Bitcoin will not become the unit-of-account without the blessing of the government, because it has no distribution scale
I know this is hard for so many to understand because Gov itself is all most have ever known.
Bitcoin is the tech that allows a knew form of "government" in a decentralized way, an new kind of society and life. For most it will be better, for some, eg a large percentage of government "workers" they will be looking for new streams of income, as their host just found a way to be immune to much of their parasitic nature
It inverts that paradigm and the organization of capital.
The current form of government has no discretion in the issue.
It is not a question "will they allow" it is a question of if they wish to survive will they be able to adapt in time.
Already we are seeing the arbitrage of jurisdictions. Some make anti BTC laws some are pro BTC. The pro ones attract capital, talent energy.
Look at email, and what it has done to the postal service, indeed no gov could probably function without email now.
put simply the law of thermodynamics ensures that the fittest and most adaptable model wins. Any system including governments that are not the most efficient die and or are replaced. It not a choice or a decision anyone or thing has.
Its hardwired into the laws of physics of this universe at least in this local part of it at a macro scale.
Bitcoin, or bitcoin tech is over and order of magnitude more efficient than centralist banking/stateist model.
US, UK, EU, China they see this and are building a large stock of BTC just in-case, as well as every other nation that can. It cheap, on the table and why would you not do it?
Consider just one aspect. Banks themselves, their must be of the order of 1 million bank branches in the world. BTC tech replaces at least 10% of their reason for existence if not 50%. That 10% of the cost of running those branches, the IT costs, the staff the property cost, the ATMs, the maintenance. A branch would cost near $1 million a year to run.
That 10%~50% of 1T, a year in savings right their BTC tech arbitrages out. So at 10% circa 100B, a year in savings, thats per year. That there just by itself underwrites a market cap in the trillions.
And that is just one part of the whole picture that BTC tech is more efficient in.
People keep going on and on about intrinsic value, there it is, 1T plus market cap of intrinsic value.
The Byzantine generals problem that BTC solves is not just some small thing, it defied the collective ability of the human race until Pre-Satoshi. The applications and implications cannot be understated.
Another source of value is the un-seizable form of wealth. This is the first time in history you can store wealth against force
before this no matter what sort of wealth you had, it could be seized, by force, of, the state, through their "laws", eg tax, or whatever, by the invader, even by decay. Yes I know the lead pipe argument. But people would just send thier coins to a bitcoin eater if this happened to much makeing it an untenable model or thier would me some other n of m solution.
Now reason must be applied not force to make people part with their wealth. Full anonymity is coming. Bitcoin holds out the opportunity for the first time in human history to cross the threshold from brute force, blunt instruments of the blanket state laws, barbarism, to reason.
If I could encapsulate it in one phrase it is the "elision of sovereignty to the state/community to individual"
the only question remains is who or what will that individual be.
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