The only real unique property that Bitcoin would seem to have in the long-term would be its history, especially its initial-distribution that concentrates wealth in the hands of few. And that's not an advantage but a liability: if it went mainstream, most folks would probably just say, hey, let's use some alt-coin instead so we all have more wealth (which obviously wouldn't be true for the minority of people who are Bitcoin whales, but why would the majority of people who aren't care?).
Anyway, just commenting to ask:
> There are several things happening, which is reducing confidence. Of course, as a permabull, I believe that these things are transitory.
As far as I can tell, it's all transitory; that much seems plainly obvious. So if you're a permabull, well, why? What future might you imagine in which Bitcoin, specifically, remains a preferred system? In particular, what reason might you have to believe that a Bitcoin you might buy today would have any significant value in systems 20 years from now?
I'm not even asking for a reasonable prediction, but what's even a plausible best-case scenario? For example, let's say cryptocurrency goes mainstream, and everyone everywhere starts using it -- what sequence of events might lead to Bitcoins available today being relevant in such a future system?