No Department of Education. Make America First Grade Again

Then Trump will personally invite Putin and Russia into a special “Friendship Union” with the US. We can call it FU2…

… for now. If a President wanted to destroy the dollar as the world’s reserve currency, he would do all the things Trump is doing right now.

Ah, on this point I think you are incorrect. Since there are exchanges all over the world actively trading between crypto and their local currencies, crypto provides an interesting route around the currency exchanges.

If the Dollar (and only the dollar) tanks with respect to other conventional currencies, it’s very likely to tank vs. Crypto as well, because those Crypto holders can easily choose to buy Euros or Yen or whatever with their crypto instead.

I actually think this is the end goal with Trump’s Strategic Shitcoin Reserve: sell dollars for crypto, tank the dollar, buy back dollars with crypto…

The original promise of crypto was as a distributed, peer-to-peer way to transact, without the permission of any third party. Think Paypal or Venmo, but without having to trust Paypal and Venmo with your bank details. And when the price of BTC was a few hundred dollars, people were slowly using it to transact. But then, the price started to climb. And that was the worst possible thing to happen to Crypto, because now people started considering it to be an “investment” and too precious to spend. (BTC developers even deliberately kept their on-chain transactions expensive, to push their off-chain solution for small transactions, but That’s a whole different post).

There are coins that are still good as currency, they’re just not a good “investment” so they don’t get attention. (Some Monero shill will be along shortly to tell us how awesome XMR is.)

I spent a lot of time in the crypto space, not as a “true believer”, but rather as someone who wanted to know how it all worked. And I’ve concluded that crypto really does enable trustless transactions. However, I’ve convinced myself that nobody (outside of the extreme libertarians) actually wants that. Your average Joe doesn’t care that PayPal, Google, or their credit card company is spying on (and perhaps taking a piece of) all their transactions. They want something that is easy to use, and whose value doesn’t fluctuate with Elon Musk’s tweets.

I dont think it’s kind to heckle Tesla owners. But I do admit I laugh out loud every time I see a Cybertruck. They’re that silly.