An interesting post on Bitcoin from Rick Falkvinge, who is a huge fan of it. He does a rough estimate of what a bitcoin should be worth as a medium of exchange, and gets around US$1.12. He thinks the current valuation of $142 is pretty much due to price fixing that would be illegal in any other currency, and he gives full details of the scam he thinks is going on.

I'd love Bitcoin to replace Paypal, Visa and Mastercard for online transactions, but I still think anyone getting into it to make money is auditioning for the role of sucker.