I don’t want to spoil the party, but I’m baffled how serious, educated people have no idea about how the money system works. Bitcoin is like Marxism: looks promising and logical. Can even work in small dedicated groups (see kibbutz). But applied at a large scale will turn in the worst imaginable dictatorship (see USSR). A large-scale crypto coin system will include full traceability (smart contracts are impossible without traceability). If not, the anonymity (and so crime, laundering) is 100%. Digital = total crime/anarchy or total control. No middle-way; no gray zones — only 0 and 1. Of course, the STATE will choose total control! Besides, money is not an exchange-medium. MONEY IS DEBT. As soon the smart contracts introduce the CREDIT (compound interest) in the crypto-coins game, the banks will have -in about 14 years- the MONOPOLY on crypto-coins + full traceability (like for slaves). The compound interest ensures CENTRALISATION (miners don't count, just as the silver-miners earlier) Do the math of compound interest> 14-to-28 years for global capital centralization. And only banks have a MONOPOLY on usury !!!!!!!
That's the naked truth. Conclusion: the (illegal) minting of crypto coins worldwide is “tolerated” by banks as “experiment”, because as soon the system generalises, they can CAPITALISE the whole stuff and have a GLOBAL TOTAL CONTROL In maximum 28 years, via COMPOUND INTEREST. Remember that. Do the math!