Personal thoughts on why Bitcoin is not likely to be the mainstream adoption
Two fundamental issues made me doubt the true reliability of Bitcoin. 1. Miners are not always incentivized to deter 51% attack. There is no mathematical proof that "honest nodes" always outnumber the "dishonest nodes". Because the motivation of mining coins are largely influenced by psychological factors. (e.g. bitcoins can be declared illegal by government, the miners find other more lucrative activities, therefore, less power spent on mining bitcoins). 2. The scarcity of coins is only true as far as bitcoin concerned, because the advance of technology, the odds that a new similar coin with better performance and metrics emerges is unlimited. The new coin can attract lots of mining power from bitcoin, as a consequence, the bitcoin will lose value gradually. This is same for further new advanced coins so that latest cutting-edge coin will always eclipse the monetary value of all predecessors, including Bitcoin.