Comment Re:Amazing what the absence of govt really means (Score 4, Insightful) 148
"Jumping out of the frying pan and into the burner" adequately describes your position.
Currency is at its basis is valued in confidence. By that measure bitcoin not very competitive with almost any currency in the world.
My dollar means nothing to me because it can't be counterfeited and/or anonymously transmitted. It matters because when I head to the dealership to buy a car the value doesn't go down by 40% while I am finishing the paperwork, and also because when I go to the bank to withdraw it they *can't* say "sorry we got hacked, follow our twitter feed for updates".