[quonn]

But investment, into "something that is effectively short the Swiss Franc" is not the real purpose of currency anyway. Indeed, excessive speculation is the reason why bitcoin is in so much trouble. It never became a proper currency.

For Swiss people, the value of their money has not changed, except if they travel abroad or import - in which case they have gained something. Foreigners who have put their money into it have not lost anything either.

The main point is, that the Franc works as a currency, because it is actually really stable, and Bitcoin currently does not work.

[mike_hearn]

> excessive speculation is the reason why bitcoin is in so much trouble. It never became a proper currency.

I'm not convinced such arguments have legs these days. CHF and ruble are seeing massive volatility, are they not "proper currencies"?

Bitcoin is a proper currency. It's just that it's economy is tiny, so just like little Switzerland the currency gets battered a lot by speculators looking to make money.