Re: Why bitcoin will fail from it's own success..

The U.S. government doesn't like competition...

I live in the UK, why would the US government interfere with something I use? (Not saying they wouldn't, just curious as to why one government would take exception to an international currency).

Incidentally, the US dollar already gets a lot of competition - GBP, EUR, JPY, CHF, CAD, AUD, XAU, XAG ... etc :-)

Although the US Fed usually has the internet spotlight, don't forget that your own country has a national reserve authority as well.

Sure, but the same applies to the UK treasury/Bank of England/whatever as well - why interfere with an international currency? All the UK can do is prohibit me from using bitcoins - non-UK residents it can't touch. One government is a problem only to a subset of bitcoin users, and bitcoin is not directly analogous to national currencies anyway.