You have some interesting thoughts, and it's clear that you've put some energy into your opinion, but I'd like to point out a few things.
Bitcoin is currently a small curiosity, it's only just becoming big enough to attract the interest of the real sharks, and I'm not convinced the creators have the resources, motivation or interest to keep the currency fair and secure once serious money becomes involved.
You might consider that this is an excellent argument for starting to play around with (dare I say "invest in"?) bitcoin. If even a small percentage of the word's commerce, or even e-commerce, is transacted with bitcoin, the opportunity is virtually unlimited while your risk is limited to whatever you put into it (a couple hundred bucks? You'll never miss it).
Many of the exchanges are still pitifully insecure (run on VPSs !), the infrastructure is not well managed (witness problem above), and the creators probably never expected it to take off or really thought through the implications.
The part about exchanges may be true, but you don't have to keep your bitcoin or cash with an exchange - you can keep it in your own wallet. As for the creators not having thought through the implications, I'd like you to consider the words of respected security researcher Dan Kaminsky who says that normally when a security researcher looks at this sort of thing it looks good on the surface, but once you start to scratch a little deeper you realize how poorly thought out the whole thing is. Kaminsky claims that bitcoin is rather the opposite- it looks pretty bad on the surface but once you start digging you realize that it is really well thought out. (source: slide 3.
Once there is serious money involved, lots of people are going to want to change the rules. If Bitcoin becomes popular it will be easy to coopt, devalue, and tax until it is just another currency, probably tied to a particular corporation or government. There's absolutely nothing you can do about that as a user of bitcoin. If the developers decided to change the direction of the currency you have your life savings in, devalue it, create a new block chain, you don't even have a vote on the matter.
This and much of the rest of your post is actually quite wrong as already addressed quite well by slashdot user "seizer". I would also encourage you to do some more reading about bitcoin - it's fascinating.