> one of the big features of a modern fiat currency is the ability of the central authority to react to market changes This is also its Achilles' heel if this

> one of the big features of a modern fiat currency is the ability of the central authority to react to market changes This is also its Achilles' heel if this central authority acts poorly. There are MANY worldwide currencies which are very poorly managed. > you don't understand the level of resources that banks can bring to bear if they have the right motivation The Bitcoin mining network is now more powerful than ALL of the top 500 fastest computers COMBINED. So, good luck with that! > It's naive to think that these companies couldn't/wouldn't exploit the fact that Bitcoin is almost entirely unregulated: if they can get control of the node network and print money, it's not clear there's anything illegal about it. There isn't, but consider this: If word got out that this happened, people would flee Bitcoin, eliminating any incentive to do so, unless your only goal is destruction, and that's a pretty shitty motivation to do anything by.