My Views:
1. What is the balanced way to exit the current system? Timing ? How much ?
There cannot be a balance with this exit. The system has to report in to Bitcoin/ Cryptos or fall. Could be 3-4 years maximum for an effected change. Late adopters will have to pay a price - Some may face up to 80%+ devaluation of current wealth.
2. What is the impact analysis ? (law / regulatory reporting).
None. Bitcoin's distributed nature allows for drop down reporting, but does not allow for regulation unless based out of a Trusted service provider.
The whole idea of Bitcoin is to avoid the bounds of tradition law and regulatory system, as soon as there is someone regulating this - no matter how trusted - the whole freedom aspect of bitcoin will be affected -- To many BTC users the freedom they get with this currency is what attracts them here.
3. Eco System acceptance ?
That is inevitable. Banks have screwed themselves through inflation. If the media bangs in Bitcoin for the next year, it is enough for a healthy economy to fall into place.
The media has already blown the whistle. I think we need a celebrity supporter/user a, 'FACE' to the bitcoin world, someone who'll blow the Trumpets !
4. What should be the pace ? How long ?
Pace is determined by the amount of noise that can be created. 1yr - 3 yrs.
Anything that rises too fast also falls too fast, I m not an expert to judge what the correct momentum/pace should be and I agree with Benson's estmate of 1 - 3 years maybe 4.
5. What about the interim ?
Interims have already been created with newer payment technologies that are not affiliated to the bank. We need to watch for these. We are already quite comfortable with online payments.
No idea as to what referred here as 'Interim' :/
