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Information and communication technology lowers crime. We've barely begun to see the crime lowering power of the computer age. It will drop substantially over the next 20 years if we stay on the current trajectory of advancement.
The attack on Bitcoin is just the usual government attack on freedom, sense the entire Bitcoin economy is a mire fraction of the dollar illicit crime. Just online dollar crime is way more than the entire Bitcoin, and altcoin net worth. Bitcoin is obviously a huge threat to government control and central banking. Nonetheless it's clear Ripple XRP is playing well with the establishment, and will be worth one dollar in no time. It's one hell of a buy right now. Syscoin is another legit coin that has best of both worlds in many ways. Syscoin is decentralized but has the openness of a ripple in the sense that it is a utility of business operations, and banking. If you invested 20 bucks in Bitcoin when it was the price of Syscoin it would be 16 million dollars today. Ripple XRP is about 2 pennies and Syscoin is 4 ten thousand's of a Penney, its in very early stages. Syscoin is more like a utility in the digital money space. Its the new copper.
Karen is right to compare Ripple (read: FedCoin] to the dollar, but not for the reasons stated
"[Bitcoin] is a little clunky to transact with…" says the lady from the Fed
Decentralized/peer-to-peer/worldwide distributed open source systems are the way to empower the people and bypass banks all centralized financial institutions, the path to reset the control from the few to the many, are the future for everything. The potential implications of the development of distributed consensus technologies is revolutionary. Bitcoin is backed by mathematics, open source code, cryptography and the most powerful and secure decentralized distributed computational network on the planet, orders of magnitude more powerful than google and government combined. There is a limit of 21 million bitcoins (divisible in smaller units). Dollars are not backed by gold anymore since long time ago, they are printed by the trillions out of nothing by the private institution called "Federal" Reserve.
Receive and transfer money, from cents (micropayments) to thousands:Almost for free (a few cents fee).Privacy (no need to expose personal information)Securely (encrypted cryptographically)Instantly (from seconds to a few minutes)Open source (auditable by anybody)Worldwide (from anywhere to anywhere on the planet).Peer-to-peer (no intermediaries with a cut)Public ledger (transparent, seen by everybody)Decentralized (distributed with no single point of failure)No chargebacks-No fraud ('push' vs' 'pull' transactions).
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