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Plus it is hard to use and distributed network trust isn't particularly advantageous compared to a legal system.



Use of the legal system is restricted to corporations and HNW individuals (who typically have multiple corporations, so....)


No, most banks will reverse illegitimate transactions for run of the mill customers.


I see, so the banks are the new judiciary?


No, they are required by laws to do certain things and courts only have to come into it when they don't do them.

I didn't say "go to court", I said "a legal system".

Users of bitcoin can also use the legal system to do things. But then you are messing with bitcoin for what reason?


Because I want my grandchildren to be free humans, to live out their lives in productive, peaceful harmony (and yours). Debt-based currency and monitored, controlled transaction systems are fundamentally incompatible with this goal.


It'd be interesting to construct a model of bitcoin as debt, the debt being the future energy costs needed to run the network (which is necessary for bitcoin to have any value today).




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