I think bitcoin makes no sense at all

[Lethn]

It's just a new kind of Ponzi scheme. Everyone hope his btc will become more and more expensive so he can get rich without doing anything. I do not think they will succeed.

People like you seriously need to bookmark www.dictionary.com and learn what a bloody ponzi scheme is, you are badly wrong with everything you've just said, Bitcoin doesn't even need government regulation because it is self-regulating, if you don't like the rules Bitcoin has, the code is open source so anyone can develop their own rules, why would a ponzi scheme release it's inner workings and make it openly available?

[crazynoggin]

Good luck cracking SHA 256. I can see why people who just heard about Bitcoin on the news or in an article would think it is a Ponzi scheme, but if you actually read about it and understand how it is exchanged, it is not even close to one.

[marcovaldo]

I had similar concerns, but the more I read and think about Bitcoin the more it seems solvable

Maybe it will be the same for him

[hayek]

To answer your questions: Yes.

Start reading

[b!z]

I think bitcoin makes on sense at all.
A decentralized money means every client holds a central bank -- it's feasible only for a very small scale. The block chain is 10G today. It can grow up to 100...0GB if it wants to get the same position as usd or euro or cny -- obviously it's impossible.
It's no better than an idiot comapring to current finacial system. It does not support transaction, rollback, tracing, etc.
When more people get involved, it will be a nightmare.
When SHA is hacked, everything is gone.
The rule for wealth is so ridiculous -- btc mining likes lottery. Is this better than rules in today's real world? No, it's just ridiculous.
It's just a new kind of Ponzi scheme. Everyone hope his btc will become more and more expensive so he can get rich without doing anything. I do not think they will succeed.

Am I wrong?

blockchain can be shortened through various methods, although i do admit it is a big weakness because of its size

[Peter Lambert]

Curious I've heard the same argument from someone before... what if bitcoin price drops, what if someone sends you a fake bitcoin, what if SHA256 gets hacked.  "ANYTHING can be cracked" he says.  While I believe it's much easier to hack someone's computer than to crack SHA I started wondering if bitcoin is just too hard for the non-tech savvy to understand.  Or they'll believe it when it's too late, as it is with ANYTHING when you're ignorant of something.  Just another missed opportunity, I guess...

It is never too late to start using bitcoins. The value you gain as the bitcoins you hold rise in price is only part of the reason to use bitcoins. The other part of using bitcoins is actually using them rather than just holding them. Using bitcoins you can easily send money to anybody in the world at a very low or zero cost. This is a step in the direction of economic freedom, and with freedom comes prosperity. People can benefit from using bitcoins even when the price stays steady.