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Old 12-09-2013, 06:15 PM  
kane
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Join Date: Aug 2001
Location: portland, OR
Posts: 20,684
Quote:
Originally Posted by TheSquealer View Post
This is what children don't understand about monetary systems and our banking system. At best, bitcoins and crypto-currencies have a future in their own ecosystem and bitcoin to bitcoin transactions... it has no future at all within the actual banking system. Any transaction in any real currency is regulated and can be restricted or further regulated. Regulation of financial transactions is a necessity for everyone's benefit. Hating governments doesn't make that fact untrue.

The height of stupidity is believing that an anonymous currency (which can never be allowed to exist on any real level) and one that is used to buy illegal drugs, guns, contract murders etc etc etc etc is somehow not going to get crushed for what should be the most obvious of reasons.
That has always been my worry/skepticism about bitcoins and others like it. Sure, it is gaining in popularity and could carve out a decent niche for itself, but at some point it is still reliant on the regular banking world either from people wanting to use their cash to buy bitcoins or wanting to sell them for cash and if governments decide to block those transactions it could be very bad for that currency.
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