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This article, and the concept of Liberty Dollar are interesting to compare with BitCoin.

Whereas the head of the created currency is looking at hard prison time (20 yrs), there is no real one entity involved in BTC.

My next question: will BTC be popular or threatening enough that the US treasury take hold and launch lawsuits on counterfeiting as they did in the Liberty Dollar case? And if so, how might they go about it?

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Bitcoin is clearly not a counterfit. It is not at all similar to us currency. I doubt any us attorney will even launch a suit against bitcoin. They only file suits they are pretty sure they can win. So bitcoin is very different than the liberty dollar in this respect.

No, they'll go after the exchanges and, failing that, users of the currency.

I think any assault on Bitcoin would have a lot more in common with the tactics of the copyright cartels, than this. The decentralized nature of peer-to-peer sharing and Bitcoin is more relevant than the fact that the Liberty Dollar and Bitcoin are both 'currencies' depending on who you talk to. Numerous lawsuits, harsh penalties bordering on unconstitutional (not that it really matters), and selective media exposure of same.

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