Good point SuperHakka. But as long as the 'attacker' is able to print unlimited money out of nothing this fight can go on until Bitcoin vEndless. Of course they do not really have to print the money, they simply can change some bits on a computer and the fight goes on as long as both parties are fighting. Let's hope Gandhi's statement in your signature is the key.

I never said we need any state at all. States depends on centralized powers. Split the power makes it less worse for a while but isn't the solution and doesn't really make sense as long as these constructs work centralized within them self. It would just be a matter of time and the powers from each area will merge again. We need something on the top of the 'pyramid' we can trust instead of people. Once again: Bitcoin is a step in the right direction. But there is a lot more to do. As long as the most of the people are that brainwashed to believe our system is the way to go, it's very hard to succeed for any creation trying to protect our rights and freedom.

@Holliday: I see your point. I do not have a solution for this problem. Otherwise I would share it.

@paulkoan: Those who can print money out of nothing do not have to care about the value of the money. They can print as many as they want. As soon as Bitcoin become a real threat for the fed and their USD (or whatever the global currency will be called) they are able to simply print enough money to be able to buy nearly all coins and make them useless by hoarding or 'destroy' them. Why they would do it? Simply to keep their power over the money system and so almost all of the areas. We need to learn that no centralized creation (like all the FIAT currencies) has any value at all. Otherwise there is no solution to this mess that is going on since at least 130 years.

I may don't understand it right, but your idea will not eliminate the problem that the trade between coins and FIAT defines the value, right? Bitcoin is a great commodity and great for transactions and we currently need nothing else for this. But I see that Bitcoin can't work as a currency because of the exchange with FIAT stuff. How your idea makes sure FIAT currencies can't manipulate the value of your cryptocurrency?

I would like to add the following comment into the ''Will deflation be the fatal weakness of bitcoin?' discussion but I'm still marked as a newbie and can't reply there so I have to write it down here. It would be nice if someone can quote my comment there.

The deflationary property can be a threat. But I see a much bigger problem: With the 21M limit there is a chance that someone can hoard nearly all the coins and make sure Bitcoin become useless. As long as people believe in some value of any FIAT currency and support them by using it, the once who can print that money are able to buy nearly all the Bitcoins over time and make sure this great creation is no longer a threat for the elite. Without the 21M limit it's more difficult for them to hoard 'all' but the problem isn't really solved. A way to keep Bitcoin alive would be keep it in the geek world and make sure it will never be a threat for the elite. I would like to see a solution for our financial mess and Bitcoin seems to be a step in the right direction but it's by far not the solution. It doesn't really matters if there is the 21M limit or not. This is just my opinion. Some will agree, some will disagree . The question is how a creation should look like that is able to dis-power the elite? It has to be something like 'free money' (free like free software, free speech, instead of free beer). This is kinda difficult, right?

I would like to tell you about our idea of creating a service that provides PSN card codes for bitcoins. I know that there already are some websites and individuals selling card codes for bitcoins but I haven't seen just one that have good enough prizes and I also can't tell if they deliver you valid and unused cards or just try to scam you...

More about our idea is available in our community forums at PSN Cards for Bitcoins.

No one have the power to destroy such a great creation (that already is established). Maybe it will not be bitcoin in it's current state but there is a huge chance that a decentralized money system will lead the market sooner or later.

It doesn't really matter what the rates will be in 2013. Try to think in the long term and I hope the most in here will agree that bitcoin will succeed over time. But for a quick answer: Everything points to a higher USD/BTC rate in 2013 than now as long as the usage of decentralized 'currencies' do not become illegal until next year. To be speculative: I choose something between 20 and 30 USD for 2013. The government has the power to stop/break the best inventions for a short time but it never worked in the long term. So it's also possible that bitcoins will loose a lot of the actual value in 2013 but the chance that the value increases over time is very high.

Bitcoin has a huge potential because of the decentralization, speed for transactions, possible security and privacy in it's design. Anonymity isn't really a part when it comes to the standard user. Non-technical users will never understand what bitcoin really is, but as soon as there are a lot of great software and web services available that makes it easier and saver for everyone to use bitcoins (not just for transactions but also for storing 'money') than anything else before, a lot more companies will start using it and any FIAT currency (not just the USD) will loose a lot of it's value and all the actual bitcoin holders will be billionaires ;). It's still just a construct for trading money instead of a fully accepted 'currency' because no one knows about the government's reaction (especially these days) and so it's very risky to store money within bitcoins in a short term. They will try to fight against such decentralized networks like they try it every time without any success in the long term. Every fight against it will make it stronger. I think it will be a very long fight for the whole bitcoin economy but I also think that bitcoins will win the fight and be the currency of the future sooner or later. So try to think in the long term and the chance that your bitcoins become more and more valuable over time is very high.

Keep in mind that all this is just speculation and the way I see it. I'm not a finance expert.

My name is Wasi. I'm from Switzerland and born in 1988. I'm new to the bitcoin world. As a Web Developer and the director of Geekweb I'm interested in further development of any kind of bitcoin based web projects. Checkout my personal website Wasi.li for further information about myself.