I don't know whom you are trying to convince, I never argued portability... As for it's second feature - PRIVACY. From what I can tell, this stuff is really private. There is no paper trail. It is electronic. Each coin can be followed when it was created and when it was spend. That's how we know that large amounts of early coins have never been used. Care to guess why? (I don't know) The Government no longer knows how much money you have, and where it is. That is a very good incentive for the government to step in and ban it or crash it. By the way you do realize that you are supposed to pay taxes on any BTC capital gains? Secret or not, you have to declare your gains, otherwise you are a taxcheat... Are you telling me thats worth nothing to you? It is less secret, than people believe. Also, because of the secrecy it encourages fraud. Once you paid, and you don't get the goods, see ya... Scarcity is obvious. It is NOT rare. You can not make a popular AND rare currency, that is an oxymoron. Every coin can be divided down into 8 digits. Do the math how rare is that for you.... (11 million (current existing coins) times 10 000 000 units)
It's already busted hard once. That said, maybe it's possible that the current BTC/USD valuation reflects that the emperor (i.e. the USD) has no clothes.
Offering what fiat lacks is not really an argument against Bitcoin, but an argument for it. Which maybe explains why it's done so well? As for privacy, only the public end of the pgp key is associated with the transaction. Users can create as many keys (read: "accounts") as they like. And destroy as many keys (read: "accounts") as they like. That way, you could go through the chain, or block, or whatever it is, and every transaction could be to the same person, but with 100 different public keys, making it appear like 100 different recipients existed when there was only one. I'm sure there's more to it, but that's what i know so far. I agree it's due for a major selloff. Like maybe below 50. But I'm a buyer. This thing has legs.
Look at the historical logarithmic chart. We are not in bubble territory yet by a long shot, IMO. We may also go straight back down to $75 - $50 range. Doesn't really matter, you should be dollar cost averaging this market anyway.
I only mine, just banking as much BTC and LTC as I can like a sort of long term investment that costs almost nothing to acquire.
I just bought 60 or so LTC about 2 hours ago.. we will see what happens.. Apparently, I am reading that Mt. Gox is planning to support LTC on their exchanges.. not sure if this is confirmed or not.. but I wanted in.. spent 2 BTC
No, I would have though around 100,000 USD if I never gambled away BTC. I also have 125 coins locked up in Mt Gox from the bitcoinica disaster (google it). I have another 30 or so BTC in my current possession, and 60 LTC I just bought.. I sold way too many BTC @ $26 on the way up.. really kicking myself!
Do you use logarithmic chart with stocks too? Because pets.com was never in bubble territory either if you look its logarithmic chart... Let's take a trip down in memory lane: