People have different needs for privacy. For example, you don't want your colleagues learning how much you earn, nor does your employer. In a centralized banki

People have different needs for privacy. For example, you don't want your colleagues learning how much you earn, nor does your employer. In a centralized banking system there is a level of privacy because the employer trusts the bank won't divulge the information because they have legal requirements and a reputation. When you take away the central party, now everyone can learn what everyone else gets paid. Without an equivalent level of privacy, very few people will ever consider using Bitcoin for payroll. People also do not want their lives monitored so they can be sold advertisements or be forced to behave in certain ways by their peers. It's none of an employer's business what their employees spend their money on after they have been paid for work. Increasingly, we are seeing some employers make judgements about the people they pay because they do not share the "correct" political thinking of the employer. The whole thing is becoming absurd. Transparency of the ledger is what is important. You need to know that somebody didn't make money out of thin air, or double-spend. If you can do this while keeping the actual transaction data private, most people would rather have private transactions if given the choice. Fiat doesn't have a great deal of anonymity from law enforcement. For most people, nearly everything but small transactions can be known. Even cash can be traced from ATM->Person->Shop->Bank. The notes have unique ID codes, and the biggest denomination of note (say, a $100 bill) usually goes straight from bank to bank with only the 2 people between the transaction, because these are not issued directly as change. You can be sure the bank makes a record of every note and who withdrew/deposited it. Moving large amounts of money through the fiat system is extremely difficult, unless you're a bank. The banks have a monopoly on the ability to launder large amounts of money, and they certainly make use of it!