It's only the beginning. The fiat economy is catching fire everywhere as the credit bubble implodes, which will implode every other bubble in commodities, education, housing, etc. until it hits a major bank that will tank the unregulated derivitives bubble (the Mother of all bubbles!), which will effectively kill the economy with a financial meteor strike.

The game is over, most just don't know it yet. I watch the graphs every day, and none of this is heading anywhere good. The global ponzi scheme laid out from the Federal Reserve is running out of gas. I don't think it will be long before extreme capital controls are everywhere, and bank runs are common all over as everyone tries to bail out.

The only place to go will be digital currencies. A run on the banks could very well spark a run on Bitcoin at the same time. This already happened once last April when Cyprus bank decided to basically steal funds from their depositors and Bitcoin got a huge spike. That was only a taster of whats to come.

Strap on your helmets, we're all about to go for a wild ride as the world changes drastically.

Every time your country panic sells, we buy.  Pretty soon, the majority of BTC will be back in U.S. hands.  And long term, the U.S. will have the predominate amount of bitcoin holders of any other country.

So yeah China, please keep panic selling.  The new currency war has begun!!  <insert dramatic musical score here>

 

FYI this mind-blowing idea was given to me by someone, whom I wish not to expose at this point.
They can join the discussion and reveal their identity if they wish.

Have there been any attempts at creating a "cryptocurrency" that isn't based on money, but rather on human beings?

The goal:

To see whether we can create a cryptocurrency that lets every human vote on issues.

Possible angle of attack
Base the cryptocurrency on hashed fingerprints.

Each human in the world (mostly) has a unique unforgable fingerprint.
We distribute voting machines to all places of the earth (even on smartphones etc.)

These voting machines are in fact a p2p network using a public ledger/blockchain.

When a person votes, a cryptographic time-dependent hash of his fingerprint is created and distributed over the network.
The hashing algorithm depends on the issue that is being voted.

E.g. if we ask the world "Who do you love more, dad or mom?", the hashing algorithm turns each fingerprint into a unique vote for this specific question and broadcasts it into the network, and results are revealed.


Use Case
World government. Instead of the semi-centralized / hierarchical government structure we have today, we can have a truly decentralized, anonymous government for the entire earth.