If we were to go to a 100% bitcoin currency system. The banks and governments would loose control of whole financial system. The present governments would loose control.
Therefore a new system would be needed to run each country. What do you think would be the new body of control?
How could this work?
What type of system would be put in place on this.?
I don't think the people can control themselves as too many minds and ideas of where things can go in a direction. Therefore you still need a council or kingdom of control.
your thoughts.
This won't happen in the real world,but if we think about such hypothetical scenario,the governments can still control bitcoin,if they start buying and holding large amounts of BTC and if they start mining BTC.
Acting as a crypto whale and a BTC miner at the same time will be the ultimate form of government control.
The downside of this is that governments will create more bureaucracy and corruption,by taking power and resources from the people and governing them for the "benefit of the public".