I actually agree with you about all of this. And I think that we'll see the blockchain get incorporated into the mainstream banking system eventually because it

I actually agree with you about all of this. And I think that we'll see the blockchain get incorporated into the mainstream banking system eventually because it's got some big audibility benefits that both the banks and the fed would be interested in. But anonymity is not one of those; in fact the blockchain makes the money supply much more traceable. But the existence of corrupt bankers or government officials doesn't mean that the system doesn't work. It does work for the vast majority of people who are able to deposit money and withdraw it later. Sure, it's broken in ways that allow a select few to ignore the laws and gain an unfair advantage, but that has always been the case with any system of wealth distribution and it's certainly better than it has been in the past. The idea that there can be a single algorithm that controls a large part of our financial system is a dangerous one. One, it presupposes that the people who built said algorithm have no ulterior motives. Two, it (like any other economic model) assumes that markets are rational. Markets are rational most of the time and then irrational for brief periods of instability -- which is when you need human judgement to identify the cause of irrationality and address it. Third, an algorithm like Bitcoin is unable to adapt to the geopolitics around money supply -- the way that the Yuan and the Dollar are connected can't be described by pure math; and any solution to problems between the two economies are likely to be political or military in nature. Is the Fed perfect? No; it's not by any means. But judging by our track record against other economies, I would say the Fed is doing something right. It's our Congress that fucks it all up.