...
we're already laughing at him. and have been for a while.
Yup:
The hype is dying down, and the Bitcoin market is rapidly running out of 'greater fools'. The fair value of a Bitcoin for most people is zero, because that is the monetary utility it offers them. Whilst the novelty of being able to secure a small number of goods and services with Bitcoin will no doubt sustain the fanatics, it will not maintain the interest of many beyond that group.
^ From April 16th 2013; an order of magnitude less awareness/hype/adoption/market-cap than today.
There isn't a chance in hell of Google adopting Bitcoin or any other major corporation; dream on bozos.
^ Wrong:
https://www.google.com/moderator/#16/e=20e106These guys are just the beginning:
http://www.overstock.com/bitcoinhttp://www.tigerdirect.com/bitcoin/Won't be buying any above $1
I actually want to use bitcoin as a currency, not a get rich quick scheme.
^ And here we have one of revans' primary misunderstandings. One's ability to use bitcoin as a currency at 1BTC=$1 would be severely limited relative to much higher exchange-rate/market-cap. Currencies need a certain market-cap to facilitate transactions (cue "hoarding" objections and complete lack of understanding of incentives and equilibrium). Even with bitcoin's relatively high velocity in the 7-9 range, the market-cap has to be *a lot* higher than the equivalent of $21M in order to allow for effective use as a broad medium of exchange. Claiming to want a $1 bitcoin so you can "actually use [it] as a currency" is a very telling intellectual misunderstanding on your part (that's giving you the benefit of the doubt (ie, that you're just stupid, not malicious)).
