Comment: That IS how it works.

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In reply to comment: That's not how it works. (see in situ)

That IS how it works.

Your a fool if you think otherwise, this is how EVERY commodity works.

Even though Bitcoin is NOT a commodity(as it holds no physical value), its value is as medium of exchange, the service of its use, and false claims that it can't be seized is what makes its rate go up.

Don't kid yourself, it is not invisible, and it is not anonymous. This is the exact reason it's being seized at exchanged, LACK of anonymity.

Bitcoin WILL Fail, as was posted by Lew Rockwell, "Contrary to the recent hype, we hold that Bitcoin is not money but rather a new way of employing existent money in transactions. The fact that the price of bitcoins has jumped massively lately implies that people assign a high value for the services it offers and nothing more."

Nothing more than a medium of exhange, and when you can't trade it for your FRN's? Your Euro? Your Yuan? or whatever you want to change it for, when people stop accepting it, or the rest of the world economies collapse, what is it really worth?