RE: When Price Passes Practicality
Viable business idea
One needs to read into each company and decide weather it is a viable business idea. Nothing goes up in value unless it provides something in the long run...and Bitcoin provides nothing.
Understanding the Network
They say lightning fast network will fix Bitcoin. Then again lightening fast network will make all go faster by the same coefficient. Now, if there is no logical fundamental reason why anyone should have Bitcoin then it is a mania bubble and one does not want to get caught holding the hot potato. Bitcoin is not producing what is promised. In fact, it is failing dismally. It is slow and expensive to transfer. The only reason why anyone is buying is is because they believe someone else is going to pay more for it than what you bought it for.
Bitcoin provides a common network for payment and trading. It is useful. If I had to send money to China, it's faster to send BTC than wire it there or western union it there. Government and banking financial controls can take days or weeks. BTC is same day. This is what gives it value as a medium of exchange.