You make some excellent points Darin, yet without a contrast to the huge environmental and social costs of debt based fiat and non fiat systems (such as gold and silver) or an examination of systems such as http://iota.com, which have already evolved well past the ‘useless work’ paradigm, the analysis is lopsided and incomplete.
The value of decentralised technologies are somewhat captured here: http://bit.ly/2r8v9To and here: http://bit.ly/2r8vEwK. A balanced article needs to consider them seriously or it will be ignored by people who would otherwise be sympathetic to your central points.
Also to use the word ‘r###’ is inconsiderate and an inappropriate analogy. If the article were shorter, more balanced and less vitriolic, it could be very persuasive to bitcoin/blockchain advocates to help them realise the importance of adopting a vastly more efficient system. Bitcoin will adopt advances over time or be replaced.
There will be many more steps in cryptocurrency in coming years that will address the issues of inequity, efficiency and volatility – including the mechanisms you briefly mention. V2 article perhaps?
P.S. You may wish to also contrast with this thinking on the advantages of a global currency;