China’s war on the dollar and cryptos will most likely fail but it’s a significant event nonetheless. Most likely it will succeed in driving global transactions away from the dollar though by encouraging more experimentation in digital/crypto currencies.
See, IDK if I buy that. US/China trade makes the world work right now. Fact is though, US GDP is about 14% from foreign trade, pairing it down hurts who more in the end?
It’s just a matter of time before Central Bank Digital Currencies supplant the old school dollar in international financial transactions.
CBDCs—or blockchain based official government
currencies—will be transformative and play an integral part of the
developing digital international monetary system and world
economy, revolutionizing financial services, banking and the global
financial infrastructure. CBDCs are in various stages of
development, but China’s progress is the most significant. In
comparison with the United States, China’s CBDC is substantially
more advanced than a potential digital USD. The US Federal
Reserve is proceeding slower than China’s PBOC and of course the
US governance model is not only procedurally different but must
also consider complex substantive issues such as individual
privacy and data control issues.
By first introducing a CBDC—the digital Yuan—China may
earn “first mover advantage” and influence global standards with
respect to CBDC definitions and regulations. A digital Yuan on a
centralized platform will enable faster transactions per second—
far in excess of the present capability of the existing USD financial
institutional architecture.
https://ir.lawnet.fordham.edu/cgi/viewcontent.cgi?article=2802&context=ilj
We shall see. Good stuff…way over my head. I’m still working on what Blockchain is. lol
That would be a great forum topic. BrianJones has all the answers so we’re in luck.
Here’s a good starting point: Simply Explained: Why is Proof of Work Required in Bitcoin? | by Anthony Albertorio | Coinmonks | Medium.
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The market the past few weeks feels like quicksand, slowly dragging you down, at least when it comes to my portfolio.
I’ve just gone negative for my IBRK stock account I opened a few months ago.
I figured that accounts for the lack of posts here recently. Fortunately I have a fair bit of cash on the sidelines. Wondering what to do next.
I’m not selling any stock, everything can sit there for a long time, a lot of travel stocks mainly .
I’m making ground, but I am out of all of the speculative stuff I was in. Dividend heavy stuff now, and gold, and tobacco, which has been on a tear.
On TraderTV they just talked about tobacco and how it is down because Biden announced a reduction of nicotine in cigs…
Yeah I saw that. My MO is down 8%. PM is strong. But, given that I’ve owned both since 2005, we’re still in the black.
pun intended…?
Cough cough…
Ahem…
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I own some oil stocks. Now that they have gone up I should ditch them and lighten my guilt with a dollar waterfall.
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dollar cleansing, interesting concept
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I am at 7% for the past half year or so, down from like 50%~~
Today is 
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Oil prices are up but Suncor is getting destroyed. I think the market is uneasy with the Derek Chauvin decision pending soon
I don’t allow that to happen anymore. Burned too many times. 
I own ALB since before its latest runup. It’s a Brett Owens rec.