OK, I heard so much about Bitcoin and was looking for more information on what exactly it is and how it works i found it preety promisihing and i want invest few bucks on those currencies and wait for atlest a year or two to see what happens but the problem is they have almost 146 cryptocurrencies or even more. Does anyone  has any idea on those currencies and its future. Do you think it really replaces the current banking systems? Does it worth investing on those currencies which has less value ? How do we know which one might have a value like bitcoin?

I think there would be some form of Crypto currencies but still regulated by banks or some big recognized entity. All those you are hearing now like bitcoins, litecoins etc are rising just because of speculation.

Also I read some article that you can mine (generate) the bitcoins from your own laptop, but it just requires so much electricity for running the program to create a unique hash that it surpasses the value of coin you created let alone the time spent for the task. If you have not understood crypto currencies, it is easier to understand if you search for "how to mine cryptocurrencies" than "what is cryptocurrencies". Also interesting is, people can steal your cryptocurrencies, but cannot use them, because of the way transactions occur.

>> Do you think it really replaces the current banking systems?

The People’s Bank of China explained that Bitcoin isn’t a currency “in the real meaning of the word,” and cited the risk of money laundering. India’s central bank objected to Bitcoin’s volatility and its lack of “backing assets.”

http://www.marketwatch.com/story/what-a-bitcoin-is-really-worth-in-india-and-china-2014-01-01?dist=afterbell