Ever look at the valuation of the dollar in the first few years after its inception? I though not."That paper in your wallet has "real value"? Oh yeah that's right I forgot, we've never seen a government backed currency crash into the ground."it may not have 'real value', i understand that but at least its legal tender for debts and can pay my taxes with it. its a real currency, bitcoin is just a script kiddies wet dream.
I'm just laughing at how you think that just because you can invent something without an institution that people are going to buy into it. Crazy Libertarians who think freedom is like "do whatever you want" haven't obviously studied politics and so will never understand that old traditions die hard and the 'paper' currency you talk of will find other forms in which it will replace the form bitcoin has taken. I can guarantee you on that.That paper in your wallet has "real value"? Oh yeah that's right I forgot, we've never seen a government backed currency crash into the ground.Anyways, obviously bitcoin is still experimental. Nobody should be investing money they can't afford to lose. And nobody should be bothering with it with GPUs. The days of cheap/amateur BTC mining are over.one of these days people will realize bitcoins have no real value aside from the time wasted mining them. Once this happens, bitcoins will crash harder and faster than any economy ever created.