I agree with you on your assessment and pretty much every concern re "digital currency". Further, at some point not too far ahead there is likely to be a break-through on quantum computers which may gut all cryptography pretty much instantly. When will that happen? For sure? And how will we know? I don't know.
But paper and "trust in government" doesn't work; never worked. And it works less and less well with every passing year (with a bit of a step back from the edge of Leninism and general crook-ery with this year's election of "literally Hitler!").
I'm counting on humans improving -- I know that is a long shot. But it is the only shot we have, absent going back to the stone-age (and likely going extinct from there). Meantime, how do we sustain?
So it is with that in mind that I made my suggestion for a national "bitcoin" introduced deliberately. Think about it. Neither paper nor "metals" are without their major flaws. And, no, I don't have any bitcoin.
Right now my biggest concern is how to blunt the impact of global "de-dollarization" and end of "globalism"/One-World-Government.
I am plenty critical of the US government, but it appears to have been approximately the ONLY government on the face of the earth where "The Constitution" as codified Rule-of-Law actually survived a direct assault. Don't waste your time trying to find ANY rights, nor freedoms, remaining in any other country in the top 50.
So, all that said, I would vastly prefer (think it would be vastly better for actual humans) for the United States (con Constitution) to make it through the travails ahead and come out as a clear winner vs. brain-dead, anti-human, Leninism/Totalitarianism.
I always knew that Russia had no more pretensions of ruling the planet (because I've been there). But China? I've recognized since, at least the early 2000s that the real danger was Chinese "culture" and their Leninist-Totalitarian government aided and abetted by Western Totalitarians of all stripes. It's been kind of frustrating how many Americans had drunk the Kool-Aid.
Anyway, in the bigger picture, I see a US based, "legal tender" bitcoin as a huge net positive -- at least from the context of someone who regards the US Constittution as the best aspect of humanity and US in particular. Certainly better than allowing monetization of fiats already out there, sucking huge amounts of US wealth off-shore or into the hands of speculators.
So I thought, and still think, my idea was rather clever as an alternate.
And I thought there was a huge opportunity for the US if it did issue a national "legal tender" bitcoin, to sidestep the worst of the financial, global trainwreck of hundreds of trillions of debt hitting the wall. Heck, U$B doesn't have to be the only currency -- just an off-ramp, or resting stop, for those who have had their fill of government mandated fraud and abuse.
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