That's all correct if you can identify what's really true and what really constitutes progress. If you followed the truth of this forum starting two short years ago you would have already lost all of your money to MyBitcoin or Bitcoinica or GLBSE or Pirate@40 or on and on and on. If any other investment vehicle had this many problems so soon after introduction it would already be ancient history. Fanatical idealism is keeping Bitcoin alive.
Bitcoin isn't an investment vehicle. It's an asset that, when used properly, gives the ultimate control to the user.
Those "problems" you've listed are only problems because people ignore one simple rule: If you aren't the sole controller of your private keys, you don't have any bitcoins.
It's unfortunate that so many are willing to resort to traditional methods and give up control of their assets, but that should be a lesson for everyone else. Apparently many fail to learn from the mistakes of others.
It's also unfortunate that I am labeled as a fanatic because I simply want to retain control of my assets and not be persecuted for it.
Bitcoin does allow this kind of control, like nothing else in existence. So, don't expect it to become ancient history as long as people like me continue to value this property.
I'm happy that you kept all of your Bitcoins. You know I've been ripped off several times. I'm not discounting the value of holding on to your Bitcoins at all costs. You should protect that key like it was your house key. The problem is that a lot of us need cash to give Bitcoin value. Just holding on to it doesn't really create any value for us. When I was mining with video cards I
needed to cash in some Bitcoins to pay the high electric bill and buy supplies to keep mining. Exchanges are necessary for that to happen. I'm sure I don't need to tell you how many exchanges have ripped people (including me) off. The very last exchange to screw me was CryptoXchange and I almost quit Bitcoin because of it. You'll get a laugh out of this: PatrickHarnett, MnW and Yankee convinced me it was a great trustworthy exchange because I was fed up with Trade Hill. lol
Bitcoin most certainly is an investment vehicle. I would go so far as to say, at this point it is mostly an investment vehicle. If I want to shop at that overpriced overstock.com I can simply use a credit card. I don't need to first exchange my cash for Bitcoins to do it. If I'm buying Bitcoins it's to hold and wait for them to appreciate not because I want to buy some junk online. I could do that before Bitcoin ever existed. If I mine Bitcoins then I want to hold them for sure because I want as large a return on my equipment investment as possible. If I bought my mining equipment from a scam artist like BFL then I
really need to hold my coins or I may never ROI. Many people choose to use the numerous opportunities that are available on this forum to attempt to increase their small holdings of coin into a larger holding. They are promised a greater return and that's why they are here - profit. Let's face it, no one is using Bitcoin because their doctor said their health would improve if they got themselves a few Bitcoin. They want a fucking profit! Well guess what, they just made Bitcoin an investment vehicle.