In its current form, Bitcoin is only practical as a store-of-value and for use in markets that require anonymity such as online black markets like SilkRoad. If you're betting on it being the general currency of the future, you have little ground to stand on.
I am working on a solution as we speak. See Codename: EasyCoin. Otherwise, don't hold your breath.
I'm done here.
Wow! How's that for someone who has invested "17 days, 6 hours and 40 minutes." into bitcoin.org to this day (
http://forum.bitcoin.org/index.php?action=profile;u=3278;sa=statPanel ).
Bitcoin digital good commodity (also used as currency medium of exchange in barter transactions for other goods services currency) are being produced by a capital intensive network of computing power, human endeavor with accompanying running and maintenance cost to the beat of ~12 THash/sec, making it a VERY secure cryptographic key pair signing network. This may be compared to an average laptop signing security of 600 kHash/sec - the Bitcoin network thus equates the calculation security of ~20 million laptops. This network signs 50 new Bitcoins approximately every ~10 minutes with a precious unique cryptographic keypair that as a difficulty adjustment in its intrinsic value (that has been sieved and extracted to be mathematically pure amongst the numerous rubish combinations of 0's and 1's).
Gold physical commodity are being prospected, excavated and extracted at a similar high cost to its value. It is increasingly more difficult to extract gold from the earth's crust. Early humans have collected it from the surface, today some humans enter the bowls of the earth up to 3km in depth to collect the precious cargo, before it gets sieved and extracted to be 99,99% pure gold atoms.
As a question - how secure will your EasyCoin be - will it be very easy to counterfeit or will its value roughly equal its production cost. Or will EasyCoin not be a digital commodity like Bitcoin (although it is also used as currency/medium of exchange , among its other uses like message signing, secure web identification, or message encryption) but just a script/promissary note currency, not having intrinsic cryptographic value? If this is the case, wouldn't your project not be falling within the realms of digital manufactured goods and communications technology - but within the realms of financial services?
