"there are authorities who could control the network"
that is not true, and unfortunately shows a complete misunderstanding of the technology. The whole idea of blockchains processed by many nodes in a network is that no one or even several nodes can control things. If a node disagrees with the others, the odd man out cannot alter the records. Decentralizing, by its very nature, prevents a central authority from dominating the transactions.
All you need is 51% of the nodes and a small step for man but a giant leap for mankind type of technological leap or disaster. I think its not hard to imagine an entire country or countries without any power grid or communications in the very near future. EDIT TO ADD: Everything is impossible until it isn't, I bet on crypto going bust like a fart in the wind before some piece of land sinks into the sea, or some tangible gold coin evaporates.
"there are authorities who could control the network"
that is not true, and unfortunately shows a complete misunderstanding of the technology. The whole idea of blockchains processed by many nodes in a network is that no one or even several nodes can control things. If a node disagrees with the others, the odd man out cannot alter the records. Decentralizing, by its very nature, prevents a central authority from dominating the transactions.
All you need is 51% of the nodes and a small step for man but a giant leap for mankind type of technological leap or disaster. I think its not hard to imagine an entire country or countries without any power grid or communications in the very near future. EDIT TO ADD: Everything is impossible until it isn't, I bet on crypto going bust like a fart in the wind before some piece of land sinks into the sea, or some tangible gold coin evaporates.
I see your bet and raise you two Ethereums and a Tommy's Tamale.