"This is a wonderful thing" - Mike Maloney speaks on Bitcoin

"Free-market money, Bitcoin is an attempt at that" - Mike Maloney

[youtube]http://www.youtube.com/watch?v=XZ4bVgzxp2g[/youtube]

 

well... it's an "attempt". I agree.
But it's flawed.

Bitcoin 2.0 might have more success.

 

Bitcoin is still in beta. http://bitcoinmagazine.com/11831/bitcoin-beta-longer-gmail/
Why is it flawed? Has someone been cheated via the code or something? Bitcoin is not perfect, nor is it competing with perfect. To simply state that "it's flawed" would require something of substance to back this up, IMO.
Bitcoin is an evolving technology that has started from scratch to evolve into something Central Banks across the planet have found reason to comment on.
What would account for more success.

 

With this same logic, everything is flawed, including all fiat and precious metals.

 

99999 Gold is "flawed"