A good discussion. The "good" aspects of Bitcoin, assume that governments will continue to demand more controls on banks than on users of cryptocurrency. I think the proponents overstate the degree to which governments cannot disrupt Bitcoin. They get confused by the war-on-drugs analogy.

The problem with that, is that a drug's potency is unaffected by government regulations; on the other hand, a currency's liquidity and usability can be greatly hampered by government restrictions. Think of the impact on usability in a country where transactions with cryptocurrency are banned. True, it is physically possible for people to store their own keys; but they would be vulnerable to hacking and have no recourse in the event of theft. Stores could not post prices in cryptocurrency units, and investments could be solicited only on the dark web. Victims of fraud would have no recourse.