Response to the BitCoin bullshit

So, reading this kind of CRAP online:

http://www.24businessreport.com/news/en/hiax/index.html

Articles talk about BitCoin being:

• A decentralised currency,
• Not controlled by a government,
• Limited availability

It's complete nonsense, but it's fueling a hype which gullible people are buying into.

1. Anyone can host a bit coin server and generate coins (https://bitcoin.stackexchange.com/questions/16654/how-to-get-copy-of-bitcoin-source-code). Thus making it as much a currency as, say, snot or mucus.
2. It IS implicitly controlled by EVERY government, as its entire value is rated by OTHER REAL HARD CURRENCIES. Which means it should be called "Inflation Coin".
3. Whilst technically adhering to the algorithm for the coin may indeed mean there can be limited numbers issued, its like any other form of exchange for worthless items. Every snowflake is unique, but that most anyone can generate them and they are pretty useless in of themselves means anyone placing real world currency into "BitCoins" is either out to exploit their potential for inflating worth (making 12 dollars into 1 million by "magically" people suddenly declaring their now worth that "because of demand").

It's the ultimate in vapor ware, and its any idiot who pays the inflated prices for doing so is either some kind of scammer or the last person in the pyramid. Its like in the housing market, except without a house, or indeed ANYTHING. So its really NOT like that market, except in the stupidity with which one person pays another 1,000,000 for a property clearly worth only 120,000. Except, can you say to yourself after paying 'well I love this bitcoin and the location is perfect, I'm glad I paid this much' or will you be fretting as the price goes down or in suspense as people supposedly will pay you more.

Still, if people can gain 'wealth' by BitCoin anyone can be rich *eye rolls*.