Originally Posted by DWB

In theory, yes, it is a horrible idea for various reasons.

1) Every fiat currency in the history of the world has failed. The current financial mess is the beginning of the next round of fiat failures.

2) The fact that it is anonymous is what is going to ultimately cause problems. As soon as it can be linked, or even think to be linked, to funding terrorism or organized crime, it is over. The USA will find a way to put an end to it as soon as they think it is an issue.

3) Your excluding banks and the people who control the money supply. Everyone knows how that always turns out.

Make your money now with it, as there is money to be made, but I wouldn't bet on it being a long term currency unless 1 - 3 above are dealt with properly. Short term, I do see it working out for a while. Long term has too many odds stacked against it. However, only time will tell.