Last week, I posted a scathing bit about Bitcoin, which raised the ire of bloggerhood stalwart mikey, who has posted a detailed rebuttal to my post. I make it a point not to substantially alter my posts, and I am still skeptical about Bitcoin, given its volatile nature- while the concept of cryptocurrencies may be sound, I am of the opinion this particular one has been implemented in dubious fashion.
At any rate, I am not the sort of person who shies from controversy, and, if I need to take my lumps, I will take them. As I indicated in my previous post, I have a close personal friend who has been involved in the scene for a long time, and has enough confidence in the currency that he used it to pay tournament prizes a few years back. At any rate, please read mikey's detailed analysis of Bitcoin.