Ya, and if bitcoin actually requires us to use TOR or a VPN, how would that benefit mass adoption? That would kill it entirely.
You do not need mass adoption. Sure, to see the $300k per BTC predicted by rptard you need mass adoption. But I personally don't need to see $300k per BTC.
I'm happy with a system that gives me and the ones like me monetary freedom. A decentralized, trust-free system which allows me to store and transfer value independently from financial institutions. A system that no Government can kill, where my funds cannot be seized.
Yes, it sounds like "paradise" for black market. The truth is that it is, and what Coinseeker does not seem to understand is how fucking big is black market's economy. But it's also a paradise for those who want an hedge on the current, rotten financial system - as telemaco just said.
If you are worried about not seeing mass adoption and thus "cheaper" coins, do not worry. As you can see with drugs, everything that is banned and difficult/dangerous to get comes with a premium. Yet, I do not think there will ever be 6 figures coins in a global ban scenario - but 4 figures coins? You can take it for GRANTED.
Gold was seized and reclaimed by the federal authorities for many many years (i think from the 29 crisis until the sixties) and his possession has been forbidden several times during the history.
Fiat is going to hell (euros, dollars).
So how long will it take you to pay for all of their overspending?
• To pay back one million dollars, at a rate of one dollar per second, would take you 11.5 days.
• To pay back one billion dollars, at a rate of one dollar per second, would take you 32 years.
• To pay back one trillion dollars, at a rate of one dollar per second, would take you 31,688 years.
The median American household income is about $50,000 per year. That translates to less than one tenth of one cent per second.
So, if your family earns $50,000 per year, and if you spend none of that on food, rent, transportation, income tax or even pursuing your own happiness, and if you take all of your family’s household income and use it — not to pay down the government’s current debt, but just to pay down the $1 trillion in new debt that the government overspends each year – it would take your family 32 million years to pay for it.
Now, multiply that by 16 – because the government is now $16 trillion in debt – to see how long it will take for you to pay it back.
That’s five hundred and twelve million years. Yes, 512,000,000 years.
Read more:
http://www.foxnews.com/opinion/2012/09/07/how-long-will-it-take-us-to-pay-back-16-trillion-in-debt/#ixzz2Uc41ZTQiChina is not looking good. Japan bonds look horrible. Europe is going really bad and USA aswell. We have global warming (or cooling) coming and several thousand million humans on the earth surface. Things are going to get ugly.
Where can one put his money? stamps? IMF sdr's (you need countries that go well together for that)?
Gold is really great as a store of value but bitcoin has something special: It is really great for international payments. Something that is the actual niche for the decaying fiat dollar. You cannot order (or well you can but it will be way harder and slower) 500 tons of grain from Argentina to China or whatever from country A to B with physical gold (yes you can i know but we are not in the medieval ages): Bitcoin is way better for that. It is also a good store of value.
It might depend how big is the crisis and the internet penetration. For urban areas, international or long distance payments or for countries with high usage of internet bitcoin will have its niche. If everything goes to hell (or things look really bad during some years) gold and silver will also be really good for local payments. People won't like to see fiat not even in a picture.