I see so many red flags with Bitcoin that is amazes me that it still has its backers.

There would seem to be organizations (states?) that can wield tremendous resources to mine Bitcoins. I would think this would devalue the currency and, as is so often the case in life, fuck over the little people.

Never mind the insane amount of actual energy resources needed for this virtual currency. It almost seems immoral.

And with exploits like the one in this article, how can anyone continue to have confidence in it? It feels more akin to Confederate money printed during the U.S. Civil War.