“People would learn to trust the new money only if they were confident it was completely exempt from any government control.”
— Friedrich Hayek
Discussion
Which is why Monero has gained so much traction. Many exchanges have banned Monero, but they all accept Bitcoin. This gives the impression that even though the government cannot control either one, it can and does track everything you do with Bitcoin and is therefore the preferred money of governments for their slaves. Obviously CBDC is the "long con". Maybe first transitioning to KYC Bitcoin will gain mass adoption. If enough people adopt KYC Bitcoin it will dox non-kyc users by default and/or make it trivial to flag non-kyc Bitcoin on a "terrorist watchlist". After other bearer instruments like gold and cash are overtaken by Bitcoin, makes it much easier to then transition everyone by force to CBDC in the long term?
Just playing devil's advocate here.
Monero?
It's difficult anyone to imagine Monero as uncontrollable money as long as the hashrate is so low.
It is happening
There are many, many slow learners…
Like nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqpp4mhxue69uhkummn9ekx7mqpr4mhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet5tm8sjr has said, we don't want to work for money that another man can print.
Those closest to the money printer benefit the most.
If there is one thing I can take away from my Bitcoin education it is this.
Politics will not solve the wealth distribution problem. It's baked into our fiat money system.
Yes, yes, I know I'm preaching to the choir. It still feels good to say it though. :-)
When and where did he say it, cant find a refernece