There's honestly no reason to be bearish on Bitcoin, for any reason, except the centralization of Bitcoin. (Which seems they are proposing) The only thing required to overcome the 1mb limit and maintain it, is to increase off blockchain transactions. This is what Ripple is for and will allow Bitcoin transactions with virtually no limit.
Though Ripple is centralized - does this not beat the purpose of Bitcoin entirely? In essence we'll have created a commodity like gold, but NOT a currency.
Even if Ripple were centralized, which it's not, it doesn't defeat the purpose at all. Because the Ripple protocol is about transactions, not storing Bitcoins with no counter-party risk. If you buy a Gyft card, you have to send BTC to Bitpay, a centralized company. Is that an issue for you? Using Ripple gateways is the same as this or any exchange. Frankly at this point, it's not worth spelling out further because soon most consumers will be utilizing the Ripple network and won't even know it. The point in my original comment was, there's already a working protocol that solves this. That's why diehard Bitcoiners created Ripple, they knew the limitations of the Bitcoin payment network. So, 7tps is not a reason to be bearish, centralization by the Bitcoin devs, would be however.
