My thinking is that bitcoin/cryptocurrencies dont have to be 'fully' embraced by govt, it just needs to be recognized as a valid asset class and the markets wil

My thinking is that bitcoin/cryptocurrencies dont have to be 'fully' embraced by govt, it just needs to be recognized as a valid asset class and the markets will do the rest. so long as its not too much of a pain to use/keep it will do just fine. what people dont grasp is that the reason govt or central banks dont like any other fiat is that it takes power to inflate away from them. so long as we have fixed references in form of btc/etc markets will ensure they work as inflation hedge (after an unspecified initial period of price discovery ;). In fact I do foresee BTC becoming a legit currency after few unstable currencies fail. You could argue this was essentially the role of gold but the main problem with gold is that its the central banks that started with biggest ownership of gold so its very susceptible to price manipulation and really un-auditable without some form of trust setup. both of those are not as much of concern with cryptocurrencies. TLDR: it will be an asset until it becomes a global currency.