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Digital Dollar Inevitability, And Why It Will Be Here Sooner Than You Think – What It Means For Bitcoin



Digital Dollar

What to expect in this article?

      Ingenious setup put in place by the government to introduce digital dollar

      Two parts strategy to introduce digital dollar you should know

      Why introducing the digital dollar will be essential to keep the economy going?

      Why will this be a good thing for Bitcoin and few cryptocurrencies?

Nerds dream and capitalists reap. There is no bigger cluster of capitalists than in the US.  

Blockchain and digital currency are one of the wettest dreams of the nerds and now the capitalists from the Capitol itself are going to reap the benefits of that dream.  This is how the dream of anarchists is going to, yet again, hand the reins to capitalists.

Zero interest rates – ingenious set up to introduce digital dollar

Zero Percent Interest ratesZero interest rates are the first step to a digital currency set up. 

How? You may think.  

It’s quite ingenious really: when you cannot lower the interest rates below zero – you make keeping (saving/hoarding) cash in the bank account burdensome and make it impossible to hide the money.  When people are penalized/charged for keeping money in a bank account and when they cannot hide it – they end up spending it. 

Spending stimulates the economy.  Stimulus checks stimulate the economy for a little while but a whole country going on a spending spree because it is expensive to ‘keep’ money will stimulate the economy to new peaks.

Executing this digital dollar stimulation is a two parts strategy – pay attention.

Part one: In general, when banks start charging fees to keep our money in the account – we’ll take it out of the bank and shove the money in a mattress or buy precious metals and then shove them somewhere. 

Here comes part two that involves making the money impossible to hide by making it digitally traceable so that its every move is traced, tracked, tagged and taxed. 

Premise for the Execution: Health is the new patriotism

The US Congress has already tinkered with the idea of the digital dollar in the first draft of the stimulus bill, however, they dropped the idea on the final version.  So we know that it is in the works.

To introduce a nationwide digital currency mandate – the government may use health as the primary reason.

Health will be to Digital Dollar what patriotism was to the patriot act. 

health moneyHere is how it might be presented: Physical money is spreading the COVID-19 (or some other) virus and we need to shut down the entire paper money from circulation ‘to protect our people’.

You might think that such a thing would never happen.  Government may never shutdown paper money.  

Think again. 

India had demonetized their 500 and 1000 denominations overnight in 2016. Many people who were ready to make deals the next day using their big bills were left with color paper which became useless overnight.

And, India is primarily a cash economy.  

Cash to GDP in India is 11% vs. 7% in the US.  More and more people in the US are going cashless. Even those who carry cash only carry a small amount in their wallets and what exists in their banks is in ‘digital form’ anyway.

Adding a health stigma to the already dying paper money will make it easy to ‘put it to sleep’.

Conditions are ripe for a total take down of ‘hard-cold-paper’ money.


Execution will happen in phases.  We speculate that taking entire economy cashless will involve:

PHASE ONE: Limit on withdrawals: whenever the date to go digital is declared we anticipate a limit on withdrawals from banks.  There will be no point of going digital if everyone simply takes the money from the bank. To curb this issue, there may be limits imposed on how much money you can take out in a day or week or a month.

PHASE TWO: demonetize the bills:  Those who thought they could take their money from the banks and stash them in their mattress will be forced to bring those bills back to the bank when the bills are declared ‘illegal tender’.  If a country like India where a major part of the economy runs on cash can void its currency overnight then a country like the US can definitely do it.

PHASE THREE: window to exchange your paper money with digital dollar Once the bills are declared useless – people will be given the opportunity to deposit their ‘bills’ back into the banking system. Only this time, bills so deposited back will be destroyed and converted to digital dollars. During this window, governments across the world will be able to surrender their US Dollar bills to local US embassies (or other representative agencies/banks) in exchange for digital dollars.

PHASE FOUR: taking care of the elderly:  Those who are at a certain age and protest this move from paper money to digital currency will be given few choices in our view.  One, senior citizens may be exempt from the digital currency mandate. Or, two, they may be special digital dollar cards (similar to debit cards but loaded with digital dollars) that will be loaded with the spare change every time the elderly transacts at a store, thus facilitating a slow conversion of their paper money to digital form.

PHASE FIVE: All systems go: even with 80% of the paper bills in circulation converted to digital dollars – all systems will have been put in place to move forward.  At this point, every single digital dollar will be easy to trace, track, tag and tax, in real time

The US Dollar is already digital, how is digital dollar different?

US dollar digitalIt is true that most of the US dollars in existence today exist as a mere digital number in the financial system.  However, people can withdraw the money in paper bills. Once money goes into circulation as paper currency – it is almost entirely impossible to track its movement. 

Almost all illegal activities take place only in paper cash.

When there is ‘no choice’ of paper currency and when every digital dollar in existence is traced through immutable technology (like blockchain) then those who exploited the system will find it difficult to circumvent it.  If we can stop the spread of diseases in the process, well, that’s a bonus. 

We also anticipate that the new digital dollar will have following features:

Technology backed (blockchain or similar DLT based tamper proof technology)

Portable to transact directly over private messengers (like WhatsApp/Facebook/etc.,)

Digital dollar will be platform agnostic, that is, it will be seamless to track its movement over multiple platforms.  For example, movement from bank to a messenger and then to a foreign bank, etc.,

Every wallet that holds the digital dollar will add to the network strength making it almost impossible to hack with any amount of money

Advantages of digital dollar

in favor of bitcoinHere is a short list of benefits from introducing a digital dollar that can be traced, tracked, tagged and taxed in real time:

 Avoid circulation of germs and viruses through contact of paper bills

 Transaction level tax system to impose and collect taxes in real time

 Curb the illegal activities that heavily rely on paper cash

 Curb money laundering and tax evasion

 Seize accounts of perpetrators in real time

Disadvantages of digital dollar

against bitcoinNot everything is rosy about the digital dollar.  There are some pitfalls:

Undue power vested in the government, what happens when few bad players in the government take advantage of the system?

When every dollar can be traced, tracked, tagged and taxed in real time – what happens with the data collected on citizens of the country?  Who will guarantee that data will not be used to manipulate people

In a capitalist society, can we really trust private institutions (like banks) to play by the rules?

People will lose alternatives

Why is it good for bitcoin?

bitcoin-gift cardsOnce the digital dollar is created and mandated, the government may be able to monitor spending habits of its citizens. Whether the banks and private agencies will get hands on these spending behaviors, and if so, how will that be used will not be known until some scam makes the headlines.

Those who care for their privacy (and are not committing criminal activities) will want alternatives.  

Obviously, precious metals cannot be used for daily transactions but you can use bitcoin and cryptocurrencies for daily transactions. The ability to use bitcoin and cryptocurrencies to transact will actually work in bitcoin and crypto’s favor when digital dollar is rolled out.

Advantages of bitcoin (and other cryptocurrencies) over digital dollar

in favor of bitcoin  You do not need a bank or third party to hold your own bitcoin

 It cannot be seized by governments or banks

 You can participate in transactions without someone mining your data

 Helps secure privacy

Disadvantages of bitcoin (and other cryptocurrencies) compared to digital dollar

against bitcoin Bitcoin does not have a lot of history backing it

While most cryptocurrencies (including bitcoin) can be tracked, some private cryptocurrencies are almost impossible to track and criminals may turn to these alternatives. This in turn will make the case against crypto stronger

Less than 1% of global population actually uses bitcoin (or other crypto) and that means number of places where it will be accepted will be limited

Will the government create its own digital dollar?

We expect that the government will develop a private blockchain based system that is not open to the public.  A collaboration between IBM (Hyperledger), Federal Reserve and major banks will likely be in the cards for this rollout.

We do not anticipate the government to tie up with Facebook’s Libra project.  If they do – well – it’s shameful and blatant disregard to public interest.

We can see Coinbase playing some role.

Can Coinbase stand to gain with digital dollars?

There is an off chance that USDC from Coinbase will stand to gain traction acting as the bridge between crypto space and the digital dollar.

Coinbase has all the right infrastructure, connections and good reputation to form the alliance.

Will digital dollar be the end of crypto as we know it?

We think that the cryptocurrencies whose only value proposition is ‘transfer of value’ will probably bite the dust since people will rather trust a government backed digital dollar than a private cryptocurrency.

Bitcoin should hold its own.

Projects that develop a great utility on their platform might keep their crypto standing intact.

Government issuing digital dollars based on blockchain (or DLT) will be a great stamp of approval to the legitimacy of the technology and should help boost the space. Digital dollar will make many crypto projects obsolete. Those that stand on their own will thrive.

best Crypto Tax Software

Thank you for reading and sharing this article. Stay safe and healthy!


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Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.



6 Massive Benefits of Cryptocurrency



Benefits of Cryptocurrency

It is normal to be hesitant about using cryptocurrency as the medium of financial transactions. 

There is a school of thought which believes, it is a domain suitable for criminals, fraudsters, and terrorists. Cryptocurrencies allow them to maintain anonymity for discreet transactions and ransomware scams.

However, the increasing acceptance of Bitcoin as a digital currency has initiated a positive perspective around this mode. It brings a distinct set of pros for the users, making them overlook the risks tag along.

According to the Finder, a post on social media surfaces about Bitcoin every three seconds. If we do the math, it means 1203 posts pop up per hour, making it to 20 posts per minute.

A more general view on the crypto landscape speaks of its overall growth, too. Block Social tells us how cryptocurrency exchanges around the globe have exceeded 300 during 2020.

In fact, the success of crypto shows us the loopholes of the traditional banking system. If you, too, want to leap on this bandwagon and aren’t sure about your next move, this is the right place. Our blog sheds light on the positive aspects of cryptocurrency that make it a more established form of financial trade. 


1. Easy transactions

When dealing with brokers or legal representatives, you have to pay the transaction fee from time to time. This comes along with immense paperwork, commission, brokerage charges, and so much more. Using cryptocurrency eliminates the need for a middle man. The transaction changes into a one-to-one affair taking place on a secure network.

No wonder Forbes stated that adopting blockchain technology can save financial organizations around $12 billion yearly. A deduction of extra charges from third parties and reduced operations cost is saving millions for huge organizations.

Moreover, the transactions are transparent, making it easier for you to establish audit trials. There is no more confusion over who pays whom. All parties involved in the transaction know each other quite well. Accountability on each party grows.

2. Asset transfers

A financial analyst rightfully describes cryptocurrency blockchain to be a “large property rights database.” On the one hand, it helps execute and enforce two-party contracts on commodities such as real estate and automobiles. At the same time, it also facilitates special modes of transfer. 

As per Born2Invest, Bitcoin alone is responsible for an average of 350 000 daily transactions on the Blockchain. Meanwhile, Coinbase has 30 million cryptocurrency users (Block Social). The increasing figures of each crypto speak of its acceptance worldwide.

The parties involved in asset transfer can design contracts and add third-party approvals at a later date. It also helps to reference the external facts and gives the parties exclusive governance of their account. It reduces the time and money involved in asset transfers. Perhaps this is why US federal government spending on Blockchain shall reach $123.5 million by 2022.

3. Confidential transactions

Cryptocurrency purchases remain discreet. Unless a user voluntarily publishes his transactions, the purchase is never associated with their identity. In official scenarios, such as when you put your cars for sale, the parties must reveal an association with their cryptocurrencies. It helps to establish trust and relevance.

Within the cash/credit system, your entire transaction history turns into a reference document for the banks/credit agencies involved. On the contrary, cryptocurrency is a transaction that is a unique exchange between two parties. They can negotiate and agree on preferable terms. The information exchange takes place on the “push” basis. This means you transmit only that which you wish to send to the recipient and nothing else.

It keeps your financial history secure and guards you against identity theft. Chances of which are quite high under the traditional transaction system. 

On top of this, the combination of Blockchain with IoT is considered revolutionary by the experts. This has accelerated data exchange, lowering the operation costs, and improved the security of files. Your Tech Diet predicted that 75% of the IoT industry would adopt Blockchain technology by the end of 2020. Lack of exposure is, thus, something the entire industry is looking for.

4. Transaction Fee

You have probably faced hefty monthly account statements from your bank/credit companies. The transaction fee charged at every transaction you have made might leave you shocked. The whopping fee of multiple transactions can take you by surprise at the end of each month.

In the case of cryptocurrency exchange, the data miners receive their share from the cryptocurrency network involved. Transaction fee does not apply as the remote and separate computer systems that do the number-crunching get a pretty fair share. 

According to Investopedia, the Bitcoin reward for miners halves for every 210 000 blocks added to the chain. Nonetheless, this system has freed the transaction parties to pay the fee, making it the most feasible. 

However, there might be some external fee involved if you engage a third-party management service to maintain the crypto wallet. These charges are likely to be quite less than the transaction charges levied by the traditional banking system. 

5. Hold Ownership

The traditional banking system works in a manner where the amount goes to the nominee if a person passes away. The chances of the account closing are quite high when you infringe the terms of their services. Unlike this framework, digital currencies give you the sole ownership of private and public encryption keys. This makes it easier for you to identify the encryption network.

6. High security

Once a party authorizes the cryptocurrency transfer, they cannot reverse it. This is not the case in “charge-back” transactions allowed by the credit companies. Cryptocurrency gives you reliable encryption throughout the transaction process to keep it protected from bugs and malicious entities.

Systems like Binance Smart Chain are enabling people to do more with BTC.

Final Thoughts 

Cryptocurrency is taking the financial world by storm, and we know the reasons why. It is about time you kickstart your digital finances journey and make the most out of it. Who knows what surprises are about to come later in this landscape!

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020


Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Cardano or PolkaDot? Which One to Invest In?



Cardano vs Polkadot

There is a new battle in the crypto space.  Cardano (ADA) and PolkaDot (DOT) maximalists are headbutting as to which project is better and why.

The conversations are intense to say the least and we will try to provide our view on which one we are leaning toward and the reasons why, in this rather short article.

Just to be clear, we are invested in both ADA and DOT so we have a vested interest in both projects, however, we are now asked to pick one over the other and that brings us to this article.


The whole spirit of cryptocurrencies is the concept of decentralization, however, some of the more popular projects don’t seem to have a grasp of what that means.

Diem (previously Libra) or XRP etc., are controlled by a group for validators who could, in theory, easily collude, in our view.

With DOT, things are not as centralized as some other projects with about 1000 validators securing the platform.

However, ADA has the most number of nodes and has most of its circulating supply staked on its wallet. The community behind ADA has biggest proponents of decentralized frameworks.

ADA: 8 (top 10 is reserved for BTC)

DOT: 6


Cardano boasts the maximum number of Ph.Ds on its team and has a more decentralized team structure.  You have teams that are working exclusively on wallet and staking while you have other teams focusing on interoperability. Yet, another team is focused on bridging projects from Ethereum to Cardano.

DOT has the ammunition of Gavin behind it. He is undoubtedly one of the brilliant minds in the space. 

However, as we learned in basic math, sum total is always greater than an individual unit.  This applies more aptly with these projects. In our opinion, Cardano has a greater edge when it comes to collective human capital.

Having Charles Hoskinson helps ADAs impression.

ADA: 8

DOT: 6

Social presence

There is no competition when it comes to social presence and engaging the community when it comes to the leaders of these two projects.

While DOT’s founder Gavin might come out as eccentric and polished in the social media, Charles takes the cake in engaging with his audience and making things sensible for the community.

ADA: 9 

DOT: 7

On a mission

Whenever you hear Charles speak about ADA you will immediately understand that he is on a mission to bring the marvels of blockchain enabled financial services to all corners of the world.

Cardano’s team is now focused on the South Africa continent to bring the under-previleged onto the world commerce through their platform. They are even close to signing a contract with Ethiopia government in 2021.

While DOT is catapulting the entire space forward it just lacks the same charm that comes with a project on a grandiose mission.

ADA: 8

DOT: 6 

Miscellaneous considerations 

Market cap: ADA has $20 Billion market cap while DOT has $19 Billion, as such they are on par with each other when it comes to valuation. The large cap is a stamp of approval from the crypto community.

Price: ADA is at around 60 cents while DOT has been stabilising at $20 at the time of this writing. When the newbies come to the market and they see they cannot afford Bitcoin or Ethereum, they will most likely go after the projects that are under $1. This does not mean DOT is inferior, it is just an edge that low priced tokens have over higher priced projects. It’s just a newbie mindset that drives higher demand during bull runs to lower priced projects.

Inflationary supply

DOT has an inflationary supply model while ADAs supply is capped.

Yes, DOTs supply is far larger than DOT, however, there is no new minting on ADA when compared to DOT.


DOTs technology is operational and is onboarding projects already.  ADA is scheduled to launch its mainnet this month (Feb 2021). ADA has been in works for many years now and if their product matches the hype and the wait – then it may not matter as much that they are late to the party. However, if there are issues with their mainnet – it may not bode well for ADA.

Conclusion: Total score

ADA: 33

DOT: 25

If you are a DOT fan you might think this score is skewed.   If you are an ADA fan you might think it should score perfect points in all fronts.

In fact, there are some areas where DOT is a clear winner like having a functioning platform. ADA, in our opinion, takes the prize with clear fandom, gigantic mission and a total brainiac project. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020


Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Best of the Best YouTube Channels to Follow for your Crypto Fix



Best Crypto Youtubers

There are literally 100s of crypto-experts on YouTube who claim to have cracked the secret code that can make you millions in crypto riches. 

Who should you follow?  

We have followed many YouTubers, subscribing and unsubscribing to avoid the noise and after having been in this space for over 4 years, we have narrowed our favorite crypto YouTube channels to just a few.

In this article, we will show you our favorite YouTubers and what we like about each one of them. 

Overall number 1: Coin Bureau

coin bureau When it comes to deep analysis, composed demeanor and outright professional crypto channel in the entire space, we have not come across anyone better than Guy.  

Not only is he great at the reviews and in depth analysis, if you have followed the channel long enough you will realize that he reviews the gems long before others pick on the momentum.  

He picks solid projects, never shills a shitty project to his followers and is upfront about his views which he backs up with solid research.

This is the best no-shill and no bull crypto channel on YouTube in our view.

Best original content: Chico Crypto

chico crypto review

If you love a bit of quirky, goofy and somewhat out there viewpoints on the crypto space then there is no one better than Tyler at Chico Crypto. 

His investigation stretches the boundaries of research (and sometimes common sense) but he does do a bang up job on every video.  

I am yet to come across a boring video on this channel.  I will admit that his live streams can be a drag sometimes but his followers seem to relish his presence.

You may not like or agree with what Tyler presents on this channel but you will absolutely be floored by the originality.   

Best TA: TIED: Crypto Capital Venture & Tyler S

                         Crypto Capital Venture Tyler S crypto

With under 90K subscribers at the time of this writing, Dan may not be the most popular of the Crypto channels [yet] but his TA analysis is just so easy to follow.

Dan makes it easy for non-technical folks to understand what’s going on in the market in the language of TA.

There are other folks on YouTube who are good at TA but their videos are so obnoxious that they leave you with a massive headache.  

Not Dan’s Crypto Capital Venture channel.   Dan walks you through the markets in such a calm, composed and professional manner that you might start caring about those candles.

We are forced to share the Best Title for crypto TA on YouTube with Tyler S. 

Tyler’s expertise on TAs is quite awesome and he has a funny way of delivering it too.  

Best expertise on the markets: Alessio Rastani

Allesio RastaniIt doesn’t matter if you are just lurking around the crypto markets or if you trade in the traditional markets…Alessio is one of the best guys on YouTube for great insights into the broad market and its impact on Crypto.

While everyone on YouTube (not the people on this list, of course) is either quick to FOMO or FUD, Alessio is just grounded in fundamentals and technicals.

When you are high on FOMO, he can bring you to the ground.

When you are getting buried in FUD, he can lift you up with facts, not false hopium.

Alessio is personable, professional and an honest guy to follow to understand the markets ahead of others.

Best round up of the market: AltCoin Daily

Altcoin DailyWant to stay up-to-date on what’s happening in the crypto space but don’t have time to keep up?  

Fear not. AltCoin Daily got you covered.

This channel is just a gem among the channels that bring crypto market updates in a concise and palatable format.

You can sense the dedication in the way Austin brings the updates and his opinions in front of his audience. No wonder the channel has recently hit over 420K subscribers.

Best humble and honest take: Crazy 4 Cryptos

Crazy 4 crypto

What does Crypto mean to you?

Most people will say ‘Freedom’, yet, most of the YouTubers we see on the Tube will be broadcasting from their bedrooms or backyards (nothing wrong with that) but not Dave.

He has been in Thailand and streams his videos directly from the beach.

You will immediately connect with his simpleton style and honest reviews.  

He has been touting about Theta when it was trading in cents and now those who followed him are very happy.

Besides Theta, Dave talks about a lot of topics in terms of storing your coins, being careful with people and how to have a long-term plan in space.

Honorable mentions

Team Underground (TA)

We had too many channels to weed out for the TA category and that is why we had to pick two winners, however, Team Underground is a channel we cannot skip.

This underdog channel has been more right about the calls than any other mainstream channel. If you like your TAs and technical side of crypto – be sure to check this channel out.


People either love him or hate him.  There is no middle ground when it comes to BitBoy.  

Personally, we have to weed out a lot of noise while browsing through his channel since he picks a new project every few days (or weeks) and can become overwhelming. 

However, the fresh content is worth the watch.


The guy behind this channel is truly vested in the space. So much so that he recently launched his own crypto project.

It’s definitely refreshing to see the YouTuber taking his expertise into a live project.  

The reason we did not list this channel on the BEST list is because of the constant feed of projects he pitches that is a bit overbearing for our taste.  

Nevertheless, a great channel and great recommendations.


There are 100s of YouTube channels out there but not everyone is worth your attention. We hope you found some channels of interest through this article.

Note: if we missed any gem of a channel, please let us know and we will be more than happy to add it after review.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020


Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading