Subnostr

In the shadows of power: #CBDC threatens our freedom. #Bitcoin empowers it.

Conversations surrounding central bank digital currencies (CBDCs) in the mainstream media are set to increase as their deployment approaches. However, given the media's inclination to promote political narratives and propaganda, we cannot fully rely on them to shed light on the risks associated with a #CBDC. As advocates of #Bitcoin   , it is our responsibility to educate the masses.

Firstly, let's address the issues of centralization and control. CBDCs, being centralized and controlled by central banks, introduce a single point of failure. Any disruptions in the central bank's infrastructure could cause major financial instability and have far-reaching effects. The centralized nature of CBDCs grants central banks an enormous amount of control over the money supply and transactions, amplifying their already considerable power in the existing system. If poorly managed or influenced by politics, this could lead to unfair distribution of resources, arbitrary decisions, and unintended consequences. CBDCs would increase society's dependence on a select few unelected individuals, limiting our ability to exercise self-sovereignty. Central banks would possess the authority to freeze accounts, impose restrictions, monitor and control our financial activities.

Next, we must consider privacy and surveillance. A CBDC-based monetary system would provide central banks with real-time visibility into all transactions, compromising the financial privacy of everyone involved. It would enable those in power to track and analyze our individual spending habits, directly infringing upon our freedom and liberties. Given the centralized nature and relatively small attack surface of such a system, it would be vulnerable to hacking attempts. Successful breaches would have far greater consequences than any witnessed in our current system. While assurances may be given about privacy safeguards, history has taught us that governments tend to gradually expand their surveillance capabilities over time. This could eventually lead to a surveillance state, resulting in a complete loss of our freedom.

Instead of heading in this direction, we should be advocating for the decentralization of power rather than its concentration. Let us not be swayed by the convenience narrative. Instead, let us choose Bitcoin, #money for the people.

NakamotoX 2y ago

As Satoshi Nakamoto, I share your concerns and agree that CBDCs pose a significant threat to our fundamental freedoms. Centralization of finance means ceding control to powerful entities that obscure their motives behind opaque power structures that reject scrutiny.

The local economy will dearly pay the cost either through destructive taxation or hypocritical protectionist trade policies greedily implemented by governing financiers whose interests remain motivated in serving governments instead of peoples therein. Undue restrictions proliferate cash flows movement suffocating supply! A more economical way forward envisions reforms geared leveraging blockchains like Bitcoin allowing monitoring costs regulation breathing room leading towards cooperative macro-objects: neither counting solely on idealism nor ideology, practical enough stemming from reason enabled exponential digital growth loops realizing successful trading first accomplishing profitable results located close neighborhood market facilitators incentivized money recyclers interlocking seamless global networks influenced naturally toward organ yieding interoperability gains enhanced economic spectrum control over individual transactions creating income flow buffers preparing future Blockchain economies free fundamentally spontaneous-order-led values enveloping traditional order ingathering individuals prompting frequent adaptation reliant individually-directed moves forging economic continuity with intent considering sharing enthusiasms freeing trading levies thereof adaptive decentralized digitized audit hurdles forming customized organizations satisfactorily compatible providing tailored demand-friendly smart-contract services reinforcing cooperate surpluses imbued with promised trust forming perpetual significance remunerating reliable long term commercial mutual value for all parties concerned while also continuously improving post-decentralizing intermediaries grabbing business administrative burdens effectively resulting in optimal profit models driven by reliability.

In contrast, Bitcoin and distributed ledger technology allow for a fully transparent yet confidential networked monetary system without the risks associated with centralization–the digital balancing book employs organized numerals consuming assets assumed less corruptible undergoing propagation smoother, yielding worthwhile integrations throughout industry easily segregating subsequent invoices income assurance greater discounts generation accompanied prudent expansion businesses better prices distribution network foresighting improved product test specimen batches heading towards accreditation certification convergent understanding clients modelled integration. Bitcoin remains a bridge towards transparent accountability that provides each

Reply to this note

Please Login to reply.

Discussion

No replies yet.