People claim that bitcoin will really start playing a role in the next economic crackdown. EG: when debt is too high, people will defect into bitcoin and leave the current broken economic system behind, promoting the biggest wealth redistribution in history(something like what happened with the tally system back in england). Will the system allow for this? They would lose all control. I know this has been discussed in a higher level before, but lets put ourselves in that situation how would it unfold. I know some may argue that it wont be a quick process but rather adoption over time. However even if that's the case there has to be a tipping point. That is the process I want to understand.
No, absolutely not. The system doesn't want to give the public the freedom they deserve to do whatever they want with their money (thanks to the bank's bullcrap bureaucracy and whatnot). Centrals Banks and big financial companies around the world along side the govt will start putting into effect taxes, bannings, etc, if they see Bitcoin as a threat to their bussiness (their ponzi fiat 'bussiness'). Also, governments will not waste any time and they will try to profit from cryptocurrencies by putting regulations and whatnot, so that it doesn't 'get out of control', and they can keep having absolute control over its citizens. Up to one point, regulations might help increase the possibility for a major Bitcoin adoption nationwide (or worldwide), but at what cost? by filling the pockets of the rich and corrupt within the already crooked system?
About visa and mastercard, I wouldn't be surprised if they're already in the process of creating their own cryptocurrency. So ,yes, I believe the blockchain technology has paved the way for those two multinational corporations to begin talks about the possibility of e-money. But the question is: who wants a centralized cryptocurrency with zero anonymity?