You might be correct, but neither the Fed or the credit card are on the build up part of the curve, they are established and accepted institutions. I am not versed in electronic currencies to make any forecasts and I don't pretend to say that this dooms the currency itself. For me it is novel that it has similar flaws as the regular accepted currencies and that it can be stolen in relatively big amounts.
I'd place the status of e-currencies at the same spot in technological development as steam engines in the seventeenth century.
I did a google search on the missing $9 trillion from the Fed and one of the initial finds was from "ufo-blogger.com" Couldn't find any remotely mainstream news site reporting on that.
Well since we can't edit the Fed, we really don't know which was more my point than "the Illuminati stole our money!!!!!" Bitcoin, on the other hand is completely transparent.
My issue is how Huff Post immediately slants it's position in the first line of the article. It's poor journalism. I think however it's well understood that there will be flaws along the way. It's part of the growing process.
There are ways of hiding your use of Bitcoins; while the coins themselves can be traced, their users cannot.
That's sort of the point. The transactions themselves are completely transparent, though, which is what I read MitH to be saying. There's quite a bit of talk out there that BTC is better off for the loss of Mt. Gox. Some thought it was a major contributor to the instability that has been seen. We'll see.
I think that the structural problems underlying Bitcoin are manipulable even in the absence of Mt. Gox, and that tying currencies to addresses will always have its problems. The solution might not even exist yet.
Given enough time, ANYTHING is "manipulable". People are always coming up with ways to steal fiat currency, and people are always coming up with ways to hack servers. People are going to continue to come up with ways to try to steal ANY currency. And even if you mean (which I now suspect - this is an edit) that eventually, something will take Mt. Gox's place in the role in which it found itself, I agree. This makes it no different than just about anything else.
As I've pointed out before, the Fed is most certainly audited. http://www.federalreserve.gov/faqs/about_12784.htm
To all those people tired of their "worthless fiat paper currency": You can always give me yours. I'll happily take it off your hands. Thanks!
Soupy Sales beat ya to it: "Kids - remove those funny green pieces of paper with pictures of U.S. Presidents" from their pants and pocketbooks. "Put them in an envelope and mail them to me", Soupy instructed the children. "And I'll send you a postcard from Puerto Rico!"
I thought if you really thought fiat currency was going out you needed to start growing your food and buying gold.
I'll gladly exchange them for your doubloons at a favorable rate. I'm surprised you of all people would make such a generous offer.
Gold works for me, but I'll also accept those green federal reserve notes if somebody is eager to dispose of them.
Yikes ... the Five Families? http://www.nbcnews.com/business/bus...currency-exchange-found-dead-singapore-n45101