The value of any currency is based on trust.

The value of any currency is based on trust. Trust in the Government Banking institutions, and regulators has taken a big hit, not to mention the damage done by sanctions. More and more, it seems like we are caught up in a winner-takes-all battle for what currency will control the world.

What government and regulators miss is that regular people only care about day-to-day survival, money helps them do that. When currency stops doing that, they will turn to something that does. Bitcoin is well-positioned to fill the void if USD collapses.

Trust in the FED's failed management of banks and investors or trust in rules established in clear transparent code that everyone has access to inspect and understand. It's math; 2+2 will always = 4, so no regulators are needed, and no politicians can change the math.

When money becomes code (not just digital) the velocity changes, and the nature of audit changes. We see that in the current banking issues, a snapshot in time (quarterly or annual audit) did not highlight the fragility of the banks that are threatening the economic stability of the world. Audit needs to become constant transparent monitoring because money is fluid. There are no more dark corners where convoluted instruments of speculation (CDOs) understood by nobody can serve as a way to cheat the system.

Bitcoin can serve the marketplace and allow civilization to continue without the control of any particular nation-state. Then if somebody wants to have a war they will have to ask nicely for people's trust.