I think we are just in a golden period like the 1920s before May 1, 1933 when gold was confiscated.
Central bank digital currency seems inevitable. I imagine in the far future there will be central bank digital currency and illegal crypto currency that facilitates black market transactions. Crypto holders will be smeared in narratives as drug traffickers and criminals. At some point there will be risk outside of volatility with holding crypto. I just can't see how things evolve any other way.
The digital Yuan is going to be incredibly tough competition for the West that I don't see how a renegade non-central bank digital currency does not eventually come to be seen as counterfeit.
In a sense, it could be good for bitcoin long term for the speculative mania to die.
Then it can possibly find some price stability to actually function as a currency.
This is all standard speculative mania stuff right now though. The bubble burst, next the scams are uncovered and wiped out, regulation comes in then to "protect" investors from being scammed in the same fashion in the future.
GOOG had 22% revenue growth up to 68 billion dollars last quarter. Not being able to see the difference between GOOG and crypto pretty much sums up the sophistication of crypto investors.
This really can't be overstated. Propaganda was highly effective even as words on pieces of paper distributed once a week or infrequent AM radio broadcasts.
I believe the old idea that would hold even more so now is that the only defense against propaganda is essentially to be illiterate. It is really hard to propagandize a person who can't read. The more informed a person believes themselves to be about the world from text, the more propagandized they are. I believe that is from Edward Bernays.
Bloomberg has taken this to another level. It use to be a straight financial news source.
I would imagine it is the effect of Twitter on the news in general.
It is almost like an economy that gets most of its revenue from oil and gas would want oil and gas price to go up so that it makes more money.
You would almost think high oil prices hurt the US and West more than it hurts Russia.
That can't be the case though because we have such brilliant and competent leaders that have thought through all the variables as opposed to making rash emotional decisions because they are also addicted to social media like the general population.
Off Track Betting near me is also always packed with people betting on horses. No one there though is foolish enough to create an ideology around horse betting and I am sure most know deep down the house always wins.
The Huy Fong brand though is so widely available in the US. I have even seen it in multiple sections of the grocery store.
Even if not the true Sriracha sauce, there is no way to displace the rooster in the US. I love the Huy Fong brand, at this point the true sauces will just taste different to me. It is basically impossible for them to taste "better" than Huy Fong to me. Maybe this would be different if starting from zero and no expectations but that is not the case.
The shortage will just make the Huy Fong fans want it more in the US.
Central bank digital currency seems inevitable. I imagine in the far future there will be central bank digital currency and illegal crypto currency that facilitates black market transactions. Crypto holders will be smeared in narratives as drug traffickers and criminals. At some point there will be risk outside of volatility with holding crypto. I just can't see how things evolve any other way.
The digital Yuan is going to be incredibly tough competition for the West that I don't see how a renegade non-central bank digital currency does not eventually come to be seen as counterfeit.