I agree completely with your analysis of what is wrong with bitcoin. I read an analogy a few days ago that said something like "imagine if I created something called 'IdleCoin' that you are awarded with if you leave your car idling all day." I thought to myself "yeah, and then imagine if the length of time you have to idle your car to get a coin increases as more people collect the coin." Once a person realizes how bitcoin works, it seems completely preposterous.

I'm a fan of AgAu gold myself. I can't wait for it to be released early next year. I agree that the transaction fees will be a problem in the beginning. But my hope is that Tarco will get a crypto bank started very quickly, which will eliminate transaction and storage fees and allow savers to earn an interest rate. I think this is the worst problem the world faces today; the problem of no one being able to earn a yield on his/her savings.

I like Steem too. But Steem seems more like an equity than a currency to me. It's kind of like owning a tech stock. it's got great growth potential, but I think it's too volatile to serve as money.

Great post though, Socky. I always love reading your articles.