What I meant was...do not have faith in Bitcoin, have faith in the US Cent and Dollar
I agree and disagree.
I'm old enough to have lived through all sots of investment schemes and until Bitcoin has a decade or two under its belt I won't trust it either. Sure I understand the theory, the idea of mining, the whole concept of a stateless currency and I just don't trust it. The collapse of MtGox this week is only a symptom of a structural weakness in the idea. My money goes into things that are insured by FDIC, CIDC, etc. As I said give it 20-30 years and we'll see. I would be plesently surprised if it's still going strong. I won't be surprised at all if the bubble pops and Bitcoins aren't worth anything in two years.
OTOH I also don't have long term faith in the US dollar either. As others pointed out, the debt has hollowed it out and it's only a matter of time before the world transitions over to the Euro, the Renminbi, or a basket of currencies to reduce risk. When that happens the dollar, which is propped up by being the default currency for oil and other commodities, will drop and drop fast.