Bitcoin will be wiped out in 2014, because it has become a threat to national monetary systems.

[Archaic]

7. This phase is the fraud phase.

Start small. Get a huge return that isn't really quantified. Smart money advertises the hell out of it. Stupid money jumps in as smart money sells. Right now, Forbes is reporting it's the number 1 returning "asset" of 2013.

Then one day, we'll see a breach, a news story about a theft or a pile of value lost for some reason. The late money loses everything.

But one thing has come from it. There is so much pent up anger at standard financial systems that legit sites are willing to gamble on processing those transactions and use it in lieu of a standard currency. Overstock.com has announced that they'll accept it as currency in the 2nd half of 2014. (I wonder how they will pay out store credit on a return...)

So while Bitcoin may fail, the experiment is underway.

What's funny is that SO many of the people who are enamored with Bitcoin, are the old Amero people. OMG ONE WORLD CURRENCY! We're losing our sovereignty! But don't remind them of it.

The Chinese aren't the investors from what I've read. It's the guys in Hong Kong that design an ASIC to do the math to generate Bitcoins and have them mass produced in China due to their proximity. So if they're spending their money on that, and then reselling those Bitcons, they're proabably liquid enough in other currencies to not miss anything.

It's an interesting story.