Who's government?
I sure hope it isn't Americans chasing this runaway kite.
What if it is?
It's their problem, not yours.
Or are you a concern-troll?
Watch “Banking on Bitcoin” currently playing on Netflix...saw it last night.
Distrust of the governments have to do with their central bank policies that impact the value of a nation’s currency. Ever hear of inflation, or HYPERINFLATION and what that does to the value a nation’s currency.
The idea of digital currency has been discussed since the 70’s, but Bitcoin launched in the aftermath of the government created financial meltdown in ‘08.
The main thing to think about Bitcoin is that it is a accounting system. I would like it to when you go to an arcade and you have to use tokens to play the arcade games. Well you first have to buy the tokens or bitcoins. Bitcoin participants are anonymous, their identities are encrypted. There is no central database where the transactions are cleared, as there are multiple centers located around the world. Transactions have to undergo a test for security purposes.
They say Bitcoin will max out at 21,000,000 Bitcoins. But there is nothing from stopping them from dividing a bitcoin up into tenths for example in order to increase the number of units in circulation.
The whole idea of Bitcoin is to evade the entanglements of currency exchange. However, Bitcoin will not achieve mass appeal unless it can be used to interact with normal everyday financial transactions like paying for gas, food, etc.
Because the US dollar is so sound?
How much are they going to increase the money supply this time around?
We have money backed by $20 trillion in debt. Tell me that is sound.