No country will give up its absolute power over the issuance of money. That would mean politicians, banksters, and taipans would have to give up their power.
Never will be,
not unless we decapitate them with technology. And Bitcoin can't be it, it doesn't have anonymity.Bitcoin cant become currency for your stated reason. The majority of bitcoiners believe it will.
I agree with the bolded statement (in part). However no cryptocurrency will ever be anonymous and thus become currency. If somebody has a hugely successful business and no transactions are shown in yuan (at his local bank account) (or any other government currency) it will be obvious that he is using cryptocurrencies instead of yuan.
EDIT: I believe bitcoins price will collapse as I dont see Bitcoin being used as a store of value (or as a currency as explained above).
Creating and selling digital works, such as computer code or object designs downloaded and output on a 3D printer, could in theory be entirely anonymous.
It looks like the future is heading that direction. A recent Oxford study predicts 45% of all existing jobs will be replaced by automation by 2033.
Never before has the socialism had the technology to track everything 24 x 7. The killing fields of socialism are only limited (thoughout history) by the technology it has to kill with. At least when Rome fell from 1.3 million to 30,000 population, it was because people could escape the hell and be outside the capability of the state to track them down.
Without anonymity, humanity will descend into a global currency collectivist hell.
Now for transfers it is not cheap if you take into account the spread! So where exactly is the value??? I dont see it.
That is Gonzalo Lira's point, that
without anonymity, it has no instrinsic value.