This is going to be more of a collection of thoughts and opinions, it's probably going to be messy.

When I found out about bitcoins I was really interested, the idea of money without a central government is a pretty cool idea, but it's just that, an idea. I honestly don't see any value in bitcoins, the majority of websites don't accept them and I think it's more of a fad. My views aren't all negative on it though, I like the idea that there are only about 21 million bitcoins that are mineable, after that all production stops for it. toricredits, they're worth about 7-7.5k per USD. Toricredits are only for toribash, the only reason why toricredits are worth 7-7.5k per USD is because we say it is. Toricredits are literally worthless, if we don't believe it has value it's worthless. Same with bitcoins.

So what are your thoughts on bitcoins/virtual currency and toricredits.

Both crypto-currency and tc have value because of scarcity. In the case of crypto-currencies it's because it's difficult to mine them, in the case of tc because you have to play games or buy from nabi. That's how they get their value. Both will inflate if more users join and increase demand.

Most of the reason people like btc is because of the anonymity and security, most people don't mine.

BTC and other cryptocurrencies would be a perfectly good, stable monetary standard if the world was inhabited only by people who actually understood what they are AND if stupid shit like the sacking of MtGox didn't happen.

The problems
- Not everyone accepts them (because they don't understand the idea behind it)
- They aren't that safe (think of that poor sod who had a HD with a few hundred bitcoins stored on them and lost the HD)
- You have capitalist hoarders who don't understand that by hoarding, the coin actually loses value

Compare a bitcoin to a diamond. In se, it doesn't have real use, but it's still worth a lot because it's rare and took a lot of effort to find. You can cut glass to look like a diamond, but it's never going to be as valuable as the real thing. The value doesn't come from what it is, but what it took to get it.

But diamonds are tangible
Bitcoins are not. Bitcoins are images and numbers. I don't see the value

Rocks are tangible too. What's your point?
p.s. your signature inspired me

My point is that objects like money/diamonds are legitimate things vs an image on your screen with a number next to it. Bitcoins is a cool idea but I just cant see the value.

People pay money for it, therefore it is valuable.
If you cannot grasp that simple concept it'll be hard to explain it to you.

How do you not understand this simple concept of economy? How do you (allegedly) understand Einstein's field equations, but not this? Something's worth whatever some sucker is willing to pay for it. Besides, they're not just numbers. They have been mined, just like diamonds. Diamonds are tiny bits of carbon with no use whatsoever. Aesthetically, they can be matched by glass or zircons, mitigating any intrinsic value. The value is scarcity and the effort put into obtaining them?

The value of bitcoins lays with its functionality, imo.
You can instantly transfer any amount of bitcoins without any transactionfees that are worth considering.
The community that evolves around those cryptocurrencies create a great demand for 'em.

I don't think bitcoins are good as they function now. They are more of a commodity than a currency because people don't buy them in order to exchange them for goods, but buy them in order to sell them for profit. Same thing many people do with various kinds of resources.
Additionally the huge value swings are a huge turn off. Hackers frequently attack various networks and cause great losses in value.
I believe in the future, when the technology has been developed in a way that those currencies are more robust and stable, those currencies will ultimately directly compete with traditional currencies.