Could bitcoin be part of the private money, outside of govrnemnt control?
Bitcoin requires a good bit of enthusiasm and acceptance of risk. There are a fair number of people who think it’s simply something waiting to fall apart and you lose your value.
As government gets into bed with bankers to bilk citizens out of their money, currency will become unstable. People will only tolerate so much of this before they lose confidence in their currency. If it has no intrinsic worth, the currency fails and so does the government.
While currency failure is occurring bankers are sucking in real wealth; real estate, precious metals, etc., while people are desperately turning to barter and private currency. Bitcoin is an interesting electronic newcomer on the private currency scene.
By the way, the last gasp of currency failure is normally war. It is the “get out of jail free card” for the victor government(s) and bankers everywhere.
Our Founding Fathers knew this. That is why they placed high worth on maintaining stable currency vesting control of it in Congress. And the Progressives gave that control to the enemy, the bankers. We call it The Fed.