Personally I suspect that BTC will be used as the second strike to completely economically destroy the upper middle class of the USA. A limited hangout to dethrone the USD for a short time before transitioning to a digital yuan.
First the dollar will lose its reserve status. Inflation will spike and btc will rocket more, it will be near irresistible for the public not to join in. We're talking hundreds of thousands of dollars.
Then BTC will be crashed, and with it nearly all of the wealth of the US upper middle class will be transferred to China/ abroad.
The CCP strategy generally is to turn a feature into a flaw. This is likely their plan with BTC. BTC is distributed, which is one of it's main features, but that also means that if it is attacked it is basically defenseless, that is the planned flaw.
But many ancient whales control large swaths of BTC. China could try and collapse it and would temporarily knock it down but it’ll rebound with a vengeance.
Yeah agreed ancient whales are def still present and a factor.
Whales are not, so much of the current price is built on leverage that even if the CCP blows their load and can only cause a small correction, all they need it to do is hit a number that would trigger a cascade of deleveraging events like march 2020.
It will be interesting to see how it plays out for sure.
This is not financial advise.
Personally I suspect that BTC will be used as the second strike to completely economically destroy the upper middle class of the USA. A limited hangout to dethrone the USD for a short time before transitioning to a digital yuan.
First the dollar will lose its reserve status. Inflation will spike and btc will rocket more, it will be near irresistible for the public not to join in. We're talking hundreds of thousands of dollars.
Then BTC will be crashed, and with it nearly all of the wealth of the US upper middle class will be transferred to China/ abroad.
The CCP strategy generally is to turn a feature into a flaw. This is likely their plan with BTC. BTC is distributed, which is one of it's main features, but that also means that if it is attacked it is basically defenseless, that is the planned flaw.
This is a genius theory.
But many ancient whales control large swaths of BTC. China could try and collapse it and would temporarily knock it down but it’ll rebound with a vengeance.
Yeah agreed ancient whales are def still present and a factor.
Whales are not, so much of the current price is built on leverage that even if the CCP blows their load and can only cause a small correction, all they need it to do is hit a number that would trigger a cascade of deleveraging events like march 2020.
It will be interesting to see how it plays out for sure.