What do you think? Where is he right/wrong?
I think your friend is mentally retarded and you should get a new friend unless you just like working with 'challenged' kids.
I agree. What exactly is his point! Why is it useless? Unless the internet/ networking ceases to exist!
I think his point is that it is "useless" in comparison with the current DOMINANT system which is exactly that: DOMINANT!
The current system is creating, financing, keeping a state of war the world over.
btw. I am still waiting for more clarification on my friend's view, but it does seem to make some sense that bitcoin would have to (in theory anyway) be able to finance an army of "defenders" if push came to shove and the bitcoin system came face-to-face with the current financial, warmongering system.
Wait what? Your friend believes we need war? What push?! Please, your friend is fear mongering. I don't need no stinking war.
Trade promotes interdependence a byproduct is peace and prosperity.
Fighting on the other hand consumes wealth, destroys prosperity and suffering is the byproduct.
Read The Autobiography of Benjamin Franklin, to find out how to create an army for defense without a central bank.
The economy is a result not a means. You don't need war to make it happy unless you are insane. *edit* if you still want a war to help teh economy make sure you are fighting on the front line.