Until a government screws up, there really isn’t a lot of reason to pay with crypto.
Crypto is an insurance and speculation at best.
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Until a government screws up, there really isn’t a lot of reason to pay with crypto.
Crypto is an insurance and speculation at best.
To start, most governments arent in control of the currency, that falls to the banks so your conclusion starts with that flaw.
As for the other aspect, I would disagree. There are plenty of ways to start building a new financial system. Understanding the true way banking works shows how little is done within the system that people focus upon.
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Banks are licensed/chartered by the government, and deposit guaranteed by the government up to a limit for the “faith”.
Banks work very closely with the government.
Legal framework could make or break crypto initiatives. All the government needed to do is to forbid or even outlaw the bridge between crypto and mainstream financial system. Even easier to do so under the scheme of programmable digital currency and social credit system.
Decentralized crypto will not go away, but its prominence will be dependent on if the mainstream currency succeeds or fails, like an insurance policy.
Black market use case without critical mass and network effect only goes so far.