Originally Posted by TheSquealer

I always find it interesting how people can distort reality to fit their own personal model of the world which, (as can be said for all of us) is most often shaped by whats wrong with them, rather than whats right with them.

How much is a diamond worth if anyone can create diamonds? Nothing.

Forgetting all the practical issues... and the generally grown up understanding of monetary systems and the need for oversight, what is a bit coin worth, when there are 1000 similar competing currencies? People look at the value of bitcoins to "prove" they are right. But I would first ask "If you can just write some software to create a currency... why aren't people doing this all over the world right now? Because people are confident in it?... "what stops people from creating titcoins, mitcoins, shitcoins, titcoins, itcoins, shoecoins, dogcoins etc etc??"