Reuters column: Virtual Bitcoins are appealing but probably doomed

[hazek]

LOOOL

In the currency wars, the nerds are winning. The value of a Bitcoin — a digital currency trading over peer-to-peer networks — has rocketed more than nine-fold in two months to $8.74. The preordained supply and decentralization of Bitcoins have intrigued geeks and paranoid inflationistas alike. But this abstract gold may not survive what looks like a bubble...

By Robert Cyran
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Read more at: http://blogs.reuters.com/columns/2011/05/27/virtual-bitcoins-are-appealing-but-probably-doomed/

[hazek]

Quick kiba, you know what to do!

[marcus_of_augustus]

Yeah, Reuters has missed every bubble from the 90's tech stocks, dot.com, housing, mortgage debt., CDO's, corporate debt, etc and yet they are genius enough to understand bitcoin AND call a bubble .... ha!

[Horkabork]

I love articles like this. Since bitcoins, because they still aren't accepted for many tangible goods, are a fine way to speculate on how the currency will move due to speculation, these articles are speculating what bitcoin speculators are speculating and what this speculation of speculation will bring (besides more speculators new to bitcoin).

Now I'm sitting here speculating that more media attention, through articles such as this, will increase the number of buyers more than sellers. So I'm speculating that this article's speculation of speculating speculation will increase bitcoin's relative worth to the dollar.

Since my small purchase won't have much of an effect on the currency, I really don't think that any of you can read this post--a speculation of media speculations on bitcoin speculation speculation--and accurately speculate on anything. Or I could just be speculating that.

[FreeMoney]

Yeah, Reuters has missed every bubble from the 90's tech stocks, dot.com, housing, mortgage debt., CDO's, corporate debt, etc and yet they are genius enough to understand bitcoin AND call a bubble .... ha!

It really is hilarious. The Death Star Bubble is bearing down on them and they point to this little thing and scream "BUBBLE".

[hazek]

LOL Hahahahaha   Awesome speculation, Horkabork, you speculative speculator you!

[Cryptoman]

I don't know what I'm getting more tired of reading about, that Bitcoins can be used for illegal activity or that they can be used to buy alpaca socks. 

[marcus_of_augustus]

I don't know what I'm getting more tired of reading about, that Bitcoins can be used for illegal activity or that they can be used to buy alpaca socks. 

yeah, do they come with an embroided bitcoin logo?

[PseudoCode]

I don't know what I'm getting more tired of reading about, that Bitcoins can be used for illegal activity or that they can be used to buy alpaca socks. 

yeah, do they come with an embroided bitcoin logo?

You know, Id buy that idea for a bitcoin !

Alpaca socks embroidered with a BitCoin logo - love it. 
Im off to find the sock seller and suggest it !