ErebusBat



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I am the one who knocks







Hero MemberActivity: 560Merit: 500I am the one who knocks

Re: USD 2.0 - The Government's Bitcoin? April 11, 2013, 10:48:08 PM #7 I don't see Bitcoin (or its forks) being backed by any major government as a currency replacement, and here is why:



- Governments like traceability... they want to know who is buying stuff to make bombs, or who isn't paying taxes.

- People (at large) don't like the finality of bitcoin: (You forgot your password? You got hacked? Your 15yo son just downloaded a virus and after you took your computer to best buy) Nope you can't get your coins back, no matter what... they are gone sorry... I don't care if you have proof they are gone.

- You would need enough to replace the current USD. When they started printing fiat is as good as gold, a gold certificate. You would need something like that in the transitionary process.

- People (at large) are not smart enough to secure or use bitcoin

- People don't want their gardener seeing what porn sites they goto (see above, people will mess up coin control, tainting themselves)

- People are 'hollywoodized' and think that if it is on a computer than some 17yo kid SOMEWHERE can hack into it in seconds. Combined with people losing control of their keys this just reenforces the thought. In short people actually believe that banks ledgers are more fool-proof and trustworthy than a decentralized p2p currency.



My head hurts... but there are some reasons for you.