I agree. I found myself going through different stages of thinking about bitcoin. I mined early in 2011 and almost sold all of my bitcoin thinking that it would crash any day. Having witnessed three supernova price movements and bitcoin coming quickly back each time settling on a higher value, it does not look like a "penny stock" anymore that would be dead after just one such run. It might be the single simple fact that BTC generation is predictable that creates a pull for people who are willing to bet part of their savings on it. If enough do that, bitcoin becomes a value storage system - self fulfilling prophecy. If that's the case we are just at the beginning.

Not at all, if "...or it will fail and it will be worth nothing" is a possible scenario. If you buy every week, any catastrophic event that makes bitcoin worthless would still wipe out your retirement savings before your bi-annual reevaluation is due.