Re:Apple co-founder Steve Wozniak hopes Bitcoin will become ...
by lubos on Monday June 04, 2018 @05:15PM
(#17232526)
> governments are very scared of having a currency which they cannot control
And for a good reason. See: https://en.wikipedia.org/wiki/Great_Bullion_Famine as one of the examples.
Bitcoin becoming a global currency would set us about 500 years back when precious metals were the global currency.
"the lack of connection to something physical" - one can also argue about this. Money in your bank account is pretty much virtual too. If everybody right now wanted to withdraw their money from their bank account into physical money, we wouldn't be able to do that. There just aren't enough paper notes. Far from it in fact, it wouldn't even be remotely possible.
The biggest hinderance to bitcoin becoming a global currency in my opinion is the fact that governments are very scared of having a currency which they cannot control. Printing money is a wonderful thing to have for governments.