I thought the above anonymous post on William Frederick's blog from which the OP is taken, pretty well spells out in clear and easy to understand terms why this Bitcoin system is irrelevant.
There are some instructional videos which explain the Bitcoin system here:
http://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-overview
The chap who is giving these training or learning videos uses a term which I will draw attention to. He says that in order to understand the Bitcoin system a person has to essentially suspend belief for a while. By which he means that a person has to suspend the ordinary ability to believe in something by simply following a rational known process. So that for example we know what "C" is because "A" leads to "B" which lead to "C". Clearly this process requires a prior understanding of the alphabet. In this ordinary way, to understand "C" we simply need to know what "A" and "B" is. In other words we need to know the alphabet.
Bitcoin is based on perverse logic and as such cannot be understood by a simple linear system of logic.
Apart from that fact there is a much more accessible reality which we can grasp from this system which is called Bitcoin.
The underlying idea behind this system of cryptographic electronic transactions derives its meaning from the open source community of code writers. The appeal of open source projects is that anyone can contribute. Apart from a core number of developers the overarching controlling mechanism is the code itself. From this repository of core code, in this case it is the Github repository, the technologies which run on the peer to peer network protocol form the security platform through which the Bitcoin system runs and functions. Its appeal is precisely that it is the peer members, of the physical network running the Bitcoin software or code itself, which collectively agree, process and therefore facilitate transactions. This means that there is no centralised banking system. There is no one peer (computer) which controls the whole process.
On the face of it this is its appeal for the author of the OP, who is generally in support of this system. In most conspiracy theories of the end time it is the banks who are the bad guys and therefore it is the banks who will effectively facilitate the mark of the beast. Or at least the centralised banks are presented as the backbone on which the mark of the beast derives its power. Clearly this power is the power to control buying and selling. What this system of Bitcoin, does is take away that centralised power. Therein lies its appeal.
I have to say that this is a deception because it relies on a fundamental acceptance that it is a system which will control people at the end of the age. The thing that will keep believers out of the means to buy and sell will not be computers or systems or anything else, it will be faith. It is belief in Christ which will keep believers out of the end time system (whatever it is) and not the system itself. No matter how sophisticated systems become they are all nevertheless vulnerable to abuse by code breakers. We always tend to view the mark of the beast in its negative connotation as a mechanism of control. And I agree this is the way Revelation presents it in obverse terms. However, just because there is a controlling mechanism, does not mean that those who do not participate in that mechanism are themselves controlled. We could simply look at things from a slight different angle and see our faith as an opportunity to live by faith instead of always focussing on and obsessing on the mark of the beast.
