I think it's completely possible. People look down upon it because of all the idiot 12 year olds that meet someone and a day later they're boyfriend & girlfriend. My second cousin met this girl on MySpace and they're going to be getting married in a few months. :/ As long as you're both serious about it and actually try, it can be real and completely possible.
I found someone really awesome once (accidentally I wasn't looking for it cuz I thought internet dating was stpid) and we were together for like 2 years irl and out, but in the long run it didn't work out.
It's whatever for me. I mean, I find it quite pointless and pathetic honestly.
But plenty of people find love on the internet everyday, so if you find love on the internet and it all works out, good for you. If not, then stick to real world dating.