I suppose its only to be expected here but thus far I've not read any responses that actually comprehensively refute the issues the article raises, which is quite disappointing.
And I find the response that glorian posted, while containing some interesting information, actually reads as an elitist and rather poorly written rant. It certainly doesn't address the fact that the last GFC was indeed caused not by regulations, but by lack of regulations. The idea that anther unregulated market is going to turn out the same is highly likely.
As Buffet says "there's an economic war going on and the rich are winning" - I'd suggest most btc-coiners simply want to make sure they are on the right side. This forum is probably the most visible representation of btcoiners and let's be honest there are more users motivated by personal greed than altruism.
This was also a below the line response and I can refute some parts of it myself.
What is Bitcoin supposed to be to make it valuable? Is it a currency, is it a technology, or is it a commodity?
If it's a currency, what real wealth is it backed by? What entity, state or otherwise, stands behind it and what are that's entity's resources, history and trustworthiness? What in the real world is it a claim against?
If it's a technology, how does buying individual Bitcoins buy you a share in that technology? The first steam engine was a tremendous piece of economically transformative innovation. That didn't make the steam coming out of it any more valuable than clouds.
If it's an asset, what is there about it that makes it valuable beyond expectations of its future price? A house I can live in. Pork bellies I can eat. What can I do with a Bitcoin?
Anybody thinking about buying into this nonsense should to my mind be forced to sit down with a copy of Kindleberger's Manias, Panics and Crashes, read chapter 2 in its entirety, then reflect on how perfectly Bitcoin and current economic conditions fit a pattern he traces back centuries.
However, the current phase of 'bitcoin mania' as represented in the popular press at present certainly does reflect Kindleberger's description.
It's difficult for us to escape our collective behaviour and, as I see it, the only way to do so is to change our individual behaviour.
I've been following btc since late 2011 so I'm neither a noob nor a zealot nor a sceptic - just interested. But it does seem that this community is high on fervour, low on rationality. So, wouldn't it be a good idea to actually engage with critics in a calmer manner and not dismiss potential issues, either practical or conceptual, technical or moral, without exploring the validity of our own position?