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George Gammon always has a fun and insightful take on macroeconomic issues.
China is preparing to own the reserve currency:
https://youtu.be/eQEw1_aKjik
I have to wonder about digital currency? Seems like we already have it and have had it for 40 years, credit and debit cards. Bitcoin, and all the other would be players are just using the bigger fool theory, I have a great idea. Just send me all your money and I will issue a few key strokes and assure you that they will be worth a lot more in time.
I also have a Bridge in Brooklyn that is for sale, snipe that you will enjoy hunting and a few dozen pyramid schemes that you might want to look at while you are throwing your money away. These types of scams normally benefit the instigators as the figments of their machinations gain value. In the real world this is call PUMP AND DUMP. There is a sound reason that our Constitution tasks the government to provide a national currency. With the demise of precious metal backing government currencies have no solid backing, there is only the faith of their citizens to give the Peso any meaning. I must say that inflation and currency production has ruined my faith in the Dollar. Can you say $25 trillion and climbing? If you think you are going to make a killing by all means get into cryptos, it’s your money to win or lose. Money in cryptos is like a vote in a Dominion voting machine, subject to the hackers skill, and you can bet China has thousands of slaves working overtime on hacking these cryptos to drain the bank. JWR has it right: if you want to play in this mugs game make sure you keep your bets to what you can afford to lose, that way you will not be surprised when it happens. There are no free lunches, just odds on the schemes. ie get in early, get out in time.
So readers have by now seen the movie, about how manipulation of computer hardware, software, and net connections worked wonderfully with regards to their sacred precious right to vote. How and why is anyone using their own financial assets for the purpose of gaining value, storing wealth, transferring of funds by any such computer bit methodolgy. I suppose if one is a gluttunous uber wealth resident of the redoubt and wants to engage in more avarice and greed exercises, just like when giddily visiting the nearby casinos, I guess that is an understandable character trait.