> we're going to run out of new BTC to mine sooner or later
as it's not a question of "sooner or later", the supply schedule is fixed and well-known. But even more:
> At that point, the incentive for mining (a process essential for reconciling the public ledgers) will disappear and the currency will ... will what?
... will be driven by mining fees. Or maybe it won't, which is also a reasonable guess. But suggesting that we have no idea and no plan is disingenious.
Also:
> if, as I think, BTC doesn't deliver, then the bubble will eventually burst.
It's not necessarily an all-or-nothing thing. Is 10'000 USD overvalued? Maybe, but that wouldn't mean that the actual value is 0 USD, only that it's somewhere between 0 and 10'000.
And:
> A working distributed cryptocurrency model is inimical to the interests of billionaire monopolists who want to get rich by imposing rent-seeking practices [...followed by regulatory phantasies]
I also think this argument is mistaken. The easiest way of rent-seeking for billionaire monopolists would be to buy Bitcoin and just wait and reap the rents.