[Note: The following content is purely speculative and humorous; please take it as a joke.]
A friend previously couldn't understand why digital currencies led by Bitcoin are so crazy?
Now Bitcoin is approaching a market cap of $2 trillion!
Elon Musk pushes Dogecoin, and in the blink of an eye, it's $60 billion!
Sun Chenyu's Tron coin is now close to a market cap of $20 billion!
The greatest value of this thing is that it provides some international transfer and money laundering.
With this little effect, can it have such great value?
It's important to know that the total market cap of hundreds of digital currencies has now reached $3 trillion, 220 trillion yuan!
What does this concept mean?
This has already surpassed the GDP of the vast majority of countries in the world.
China's GDP only surpassed $3 trillion in 2007.
A level that more than a billion people have worked hard for over 50 years to achieve.
These digital currencies, which do not create particularly valuable outputs; just speculate on them, and that's it.
What difference does this have from the Dutch tulip bubble 400 years ago?
It seems there is no essential difference.
It is just something that has no particularly practical value, yet can be supplied infinitely; yet it keeps generating wealth and soaring day by day.
But the difference is that digital currency has the essence of a tulip bubble; yet it shows the conspiratorial flavor of the Mississippi and South Sea Company bubble's 'debt conversion'.
300 years ago, the European monarch Louis XIV was waging wars everywhere, owing a 30-year national debt.
The British counterfeit financier John Law urged his grandson Louis XVI to issue paper money to speculate on Mississippi Company stocks.
The stocks of the Mississippi Company were speculated hotly, then bondholders were allowed to 'exchange' bonds for stocks at a 'low price' for 'arbitrage'.
Once all those bonds are exchanged for Mississippi stocks, the stock price collapses overnight; then the national debt from 30 years of taxes is 'paid off' like this.
The British nearby couldn't help but use the South Sea Company to play the same debt conversion trick, eventually sinking Newton's life savings.
What is America doing now?
I can almost be certain that they are absolutely preparing to replicate the debt conversion conspiracy of the Mississippi and South Sea Company bubble from 300 years ago on top of digital currencies.
There have been rumors that Bitcoin's creator Satoshi Nakamoto is Japanese.
Yet no one has seen Satoshi Nakamoto to this day.
Satoshi Nakamoto is most likely an American fabrication to divert attention.
Americans should have figured out how to pay off their national debt when the mobile internet era arrived ten years ago—by launching digital currencies and speculating on them.
Finally, the old conspiracy of debt conversion of the Mississippi and South Sea Company from 300 years ago is coming back:
Allow U.S. bondholders to exchange Bitcoin and other digital currencies at a certain discount for 'arbitrage'.
Everyone exchanges U.S. bonds for digital currencies, and in the end, the U.S. bonds disappear—indirectly paying off the debt with digital currencies.
As for digital currency, this thing is just like tulips; as much as you want, and the production cost is equally low.
The idea that Bitcoin is in short supply is a huge lie.
Beyond Bitcoin, one can infinitely replicate Bitcoin No. 1, Bitcoin No. 2, Bitcoin No. 3… Bitcoin No. 10,000, Bitcoin No. 100 million…
Digital currency absolutely does not have the truth of supply and demand imbalance.
Of course, in the short term, huge funds concentrated on speculating on a few currencies will be in high demand.
Just like concentrating funds to speculate on Mississippi Company and South Sea Company stocks to create a bubble.
Currently, these digital currencies have a market value of $3 trillion, compared to the $36 trillion national debt of the United States; it is still just a 'small bubble'.
It still needs to be speculated on, heavily speculated.
Inflate the total market cap to $30 trillion, $50 trillion, or even $100 trillion.
Among them, the United States holds one-third of the market cap.
That is $10 trillion, $15 trillion to $30 trillion in digital currency.
Give U.S. bondholders a 5%, 10%, 15%, or even 20% discount to exchange for these digital currencies for 'arbitrage'.
The United States recovers and destroys national debt, while bondholders get digital currency to sell for arbitrage or suffer losses.
The United States achieves economic development through borrowing, ultimately envisioning a beautiful prospect of easily paying off debt by speculating on currencies.
This set of logic is coherent, and all doubts are resolved.
I have to say, this is indeed a shocking game!
Although it frankly reveals the conspiratorial flavor of the earliest three major bubbles in human capital markets, the wealth creation in the early and mid-stages is indeed real.
Now it is very likely still only in the early stages.
America's goal is very likely to use currency speculation to at least 'repay' $10 trillion of debt.
This requires at least inflating the market cap of digital currencies to $30 trillion, ten times the current basis.
Moreover, they will seek more application scenarios for digital currencies, making this new version of the tulip bubble appear more realistic and credible; delaying its burst as much as possible.
Digital currency will ultimately be a wealth creation myth and slaughter of a tulip bubble.
Again, it's the astonishing scheme of the Mississippi and South Sea Company bubble 'debt conversion' initiated by the United States.
