Quote from: Holliday on March 27, 2014, 05:57:36 PM

Quote from: Robert Paulson on March 27, 2014, 05:51:24 PM

this is not what satoshi intended when he created bitcoin.
bitcoin was supposed to replace fiat money and remove the banker's power to print money at will.
if all bitcoin is good for is sending money abroad cheaper than western union/bank wire transfer then bitcoin is failing its mission.

Whether you are right or wrong about satoshi's goals for Bitcoin, it doesn't matter. Bitcoin does replace fiat money in some use cases. I'm not comfortable using fiat money as a store of value, it's far too dangerous (whether I rely on banks or not) and it's most likely only going to lose value over time. Most assets I don't actually own, so Bitcoin has a nice role as an asset that I have complete control over. That kind of control is valuable to the right person.

LOL @ bitcoin as a store of value.

It's one of the most speculative and risky things available right now.

It's the equivalent of investing in a startup tech company that you think is promising and are hoping is going to become the next google.