What I predict will eventually happen is we will see a separation into two financial instruments - 'coins' that are primarily a store of value (displacing gold); and coins that are primarily a medium of exchange (displacing the $).
This would only make sense (happen) if the medium of exchange coins somehow had less transaction friction than the store of value coins. That would mean the medium of exchange coin having more apps, hardware wallets, exchanges/liquidity, and merchants. If a store of value coin happens to have more of those, it will simply be easier to use it instead of the medium of exchange, regardless of what the coin's intentions were.
Not if buying the Bitcoin requires impoverishing oneself and society into hyperinflation.
You can't have this type of radical transfer of wealth to speculators. Society will never allow it.
[snip]
How do you supposee that society will not allow that?
Wow you really doubt the power of the government. I guess you forget who has the bigger guns.
You are not anonymous in Bitcoin. They can attack with the tax agencies without bringing out the big guns. The big guns are the last resort. As the final resort, nuclear winter and the underground shelters the elite have built.
Absolutely no way the elite will hand over the power over the creation of money. They will co-opt it peacefully or by as much violence as it requires.
http://en.wikipedia.org/wiki/James_Warburg
Quote
Warburg was a member of the Council on Foreign Relations. He gained some notice in a February 17, 1950, appearance before the U.S. Senate Committee on Foreign Relations in which he said, "We shall have world government, whether or not we like it. The question is only whether world government will be achieved by consent or by conquest."
