Quote from: stayeduptolate on October 27, 2018, 08:50:00 PM

Quote from: Ladysmith on October 19, 2018, 01:45:03 PM

There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.

I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.

In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.

Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.

It doesn't matter if governments or banks accept bitcoin or not as if you take the example of India where the national bank banned cryptocurrencies trading in general but people still do buying and selling through the means of p2p, so even if the governments and banks stop accepting bitcoin then also we can transact through p2p, and when the authorities see the need of bitcoin they will eventually make it legal and that would revolutionize our banking and other industries as they world be able to use blockchain technology through that.

You are right when we are talking about the possibility of making a transaction. Since now almost no country has officially legalized bitcoin. But some people are using it (mostly for earning money). But for reaching the main goal of bitcoin needs governments acceptance. The main goal is bitcoin is used in shops and buying things. I don't think that can be easily reached without permission of governments.