Comment: Pretty much.

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In reply to comment: It's still a new currency, so (see in situ)

Pretty much.

"What you are saying, is that this hypothetical identical currency would be such a large threat that it could immediately render a 3-4 years head start to NOTHING and make it go down 90% in value."

Take out the word "immediately", add some other circumstances (major security issues, new currency is widely accepted by major businesses) and that is my basic claim.

Don't get me wrong, I think Bitcoin and its ilk are a step in the right direction of getting away from government money, and for short term exchanges under the radar, right now Bitcoin is king.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417