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Re: 5 reasons grids should avoid BitCoin

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Your comment about Biebercoin indicates that you don't (want to) really understand why Bitcoin is not Linden $s, or WoW gold, or Faceboot credits, or Canada's MintChip, or whatever.

Bitcoin is not any of those because it is decentralized.  Successfully decentralized.  And it has grown through a vulnerable phase that no other decentralized digital currency has made it through.  Bitcoin made it through  because it was not a threat to any other digital currency, and not seen as a legitimate threat to any other currency, fiat or otherwise.  In other words, it was not attacked back when it was vulnerable.   A digital currency, decentralized like Bitcoin, hoping to be the successor will be a threat to bitcoin.  If it relies on proof-of-work just like bitcoin, it will need some very deep pockets to even try making it through the vulnerable phase.


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