Comment Re:so many problems with this idea (Score 1) 80
>a virtual currency that is in direct competition with its own pet, the Almighty Dollar.
This is what Bitcoin proponents would have you believe, but there is no competition at present, and the flaws inherent in the protocol mean there never will be.
Perhaps some other future crypto will be a competitor, but all Bitcoin does is spawn scams or payment gateways that evolve into PayPal equivalents (once they're big enough they cut Bitcoin out of the loop).
Bitcoin might be flawed or it might just be that it doesn't fit into a box and therefore most people, including Slashdotters reject it out of hand. What do you think about the $400m+ of venture capital invested in Bitcoin infrastructure in the last 18 months? Obviously not all investors share your convictions about the flaws.