Crypto has 4 problems to overcome in order to "defeat the feds"

1 - It has to become so user friendly that everyone can (and will) adopt it
2 - It has to become actually largely usable outside the grasp of any ISP
3 - It has to be able to outlive the test of time of evolutionary technology
4 - It has to be recognised as a legal currency in its own right for it to fully disconnect from the value of real world currency

that last one is a doozy too

good luck getting them to recognize the thing that will cause their downfall lol

It won't, they'll just bring out their own currency 😉 like Venezuela

How can any one currency be disconnected from a 'real world' one?

by making it a real world one on its own

BTC is still valued in USD

So is the pound if I want it to be.

as in, have something like BTC be tradable in banks/federal transactions

yes but the pound has its own inherent value that can be used like Wol said

right now you would have to exchange BTC for legal tender in order to do that

say the dollar explodes in inflation, and it finally hits that magical "100%" crypto-yuppies talk about

and the dollar effectively becomes useless

everyone can hop over

but if the state rejects crypto currency

and say you go to the bank and they tell you "okay you're 1 billion in debt"

and you hand them a flash drive with your bitcoins

you think they'll go "oh cool, you're all settled"

or does the state say "dafuq am i supposed to do with this?"

lol

😛

OK

I feel like if inflation did hit 100%, we would have a lot more to worry about than our outstanding debt

like going to a store in venezeula and paying with Russian Rubles

or going into an american store and pay with Zimbabwe money

they're just gonna say "lol, no"

That already exists @Dr.Wol

Coinbase is fdic btc

The banks are already stacking btc

Morgan Stanley.. other.. fidelity.

Large firm JP Morgan bought an exchange for some billions

U may have heard of them. IDK..

I heard the fdic also said they wanted to regulate it

Funny tho cuz they bought at the peak of the market lol

Let's see it @Dr.Wol

for a quick google search:

https://www.cnbc.com/2018/01/18/regulate-bitcoin-but-dont-ban-says-former-fdic-chair.html

And lets be honest,

If they can't regulate it (which i doubt they can)

Do you expect them to go "Oh well, lets just let it loose"?

Or that they'd go "we can't control it, so lets just get rid of it"

its government we're talking about, you ever heard of a government just going "yolo" over something it can't control?

Look, i'm willing to admit Crypto is looking pretty sweet,

But people talk about it like its more divine than Jesus to devout Christians,

But remember, people said the same about the Ipod

And every person I've ran into that advocates it like its the messiah itself,

Also ended up wanting to sell me bridges

Legacy Govt can be replaced with this technology

Just my opinion.