http://money.cnn.com/2013/12/10/technology/bitcoin-jpmorgan/The difference between digital banking accounts we have now and the digital currencies, is each citizen has to register for a wallet. One wallet for one citizen. Like your Social Security Number in the USA.
Your wallet can them be moved around to different banks.
Digital currencies is a code word for complete government tracking and total loss of bank privacy. Your bank will still hold your balance, but
every transaction gets cleared through government servers.
As Armstrong said, Ecuador is the trial run for what is coming to every country in the world [...]
Quite possibly. I don t think one has to invoke obscure conspiracies for that. Financial privacy is already so cumbersome and costly to achieve that most people will rather just give up on it. It is like trying to pay for rent and groceries with gold dust in order to avoid dealing with "evil fiat".
You obviously hope that Monero or some other cryptocoin will allow people to retain financial privacy without joining some savage tribe and subsisiting on berries and monkey meat. Good luck with that. Need I tell you that I am rather skeptical about the idea?