Sorry again, whilst, as is clear from your reply, you do seem to understand the risks and probably have the experience in trading, your statement:
´and rest assured that if the concept is sound you're going make a killing in the long run (which probably won't even be that long).´
does not provide any consideration of the point I made above.
Whilst the risks I mentionend might be self-evident to you, I do believe it may mislead others on this forum who are less experienced than yourself.
You're right, I guess I wasn't clear. When I said "if the concept is sound", I did not mean to imply either that it is, or that such a thing could necessarily be known ahead of time. There are always unknowns, and Bitcoin certainly has its share of known risks. You know if the concept is sound by whether it works in the long run. For now, my educated guess is that Bitcoin is sound, and the rest of my advice is based on that.
I completely agree that the technology is probably sound. But that was not my point of crtitizism, I totally accept that premises, if not I probably would not spend time on this forum and I definetely would not have invested. My contention is with your line of argument: ´ if the concept is sound -> you are going to make a killing in the long run [with an investment in bitcoins].´
I believe the correct line of argument would be: if the concept is sound -> this concept will be extremely successful -> you are going make a killing in the long run [with an investment in bitcoins
if it proves to be the most successful implementation of this concept ].
The whole software is open source(easy to copy and tweak), there´s a lot of heat on the current implementation, on the other hand it has a fairly large and dedicated userbase.
But Firefox/IE did not invent the browser, Google did not invent the concept of a search engine, both used existing ideas and improved on them. But that´s not what you are saying in the quote I critizised. Hence I stated that I believe it to be misleading.