I don't believe in the pseudo-cryptic "currency alternative" called Bitcoins. or around these parts, BiteCons. no backing and no insurance, no fleets of auditors certifying there is actually any billions of dollars of anything behind them.
here's two interesting questions for all and sundry: you can get BiteCons either by passing over real money, or by mining. mining involves doing a metric-load of mathematics to catch a cache that releases every 10 minutes.
(1) what are these calculations really worth,
(2) and to whom, for what?
inquiring NSA searchers, do you want to know? suppose they are hydrocodes? a cross-reference table of "if part A, then part B is the crack" for every piece of encryption in commerce?
is this just a miracle of multiplication that some person/team of unknown origin put out a paper on, or is there some Iran or Wackostan behind the game with alterior motives.
this could be a mere Ponzi scheme, and on day X, whoever is behind this takes all the "real" money that bought BiteCons and run for the islands and some hammocks and rum.
finally how many Flooz buys a BiteCon?
and how many folks really believe they get something for nothing?