Thanks for your comments. Always interesting with another perspective.
I have to admit John touched on some very good points above. Bitcoin, as it functions currently, is not suited for exchanges. In economic terms, it's not considered money (despite currency being a part of its name... ironic). Instead, Bitcoin is a speculative asset.
I've written about it here:
The article you originally commented on is not a lamenting on Bitcoin. I don't believe Bitcoin is fraudulus per se.