What is the purpose of decentralized currency (the decentralized part anyway)? Relatedly, I do not understand the allure of cryptocurrency, to me is seems like a novelty; I've seen the cryptocurrency -> anarchy link but that always seemed like nothing more than a plot device to me.
When the authorities want to go after bitcoin and shut it down like e-gold or the liberty dollars people, there is no central place where they can attack. They have to insert half the computation power of the entire bitcoin network to break it.
I haven't read/listened to them, but I thought these might be interesting to the local bitcoin users:
Eli Dourado (GMU econ PhD candidate) on the economics of cryptocurrency.
Econtalk podcast - Russ Roberts (GMU econ prof) with Gavin Andresen, Principal of the BitCoin Virtual Currency Project on, Virtual Currency.
Roberts' podcast is always stimulating even if I disagree with him, and Eli is a pretty insightful guy who I've met in meatspace.