/biz/ - Business & Finance

>>52374623
I like this line of thinking, but I propose some alternative schizo thoughts.
I think bitcoin will most likely serve a purpose that you might be not appreciating. There's a good amount of bitcoin that is not associated with an identity. From people trading over Tor to OTC intermediaries dealing directly with private individuals, you still have some very hard to trace bitcoin going around. It doesn't work very well as a currency but it does a decent job of being an alternative money that is not subject to any old era regulation, law, ban, sanction, etc. Very rich people and institutions will certainly keep using intermediaries to make big overseas transactions operating "legally" under some shell corporation while executing immense transfers of money, with the caveat that individuals can also hold it sovereignty, like gold.
You'd be correct to point out that monero works like bitcoin but doing everything better, in a way that you can eliminate the intermediary. The point is that many of these very rich people would still use intermediaries because they can't bother.
And in the old structure (think Swiss banks and other fiscal paradises before the internet era) with all these intermediaries, maybe transparency could be even desirable. I imagine these places would also offer the service of exchanging bitcoin for monero for those seeking private personal storage and usage.
Anyway, even if I understand where you're coming from, reality is that bitcoin will probably have its place and I think it's going to be a big one. Just check central banks on their gold buying spree. Fiat currencies are worthless, but gold and silver are too cumbersome for international trade and any 'digital' version of it would be operated by a centralized institution which is an instant show stopper. Except due to an actual apocalypse, the internet is not going anywhere and international trade will keep going. If the dollar crashes people will use alternatives.