May 25, 2022

The whole truth about Bitcoins.

1. Bitcoins and other cryptocurrencies are a kind of finite money.
2. Accounting for rights to bitcoins is carried out in distributed encrypted database, approximately the database sits on 20 million computers.
3. The amount of funds in cryptocurrency is 5 trillion. dollars (total printed 300 trillion. dollars).
4. Cryptocurrencies are a direct competitor to Fed dollars. But the Fed supports cryptocurrencies, strongly campaigns for cryptocurrencies.
5. China, India, Islamic countries banned cryptocurrency. Up to criminal responsibility.
6. Cryptocurrencies are a highly risky asset, drawdowns of 50% are not uncommon. In fact, cryptocurrency is the game of "The Last Fool".
7.A mathematically strong flaw in cryptocurrency is that connecting more computers (21 million computers in our case) or one supercomputer allows you to rewrite all hashes or completely change the database. For the Fed, cryptocurrency is not dangerous, you can always reset it.
8. In practice, the approach from par.7 has already been used twice at least. After the first case, the Fed (~10 years ago) allowed cryptocurrency. After the second (2 years after the first case), the Fed allowed to exchange crypto-currency for dollars, introduced futures for crypto-currency.

Total:
1. Cryptocurrency is a highly risky asset, the game "The Last Fool".
2. The Fed will reset the cryptocurrency at the moment it needs (at the height of the crisis, when stocks fall by 30-40%).
3. China and India care about their citizens or don't want depositor riots.
4. The Central Bank of Russia and the Ministry of Finance of the Russian Federation, as agents of the FRS and the IMF, are promoting the idea of ​​cryptocurrency to the masses. Their work is like this.