Digital currency Bitcoin hits new high before losing S$200 in value in one day

[mobo]

Hello, which world are you living in? People pay Huge money for virtual stuffs which they do not own. Take alook at companies like Facebook, EA Games, Blizzard Entertainment and Tencent holdings.

These companies make money by selling virtual currencies and items not backed by anything.

But surely these virtual stuff cant be sustained?
People will ultimately get tired of the games or even facebook in the long run and quit? And then the companies will have to come up with something new again.
I feel that companies owning all these virtual currencies can also shut down at anytime without the need to answer to anyone.

Also, how often is a new currency like bitcoin being created and can last?
Currencies like SDG or USD has lasted for so long, albeit deprecated, but still the world uses and trust it. It is also worthless as paper but people still trust it.

And as someone else mentioned, the users of bitcoin may most likely be those who are engaging in illegal activities and do not want to be tracked by financial intermediaries or the government.

Out of curiosity, will the people in this forum invest in bitcoins?
For me, perhaps I am old fashioned but I don't believe it will last.

Bitcoins is old news liao...

Following their success, many competitors are sprouting out all over the place in the form of LiteCoins, SolidCoins, GeistGeld, 10coin, IXcoin, Tenebrix etc...

The trend looks set to continue and it seems anyone anywhere with knowledge in coding can set up shop with minimal investment.