[codelust]

Bitcoin is the most promising of derivatives to come into the market in recent years. And as far as derivatives go, something that has no formal structure controlling or regulating is a godsend for actors who can move the markets. And considering the entire size of the Bitcoin world, it is one of the most juicy derivatives out there.

Does that mean it is not innovative? No. It is certainly innovative, especially in how it has been marketed. Alternative currencies are a dime-a-dozen in communities that are interested in currencies and communities that want to subvert existing currencies. But none of the others have gotten as far as Bitcoin has, in terms of both usage and how seriously it is taken.

Does that mean you cannot make money off it. No. You can certainly make money off it. That said, you can make money off how a bunch of horses are going to run on a given day too.

Does that mean you cannot pay for things with it? No. You can certainly pay for many things using it. Does that mean it is as good as the USD. No, it is not.

The true genius in Bitcoins lie in tapping into the Matrix-esque narrative that you are empowering every wannabe-Neo out there; which almost every nerd secretly aspires to be.

What that narrative misses out on is that, at a global level, any abstraction (currency, political boundaries, taxation) is already mainstream. By the time you make something niche acceptable by everyone, you have already inherited all the good and bad of something that is mainstream.