We're also the deepest in debt and on the backside of what's left of the confidence the world once had in the dollar or any other fiat currency, for that matter.
I don't fault you for raising an alarm about the use of cyptocurrency. I do fault you for continuing to post what seems to be your one and only source of a Bitcoin hit piece you seem to be able to find.
At best it is outdated, at worst it is outright lying.
It's dated: 6/28/2011! That's ANCIENT history!!!
There are nearly 7 million bitcoins sloshing around the Internet, worth over $100 million. Should you jump in the pool? I wouldn’t recommend it.
So, at the time this hit piece was put together, a Bitcoin was worth $14.29! So much for his recommendations.
There are many flaws in your piece and I'm not going to spend further time pointing them out. You should have done that yourself before posting something so irrelevant to today and discrediting to your position.
Btw, in the end, even this person admits the concept has merit:
Bitcoin still offers a glimpse of a future in which the dollar is digitized: No more wasted money printing paper and coins, and instead of stimulating the economy with handouts to banks, the government could just download money onto your USA Cash Card. But we won’t want to cede control of our future currency to profit-seeking financial companies (the main advantage of Bitcoins today is their fee-free exchange) or give the government any more ability to track our purchases than they do with cash. We’ll want a decentralized peer-to-peer monetary system that combines the advantages of Bitcoin with the purchasing power of the dollar.
Assuming, of course, that the dollar has any purchasing power left by the time we want to digitize it.
The author hits on some of the more important possibilities offered by the cryptocurrency concept but fails to put them together. So I've take the liberty (Paraphrasing):
We won’t want to cede control of our future currency to profit-seeking financial companies [ or central banks]. We’ll want a decentralized peer-to-peer monetary system that combines the advantages of Bitcoin with the purchasing power of the dollar.