I hope you are right. 🧡🤞

CBDCs have the POTENTIAL to be severely abused by governments.

Private banks have more consolidating to do yet. When there are only a few, large banks left, the fascism, (indeed the Protectionism already exists) will make "private" a technicality.

Technically the US Federal Reserve is private.

Banks are already colluding with people like Elizabeth Warren.

Bitcoin IS hope.

But we must not get complacent either.

CBDC btfo'd by the UK already? https://www.gov.uk/government/news/free-access-to-cash-protected

Very much disagree with this, it’s a pretty naive take.

- Australia’s CBDC was outsourced to the private sector, mostly the banks, and it’s successfully passed the pilot phase - so much for not giving up their debt creation, they’re working hand in glove with central banks

- Privacy doesn’t override shit for normies. I’ll just point to Snowden’s revelations as evidence if any is needed. If CBDCs are tied to UBI they will jump in head first with no consideration for the implications on privacy and only later look for outside routes when they understand reality.

- We always had gold as a sovereign currency, no-one used it because it wasn’t fit for purpose in the digital age. Sovereign alone isn’t enough, it needs to work for what people/institutions want to use it for.

- There are already functional cross-border CBDCs (Singapore-China) and others have been successfully piloted (read BIS)

- Digital Currency already exists in every fiat system. It’s not that different to a CBDC, that’s just amalgamating them into a unified system.

If post WW2 monetary order was a design choice, what makes you think they’ll make a design choice for something they can’t control? Listen to saifedean or Lyn discussing the uptake of fiat / exit from gold standard in WW1 - once one nation went they all did because game theory effectively forced them to as you can’t win a war against a money printer if you don’t have one yourself.

We’ve got what, 1 country which has decided to take the hard route of getting out from under the IMF and they’re not even done yet - everyone else just keeps sucking that teat. Even Milei is going begging to them.

We’re not going to see CBDCs on Bitcoin-backed fedimints - this is delusional.

Bitcoin will be used but not in this way. It will be the hedge system between the USD world and the BRICS world for countries that can’t/wont go all in on either and simply occupying that position will see it eventually eat both (not Gresham’s law - you’ve made the common mistake of inverting it). It will also form the black market currency for individuals for any transaction people want to make outside the government’s purview which initially just replaces cash but will eat all the usecases they try to impose their dystopia on.

To say you’re unafraid is fine. I’m not afraid of money either. But I see what they’re trying to achieve and given there is no greater prize than control of the money (per Rothschild himself) I think it’s pretty shortsighted to just claim this is “doom-circle-jerk analysis”.

They ARE playing for sheepstations, they’re not going to fuck this up coming from incumbency against a rebel network with 1% uptake.

Bitcoin will win eventually but CBDCs are coming and freedom is going when they do.

Agree with the premise. You may enjoy the below as it touches on the system choices of the 1940s, how that broke, and why #Bitcoin, cell, and internet technologies in 2023 solve many of the issues of the 1970s. (and 40s).

SDRs were effectively a failed attempt (due to tech) at what Bitcoin provides.

Today more than ever, the world needs money that is interoperable and connected (integrated).

https://open.substack.com/pub/kanemcgukin/p/bitcoin-is-global-money-for-an-interconnected?r=99ex&utm_campaign=post&utm_medium=web

Great notes right there. Optimism, skepticism, hope, belief, and other stuff.

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What is worth considering & following closely is what 99% of sheeple will do, that can be lethal short/medium turn…

Long term & for smart individuals who know how to navigate shit I do agree :-)

Tend to agree, the current digital fiat system acts like a CBDC anyway. All their goals are achievable through their misaligned system, so replacing it with a CBDC will in all likelihood just speed up the process to the eventual outcome. Socialism will inevitably fail and there will be a snap back. If CBDC do arrive, there will be opportunities, the same crowd will happily comply and they can have as much of mine as they want. Ps the CBDC debt is going to be awesome BTW

what if banks are facing the same situation as weavers at the birth of industrial fabric production?

the luddites were literally weaver terrorists

imagine how much more epic banker terrorism is gonna look

Thats not a CBDC, what you’re describing is Bitcoin-backed currency, and agree that’s a better implementation of state currency than CBDCs.

Always appreciate your objective view on Bitcoin's future, potential and also weaknesses. You're a gem for Bitcoin industry

My country is about to collapse, and I’m prepared to leave- their CBDC’s won’t be my problem

Thanks for the optimism. Feels good

Keep in kind one important thing is always taken for granted by the majority of bitcoin proponents (and critics) today, especially talking about “post WW2” and stuff — violence

CBDC... Central Bank .... private? You might be hoping for bank coins, but CBDCs are not that.

What private banks want is not important to c. banks - once the infra and "dire need" for a cbdc is in place, every bank will become a branch of the central bank. Mandating taxes be paid with cbdc will force everyone to open a cbdc account.

There's no free market in the banking industry.

CBDC has literally the word "central bank" in is name.

Of course I am afraid of Marxist shit being forced on me - again.

This is what we believe.

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There is no “final victory” for Liberty against Tyranny. It is an endless vigil.

The tyranny is a parasite inside our human subconscious- it festers and after any defeat immediately begins plotting its return, watching for any weakness- for the chance to invade.

When the nightwatch of Liberty fails and the wolves are inside, then the battle occurs with much loss among the women and children. It should never have been allowed.

The victorious men hang their heads in shame for a moment- and the fire of the vigil is relit.

If you look at the EU "digital wallet" it's actually primarily a certificate wallet. I.e. access control to things. You need it now for resume/CV application, dirvers licenses, soon other certificates.

In some countries you already have a hard time getting public services without those digital certificates. Soon that single repository will be used for things like housing access, differential interest rate, likely gov money/subsidies soon as well. Refugees often have to use it for all kinds of things already. It's a carrot and stick approach. If covid happened today it would be used for EU wide access control and money drops.

Money (and the broader credit system) is a coordination mechanism. Much of that function can and is being replaced by certificates, algorithms, etc. Price setting of commodities and industrial goods hasn't been market driven in decades. Differential subsidies and bailouts has lead to differential interest rates and therefore real prices.

Thinking of CBDC as a money equivalent is unimaginative at best.

This is the way

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While I understand the importance of banking and specialization in general and that blockchain can probably scale only to do something like a daily bank swaps I don't understand why I should choose a government (or CB) as a custodian. They betrayed us once and the will do again.

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Programmable CBDCs are the death knell of freedom. Tied to whatever whims the issuer says, people will be slaves and totally controlled. Along with Govts being less accountable as they have passed control to unelected feudal overlords there will be zero representation for anyone . The Nations without borders plan further amplifies this dystopian reality and with the WHO’s horrendous pandemic treaty, AI decision making and HAARP / DARPA freak tech weaponry it ain’t looking like a fun place

I see BRICS nations using Btc very soon they already have problems having too much of each others currency, BTC is the only viable option.

However you are underestimating the populous’ attraction to convenience and the powers at be’s will to subjugate the population.

Banks are already coming up with solutions so they can continue fractional reserve banking with cbdc.

Good points, just don't Have to lead with a divisive doomed circle jerk comment. Just something to think about