It's not axiomatic that crypto is the right path forward. Crypto is like Meta before we had Meta -- the only reason we need Meta is that the very same "elites" who are building Meta are interposing in real-space and increasing the transaction costs of real inter-personal interactions. They are increasing costs so much that there is virtually unlimited demand for a virtual meeting space to escape the IRL social hurdles. But of course, that is jumping from the frying pan into the fire and I think just about everybody on this forum understands that.
The primary reason we need crypto is to escape devaluation of fiat, and the financial-surveillance system which is really a wealth-prison. Crypto does have other legitimate use-cases that would exist even without fiat devaluation -- micro-payments, smart-contracts, etc. But there can be no doubt that the reckless devaluation of the dollar is chasing people into crypto and creating an absolutely artificial bubble. It is, as Trump says, extremely dangerous. It's safe to say that 90+% of people in crypto space are quite young and have never once been through a boom-bust cycle. I lost 50% of my wealth in the dot-com bubble -- fortunately, I was young and it was only in the 5-figures, but still, it was an enormous setback for me.
I'm not anti-crypto, but Trump isn't wrong, here. The US dollar was originally defined as a silver Thaler and later was defined in terms of gold weight. We need to go back to $1 = 1 ounce of silver or some other natural hard-money standard. I think that a huge proportion of Americans agree with Trump that American money should be denominated in dollars. But we need to return the dollar to a hard physical standard. If we don't, this Meta/crypto/VR/augmented-reality weirdness is only going to grow and grow as consumers and investors flee the burning ship like rats trying to escape the flames of inflationary devaluation.
