> If BitCoin can survive long enough to see more widespread adoption of it as a currency
My question is why would it see widespread adoption? The only reasons I can think of are: it allows anonymous online transactions, has low transaction costs, is not backed by a government, and is interesting on a tech level. I am not sure these reasons are good enough to cause widespread adoption.
Businesses want low transaction costs, but most business face competition and the customer decides the transaction medium. For instance, my company accepts paypal, not because I like it but rather my customers do.
Of course a company with monopoly power could force adoption. For instance Bitcoin would take off if your utility companies only accepted bitcoins, but I don't think that is likely.
My question is why would it see widespread adoption? The only reasons I can think of are: it allows anonymous online transactions, has low transaction costs, is not backed by a government, and is interesting on a tech level. I am not sure these reasons are good enough to cause widespread adoption.