Question: How many idiots does it take to make a cryptocurrency succeed?
The Answer - - - 42 - - -that's the answer to everything.
There is really only one problem with crypto, and one that will make it difficult to be accepted by some, and that is in order to use it as a currency, you need a card, and a card needs an ID, and thus you lose that invisible metric of it being anonymous. Once people give up on the anonymous part it will likely be more acceptable.
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Absolutely. 42 is the best!
I'm not even sure about the anonymous part. Why do you need a card to use a currency?
Have you ever tried to get a bank account with out an ID? How do you get your money out of a computer and into a fiat computer? Even if you just left it on the computer, how many places can you spend that money online? Where/how are you going to have your purchases shipped to you? UPS/FedeX need a physical address to ship to. Most liquor stores want an ID to buy anything, you can't buy a car without a drivers license, I know a lot of people keep saying "papers we don't need no stinkin papers"..facts of life if you want anything other than the extreme bare needs for survival, you need a card (ID).
Well my comparison is just that cash doesn't need it. The promise is that you will eventually be able to use it in more places. ID laws are a parallel issue IMO. Sure, some things you won't be able to buy without an ID. But plenty of places just take cash, and that could as well be crypto.
One example or two-to buy a beer even if you use cash you need an ID. To receive any medical treatment you need an ID, even if you pay in advance with cash.
With the improving speed of transactions crypto should be easy to use, but there is no current price stability, so it is still going to be a fiat based transaction. Yes you can use your phone to pay for a lot of things in various stores, but the prices are all based in fiat. Right now to much volatility in crypto to be a useful everyday currency. How long ago was it that bitcoin or what ever was almost $20-,000 what is it now $6,000?
Oh sure, but now you are talking about a separate point, which I agree with.
I'm merely saying that the ID bit isn't strictly necessary to function as a currency. They can still check your ID and then request payment in crypto in your examples.
That's true.