Forget that Reuters is the news source of the link above - though it bears mentioning that the owners of Reuters do have an agenda regarding cryptos. But that agenda is subject to change, interpretation and unknown motives. Any day now, we could see a news story about said motives. But it could be pure propaganda ... just lies and misdirection ... to "move" a futures prediction ... from which a profit is derived.
What is stark in the article is the image of nine or so fans, adapted to the task of cooling CPU heat generated by the mining of Bitcoin ... as a chosen figurative representation of Bitcoin. One can imagine rows and rows of them arranged on racks in some Bitcoin mining technology complex, which created construction jobs, new "Bitcoin fan" start-ups, and an entire micro-economy dedicated to the absurdly ridiculous and technologically inefficient oxymoron of "mining" artificial money.
What we CAN know, is that any man made money has a weak link. It is "made by man". And if it is made by humans, it can be used to exploit humans. Or ... did you think that the "crypto exchanges" are a form of artificial intelligence, that acts independently - yet has human imperfection built in and thus acts to "steal" from humans ... just as humans do? Sorry, we're not there yet, but maybe someday.
No, we can't trust each other any more than we can trust the banking system, we are all human. What we CAN trust is human nature, because human nature is "natural", as in the natural, physical world which we are essentially born into, and inescapably a part of .
Nature gives us gold, the money that man has tried to create for thousands of years ... but cannot. He has to dig in the ground for it. Nature gives us oil as well. We have to dig for that too. Nature gives us the physical world, the physical energy to manage it and the physical money to account for it, and our human "nature" attracts us to the evolved memory of gold's appeal, value and utility as a trading unit for physical products and services.
Nature gives us the physical world, which we cannot by our very nature escape, even though we are creatures of great imagination, and we happily escape to the fantasy of "debt as wealth" over time.
In these fertile grounds people escaped reality with the New Idea of long term debt, being held as a money asset. Yes, here was born the American Experience that comes to maturity today.As our trade wars evolve, our artificial debt-money will begin to make less and less sense. We will begin to realize certain answers, as thoughts change. If these currencies have no "natural law" behind them which governs their nature (predictability, reliability, stability) then they can be used against us. They can be used to deceive or abuse us (exorbitant privilege anyone?) and even harm us (sanctions anyone?). How can they have value, as compared to gold, which deceives no one, which harms no one, which can never be used as a systemic, monetary weapon.
Is the view coming into focus yet? It will. For certain countries, that view is becoming sharper each day. But what are a few measly countries compared to the system? Oh, it is more than a few ... and growing.
Our physical world. Dependable. Natural. It is the underlying asset upon which our artificial world is derived through hypothecation. Today, many still cannot see the difference between the two. If one still cannot, I suggest perhaps reading or re-reading the last four posts.
Our artificial money is the key, both the digital currencies of the existing exchange rate complex, and our new artificial cryptos, some of which retain the trace memory of physical "mining" as they grasp for credibility. When certain thoughts begin to change about this artificial system, you will see the monetary paradigm shift. And when that happens, our entire reality shifts.
Try to be there when this happens, and in a favorable position, preferably.