Months ago it was common to find posts about how Bitcoin was going to turn the financial world upside down, destroying world governments, and finally providing financial freedom to the people. It was though that the government would not know how to respond to this "world changing technology" and would struggle to fight it until they finally died out.
Now it appears that the day to day use of Bitcoin will be not so different than current systems.
1. Most Bitcoins are bought non-anonymously on exchanges. When the average person will buy themselves Bitcoins, they will complete AML verifications tying their identity to the coins they purchased.
2. All financial institutions will AML verify even if they were to accept Bitcoin. Imagine Visa or Paypal begin accepting Bitcoin to pay your credit card bills and make purchases. People would see this as a massive benefit but how is it much different than we currently have? All your Bitcoin payments to them will be recorded and able to be subpoenaed by the government at their will.
While I still see Bitcoin as having excellent properties from non-seizability, to being easy and great to use for transactions, does anyone else think some of the ideological ideas of Bitcoin are dying, or at least heavily weakened?
1. An exchange uses BTC as well as Fiat money. If you use government currency you have to play my there rules. When people start earning BTC instead of buying them, things will change.
2) Visa and Paypal are unnecessary in the bitcoin community since BTC transaction are cheaper than any of their system.
