Quote from: superduh on December 07, 2013, 05:08:36 PM

china not only legalized bitcoins 100% they put it outside their tight currency controls!!! which is actually a REALLY REALLY good thing for today. there are many people who don't understand china and many people who can't quite grasp how good this news is for now! china treating it as a commodity for the time being is really great! now it will go on to surpass gold in terms of value. see you at the moon

I have to disagree. Its not great as treating it as a commodity (with capital gains taxes for example) will mean that it wont become a dominant medium of exchange.

So whats left is the store of value aspect. However bitcoin being a technology that can be outcompeted by altcoins, possibly hacked (how should the average joe know if not more bitcoins can be created), and not wanted for itself (like gold that people love to look at and hold in their hand or silver) will have enormous difficulty become a dominant store of value. Btw: people speculating in it (thinking it will go to the moon like you do) does not proof bitcoins viability as a store of value over long periods of time!

Now for transfers it is not cheap if you take into account the spread! So where exactly is the value??? I dont see it.