> Control of the currency is one of the core governmental functions, I find it hard to imagine a world where governments are OK with this.
Are you not aware about the countries that are seemingly OK with this already? There are countries that don't have their own national currency and instead rely on United States Dollar, so obviously what you say doesn't always apply.
> I find this unlikely, but we'll see I guess.
Why? They're already in a "hard to imagine world" (from your perspective) since they don't have control over their own currency, wouldn't it be "easier to imagine" that they move to a currency no one control?
> Are you not aware about the countries that are seemingly OK with this already? There are countries that don't have their own national currency and instead rely on United States Dollar, so obviously what you say doesn't always apply.
This is generally making the best of a bad situation. Like, I'm from a country that was pegged to another country's currency for a long time, and it caused lots and lots of problems.
Now, I'm part of a currency union, and that too causes lots and lots of problems. I'm not sure why any government would want to give up currency control to Coinbase/Tether/Stripe, like it's bad enough when there's another central bank on the other side, but a bunch of tech bros seems like a step too far.
> Why? They're already in a "hard to imagine world" (from your perspective) since they don't have control over their own currency, wouldn't it be "easier to imagine" that they move to a currency no one control?
This is not true, there's always someone in control. The notion of perfectly algorithmic currency is beloved of a lot of people, but what happens when this hits the legal system? Fundamentally either the service gets banned or the algorithm gets tweaked (which indicates that someone has control).
Are you not aware about the countries that are seemingly OK with this already? There are countries that don't have their own national currency and instead rely on United States Dollar, so obviously what you say doesn't always apply.
> I find this unlikely, but we'll see I guess.
Why? They're already in a "hard to imagine world" (from your perspective) since they don't have control over their own currency, wouldn't it be "easier to imagine" that they move to a currency no one control?