[mrb]

Yes it is. Ask any forex trader how they evaluate the worth of a currency. Exchange rates. This idea that Bitcoin's exchange rate should not be looked at to evaluate its worth is ludicrous.

(What you can buy with a currency is merely an indirect derivative of exchange rates, in a modern economy running on global trade.)

[fat0wl]

ask any forex trader how many of them work in a medium without basic protections against market manipulation...

You have a cargo cult mentality. If a little kid puts on his dad's pants, is he now his dad?

If I told you that each word in the dictionary was now worth $700/USD would you respect the dictionary as a viable form of currency because it has "an exchange rate"? Not unless you could use it to buy things at the supermarket -- that's what the commenter above you was pointing out. Any currency that buys you 1 apple on Monday vs 100 apples on Friday is not a successful currency at all. Bitcoin is going to crash before it reaches a point where it's viable as a transactional currency. Right now those exchange rates just mean "the current value you rubes think these coins hold!!"

Anyway I just recommend people get a job instead of playing with these stupid digital coins. Even if you're on the winning end, do you want your legacy to the world to be that you took advantage of a global ponzi scheme? Try to cure cancer instead.

[mrb]

You have no idea what you are talking about. Many financial traders do work in markets with zero protections against market manipulation: commodities!

A commodity is, for example, fruits, textiles, metals, etc, all of which are traded on financial exchanges around the world.

[fat0wl]

All the things you just listed have intrinsic value.

[Ellipsis753]

If I could sell you the dictionary for millions I would stop complaining.

[ars_technician]

>Ask any forex trader

Are you dense? That's the problem. The majority of a currency's users SHOULDN'T BE TRADERS.