The bottom line is really that you can't have a non-centralized, privatized, currency.

You need government endorsement & a controlled centralized banking authority that monitors interest rates, printing of new currency, recycling/destroying old currency, and so on....

Cryptocurrency originally came about as a way for people to anonymously & untraceablely purchase things online (so long as you also acquired it anonymously).

The idea of crypto currency as a replacement for global currencies (i.e. money) is pretty out there and utterly insane in its current incarnation(s).
--How is it going to work without a central bank controlled by an authority?
--How will you control inflation or hyperinflation events?
--How can a government currency be privately owned?
--Furthemore, how do you manage these private currencies across different companies and technology platforms?


My biggest fear with cryptocurrency is that it's fairly easy to see how we could cause a similar "pre-2k dot-com bubble bursting" when everyone and their mother wanted to invest money in *anything* that was an "online business"; but most of it was smoke & mirrors & most of those companies didn't have backbones. We know what happened right? We had the recession years, 1999--2002+, as the dot-com bottom fell out and millions lost money investing in these startups.