All of the arguments are just recycled constantly. They are addressing claims that are not being made in this thread - mainly the claim that bitcoin is a viable currency that will replace fiat currencies (Michaelsuede hasn't posted here in a very long time).
This thread is a general discussion about Bitcoin and not limited to what Michaelsuede said years ago.
I am not sure that anybody has mentioned this recently as a rebuttal to Bitcoins potential, and the latest claim I checked on in on-line articles was in August last year when the claim was made that Bitcoin would replace fiat when reached US$213,000. So, yes, it is a blind alley and not worth discussing. But any article from a respected source within the market is fodder for discussion. And one such thing which is still prevalent is future prices, which happens regularly.
Again a serious objection, among less serious ones, are articles from people who seem to have some "respect" (probably not the right word) in the industry who claim without firm data, that Bitcoin will reach "x" by the end of "y" with figures of $25,000 and $50,000 being mentioned (although often with a disclaimer that you should not invest more than you can afford to lose, which is good advice about any investment). What I don't like about this is that it could encourage some people to speculate in Bitcoin, thinking it is easy money.
Those that say it is worth nothing are of the same mindset, just on the opposite side of the coin.
It seems to be hovering around $US3,400 - $3,500 at present, and that is a good thing because it gives an opportunity for investors to sit back, not to look for short term profits from what has been basically from fluctuations and speculation, but to look at the technology itself, and find any future value there.
Norm
