/biz/ - Business & Finance

>>149221

People have pointed out very important flaws and problems here, and you guys just ignore them by saying:

>It's new you just don't understand it. Just like all new technology that went mainstream and succeeded.

Just because this is something new, it doesn't mean that this is going to places.
Most new tech fails, only few things actually make it.
Like you said, it's still very much in the "new" phase and it's getting fucked by the media left and right. Not a very good thing to happen when you are just gaining massive media attention and trying to get this thing off the ground.

The only reason why people are buying this thing, is because it has gone up in price.
It's just a get rich quick scheme at the moment. A greater fool kind of market.

There's no reason that Bitcoin or any of the current copycat alts should be the virtual currency to make it.
Bitcoin is just the strongest because it's the first one of it's kind.
Yeah, sure there was the "e-gold" or whatever, but that's irrelevant atm.

I think it's going to die and is going to be replaced with something that can actually be effectively regulated and something that offers actual consumer protection, instead of:

>"Well you just botched that trade, tough luck. We can't get you your money back, and it's lost forever.
or
>"Oh look at that, someone hacked our site, well those Bitcoins are fucked"

Which is a major problem.

If it can't be regulated, it's not going to get a green light from the government or the banks.
That's a fact that can't be argued with.
Governments and banks aren't going to allow some multi billion dollar business to operate unregulated just under their noses.

And don't even start with the "well the people will use it!"
No the majority won't use it. If the government or TV says that Bitcoin is bad and dangerous, then it is and no one is going to touch it outside of some anti-gov anti-bank people and money launderers.