It seems clear to me that BTC will hit the big(ger) time and relatively soon. But some folks (who do seem to have a good understanding of it) hold the exact opposite opinion. Am I buying into the hype? Besides regulation (which I don't think will end up being a problem in the Land of Innovation and many other countries), how else could BTC go wrong and turn out to be the fad some say it is.
It really all depends on where in the adoption curve we are...

One thing this graphic left out is that innovation can be represented as an arrow straight across the bottom.
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As innovation increases so does the rate of adoption.
My belief is that we are currently somewhere around the late "Innovators" or early "Early Adopters" phase.
Determining where bitcoin is on the adoption curve is really up to you.
Prediction is difficult, especially about the future.