Generally agree.

BTC has been usurped by the banks and quarantined as a traceable store of value. The peer to peer use case has been a failure outside of niche micro communities (so far).

The strategy was always to control and KYC the on/off ramps and they've been quite successful with this. Maxis cheered this process on as their bags appreciated.

The genius act is the successor to Kissinger's highly-successful petro dollar scheme. It will expand international demand for dollars and treasuries - both essential to keep the USD system afloat. Frankly, it's genius.

This also creates a de-facto CBDC system. All genius-compliant stablecoins (including Tether and USDC) can blacklist any wallet with a single phone call. No due process necessary. Most dont even realize this, as sanctioning wallets will continue to be extremely rare until the system has established hegemony.

As you said, there will be two competing systems - gold backed and BTC "backed." Both will be defacto CBDCs. This will trend towards a bipolar world order (vs. multipolar).

I see this as bullish for BTC price, but bearish for humanity. There's significant potential for conflict as the two systems wrestle for hegemony. This will be the Layer 0 battlefield of the 21st century.

Even more concerning is how disempowering the Stable Coin Digital Currency (SCDC) system will be for everyone but the controllers of the smart contracts' private keys and the AI chainalysis operators. Orwell's dystopia seems quaint in comparison to our current trajectory.

So what can the plebs to?

1) Don't give up cash money without a fight.

2) Buy Bitcoin AND physical gold (hedge your bets).

3) Develop parallel economies using P2P BTC

4) Develop and promote private BTC layer 2 and payment systems

5) Shift from BTC maxis to privacy maxis

6) Normalize Monero and integrate into #3