Bitcoin Forum

I think bitcoin is a great idea and originally for the purpose of sending and receiving goods and services,from are own private bank accounts ie wallets and to avoid fiat currency inflating the value of are money away.So when did alt currencys and bitcoin become stock exchanges to trade for one another?At the moment it is looking like a dot com bubble,from the gambling going on with the exchanges and alt coin gamblers.How will this effect cryptocurrencys in the future?Could it destroy cryptocurrencys?

Really good quesiton, now the situation i think it is more and more clear.

Although most of country goverment try to not let bitcoin to be real currency, we know that like overstock.com  has accpet bitcoin and has really great sales, you know, when 1 competitor has get a new way to find many customers, as the biggest one amazon, if he don't follow up, he may lose these kind of customers, as people has purchase habit like, when use bitcoin pay, i choose overstock, when......, so like their CEO said, i think amazon will follow up too. then you will know, goverment can't use their policy to kick bitcoin out again, as more and more people will use it, when it become their property, goverment has no right to forbid its using.

   And in some country like south american, their currency is really mess. so people would like to find another currency to hedge, like gold or dollar. now they can use bitcoin now, some of my customers really enjoy it, For as bitcoin is much better than their bank to hedge assets, but i always told them one thing.

   Never put eggs in one basket, using 10%-20% to invest in mining or bitcoin, if you losing it, you won't be too sad, if it grows in next few year, you will be wealthy then.

If you look closely at the stock market, it is basically a form of legalized gambling. This is coming from someone with a degree in business economics.  My first job out of college was at Morgan Stanley. Every stock broker there was basically just pushing the ones that were recommended by upper management. Anyone that was managing a substantial amount of money, had their book of business handed down from a family member who had been in the business for years. Every move that the bigger players make is based off of some form of inside information. The key was to not push the envelope fat enough to raise any red flags. So the same market manipulation that people worry about in BTC or LTC (or any other alt-coin), is exactly the same in the actual stock market.