The summary is a coin flip in essence.
It did, however, get me to think about this question: Is there a point where enough "fools" get involved that Bitcoin becomes "too big to fail"?
The summary is a coin flip in essence.
It did, however, get me to think about this question: Is there a point where enough "fools" get involved that Bitcoin becomes "too big to fail"?
But the way more usual outcome is that a bubble pops, not that it is lifted into infrastructural status. (But yeah, both happen, just with widely different rates.)
At this point the most anxious investors will start selling their coins, fearing a crash. This in turns causes the value to start dropping and then you have a runaway effect as more and more people want to dump their coin, crashing its value more and more.
The Economist is not really written having crypto enthusiasts or HN crowd in mind. The article is a decent summary of the current state of affairs to someone who's just curious about what the hell is bitcoin.