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RE: WHEN WILL BITCOIN REACH $5,000?
It's all about the brand name, people all over the world know bitcoin. Thats all that matters the masses and third world countries that will adopt it don't care about better tech... as long as it works.
This is not true across the board. Once upon a time there were social networking/media sites called MySpace and Digg that had both market dominance and brand recognition.
those are web apps... not really a good comparison, Crypto functions more like Stock Shares.. which can also lose consumer confidence.. and if bitcoin loses confidence .. all coins will be fucked for a long time.