I'm not on-board with bitcoin or any other cryptocurrency. But not for the usual reasons.
I'd learned long ago that the existing national currency systems are entirely faith-based, the difference between specie-based currency vs fiat paper schemes, the long history of fiat currencies always eventually crashing to zero value, how the fractional reserve banking system is a wealth-theft scam run by the global elites, and so on. Basically we the people don't have anything that serves as a reliable, allodial (owned by holding it in your hand) store of wealth. Something that can't be taken away from you by the stroke of a government pen. (Which includes by inflation, that results from excessive creation of fiat currency, and is a deliberate, calculated form of asset theft from the people.)
Also the data tracking measures being built into the existing financial structure, the anti-cash push, and so on, pose a severe threat to individual privacy and freedom. Elimination of which is the deliberate underlying intent of the anti-cash push by many governments world wide.
Gold and silver can be used to convert fiat currency to a value store that can be kept and hidden long term, but they are still subject to a rigged-market price suppression scheme, in which large amounts of paper 'gold certificates' can be created out of nothing and dumped on the bullion markets to knock the spot price down as required by the banks. (Which is what happens all the time.)
Theoretically, cryptocurrency could solve many of the problems inherent in government-mandated fiat currencies. The intrinsic ceiling on the total number of bitcoins gives the currency some of the benefits of a true gold-backed paper currency (ie physical gold can't be created out of nothing in vast amounts, thus smashed in hyper-inflating worthlessness deliberately or otherwise.)
Cryptocurrency strengthens privacy and freedom, by allowing hidden yet reliable stores of value, and anonymous transactions.
In general I think cryptocurrency is a great idea. Not sure about the specific implementation though. The complexity and reliance on fragile computing/data stores is a definite handicap. Another severe problem is that virtually all existing computing platforms are riddled with back door access means installed by intelligence agencies in cooperation with the manufacturers, not to mention unintentional security holes.
In the early days of bitcoin I paid it some attention, considering whether to jump into it.
I decided not to, because:
* There were continual instances of large scale theft, scams and failures, demonstrating that it wasn't as 'secure' as claimed.
* I knew it could take off, and rise greatly in value. But also knew I'd never be able to predict the cycles, and so 'buy low sell high' isn't as easy as it sounds. (I already proved to myself I couldn't predict such things with gold and silver.)
* Cryptocurrency will definitely be fought against tooth and nail by governments. It is a direct threat to their power base, and to the Elites that operate governments as a control facade. There's no predicting how extreme official suppression measures may become. And I don't want to find myself a target of such measures.
* Most important reason: I already have a primary project, that deserves all my attention. I already don't have enough time and energy to give that. So I at least try to minimize side track projects. Bitcoin would easily consume a lot of time. Not just setting up a miner, but following the technical and political developments - several hours a day to stay in touch.
So I dropped my interest in it. Now rarely pay any attention. Take the current price spike with a shrug, much the same as with my mistake in not buying an Apple I board when they came out (currently would be worth about a million bucks.)
So today I will be working on building a side awning on a workshop, to get some large stuff out of a space that I need free, to set up a big old lathe I recently bought, to make some components for a vacuum system, that is part of 'that project'.
The recent bitcoin developments are interesting. But they are just one of dozens of fascinating and significant ongoing world developments, virtually none of which get any mention here in eevblog.
Edit:
Oh, ha ha, I popped into this thread to post this link, then forgot:
http://www.zerohedge.com/news/2017-12-03/three-economic-eras-bitcoin The Three Economic Eras Of Bitcoin