Freedom Ship, a "floating city"

http://en.wikipedia.org/wiki/Freedom_ship

http://science.howstuffworks.com/floating-city.htm

Interesting concept, a really large ship that will travel around the world, and will house many people and essentially have the functions of a town. There's also no tax (other than I think Federal tax, depending on where they lived prior to coming on the ship), and the ship is supposedly environmentally friendly as well.

However, I have to wonder if this would really work. First of all, it's only for the rich (cause the suites are ridiculously expensive, you could buy a home for those prices), secondly, what if the ship gets stranded or some other problem occurs that they didn't think of (*imagines Titanic again*), and thirdly, you can bet that there are going to be a lot of people who will want to hijack or rob this ship (pirates may make a large comeback, unless this ship has several escort ships solely to protect this ship).

So, do you think we'll be seeing floating cities anytime soon? Or do they still have a lot of kinks to work out before it's viable?

Jam it back in, in the dark.