BitcoinSubmitted by kevink on Sun, 01/13/2013 - 12:24
(disclaimer: I'm not a Bitcoin expert. Below is just from what I understand of it)
Some people push Bitcoin ("Lew Rockwell even accepts it for donations!") but I have a feeling it's a dangerous idea. Wouldn't the government absolutely *LOVE* the idea of a fiat currency that they can track its usage of electronically? Sure, the government doesn't control and/or bitcoin right now but they might decide it's in their best interest to. I almost could see this being a GSE (government sponsored entity like Fannie and Freddie). The owners of Bitcoin would probably become incredibly wealthy from this but the government would require control of the money supply, ability to automatically debit customer accounts (to put the citizens under their thumb), and to spy on every transaction.
The way I see it - electronic currency is dangerous.