Peer to peer means that the middleman in todays traditional
transaction could disappear if cryptocurrencies revolutionize money.
Cryptocurrencies, in fact, represent a vote of no confidence in the policies
of central banks and government monopoly of money. These peers see central
banks as consistently devaluing money through currencies that arent backed by anything
but government promises.
But what if the money revolution succeeds?
As in any revolution, todays top dogs have the most to lose.
Cryptocurrencies will surely succeed simply because they are better but we need to be very careful, gold was the most dominant form of money for thousands of years and yet banks and governments found a way to convince people that it was better to use their useless pieces of paper and I have no doubts that they will try to do the same against cryptocurrencies and if the past repeats itself then we may see fiat cryptocurrencies in the future.