>I am not saying that it can't be mismanaged by a state, but you do not have anything better than state fiat money.

I agree with this! At the moment I don't see many things that are better yet. I hope to see an obvious winner someday.

EDIT: For the record, I hold no Bitcoin. While it has a lot of potential value in creating Freedom To Transact, I'm not convinced the current price per unit is anything but a Pump and Dump. If Bitcoin is a Constitution of Money, it's a pretty fucked up one.