National governments are creating digital cryptocurrencies.
This matters a lot more than all that other shit.
Once something gets government backing there’s a guarantor of value for the currency because there will always be an entity that will accept it as payment (taxes, fees, fines, etc). That same entity is also capable of incredible amounts of violence, and can kidnap or even kill people who don’t pay those taxes, fees, fines, etc etc.
The problem with Bitcoin, or any independent crypto that isn’t created by a government backer, is that it only has value because people agree that it has value - they can change their minds whenever they want, and they can’t really enforce the value at the end of a gun.
When a government says a currency has value, they aren’t likely to change their minds and can shoot you if you disagree.
This matters a lot more than all that other shit.
Once something gets government backing there’s a guarantor of value for the currency because there will always be an entity that will accept it as payment (taxes, fees, fines, etc). That same entity is also capable of incredible amounts of violence, and can kidnap or even kill people who don’t pay those taxes, fees, fines, etc etc.
The problem with Bitcoin, or any independent crypto that isn’t created by a government backer, is that it only has value because people agree that it has value - they can change their minds whenever they want, and they can’t really enforce the value at the end of a gun.
When a government says a currency has value, they aren’t likely to change their minds and can shoot you if you disagree.