Quote:
Originally Posted by AdultKing
it won't reach mainstream adoption until it can easily interface with people's bank accounts and credit cards.
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In fact banks and credit cards do not want easy interfacing with cryptocurrencies to happen anytime! Since it would cannibalize the banks and credit cards profit on transfer fees.
Banks providing easy interface with bitcoin it is as unlikely to happen, as adult pay sites putting links to tubes and piracy forums in join page: dear user, choice if pay fees to us, or get the same for free.
While governments already shown how they dislike the whole bitcoin thing - even writing a cease and desist letter to just the bitcoin foundation which exchanged no dollars... the govt it may be unable to stop it all. I would not fear the govt, as there are also many govts, you may move to iceland, let's say. But the banks (and credit card or other financial institutions) can be (and been already) more strict than the govts, in all the world. Most exchangers lost their bank account just for banks policy or decisions, without any government order needed. Simply the bank X decides does not work with company BitSomething because of "whatever excuse. really, is bitcoins". You try to change bank and you learn that bank Y, Z also will not work with you. You learn some bank (silicon valley bank? The bank of small european country?) is very cool and work with bitcoin - until after some year, it will no more because the financial institutions will let the bank choice: lose capability of [process cards / connect to SWIFT / whatever] or drop bitcoin accounts.