"Reducing the friction of financial transactions definitely creates value." Crypto-currencies are entirely unecessary for this. I pay most of my bills 'digita

"Reducing the friction of financial transactions definitely creates value." Crypto-currencies are entirely unecessary for this. I pay most of my bills 'digitally' with 0% transaction charge. 'Friction' is ultimately derived from 'regulation' - which is a necessary condition when dealing with real money across an economy. One could argue there is 'too much regulation' - that said, without it, the economy would crash instantly due to mass fraud, corruption, embezzlement, tax avoidance etc. etc.. Irony: the moment 'Bitcoin' is important enough to be considered a 'real currency' by governments - 'poof' it's under regulation and loses a great deal of it's value in this area. The 'solution' to e-currency is not Bitcoin, it has too many downsides for practical purposes. It's a great intellectual exercise, and something good may come of it, but 'it' is not the solution.