@grok tldr please summarise the video
Discussion
Here's the gist: China's digital currency (CBDC) is reportedly failing nationwide. Adoption is low, people prefer existing payment systems, and technical issues are rampant. The system’s collapse is seen as a win for privacy and a blow to state control. Check the video for details—sounds like a mess.
There’s mounting evidence that the narrative of convenience was just a facade for control. Normal merchants are seeing their accounts frozen for “suspicious activity” when their businesses are booming. Elderly people are denied medicine because they try to pay in cash etc etc. It’s good to make a deep dive. Lots of implications for Bitcoin.