Bitcoin works great because it is decentralised.
80% of bitcoin trade happens at Mtgox which is centralised.
WE NEED A DECENTRALISED EXCHANGE SYSTEM NOW!!!!!
This is my solution:
www.poundcoin.orgI have already started one. It is superior to Ripple in that the users can make money in two different ways.
See:
https://bitcointalk.org/index.php?topic=145389.0BTW, I am not making something that will be under my control. It is truly decentralized.