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I get your enthusiasm for bitcoin (or perhaps other cryptocurrencies). However, while the concept of global based currency, hedge against inflation, etc. is novel, in reality, it has proven to be a very poor form of currency; it's not universally accepted, it's value changes dramatically based on emotional swings of the market (often times falling to half its value in a matter of weeks... I'd rather take inflation risk than losing 1/2 my money in a few weeks), it's actually more traceable than once thought (which btw, what exactly are you doing that you need THAT amount of anonymity), it has no intrinsic value - meaning, if bitcoin fad dies down and ppl stop accepting it as a monetary exchange medium, it becomes instantly worthless (it doesn't provide water, food, shelter, or clothing) - just look at the amount of coins that have failed.
The other aspect of this that bothers me is that it's advertised to others. Why? If this is such a magical cure-all for financial woes and it's making EVERYONE who holds bitcoin rich, then why wouldn't those holding bitcoin just buy all of it for themselves?
Here's why, because it works on the 'greater fool theory'. Bitcoin is only worth what the next 'fool' will pay for it. In effect, it runs like a Ponzi scheme. If I buy bitcoin for $40k today, it's only worth $40k as long as new, eager ppl are willing to invest in it. The moment you run out of the next 'fool' willing to pay $40k... well then what is it worth?
Thus, all the advertising to recruit new 'fools'
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