Quote Originally Posted by littleroundman View Post
That's no where near the "only problem" facing Bitcoin, or cryptocurrency, for that matter.
Maybe I should have said "my problem with Bitcoin." I could care less whether it ever becomes widely accepted and a viable alternative to fiat money.
Same with any cryptocurrency. It's like any other investment to me, not some revolution in the world of finance.
Putting aside any advantages cryptocurrency may have, Bitcoin is right in the middle of a speculative "bubble" at the minute.

All it will take is one example of a terrorist organization using Bitcoin to fund or finance its' operations and government will move in, quicker than you can say "but cryptocurrency has many advantages"

Some crypto has advantages, but 99% of them will never be adopted as anything other than on the fringe. All the gazillion ICO's right now are pure ponzi. You'll have Bitcoin, Ether,Litecoin and a few others left standing, along with Monero since it has the most anonymity of any crypto out there, maybe a handful of others like Dash and Zcash. Crypto not using the blockchain,

As far as governments sweeping-in, the decentralized nature makes it a little more difficult than stopping old fashioned money laundering with fiat currency, and why would terrorists use crypto to launder big money when it's exceedingly difficult to do and regular fiat is much easier? small-time laundering that still has an exit point right back into the banking system. The close-to-anonymity of Bitcoin is heavily out-weighed by the logistical and technical headaches of trying to convert large amounts of it into something usable. It can only be done if you have mainstream banks helping you launder. Liberty Reserve showed what happens when you try to create a financial enterprise based around money laundering, you eventually end up getting completely cut-off to the global banking system, killing the money laundering aspect, as well as busted. LR had its own ecurrency but by far the vast amounts being laundered were good 'ol mainstream fiat sources.
There are currently over a thousand "cryptocurrencies" listed on exchanges. How many of them are legitimate enough and will last long enough that Joe and Joanne Citizen will use, and more importantly, trust cryptocurrency ???
Hardly any and most will disappear.
IM(very)HO, cryptocurrency is an excellent concept.

Execution in the real world is a totally different thing, ESPECIALLY when the criminal classes recognized its' potential before the man in the street.
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Crypto has it's pro's, but the biggest of not being controlled by governments, financial juggernauts, and monetary policy or regulations is a major con for wide acceptance because those same institutions don't like competition at all. For folks wanting to buy some drugs, very useful. For those wanting to buy a house? Yeah, good luck with that.Launder a lot of dirty money without using the existing, regulated financial systems? Yeah, good luck with that too.

NUK