I have a strong feeling heavily monopolized/subsidized institutions will have a hard time accepting bitcoin; they will likely buckle and disappear before that happens, which I am not opposed to. But it would seem to me government institutions especially, though perhaps specifically in America, will sink with the dollar. They can't inflate bitcoin, which means taxes will realistically reflect what they're being spent on and nobody would accept that bill if they knew the real cost of all that military, there'd be a revolution the next day. It seems like they're being backed into a corner ever so slowly, and though I recognize that it's inevitable that something will eventually replace the dollar (after all, nobody uses the
denarius anymore, so certainly the dollar can disappear), and bitcoin just happens to fill that gap very well, my biggest concern is how badly oligarchical governments will lash out in their dying throes before croaking.
I'm not so worried about how people will transition from one currency to another; they seem pretty good with that, they've done it many times before, though many of us haven't in our lifetimes. But this massive shift between a highly centralized environment to a highly decentralized environment is likely what can get us killed if we're not prudent and meticulous in our action.
