Your argument is, paraphrased, "bitcoin is bad because it is new and does not fit well into current conceptions of money and current payment systems." Well, fi

Your argument is, paraphrased, "bitcoin is bad because it is new and does not fit well into current conceptions of money and current payment systems." Well, first of all, most of this friction only happens when trading bitcoin for fiat. It's the fault of the existing system. I can send any amount of Bitcoin in 5 seconds, anywhere in the world where there is an Internet connection or a reasonably good cellphone. So can any kid (who can't get a credit card), so can any third world unbanked person. You simply cannot do that trick with any other currency. Cryptocoins, led by Bitcoin, truly are "of, by, and for the Internet". Secondly, shit changes. Look at what the Internet did, and it too had its famous skeptics: http://kenhoma.wordpress.com/2011/09/15/the-internet-is-just-a-fad-newsweek-feb-26-1995/ http://kenhoma.wordpress.com/2011/09/15/the-internet-is-just...