Yeah, just another hack with a poor understanding of how bitcoin works. However, if you are interested in her opening arguments for how currency functions as medium of exchange I recommend reading marxist economic theory 1 and 2. It's not a politically based book. It provides numerous cited sources and research by historians and archaeologists for how our economy has evolved around the world since the beginning of time. Essentially, all value is based on time. Therefore, value bitcoin at the time required to uncover blocks of encryption. Read about sah-256 and you will have your answer. Value, and rarity. Look past speculation, focus on the fundamentals of value. Think back to when it was a more stable price following the rebound of silk roads shutdown. Then calculate a projected growth based on the amount of bitcoins being mined daily, and the amount of people likely to adopt bitcoin.

Bada Bing, Bada boom, get your value that way.

Dont discredit something because it was read by the OP on facebook just because it was read on FB. Especially when people are always attempting to parallel the growth of bitcoin to that of facebook. Bitcoin is nothing but speculation, albeit based on great concepts. Don't discount the fact that governments, and banks are not new to the idea of market manipulation, in fact it can be argued that they invented it. They are not a bunch of nerds with no experience in bull markets. They take calculated, systematic approached to reaching their goals. Moreover, they are flooded with cash to invest in destabilizing or manipulating bitcoin as per their own interest. Even those early adopters of bitcoins who are now millionaires cannot compete with the billions of dollars the governments and banks are able to invest towards buying up bitcoin either for attack of the network, or whatever they intend to do.

As for china, they invest in everything and are major players in every market. Gold, check, Bonds, check, Scrap metals, check, Bitcoins, check, they'll invest in anything and they exercise the forethought to be successful in all their investments. It's just in their nature, get used to it.

I'm a big believe in Descarte's Rule: believe only that which you can yourself provide or observe evidence for

Or, similarly: believe nothing of what you here, and only half of what you see.

We all know how entrenched internet marketers. The internet is overpopulated with biased content produced by people with an interest in persuading opinion. Be it for commissions, or whatever. Early adopters are no different. They have a huge interest in the playing up of bitcoin, and the more they do that the more they make.

Don't misunderstand me, I am fully behind the world of possibilities that bitcoin has created. I am not however, behind the idea that this thing which should be used for the good of the world to free themselves from central power of bankers, should be transferred to benefit those few who were fortunate enough to adopt this technology early on.

I believe LTC shows much promise, as do XPM, FTC, and NMC. The technological improvements aside (if you even agree there are any), one cannot dispute the fact that they offer much greater benefit to those wanting to use crypto today.

You need to understand that it remains to be determined if BTC is actually the facebook or google, and not actually the myspace, or aol. Being the first isn't synonymous with being the best. Even if it were, their respective exponential growth rates happened for a limited time only, and today they are growing at much smaller rates. More sustainable rates, I might add. And a sustainable rate is much better for the future of anything then an exponential one. Keeping in mind that things can exponentially decrease as well. This tremendous period of growth for BTC is normal as critical mass takes place, however, it cannot be expected to maintain. The volatility is a turn off to new adopters, and new adopters are what the future of this currency depends on for its success.

people need to understand, the biggest supporters of the 100,000 dollar bitcoin are those who are early adopters of bitcoin. They want to hype it up, because the more people who buy in at high prices the more they make. Use your common sense, what human would value a set of numbers at tens of thousands of dollars, versus physical goods?

This type of thinking is completely contrary to the purpose of bitcoin. It should be used as currency, not as  a volatile speculative, asset/stock investment. The current growth rates aren't sustainable, just simply not. Imagine you don't own any bitcoins, and you want to start using them. Are you going to spend all your money on btc or some other crypto that is cheaper and more suitable to what you intend to use.

BTC is going to be a reserve currency that other currency will be measured in, it's missing the mark as pr an actual transactional currency. It would be just as easy for a vendor to accept ltc, xpm, ppc, etc as btc. Just as cc machines accept visa, mastercard, discover, amex, etc. Any technology or publicity gained by BTC, will also be gained for alternative currencies. There are also many cases in history where the forerunner has been outdone by a competing alternative. I like to use oreo's as an example, because they were the knock off cookie at the time they began.

Although you can buy .000001 bitcoins, that doesn't mean people like to trade in that type of number. People are much more willing to trade in 10,000 or 100,000 $ bills (as in countries like Indonesia, Vietnam, etc) then in .000001 whatever. There are so many currencies in the world coexisting, there is no reason to believe why crypto will not do the same.

I agree. Too many blockchains to download if you only intend to eventually mine one or two types. I would recommend you to get an account at an exchange like vircurex or btc-e because they have the most popular alt coins. Security isn't as much of a concern for those just getting their first coins, that aren't worth very much in the first place. I have a few clients already, but I accept coins to the address generated by Vircurex or BTC-e, dont have every coin but they allow you to receive the most popular ones.

Go exchange!

one more point I forgot to mention.

My wife is from indonesia, 4th most populated country in the world. 100 dollars us = 1 million rp. Average monthly income about 200-300 usd. Go for a meal about 10,000-30,000 rp. If buying in bitcoin, then it would be .001333333 or more in Jakarta, where its more expensive.

Cryptocurrency has enormous advantages for adoption in countries with weaker currencies already. Africa, South and SE asia, where exchange rates to usd is about 30 to 1. Its one thing to buy stuff in 10,000 $ notes for a meal, but completely different to use a ten thousandth decimal.

LTC, PPC, XPM, FTC all will be more useful to these populations of the world.  

Hello Everyone,

My thoughts, are that BTC will take the role of reserve currency for all crypto's. It will not be used for everyday purchases because people don't like to buy things in .00001 or .000145 amounts. People can't even barely describe a thousandth accurately. It will however be a great asset to use for bigger purchases like cars or houses. Or many other things, just not a candy bar or lunch. For now, the volatility of BTC prevents people from using it in everyday exchanges, like buying a lunch for .01 bitcoin or whatever because the value fluxuates too much. And, it takes 20 minutes to verify the transactions.

Litecoin, will be used for everyday stuff. It's quicker, smaller denomination. If you think of LTC as a $5 or $10 bill or whatever, it will make much more sense for people to buy and sell in LTC.

People who are soo against altcoin are forgetting that they themselves have a very warped perspective on the subject. As early adopters, they think hope that bitcoin just keeps climbing and the new adopters should make them rich. But then what is the incentive for new people to use or accept bitcoin at such a high price when they could simply use litecoin which has been very stable in price, or other promising coins like XPM, FTC, or PPC.

I think BTC will ultimately always be the most valuable, but that isn't guaranteed either. Anyone like OREO'S? You might be surprised to know that they were actually a knock-off cookie in the beginning. What about Hyundai's, remember what they were considered 30 years ago, shit, and today actually a great selling car.

Dont underestimate the fact that all this awareness and publicity done on the part of BTC could easily just transfer to any other promising ALT Coin. If somebody really wants to make these coins take off for the general public, there has to be an incentive for them. Everyone now seems to have just got in early, reaped the rewards, and waiting for the next generation to come in and make them rich. There's absolutely no reason why adopters couldnt just use another coin, at a better price thats more useful for everyday transactions.

This crazy price isnt exactly inviting to people who want to try starting bitcoins, unless they want to use it as a method of savings. So I expect BTC to be a reserve currency, just as the USD is today. There is room for many different alternatives in the market. As long as it serves as a good exchange of value then anything is viable.

I'd like to join the lotto! gotta be better odds then the one the state runs, plus free 

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