i don't think network effect applies here the way many have been claiming. twitter & the like 1) were not open source 2) kept a significant user base early on

i don't think network effect applies here the way many have been claiming. twitter & the like 1) were not open source 2) kept a significant user base early on while bitcoin does have a big user base, currency is a more personal thing and if people see too much volatility they'll just pick the one that is most stable, meaning without this flawed crazy dispersement scheme i, for one, do think Bitcoin is a ponzi scheme but it's a more complex one with a lot of Game Theory involved. That's whats unique about the scheme -- it guarantees the founder and early adopters a ridiculous amount of wealth, while still having the ability to satiate the greed/hope of new buyers Also people need to stop comparing this to company/stock valuations. Those are more like an estimate of a company's worth whereas in Bitcoin the figures given are always a supposed value of currency unit. Consider this -- when companies sell stock it is to fuel more work and production within the company. When a Bitcoin is sold for $600, it is so some dude can by a Playstation 4. It's not attached to lifestyle in the same way as stock/investment in companies.