Quote from: manman523 on June 10, 2012, 05:32:00 PM

What I mean is that it is a finite amount, unlike the currencies we have now that are completely arbitrary. The entire system of currency governments rely on would have to be uprooted for bitcoins to work and I just cant imagine that happening.

The fact that governments and banks can currently create money out of thin air as they see fit, is the exact problem that is leading towards the collapse of the dollar and euro, and the current monetary system in whole! See also the documentary "Money as Debt" (mentioned in this topic).

You see, there is a finite amount of value in the world. Products, goods, services - stuff that people need and want, and therefore have value (of course these can be created or produced, which costs work). Money is merely a measurement to express this value, and to easily trade them. Essentially, money is just advanced bartering. When I go to the bakery and want some bread, I don't have to paint the baker's house in return, I can just give him some 'coupons' that he can give to a painter later to have his house painted (or spend it otherwise, as he sees fit).

By printing billions of extra dollars, banks do not intrinsically create more real value. They are not actually solving any problem! They're only temporarily covering holes with newer, bigger holes. This can only hold for so long. Almost every single dollar or euro on the planet, came into existence as debt. This total debt is way, WAY beyond all the work or value that we could possibly ever actually produce. The end of this ridiculous system is nigh.

Governments and especially banks will indeed not be happy at all to adopt Bitcoin as an alternative to the old fashioned money that they control. Well, too bad. Luckily we don't need them.