Dollars are backed by the full faith and credit of the United States Government, which is why they are universally accepted, and which is why US Treasuries establish the risk-free rate.
Bitcoins are accepted by online gamblers in much the same fashion as casino chips, by ideologues offering marginal services as political statements, and (allegedly) by criminal enterprises.
If bitcoins are mostly interesting to you as a way of reasoning through how economies would work in a world without established governments and economies, that's fine, but could you just say that? Because it's hard to pick out which of your arguments are pie-eyed what-if's.
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Dollars are backed by the full faith and credit of the United States Government, which is why they are universally accepted, and which is why US Treasuries establish the risk-free rate.
Bitcoins are accepted by online gamblers in much the same fashion as casino chips, by ideologues offering marginal services as political statements, and (allegedly) by criminal enterprises.
If bitcoins are mostly interesting to you as a way of reasoning through how economies would work in a world without established governments and economies, that's fine, but could you just say that? Because it's hard to pick out which of your arguments are pie-eyed what-if's.