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While I share the concerns about bitcoin and the IRS (look at other alternative currencies such as the "liberty dollars" for an example on how the Feds tend to deal w/ people setting up their own currencies...) if you think about it the level of risk is probably slightly higher than Paypal.
Paypal seizes accounts daily for little cause but as long as it doesn't happen to "you" people really don't appreciate the level of risk. It's manageable though via specific strategies (get your money out quickly and often) which would probably apply to bitcoin.
Where it might be worth accepting in the short term and for very low cost products my concern is that sooner or later the legislative loopholes will be closed. You can count on that, the Feds move slow but they WILL move on it sooner or later. How that impacts the people using it depends entirely on HOW they use it and what their role in it might be. (I would avoid taking any role involving the promotion or sale of bitcoin / bitcoin related products if subject to US jurisdiction / extradition, personally).
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-= Software / Systems Architect and Server Geek =-
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