Comments by "Charles Brightman" (@charlesbrightman4237) on "Harvey Pitt Sees 'Fair Amount' of Crypto Regulation Ahead" video.

  1. Question: Are global crypto currencies just another way to steal a nation's wealth to a place outside of the respective nation?
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  2.  @skyak4493  Again though, how is electronic currencies going to be accessed and spent when the internet goes down?
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  3. Question: How are crypto currencies going to be accessed and spent, 'when' not 'if', the internet goes down due to the Earth's magnetic field weakening, the Earth's magnetic poles moving and all the related magnetism issues? Plus, crypto currencies are not backed by things like the FDIC.
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  4.  @h.c4898  Don't you understand, it would be a global event. Satellites go down, satellites go down.
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  5.  @skyak4493  Well a few things: a. Russia is already moving away from the US dollar as a reserve currency and I have heard other nations want to follow suit. b. China's economy is supposed to pass the US's economy later this century, (assuming mass extinction type events do not occur). c. BTC I have heard some people say is a way to store money. d. Seems to me that cypto currencies might become a reserve currency one day, and if it's China's digital Yuan, it will be China's digital Yuan. * Destroying a nation's currency can destroy a nation's economy.
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  6.  @skyak4493  a. This was per a recent YT post about a few months ago. I assumed Russia had at least some US reserve currency due to they were leaving some of it behind. b. So, why is the USA buying goods from China if China is the US's 'enemy'? 'Funding the enemy', now there is a stupid strategy. Of course also, China funding US's debt, now there might be a stupid strategy on China's part if they see the US as the 'enemy'. c. I agree. Once the grid and internet go down, they won't be able to access or spend their crypto currencies. (Due to Earth's magnetism issues). d. The USA's reputation backs it's currency. Under Trump, he alienated America's allies and emboldened America's enemies, exactly opposite of what he should have done. And America's ever growing national debt would not seem to help it's reputation in this world, of which also, if America is supposed to be so much of a financial wizard, then why are they in so much ever growing debt and have countries like China funding in part it's debt? People seem to say one thing but the activity seems to indicate otherwise.
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  7.  @skyak4493  a. "...and are attributing quotes to me that I never made." You are showing your ignorance. If you think when I said that, "This was per a recent YT post about a few months ago.", that I meant you said it, you are sadly mistaken. b. I am not arguing international politics with you. If you think I am, I am not. Here again, you are sadly mistaken. c. "I have no intention to influence your preference of any government backed currency beyond this advice: accumulate the currency/debt of countries that produce the things you want and need while avoiding currencies of countries that don't offer good property rights." Okay, that is fine if that is your view. My view is that if a certain country is considered our 'enemy' then why are we financially supporting it in any fashion? Surely the USA can do without things 'Made In China' if China is the USA's 'enemy'. d. "Distributed crypto currencies are backed by nothing with no rights." We found an area of agreement.
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  8.  @skyak4493  Okay thanks.
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