That's a really neat post, thanks for sharing. I'd agree that this doesn't change the fundamentals of BTC, actually. If enough speculators didn't know that th

That's a really neat post, thanks for sharing. I'd agree that this doesn't change the fundamentals of BTC, actually. If enough speculators didn't know that this could happen, maybe this changes perception enough to doom BTC, but it would have been doomed anyways in that case. I'm not convinced that it's possible for BTC to become a widely used medium of exchange without also being a medium of account -- it's just too much friction for your average retail user to convert to BTC in order to buy something while holding most of their wealth in dollars or whatever. Why not just buy in dollars? If the only utility is to mask shady purchases, it might have a future in that niche, I guess, but that implies a small BTC economy in the long run. I guess I can see a place for a crypto currency with a stable exchange rate to other currencies, as long as the crypto part holds up and the volatility mellows out, there's real utility there for people who want untraceable purchases. But BTC as "god's currency for true believers, going to take over the world because we have an unrelated ideological beef" doesn't really impress me.