It does, my friend. It does. The decision of how many numbers should be created in some bank's computer is taken by some very real objects or rather subjects, not by some open source network protocol!
Exactly. They're digital, and can be created
at whim! (i.e. whatever these particular subjects prefer)
That makes it even
less real or trustworthy than Bitcoin, which is also digital but created according to fixed, predetermined mathematical rules that nobody can temper with.
And those real object/subjects will do whatever they can do to defend the privilege they have.
Sure they will, but it's a lost cause
(and doesn't change the fact that euros and dollars are indeed digital, just as much as Bitcoin)
Face it! You can not legally create and operate p2p exchange for fiat currencies. Existing laws and regulations in every country are all targeted to prevent exactly this from happening.
Theoretically, you can't legally do p2p file sharing either, due to copyright laws and what not. Yet it happens all the time.
Read also
this topic about the new kind of p2p exchange that will soon become reality. Laws and regulations won't help. No government can intervene against this, because (as opposed to the existing Bitcoin exchanges or intermediate services like Dwolla) there is simply no particular person, company, website, server, or other entity that "they" can seize to take this exchange system down.
