All the talk is about Bitcoin and the amount of money they are worth. Well like poker you pays your money, you takes your choice. If you are prepared to pay $200 for a calculation or a algorithm then you are prepared to pay $200 for a calculation or algorithm.
In the UK a pound is worth a pound because the Queen via the Bank of England guarantees to honour the note. Apparently in the pass you could have gone to a bank and ask for the piece of gold that the pound represent. Now, it is like a bond.
In the US the government via the President guarantees that the dollar is valued against all the assets that the government owns. Bitcoin mean that geeks and nerds love numbers and that’s it!
Can Bitcoin last, probably? Why? It is like the Internet ‘real estate’. If people are willing to use the Internet and treat websites as commodities then they will eventually treat virtual coins as if they are real. It will take a great leap of faith but we do this every day when we exchange money for goods and services.
Can Bitcoin be replicated? Absolutely! There is no law that says virtual coins can be created every day of the week if it can find a buyer or a seller.