The biggest threats to the US Dollar retaining its global reserve status are the Federal Reserve and the Treasury, which have both proven to lack any sense of self control when it comes to printing new dollars out of thin air to paper over a hyper-financialized and fragile economy. Presenting a digital yuan as a major threat to the USD's reserve status is nothing more than a distraction that deflects from the truth of why any type of cuck buck, let alone the USD, doomed in the long-run. Cuck bucks, no matter the form, are without fail micromanaged into irrelevance via unfettered supply inflation and/or granular control that prohibits certain types of economic activity.
A digital yuan or digital dollar won't be much different than the digital yuans and digital dollars that already exist today. Sure they may run on different rails that leverage a centralized blockchain like Ethereum, however, the ability for the Chinese Communist Party or the Federal Reserve + the Treasury to exert the same type of micromanaged control over their cuck bucks will be no different. They will continue to print and censor economic activity on a whim. The transition to a centralized blockchain will be nothing more than putting lipstick on pigs that are already pretty caked up.
Now that we have a truly free market for monetary goods with the emergence of Bitcoin, the reality is that the dollars and yuans that are already digital and may take on a new digital form in the future have to compete with bitcoin on the open market. Due to the nature of this open monetary competition, the cuck bucks of the world will have to compete with Bitcoin on merit. Objectively speaking, there is no way the digital cuck bucks of the world will be able to compete due to the fact that they have control levers that can be manipulated whereas Bitcoin, if it remains sufficiently distributed, does not have those levers. This gives the citizens of planet Earth the decision to opt into a globally distributed peer-to-peer monetary network with a native token that has a hard capped supply that cannot be manipulated or to continue using monetary goods that are thrust upon them by increasingly authoritarian governments who have proven time and time again that they will debase purchasing power and censor transactions.
Like we mentioned last week, Bitcoin the network and bitcoin the asset are two step function improvements when compared to the cuck bucks that rule at this current moment. Over time, this step function improvement will become undeniable and no amount of marketing or cheerleading for any type of digital cuck buck will change this fact. Central Bank Digital Currencies are nothing more than slightly improved monetary surveillance tools that will be used to track individuals and prevent them from engaging in certain types of economic activity that are subjectively deemed unpalatable by these authoritarian regimes. The long arch of history bends towards human freedom, liberation, and increased quality of life. With that in mind, I believe humans will continue to opt for freedom enhancing tools as time moves forward. This means that humans will opt into Bitcoin en masse instead of continuing to live under the yoke of cuck buck monetary systems.
Surfing on Independence Day really drives home the natural beauty of the United States and what it means to live free. There is nothing more raw than the ocean.