[Philip Lelyveld comment: the author, Mike Terpin, is a long-standing LA business leader and entrepreneur.]
In 1994, there was tremendous skepticism about the Internet (people scoffed at claims it had a reach of 20 million people; I recall a TV executive at the time scoffing that "19 million of them are students and professors overseas").
So is this an amazing bubble ($1 billion in value, up from less than $10,000 at its inception in 2009) about to pop, the beginning of a ride to where the bitcoin rivals gold as an asset and the dollar as a currency, or the start of a ride that goes halfway up and then gets destroyed by hacks, government bans (which would be hard to enforce given its completely distributed nature -- it would be like banning barter) or the rise of a newer, better digital currency?
See the full post here: http://www.socaltech.com/articles/will-bitcoin-spark-a-wave-as-big-as-the-internet-/a-00234.html