Joseph H Sadove
2 min readMar 23, 2021

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"Bitcoin’s ultimate mission purpose is to become the world’s Reserve asset."

I agree with Andrey’s assessment of what the mission and purpose of Bitcoin and Decentralization is.

But, first a reality check. The following is utter nonsense:

“As the world stands today, different participants in the world economy (primarily China & Russia) have moved off of the dollarized standard & begun using alternative assets to conduct global commerce.”

Neither China nor Russia are “using alternative assets…” Both China and Russia devoutly wish this to be true. Russia cannot do much about it and hasn’t except for spreading the Crypto/Decentralization dogma. China, however, has been systematically creating a parallel “economy” through initiatives such as Belt-and-Road and large lend/lease transactions all priced in Renminbi.

As for Chinese and Russian use of crypto….

Chinese citizens are prohibited from buying/selling/having an account on an exchange, but are permitted still to “own” crypto and all “alternative asset” exchanges are banned in China:

https://www.mondaq.com/china/fin-tech/944330/regulation-of-cryptocurrency-in-china

Russia permits crypto ownership and trading but only with Putin’s permission. This is a softer control than China’s. Russia keeps a very close watch and it is largely permitted only to the properly connected to own and trade it.

However, the issue is not a matter of what, but why. To most alert people, the obvious case is China and Russia are both non-democratic societies. China is a totalitarian society where a party cadre controls every aspect of life. Russia is the foremost authoritarian kleptocracy on earth. With that in mind, who would you prefer to run things: an open democratic society with at history of largely advancing human freedom and prosperity or a combination of the totalitarian society and authoritarian kleptocracy?

I have to say again, I very much appreciate Andrey’s candor. The irony is Andrey’s and all the Crypto and Decentralists preference is for the Matrix to win.

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