Quote from: cbeast on December 18, 2013, 01:04:37 PM

Quote from: MikeyVeez on December 18, 2013, 12:52:06 PM

Ohh no beast you are a hero super member and speaking the truth, commence you are discraceful comments in 3 2 1

The only response I ever get is "But the base will grow and margin orders will level off the volatility." Those arguments don't address my concern that a currency needs to have some psychological element built in like fiat does.

Gold has a psychological element even though its value was originally based on its use as a metal. Today people see gold as a synonym for wealth (rather than its real life use), so it's obviously possible to make people attached to anything. That's more of a question of culture and upbringing than whether or not the currency has any inherent value.

Right now the public interest in BTC is not as a currency, but as a stock. I'm pretty sure the bubble is going to burst at some point in the future when the investment era ends, but by then it'll be too late, as BTC will already be established as a payment form. At that point its value will solely be based on its properties as a currency, which people will most likely be able to appreciate.

When it comes to whether BTC will replace mainstream currencies, that's a completely idiotic and speculative argument that nobody can say anything about. Even if it did happen, we'd probably be in our cold comfy graves before that happened. There's just no telling whether BTC is going to become a mainstream currency or a minor payment alternative.

As for the inherently technical problems with BTC, who cares? These things aren't perfect off the get go, and there'll most likely be altcurrencies coming along to solve those problems. We're at an early adopter phase right now, so don't worry.