Firstly, I am a political scientist, and historian, with very little knowledge of tech matters, and even less faith in this medium, in general. So, if something I say here is infuriating to you, or if anybody actually reads this, and it reveals a systemic ignorance of all things digital, forgive me...assuming anyone actually reads this.
And when the Emperor threw off his robes, the new clothes were not there, the old clothes were not there, in fact, he was absolutely naked! -from The Emperor's New Clothes
When BitCoin was created, it was the first time in history that an intellectual presumption was given a value, based on the designer's declaration, alone, which could then be traded for goods and services within the virtual marketplace. What made this unique as a currency is that it is a quantum leap into the reimagining of our most consistent and human practices revolving around representative currencies, and usages of them.
In the US dollar's case, it represents neither gold, nor silver: it represents international oil-market fluidity, as well as the military disasters, which the US, in essence, promises as consequences for interrupting that trade, or being Communist, or a terrorist, or so-inclined as to entertain these notions.
- There is a undetected security flaw and the value of the cryptocurrency fails, or
- BitCoin, for example, were to split into several other kinds of cryptocurrencies.
The concept would lose its viability, and be filed under, "now we know", reeling from thefts becoming the lethal corporate presences' injurious consequence, should they go from cryptocurrency to cryptocurrency buying all of them up...
These are just a few reasons dismissing this concept, things that make me say, "no, uh uh..." besides the horrific things most often associated with the Dark Net, where cryptocurrencies feature almost exclusively.