Quote Posted by Flash (here)
This is funny, we have been told that there would be an international unique currency, done by PTB, that our money would be entirely electronic and controllable by PTB, and here we are with bitcoins.

Although actually they are more managed by mafias of all kinds and have been stolen in mass last week, they are at least not controlled by a central government. I am not sure of that at all.
There isn't any problem with electronic money "per-se".

The reason people associate electronic money with TPTB attempts to centralise everything is because at the moment, most of the so called "M3" layer in the money supply (that's the 'levered' part that's subject to fractional reserve lending) is electronic. But it's not the fact that it's electronic that makes us vulnerable, it's the fact that it's centralised first and levered second. That allows us to buy into a scam which can then be crashed on us all at any moment and have everyone turned into debt slaves.

Cryptocurrencies, on the other hand, are unlevered - if you as a holder have direct access to the so called "blockchain". The huge difference that cryptocurrencies have is that a massive authority like the Federal reserve has just the same access as a public joe. So it's a huge leveller.

Maybe you need to try it out and see how it works before drawing your conclusions, but there are also precedents to look at. TPTB weren't able to shutdown music and file sharing when they closed down Napster. Similarly they will not be able to shutdown a cryptocurrency - even if they regulate the exchanges. Cryptocurrency servers are like a virus - you shutdown a thousand of them, another thousand pop up somewhere else. Even is TPTB bought up all the Bitcoins in existence, they would just become worthless and another cryptocurrency would appear (there are already over 50 of them).