Originally Posted by ilnjscb

Digital currencies will eventually work, but they need to eliminate the loophole that allows "exchanges" to steal. No normal person can resist the lure of 100m. At the same time, transparency or centralization means govt control in 5 minutes.

What has to happen, and this isn't easy, is a peer to peer validation and total database tracking where other validators are anonymous to each other. Each trusted user would have to store more than his own holdings, with warnings going to the entire trusted community. Also, it would help if the sole purpose of the currency weren't evading the law, which guarantees failure. The age of outsmarting the govs is over. Now is the time of "they let us exist because we don't cause too much trouble" and it will stay that way until someone invents a working space ship.