Good, short take on bitcoin. However, he was wrong on the value of bitcoin two years ago...which hit around $2.22. Hasn't been under a buck for a long time now. The only control an agency could exert over bitcoin is possibly infiltration of some core developers (unlikely--and in the event that happened, it would probably be found out rather quickly), control of most of the mining network (also unlikely, I think the network is at 4 peta hashes now...and yes..that is a lot in case anybody is wondering), or maybe...time machines (thats for all you guys living in Rio Linda), lol. :s9:
All in all, the "no central control" aspect of bitcoin still seems to hold true after a good four hard years out in the financial wild west.
There are already many bitcoin II's and III's etc. They are called alt coins. None have really caught on in the way bitcoin has. Their market cap is super tiny compared to bitcoin's market cap. The one that has probably caught on the most is Litecoin, but again, market cap very small. Most of these alt coins are modeled directly from bitcoin, so in my view, they don't have much use except to explore new ideas about cryptocurrencies (which, by the way, are here to stay long term).
However, this (new crypto-coins) is the beauty of an open cryptocurrency market. Anybody is allowed to participate with new ideas, programming, etc.
There are already dozens of alt-coins that have been started but none have gone much of anywhere... bitcoin already has the action. It's like trying to get silver or platinum or some other metal to replace gold... yeah in theory if everyone switched it could happen but in practice people don't switch. People are already invested in the leader and the incentives rest with supporting the market choice not moving to an alternative copycat where nobody is.
Bitcoin is much more than a digital currency. It's also a self regulated, peer-to-peer, deflationary, global transaction system. The algorithm tightly controls distribution of the currency over time and polices itself to ensure against double spend attacks. Bitcoin has the potential to eliminate the need for banks entirely.