Dave at X22 Report has been speaking about how cryptocurrency will also be used to "being down the Fed.". He says " everyone understands digital currency. "

Let me be the first to dispute with my bold statement that I do not understand digital currency.

I understand barter, where one guy needs some bread, and a baker says I'll give you bread if you'll wash dishes for me for an hour per loaf. Labor exchanged for bread.

I understand how the "coincidence of need and provision," makes barter difficult such that a common currency of exchange is needed.

I understand that historically, we had a currency in the US that was at first backed by the gold standard, then changed to be a fiat backed by a promise or trustworthy government. Paper was issued so that people would know how much each person had and could reasonably make agreements of exchange of goods and services.

I understand that there is a limited supply of gold and paper money, and that this amount is measured and tracked...though not audited.

Here's what I don't understand about digital currency:

1. How much of it is there in the universe right now?

2. Who is responsible for creating and destroying it?

3. Who sets its value?

4. How is this value protected against fraudulent use?

5. How are the uneducated and uninformed protected from those who would prey on their ignorance with regard to digital currency?

6. Will the digital currency accounts all be audited and reconciled?

7. Is it sufficient to have digital currency, or as with digital ballots, are paper back ups required?

8. Who resolves disputes regarding errors in understanding of digital currency "balances"?

9. What happens if one's access to his digital currency is prevented by the digital currency controller, as like what has happened on digital social media?

10. What happens if weather causes power outages like what is happening now in some sections of the US? Will digital currency adapt? How?

I've got more questions that quite clearly illustrate that I don't understand digital currency.

Therefore, respectfully, Dave X22Report guy, because I really enjoy listening to your viewpoints, I think your statement that "everyone understands digital currency" is wrong.

Ps. I don't recall Q mentioning cryptocurrency bringing down the Fed.