Bitcoin, Ethereum, Cryptocurrencies

[gfp927z]

What the government/central banks wants is a system similar to the current one, only all-digital with no cash. The banks would continue to be the 'trusted 3rd party', and the absence of cash means that all transactions would be digital and therefore trackable, taxable, and 'freeze-able'.

As Jim Rickards discusses, the Russians and Chinese are interested in setting up their own digital or crypto system to use as an alternative to the US dollar system. This will weaken US dominance and prevent the US from imposing sanctions on Russia/China or threatening to ban them from using the SWIFT financial settlement system, something the US has already done to punish Iran and North Korea.

Where Bitcoin fits into all this isn't clear, but should be interesting. But bottom line, it looks like there could be a lot more upside to come in the near/mid term for the crypto speculators :o)