This isn't only the best thing I've read on Bitcoin, it's the best thing I've read in a while, period. Informative, funny, cogent. Nice job! I actually got a chill from the last few sentences.
I have to re-post a few of my favorite lines:
The press conferences of someone like Bernanke would become less and less important, because the currency he printed would be used in narrower and narrower circles. Instead of fighting the government, Bitcoin enables individuals to sidestep it - to ignore it to a large degree.
Taking down Bitcoin websites would be like cutting the heads of a Hydra - for each successful severance, publicity and the profit motive would compel more sites to spring up (case in point: how many file sharing sites exist, other than MegaUpload?).
Bitcoin is a highly volatile commodity with an extremely uncertain future. Grandmothers should not be putting retirement money into Bitcoin (nor in US dollars, for that matter).
There was also a line about a "decree by Bernanke" that I can't find, but for some reason made me laugh.
You also nailed the why Bitcoin is valuable question.
This should be spread far and wide.
