Seems like that would negate the lateral problems, but maybe I'm just introducing a twisting one instead...?

Bitcoin, and most other virtual currencies, are only "hard" to counterfeit because limitations in current technologies ( math included ) make it so... What happens when that goes away?

What would the value of bitcoin be tomorrow if some scientist today, publishes a paper providing an easier way to factor large numbers? What about Moore's law? What about quantum computing and machine learning? What about breakthroughs in mathematics or cryptography? Start thinking about all the intellectual manpower working every day on any number of things that could make the very basis for bitcoin obsolete, and you start thinking that maybe the value we assign it is a bad bet.

As far as gold goes, until someone creates a philosopher's stone, or starts 3d printing gold atoms, I think we're safe to assume you would still have to mine the stuff and refine it, and that amount of work isn't going away anytime soon... and therefore the "value" of it isn't going to zero soon either.

My point is that it has an INTRINSIC value, not just an arbitrary value we've assigned to it, but a natural value that comes only to things that are actually naturally valuable... that statement may seem to be self referential, i.e. wet because not dry, but I think it makes the point I'm trying to get across, which is: there's a difference between that which IS valuable, and that which has value because WE assign it value.

Like tulips in pre-crash 1637, "bitcon" only has the value we assign to it, in reality it's nothing but numbers and we've plenty of those.

That it can and probably will decrease in value drastically when a majority of people realize it has no INTRINSIC value... well that should be warning enough to those wise enough to think about critically.

It's not like "market cap" really even applies to it here, yes each "coin" is assigned some value and the multiplication applied methodically does seem to come up with a giant number, but there are no REAL assets... it's not like it's a share of stock in a company that makes anything, it's all ethereal, there's absolutely nothing of value except the fact that somebody else is willing to exchange something of REAL value for it... when that's gone, the whole thing will be another story on Wikipedia...

I disagree with this sentiment, I was ( some 20 years ago ) incarcerated for drug dealing. I broke the law ( much more than I was caught and prosecuted for btw... ) and I deserved what I got, probably more.

For the record, being in prison sucks... it's SUPPOSED to suck, it's supposed to make you regret what you did to get put in there and actively look forward to the day of your release, it's not supposed to be a cushy summer camp for confused snowflakes... if it was, it WOULD NOT rehabilitate errant individuals like myself. The fact that it did suck SO BAD, is STILL some 20 years later FRONT-AND-CENTER in my mind - actively DETERRING me from doing something stupid and illegal again.

Also, for the record, I was allowed to EARN the right to work outside the prison ( good behavior / etc... ), for about a dollar a day ( usually removing trash and cleaning roadsides and tending parks and other municipal assets ) and I made more ( triple if I remember correctly ) when on fire duty.

Fire duty started the minute you got on a bus and left the prison, and ended when you got back, even if you did nothing but sit on the bus on the side of some road... you got paid for every hour you were on duty - 24 hours a day / 7 days a week - IT WAS GOOD MONEY ( for being in prison ) and it was a PRIVILEGE... because more than the money ( which was nice to have in prison, believe me ) it allowed you to go OUTSIDE of the prison, which was PRICELESS.

"Pay them for their hardwork and they'll learn they can succeed in life by hardwork, determination and honesty" -- Again I disagree, I learned nothing of the sort, what I learned is this: There are NO SHORTCUTS to success, and I should quit breaking the law and instead become a productive member of society INSTEAD of being a criminal.

Giving criminals (like my former self) better pay and treatment in prison has to be the stupidest idea I've ever heard of. If it wouldn't have been terrible I maybe would still be a criminal, because the deterrent would be insufficient.