The only way that Bitcoin is going to recover is if the lightning network gets implemented in 2018. They're quickly losing their heavy majority stake in the market and risk losing the top spot to Ethereum (or other newer technologies) in the coming year if they don't get their code modernized to handle the increase in transaction volume.
I'm sure we'll see a lot of speculative investment in the coming months as more announcements come out about the lightning network. Hopefully it improves the currency enough that it becomes feasible to run small transactions again.
I disagree. Even if it came out in 2019 bitcoin would still be fine. Even as a store of value bitcoin shines compared to almost every coin.
Why do you feel that bitcoin outshines other coins as a store of value?
From my experience with Bitcoin:
All of these factors make for a bad currency. While the transaction fees and speed should be alleviated with the lightning network, that still leaves volatility. Arguably, all cryptos suffer from that one, so lets ignore it for now.
Mostly I feel Bitcoin's actual value comes from:
What scares me about the points above is that I can't find anything related to the underlying technology that gives Bitcoin its value. Everything that makes it a valuable currency is related to the fact that it was one of the earliest coins to hit the market, and it's one of the most widely accepted cryptocurrencies.
With emerging coins having faster transaction speeds, better utility, and lower fees, I don't see how Bitcoin is going to compete longterm, even with the lightning network.
Thoughts?