...by far the biggest issue is that it (Bitcoin/crypto) simply fails as money. But it works pretty well as a gambling/speculation scheme. In the article's ass

...by far the biggest issue is that it (Bitcoin/crypto) simply fails as money. But it works pretty well as a gambling/speculation scheme. In the article's assessment, bitcoin/crypto is really just a digital collectable --- not much different than a NFT. In my assessment, it is at the center of a semi-covert attempt to destabilize the US financial system. Look at how much the crypto marketplace bas historically been associated with China --- and still is. The world's largest crypto exchange was started in China by a Chinese national and is currently under investigation for money laundering and tax evasion. For much of it's early history, most bitcoin mining was done in China. Now that crypto exchanges are losing access to the US banking system, Chinese state owned banks are stepping in and throwing them a lifeline --- even though crypto remains illegal inside China. I'd love to hear a semi-rational explanation as to why something outlawed in their own country is such a significant interest/concern to state owned Chinese banks. This is no different than providing support and haven to manufacturers of fentanyl --- which they do even though fentanyl is banned in China. The most logical motive is societal harm to western competition. https://finance.yahoo.com/news/china-state-owned-banks-turn-050505204.html https://finance.yahoo.com/news/china-state-owned-banks-turn-...