Why we need Bitcoin despite its flaws

“In a potential future ‘cashless society’, I want Bitcoin to exist. I want something that feels roughly like electronic cash, something that can exist as a marginal counterpower outside the walled gardens of mainstream payments… And like coins, I expect Bitcoin will never become a dominant payment system. I expect it will, at most, account for 1 per cent of transactions. But that is fine. 1 per cent privacy is going to be a lifeline in any future world of 99 per cent bank surveillance.”