Bitcoin and electron money types Beware : the US is seeking and plotting a sovereign CBDC ( cashless system) and will NEVER tolerate ANY completion.
China abolished private digital currencies, so will/ so are all the other Nations developing their own sovereign cashless systems.
The only thing that a CBDC will be is A digital version of the very Fiat currency system that is imploding upon itself as we watch. They will be able to issue new “currency“ anytime they desire. The real negative is, of course, that they will be able to track our purchases, and tax every single penny of our income, and also, shut down our access to our own money if they so desire. As far as I am concerned, it is a naked attempt to impose a financial tyranny upon this country.
However, I don’t think that you understand how bitcoin works. The ledger is decentralized. There is no one place, or one group of people, that controls it. It is an algorithm present on thousands or tens of thousands of computers, worldwide, and there can only ever be 21 million of them. That won’t occur Until over 100 years from now, but at this point there are approximately 19.7 million that have been “mined.” This is beyond government control, and was purposely designed to be international in scope.
I am certainly no expert, but I do know that it is far superior to Gold in many ways. First, it is impossible to ever have more bitcoin created than the algorithm allows for. Thus, as the population of the world increases, and as wealth increases, it will actually be a deflationary currency. In other words, it almost must go up in value over time. Second, US government is not going to outlaw it. There are presently exchange traded funds owning approximately $50 billion worth of bitcoin that are trading. Blackrock, not exactly a financial player with no influence, is about to be authorized to trade options on its in-house ETFs. The other company is running their own. ETFs will apply for and receive similar treatment. Nations are beginning to add bitcoin to their sovereign wealth funds. Companies like Microstrategy are beginning to add bitcoin to their long-term financial reserves. Contrary to what you think, bitcoin is not only not going to be going away, it is going to be become more and more of a force within , the world of finance. Additionally, if Trump is elected, which is beginning to look more likely as time goes on, this government will not be issuing a CBDC, And will likely be developing a reserve of Bitcoin like other nations have started to do.
Again, I am no expert by any means, but I would urge you to do more reading, and to watch some of the more thoughtful videos on YouTube. I would specifically suggest watching some of the speeches and longer interviews given by Michael Saylor, The CEO of micro strategies, which owns roughly 230,000 bitcoin (More than one percent of the total supply that will ever exist). He is an exceptionally brilliant guy, MIT educated, if that means anything to you, and he has changed from a position less than 10 years ago of believing that bitcoin was a scam, into one of its biggest proponents.