There is no reason to speculate on when Bitcoin will crash. Bernie Madoff was able to carry out the largest Ponzi scheme in history and operate as the 6th largest market maker in S&P stocks for more than 30 years.

Take that in… more than 30 years. And we are only really in the first 10 of Bitcoin.

Many people looked at Bernie’s performance and said it was implausible. But belief and institutional cred took away people’s ability to accept obvious facts.

And Bitcoin’s/blockchain’s flaws are all now widely known and even acknowledged by believers. For that reason, thousands of projects have sprung up to fix them. But the fix has no effect. Just like the flaws in any other belief system have no effect on believers.

Even if all the flaws are technically overcome (see perhaps DFinity), the problem remains if you’re a believer in “decentralization”. This belief is the one on top of which all others ride. However, as defined, it is not technically or operationally plausible. When you read most advocates’ description (leaving aside the supposed benefits which are worse than implausible) it is NOT “decentralization”. It is a belief in a fully autonomously operating software and hardware that is infallible.

“Infallible”, or the implication, is a feature of some other belief systems. Right?