>States want crypto precisely because they'll be able to fully control the finances of citizens. Like they largely do already? How do you think cryptocurrency

>States want crypto precisely because they'll be able to fully control the finances of citizens. Like they largely do already? How do you think cryptocurrency substantially changes any of that? >The Chinese central bank has filed hundreds of patents for CryptoYuan and is fast-tracking its efforts to back it with gold so they can win the crypto war. Must be nothing. DCEP differs from existing cryptocurrencies because it is legal tender, centralized, and not anonymous. It's backed by Yuan deposits for crying out loud! It's nothing like BTC! The Chinese government's plan is to digitize the yuan, not introduce a separate cryptocurrency. They're doing it to capture the missing part of the population not in the existing banking system (and thus the multiple methods of surveillance employed to track citizens and control their liberty). >You have no idea what the value of a smart contract is, because no one really does. Thank you for helping prove my point. >Judging by the progress of technology, I'd say we're about 5 years away from being able to download the full Bitcoin blockchain within an hour. Your _guess_ is irrelevant and unsubstantiated. The fact is that 40% of the world's population isn't even connected to the internet and even less than that have access to broadband indicates to me that it will be more than 5 years before the average user can download the staggering 321GB of the full BTC blockchain. You're mistaken if you think I don't take cryptocurrencies seriously. They're very serious, but it doesn't make them good or right.