Comment: Valid points, but do not

(See in situ)

Valid points, but do not

Valid points, but do not forget that we then have a situation of a free market of competing [digital] currencies.

Yes, the hurdle of a competitor might not be as high as it was for Bitcoin, but that does not mean that Bitcoins will become worthless overnight with all value streaming towards 'the new coin on the block'.
The latter has to build support, acceptance, trust, etc. etc.


"Conclusion: We will close by quoting from Ron Paul's most recent column:

As Austrian economist Ludwig von Mises explained, sound money is an instrument that protects our civil liberties against despotic government. Our current monetary system is indeed despotic, and the surest way to correct things simply is to legalize competing currencies."