Consider the bitcoin currency, what are your thoughts?

If you’re not familiar yet, read: http://www.bitcoin.org/faq and http://en.wikipedia.org/wiki/Bitcoin for a quick reference. For more information read http://www.bitcoin.org/wiki/doku.php and finally you can also read the full paper: http://www.bitcoin.org/sites/default/files/bitcoin.pdf

It makes it really easy to carry microtransactions with no transfer fees. But it’s generation method is insane, to me at least. What are your thoughts?

Although this is an open discussion, please avoid one-liners. Looking forward to a good conversation.