in it unless they're doing it for quick gains. Long term it's probably too risky.
Stomps essay Cash lol