@DrXym Re "Wut"
I am quoting your post in full - it deserves it big time!
""No regulation is better than bad regulation. The fiat monetary system is possibly the greatest failing of the human race, and the bungled attempts at regulation would be laughable if they weren't so harrowing."
No it isn't. Regulation stops you from being fleeced, it gives you protections from dodgy banks and lenders who would exploit you, it is borne from painful financial collapses in the past.
And you still haven't addressed why bitcoin (which is also fiat btw) a safe investment as opposed to buying land or something else which is tangible.
"There is nothing inherently unsafe about Bitcoin, like any type of cash, its important to store it securely."
Yes there is. Maybe you haven't been paying attention but some guy just got hosed by a theft. If the thieves decided to cash-in that money then everyone else's investment will slump because sellers will outstrip buyers and the price will collapse. If there are no buyers and only sellers then bitcoins are virtually worthless. And that will be just a taster of what happens when the entire sysem collapses and EVERYONE wants out.
"As for collapse, my analysis is that in the long run, Bitcoin is probably less likely to collapse than any other currency. For now though I have not spent what I cannot afford to lose."
Well your analysis appears to be clouded by some peculiar libertarian notions. Even buying gold / silver in the current speculative bubble is probably a sounder bet. Or perhaps you should even invest in some tulip bulbs. I hear they are a surefire investment too."
I could not have expressed it better!