It's illuminative that you didn't mention the trustlessness of blockchain. After all that was the original idea: Anybody can verify transactions without asking

It's illuminative that you didn't mention the trustlessness of blockchain. After all that was the original idea: Anybody can verify transactions without asking a central authority. But this is mostly not happening. Why? It's too difficult. To really trust blockchain on your own you have to understand game theory, cryptography and networks. You have to read source code and compile your clients yourself. Almost nobody does that. So what's the point? People are mostly in it for gambling or because they don't have a choice, for example illegal transactions. A honest answer whether they trust bitcoin would be a resounding no! And the banks? They see a way to reduce costs. Then the customers will trust the bank telling them to use it (or not). It's quite a perversion. I predict: Blockchain will succeed not because of its trustless nature but because it helps reducing transaction costs. Poor Satoshi Nakamoto would roll over in his grave (if he is dead).