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 is actually a very good point/topic that I have thought about extensively. Being a financial advisor by trade, I'm deeply submerged in the banking system/federal reserve/treasury etc. First off I can never see the US gov giving up control like that. One point Andreas Antonoplous has brought up is that he doesn't necessarily see the dollar ever going away, he just in fact sees bitcoin ( or some other cryptocurrency ) working in conjunction with it. How? That is what I can't figure out myself at the moment.
I think things will play out a lot like how the internet did in the early days. New tech, new websites, new apps will change the game and make this doable. Andreas has also preached a lot about the "killer app" that will change everything. We've yet to see that app..but it might not be far away.