Central Banks in New Zealand and Australia Issue Bitcoin Warning.

Why wouldn't the commitment of capital to mining infrastructure reach a tipping point where in Bitcoin is king?

 

King of what ?

If the IMF decides the crypto currency concept is a goer they can just invent their own with special properties agreed to by the major trading countries.

Why would they even bother with bitcoin at all ?

 

King may be to strong a word I guess. What I mean is, If Bitcoin's strength comes from its function:

1) Limited supply
2) Fungibility
3) Widely accepted
4) Representative of immense expenditure & man hours in it's accumulation ($15,000,000 a day spent alone on power to mine bitcoin at the moment)
5) Non reversible transferability
6) Portability
7) Can not be Leveraged
8) Decentralised supply

...And many of these function where once upon a time factors of other money used in global trade. Will not the advantages eventually come to be so widely recognised, that all will want it, over any and all alternatives.