I've been seeing some people around the net attempting to explain Bitcoins to the layman. Their explanations basically center around all the bad things that have happened or are possible with Bitcoins.

Some of these people have hidden agendas against the open currency, or perhaps they just don't fully understand it, I'm not sure. One thing is for certain, someone has to put these cretins right! Yep, cretins, as I can't think of a better name for anyone who is against improving money.

A lot of these "Bitcoin problems" are basically what can happen when you pay using cash, and therefore cash itself is also subject to these "problems". A lot of these problems are something that has occurred to companies that center around Bitcoin; ie. exchanges.

One thing that needs to be made clear, is that none of the problems so far have been DUE to Bitcoin. As in, the Bitcoin protocol is still working properly, and people are still sending each other money, world wide, almost instantly, and very cheaply.

There are heaps of documented potential failures of Bitcoin, heaps of attacks, and so on. However, the protocol has been running since 2009, and as of today we have yet to see a major problem. The protocol is being constantly tweaked and improved, to iron out niggles and so on, and that's one of the best things about Bitcoin. I'd like to see someone tweak the way regular currency works.