Besides the somewhat strange economics, the greatest problem of any scheme like Bitcoin is that it is a gigantic waste of resources. Mining, which is needed to

Besides the somewhat strange economics, the greatest problem of any scheme like Bitcoin is that it is a gigantic waste of resources. Mining, which is needed to operate the system, basically amounts to an arms race between miners. If Bitcoin were actually used as a global currency, it seems realistic to suspect that a significant fraction of all global computing power would be used just for mining. Does that seem right to you?