How Bitcoin Can Overtake USD

How Bitcoin Can Overtake USD

as us dollar continues to lose its  appeal globally and domestically the  united states government going to impose  harsh regulations on cryptocurrencies  soon in an attempt to maintain power and  control over the financial system hello  I'm Krypto Casey and welcome to another  episode of crypto this week every Sunday  we explore the latest global news  stories affecting the crypto markets as  well as the ever-changing macroeconomic  environment of the world at large if  you're interested in seeing more content  like weekly curated news and how it  affects the crypto markets;

 I trust capital if you  are interested in trading crypto tax-free within a tax-sheltered retirement  account like a traditional or a Roth ira  I trust capital is a great option they  have the lowest transaction fees in the  industry at one percent zero service  fees and will soon be the first and only  crypto retirement account provider that  supports defy activity like staking so  scroll down to the description area  below to access I trust capital's  correct and official site all while  supporting my  cool there is rampant scamming activity  happening in the finance and crypto  space right now with people and bots  duplicating social media accounts of  influencers and educators in the  financial space like myself so the only  official accounts I have are listed in  the description area of this article,

  what's going on with our dollar and  inflation  well if you tuned in last week one of  the questions we pondered was whether or  not the government was going to fire up  the money printer again to issue more  stimulus checks amid rampant inflation  and this week we've got some answers  stimulus checks for inflation here are  the states planning to send money to  residents  California governor Gavin Newsom said  he's proposing to send direct payments  of 400 per vehicle to state residents  with a cap of two vehicles the checks  could arrive as soon as July pending  approval from California lawmakers  as soon as July four,

 whole months from  now  good old government efficiency at its  best Georgia governor kemp signed a bill  that will send rebates to taxpayers who  have filed returns for 2020 and 2021  the state will send 250 dollars to  people who filed as single taxpayers and 375  dollars to head of household in 500 for  married filing jointly Hawaii in January  governor David Ige proposed sending 100  to each taxpayer and their dependents  that means 400 for a family of four  Idaho in February governor brad little  signed a bill that includes 350 million  dollars in tax rebates it will apply to  12 percent of an individual's 2020 Idaho  income tax return or 75 for each  taxpayer  Indiana Indiana residents will receive  125 dollars each after they file their  taxes in 2022 due to higher than  projected tax revenue according to the  anti-star  Maine governor mills wants to send 850  dollars to most residents as part of the  state's budget bill,

  okay, finally a more decent number even  though it's based on this complete  trash data  her office said that the average  resident will spend 560 dollars more  this year than last due to inflation  Minnesota governor Tim walls has  released a plan for spending the state's  budget surplus that included a proposal  for income tax rebate checks of one  thousand dollars per couple  new jersey governor Phil murphy included  cash checks of up to five hundred  dollars to about 1 million families as  part of a budget deal last year,

  new Mexico  governor Michelle Grisham signed a law  to provide 250 rebate checks for  individuals and 500 for married couples  new york governor Kathy hull is  proposing tax relief for new yorkers  through a 1 billion property tax rebate  program  the average benefit of the property tax  rebate would be about 970 for homeowners  outside of new york city according to  Bloomberg news  yes for all those people that are lucky  enough to own homes in new york which is  probably not a lot in this market  Virginia lawmakers in Virginia are  expected to pass tax relief in the form  of a rebate check although the amount  isn't clear yet  nice pretty amazing how one of the main  ways we are trying to support people amid record-breaking inflation  is by further decreasing the purchasing  power of money by printing more of it,

 which is what got us here in the first  place among other things in addition to  losing purchasing power us dollar's  global standing as the top reserve  currency has lost ground to china's yuan  and others say imf the dollar's  dominance has been dented due to central  banks looking to diversify their  holdings  China has pushed for greater adoption of  the yuan and recently held talks with  Saudi Arabia for a yuan-based oil deal  very interesting  move away from the dollar as the  cornerstone of the international reserve  system is underway as one rise in other  countries roles causes them to become  more attractive as a non-traditional  reserve currency like we saw last week  in the story we covered about Russia and  India resurrecting the cold war era  rupee ruble mechanism of trade,

 and now  this week china's talks with Saudi  Arabia for a yuan-based oil deal  and two other countries' need for and  reliance on us dollar exposes them  to potential sanctions and political  leverage like we saw happen against  Russia so we've got the rupee ruble yuan and  us dollar all of this centrally  controlled a medium of exchange ever-inflating faith in governments backed  fiat battling it out how will this pan  out well let's explore this together in  this interesting article bitcoin is  overtaking the world's previously most  popular brand us dollar  comparing bitcoin to a brand and looking  at how apple became larger than  coca-cola can give us a glimpse into how  bitcoin will overtake the dollar,

  this article covers a Twitter space  conversation where tomer strolling  compares coca-cola to us dollar as  the world's formerly most powerful brand  and likens apple's rise to bitcoin as  the thing that will overtake the dollar  coca-cola was once the king of brands  but once apple came along software  became bigger than products with its  ephemeral and tangible value  Sterlite says apple overtook coca-cola  in value not because they were selling  electronic components which are  commoditized but because they had  amazing software where it did things  that no other company software was able  to do and this is what we pay for  people pay for the incredible experience,

 that software creates by viewing the  dollar as a brand it is coca-cola in  this analogy dollar doesn't have  software bitcoin is software  strolling talks about all the reasons  bitcoin is a solid brand it doesn't have  a marketing division nor a budget the  name rolls off the tongue and it's  obvious that it's digital money because  bits are digital and coins are money  it's easy to spell and it works in any  language bitcoin as a brand with  software at the core is on track to take  over the legacy system  bullish but we all know our dollar is  not going down without a fight  Biden's proposal for a new digital  currency is an attack on liberty,

  a central bank digital currency would  put even greater authority in the hands  of a small number of bureaucrats while  the world remains focused on the tragic  situation in Ukraine the Biden  administration is preparing to launch  America's first government-backed  digital currency if a new digital  currency is rolled out it could  substantially reduce individual rights  and give the federal reserve and the  national government significantly more  power over our economy  this is a truly remarkable and deeply  troubling development if a CBD were to  be created it would dramatically expand  the power and influence of the federal  government,

and federal reserve in ways  most Americans won't understand until  it's too late to roll the cbdc back yes  this would be an extremely terrible  event if our government created a  CBD and was successfully able to force  us to use it before your paycheck hits  your account any parking tickets child  support alimony taxes fees etc will have  been taken out first leaving you with  the balance assuming that there is one  also the government could control what  you can purchase for example if  they decide you have unhealthy eating  habits your money would only work to  purchase food items they deem  appropriate and restrict you from  everything else,

 or if you are a  protester or if your beliefs don't drive  with theirs they can easily penalize you  through the financial system  and they could definitely prevent people  from using their money to invest in  cryptocurrency like bitcoin  very bearish  so if there is anything we need to be  mindful of and vigilant about throughout  this year is to do our best to spread  awareness of us's impending central  bank digital currency its implications  for the future and our lives and fight  against it the government and lobbyists  will spend tons of money spreading  propaganda that this is a great move for  us,

 and will help everyone and make  the world a better place but it  absolutely will not  why would unions environmental groups  and business lobbyists be involved in  the creation of a new currency unless  that currency is programmable  perhaps the most disconcerting of all is  that a programmable central bank digital  currency could be altered at any point  in the future giving it the potential to  be politicized or to be subject to even  greater restrictions very scary so let's  wrap things up with one final scary  thing that probably affects a lot of us  google issues emergency security warning  for 3.2 billion chrome users attacks  underway

 all chrome users are therefore  advised to ensure their browsers are  updated as a matter of urgency  so if you are a chrome user make sure  you click the update button in the top  right-hand corner of your screen to  ensure that you are using the latest  version of chrome to protect yourself  from potentially becoming a victim of a  cyber attack and if you haven't already  please consider securing your data  privacy and yourself at large by  investing in a VPN or virtual private  network provider as a crypto investor  using a VPN is an easy effective and  important way we can further protect our  investments and pretty much all of the  data that we pass between ourselves and  the internet nordvpn is my personal  favorite I've been using them for  several years

 and they are one of the best in the industry nordvpn is giving us the chance to redeem their two-year protection plan at a 70 discount plus one month free.