What about the coins being backed by bitcoin? We have already seen bitcoin be hoarded digitally like gold has been through out history.

Also I wanted to ask what your thoughts on Leemon Baird wanting to make a free internet with free outlets for people to make transactions share ideas etc. but instead of making this software open source, he has patented it.

Others claim that this is a centralized idea. Corporations will be in control as they are the controlling members on the board. This idea seems to solve some of bitcoins flaws like energy consumption and transaction speed, but absence of third party involvement and central idea makers is a let down.