Ok, I'm not going to debate what the powers that be may do or not do, but Visa is still worth something, yes?
If Bitcoin, in any form, effects the sort of large scale change on the financial system that it is capable of, even to the point of grabbing any substantial market share whatsoever from traditional payments people, Visa, PayPal et al, that is still going to be worth a good pile of cabbage.
I am not arguing that Bitcoin won't go up in price (although it is remotely possible it could be entirely defeated by an altcoin, the more likely future is Bitcoin prospers while an altcoin might also due to a bifurcation on the principle of strong anonymity).
I am arguing that we will lose our decentralized currency and anonymity.
Well I can't disagree. They have the tools, and they'll use them, no doubt.
And I agree it's utter bullshit, although I do not see anything whatsoever that can be done about it.
Not adhering to laws results in bitcoin going underground. If that happens, people may think it will still retain value/use, but I am not one of them. If it is not an accepted medium of exchange now it is no more likely to be so after some financial meltdown or Mad Max situation.
If bitcoin is not widely adopted, and the financial system melts down, it isn't worth anything. Then it's gold, silver, the normal things. Stuff. If it is widely adopted it may well be a great hedge against exactly that sort of thing; and on a financial level and with enough ease of access, that a lot of people could afford to squirrel away some amount, but only if they know it exists, know how to use it and have a realistic expectation that it will have value that will be portable and insulated from fiat meltdown.
Widespread adoption is basic to use in any future scenario, including a global meltdown, which I'm not going to argue isn't going to happen, as I'm as amazed as anyone with what I see going on in that department. To allow for adoption that you have to follow the law, even if it sucks because you know damn well half of it was written so governments can stick their noses in places it doesn't belong, behind the guise of the greater good, whatever the hell that means anyhow.
It's not a matter of not understanding anything, I don't think, it's a difference of opinion on what actually has the better chance at any sort of real success.