OP is full of fail.

38 TH/s? LOLZ.  How is this going to be powered a 100A power supply for a plasma welder?  Does house structural rewiring and high current safety interlock come included.

Corrected.   
https://en.bitcoin.it/wiki/Controlled_Currency_Supply

If the network hashrate was stable it would be ~140 years however with hashrate increases the end of subsidy day can't be exactly determined this far in the future however it is somewhere in the 100-120 years from now range depending on the long term hashrate growth rate.

Ok that was mildly funny.  The middle simply got repetitive with the dull "Bitcoin is facebook, bitcoin is abc, bitcoin is xyz etc" routine. 

It will be no different.

Mining (transaction verification, and block creation) will NEVER end.

The only thing that will change over time is the amount of the block SUBSIDY.  Miners are paid tx fees plus the block subsidy.  The block subsidy began at 50 BTC and in >100 years it is will be down 1 satoshi and then go to zero.

No.  In the US (and AFAIK everywhere in the world), Bitcoin isn't regulated by name.  FinCEN's guidance on virtual currencies applies equally and fully to Namecoin, Litecoin, xyzCoin and even centralized systems like Linden dollars.

"Greater fool theory" doesn't work without new less knowledgeable fools to offload the overpriced shares to.

No.  Not really.  Influence maybe but not control.  The dev team which abuses that influence by doing something detrimental to Bitcoin will find they have an unpopular client and thus no influence.

Of course that also will never change.  Netscape navigator still controls the direction of web development and has near universal marketshare.

Well feel free to use whatever you want but I really doubt people are going to use MSat, kSat, etc.  mBTC covers the common expenditure range for most purchases with a single prefix and without having too many forward or trailing zeros.

Then again I might be wrong we will see.  Nobody can force a standard, it will evolve to what people (collectively) want to use.

To clarify a heatpump can MOVE 3W to 5W (not BTU) for every 1W used.  It is simply moving heat from outside to inside (in winter) or heat from inside to outside (in summer).

True I guess it might just be geography but around here nobody calls a heat pump a heater.

It is all science fiction until it isn't. 

It was a sales call.  The US is the largest weapons dealer on the planet and Saudi Arabia is a huge buyer.  That means the salesman in chief will go there and shake hands, drink (water), make sure the VIP customers are happy.

Come on those strike fighters and air defense artillery aren't going to sell themselves.  The citzens of the United States shareholders of General Dynamics et all expect nothing less.

Wow BFL doing cold calling of customers.  The same ones they already screwed over?  I wonder how bad the Monarch presales are.

That was horribly unfunny and I usually am a pretty good sport.  Colbert got a ton wrong on his Bitcoin segment but it was at least funny. 

I feel bad for this guy.  He doesn't have any Bitcoins and he isn't funny either.

An electric (resistance) heater is also 100% efficient.  Any resistance load is equally efficient.  It can't be more or less.

Your timeline is silly short.  I don't think Bitcoin will end all fiats.  Nations have too much of a vested interest to keep that shell game going.  My guess is the day we both die there will be plenty of national fiat currencies.  The power of Bitcoin is that it (possibly for the first time) gives people the OPTION to choose an alternative system.   The reality is many won't, many never will, and for many it will take decades before they are convinced in the utility of an alternative.    Neither Bitcoin's price growth nor its adoption curve will be that short.  The 90% aren't going to suddenly all show up one day (all one the same day) and the price isn't going to be 10x what is was yesterday.  Mainstream adoption is measured in decades and will be gradual with setbacks in adoption, technology, and legislation.

Still if you are right then all cryptocurrencies are doomed to failure (as they all need a decentralized mechanism to bootstrap) so sell now while you still can or pick the point you think it can get before it fails.

Many pools may cover fees from their operation profits but multiple outputs doesn't have that much of an effect on fees.  Fees are per kb and more outputs = larger tx = larger fee.

Still getting paid in larger increments is better (even w/ no withdrawal fee) because everything else being the same having 1x 0.1 BTC ouptut to spend is better than having 100x 0.001 BTC outputs to spend.

If adoption slows the price will fall some holders will be willing to sell because their current needs outweigh the (now reduced) potential gain over the next month, year, decade.   That lower price will draw in new adoptees and the circle widens.  Each crash, each boom creations a distribution effect. 

I mean lets imagine a hypothetical 10,000 BTC early miner.  Its worth $2M today you don't think he/she is considering liquidating at least a portion of that 10,000 BTC.  Even if he/she isn't in dire financial strait I am sure they have wants and desires, a vacation, start a business, buy a boat, etc.   Lets say they hold Bitcoin goes up to $1K ea they are now holding $10M.  That is more money that 99% of the planet will make in a lifetime.  Don't you think a "lets sell 10% (or 20%, or 50%)" and hedge our bets seems likely.   No?  Ok BTC goes to $25,000 ea.  They are now (on paper a quarter billionaire) still no need/desire to sell of some of their stake?  Of course they would.  If nobody did the liquidity on MtGox would be zero right now with only bids at $50,000+.


Simple version:  you either believe in free markets and voluntary association or you don't. 

So hang on forever and die with the most Bitcoins = win.

People sell Bitcoins every day.  Money isn't wealth.  Money is what you trade for wealth.  Simply holding money forever is illogical and it doesn't happen.

How can you buy Gold.  Why don't gold miners just never sell it.  Put every disposable dollar into gold reserves?   There is no point holding gold or Bitcoins forever.   People do spend/sell/trade Bitcoins they will continue to do so.