> The proles don't need to know, in fact few people need to know Don't underestimate people > Some people think BTC would work for developing nations i.e. the

> The proles don't need to know, in fact few people need to know Don't underestimate people > Some people think BTC would work for developing nations i.e. the 'unbanked' masses, in areas with bad banks or shady central banks. I suggest that BTC would be bad in almost every way: it's impossible for people to use directly There is no technical impossibility. It's just rarely done, but there are more and more places pricing in crypto. Eventually, the extra degree of indirection that is caused by fiat will become an inconvenience. > they would need some kind of 'exchange' at minimum, which would have to be regulated, at which point -> just have a bank account (!) denominated in some respectable currency Or altenatively, they can decide to skip the middleman: if the workers store their value in currency A, it becomes more interesting for them to buy goods denominated in the same currency A than to bother exchanging for some local stuff B of unknown (and probably rapidly falling) value. This process where a store of value becomes a unit of exchange is called dollarization, and is well studied. See also the use of cigarettes in prison. Goverments don't like that - just because their interests are not aligned with their citizens.