From my experience people who defend central banking usually are actually only defending US central banking, or Western superpower central banking. That's fine, but its at least a little troubling that good banking seems to correlate to some degree with having a strong military presence around the world.
In other words, I think the arguments against why Bitcoin is needed in the US are interesting and all, but ultimately miss the point (in my opinion). As someone who came from a country where the central banks were anything but amazing, and there is essentially a 5/10 year cycle that inevitably leads to hyperinflation, I can attest that these problems are in fact very real -- not scary stories told by crazy libertarians -- even if they don't happen to take place in the richest nations on earth. As such, Bitcoin provides a very interesting new hope to solving these problems in these areas, as opposed to yet another unfair loan from the IMF or exploitative foreign investments.
It's kind of like laughing at how silly filtering water bottles are because we have great water sanitation in America, while ignoring that this is a real issue in Africa.
> Even if they don't happen to take place in the richest nations on earth.
Germany 1930s - hyperinflation; Argentina 1990s - hyperinflation; USA 2010s - quantitative easing.
These can also be real problems even for the richest nations.
As you correctly mention - Iraq [1] & Libya [2] were essentially currency invasions and NOT oil invasions. Millions of innocent lives lost to keep the USD propped up. Wars that would make no sense under BTC.
It is true that QE has tremendously increased the money supply. Inflation remains around 1%. Inflation and money supply do not have a simple or linear relationship.
The oil thing is nonsense. All oil sales are enumerated in USD for historical reasons only. Dictators who face embargo by the U.S. would rather sell oil for other currencies in order to evade the embargoes.
Iran is trying to sell oil on their own private oil bourse right now. It is an operating concern, today, in 2014. They are perfectly free to sell oil for other currencies, but they are not finding a lot of buyers.
I realize you may not want to name your country, are you from Zimbabwe? The next most recent country going by the list on WP is Zaire (1998) and it wasn't repeating there.
In other words, I think the arguments against why Bitcoin is needed in the US are interesting and all, but ultimately miss the point (in my opinion). As someone who came from a country where the central banks were anything but amazing, and there is essentially a 5/10 year cycle that inevitably leads to hyperinflation, I can attest that these problems are in fact very real -- not scary stories told by crazy libertarians -- even if they don't happen to take place in the richest nations on earth. As such, Bitcoin provides a very interesting new hope to solving these problems in these areas, as opposed to yet another unfair loan from the IMF or exploitative foreign investments.
It's kind of like laughing at how silly filtering water bottles are because we have great water sanitation in America, while ignoring that this is a real issue in Africa.