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You did not remember to put it that the postal services suffered a great deal in the advent of electronic mail, so cryptocurrencies are expected to do same to banks. The banks already know this and that is why they want to do anything in collaboration with various governments to bring bitcoin down.
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Bitcoin to the moon! It has already taken off. Those who failed to invest when the price was $6500 will have themselves to blame. It is not too late though. Just imagine, bitcoin has recovered by over $2000 within a week. Very promising and interesting time ahead.
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I also wonder as much as you do why government is not supporting cryptocurrencies. I think it has to do with the decentralized nature of cryptocurrencies. By this, financial liberty has been returned to the people and has made them their own bank. Government now sees regulation as a way to come into cryptocurrencies.
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The exchange I use in my country only accept bitcoin deposit for conversion to fiat currency. Basically, what I do is to first convert my cryptocurrencies to Bitcoin and then transfer to the exchange and upon successful confirmation, the exchange will credit my bank account immediately.
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This can only surprise the people who have not followed the bitcoin price history over the years. Bitcoin has often surpassed the previous year closing price in the following year. Since the crash in January it has not being an easy ride to get here but once bitcoin recovers and finds it's footing again, there will be a lot more more to expect. It is even possible for bitcoin to surpass $50000 by the end of the year.
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To me, bitcoin mining seems like a venture that will not yield me money on time and the sophistication, cost and maintenance required can be an issue for me. I consider bounty as a way to make little income. The task may be huge but it will definitely be worthwhile at the end.
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