I would say crypto is backed by a little more (energy input) than what fiat is backed by (literally nothing) but I agree PMs are final way. I believe crypto is being used as an sort of stalking horse to move pieces into place until the final blow can be dealt.

"its a fuckin honey pot."

Bingo.

One made by Patriots. It was marketed ten years ago through comms as a way for criminals to buy and sell "pizzas" or other crimes. The lure of BTC was its anonymity. Just like the lure of Enchrochat was the lure of being able to openly discuss their criminal activity without the use of comms. Comms are a pain especially for the more low-level ones.

"Tell people its unregulated and anonymous and watch the fuckin dummies commit crimes with huge paper trails.

Boom. You got it.

Now what really scared the hell out of them about bitcoin? April 27th, 2021:

https://www.wired.com/story/bitcoin-fog-dark-web-cryptocurrency-arrest/

"Most remarkable, however, is the IRS's account of tracking down Sterlingov using the very same sort of blockchain analysis that his own service was meant to defeat."

"The case shows yet another example of how Bitcoin, once widely believed to be a powerful tool for making anonymous, untraceable transactions, has turned out to be in many cases the very opposite."

Uh-oh. Bad news for the bad guys.

"With blockchain analytics the thing we say over and over is that all this activity is on this ledger forever, and if you did something bad 10 years ago you can be caught and arrested for it today," says Meiklejohn. "The fact that they're pulling up those transactions is really significant."

Sounds like a trap. Rats took the cheese and are now in the traps. These people are really stupid. Trump said "We caught them all".