We read a lot about Bitcoin, that it’s based on speculation and has no ‘real’ value. Yes, Bitcoin is hyped and could be overpriced, but this doesn’t mean it’s useless.
I think Bitcoin, or/and other crypto currencies will be successful just because we need something to transfer value that is out of control of governments and companies.
We need to respect laws and pay taxes. Most of us have always been doing this even when we didn’t have bank accounts. Being afraid for illegal transactions doesn’t mean we need gatekeepers on the only thing that easily transfers value from one person to the other, some form of money.
Seperation of powers
Remember PayPal, Visa and Mastercard holding back payments to wikileaks.
This event made clear that at this moment creditcard companies are the online gatekeepers in deciding who can pay who in the digital era. There is no separation of powers.
This is not a sustainable model. I believe this is why the web will embrace crypto currencies.