I was watching CNN the other night and Morgan Spurlock came on with his show called, 'Inside Man'. This weeks show was specifically on BitCoin and whether he could eat off BitCoin for a week etc. Interesting idea and a new currency that you can use to buy all kinds of stuff, including coins. First off, did anyone watch the show? Second question is does anyone currently use BitCoin or have you used it in the past? Care to share your thoughts on this new currency that is unregulated, but seems to work extremely well. Sure, some ppl lost some money a couple of years ago b/c of a ripoff from MtGox so it's not a perfect system but it works and it's growing. Any naysayers, yaysayers or any other sayers, have anything to say? http://www.cnn.com/2015/02/18/us/bitcoin-morgan-spurlock-inside-man/
This same type of question was asked in the General Discussion Forum. It is still on going. Try the topic "Bitcoin and other cryptocurrencies". The 6th topic down on page one of the forum topics.
I've used bitcoin for all kinds of things most recently an order on Newegg. Although the currency isn't exactly new by any means. Spurlock is just doing this to make another documentary movie and cash in no doubt.
It has to have some basis for determining its value. Even if it is anticipated growth or production there is a way that is generally accepted to value it. If you notice they still speak of Bitcoin in terms of Bitcoin/dollar. It is a pyramid of sorts that will ultimately cost some bagholders a lot of money.
I bet they had to use real dollars in order to buy Bitcoin stock. Will the investors accept Bitcoins when they sell? Or are they too smart for that.
I think there will always be some demand for it as a lot of people who, would rather not use/trust 100% electronic payments, paradoxically would find BTC/LTC/etc a substitute for cash when wanting to keep a transaction relatively private. Now whether or not it's a good investment is a completely different discussion.
