CBDCs would enable a dystopian future of monumental proportions 🧵 \ stacker news ~bitcoin

CBDCs would enable a dystopian future of monumental proportions 🧵nitter.at/kudzaikutukwa/status/1602728185250172928

47 sats \ 6 comments \ @cryptocoin 3 Jan 2023 bitcoin

25 sats \ 3 replies \ @TomK 3 Jan 2023

The good thing is that usually bureaucracies, central banks and state actors are not able to implement complex structures in vital societies. The level of disconnect could protect us and give us the time to opt out before they will be doing even greater harm to our economies. Maybe financial markets and sovereign debt bubbles will burst before the introduction of CBDCs.

25 sats \ 2 replies \ @chungkingexpress 3 Jan 2023

I think about this a lot and I guess we have maybe a ~24-month head start from now. They will push this through with single-minded dedication as from their perspective CBDC is the only thing that will save their currencies. They will push just as they did with the vaccine and the lockdowns, even if it destroys them in the process.

1 sat \ 1 reply \ @TomK 3 Jan 2023

I think there is very high probability that they will use a kind of lockdown again to push down money velocity again to inflate even more. But really I have a hard times to imagine how they could implement a cbdc technologically. Look at their track record....

1 sat \ 0 replies \ @chungkingexpress 3 Jan 2023

I don't think they can do it either. I have written about this in other posts about what is happening with the CBDC trial in Australia, but the whole premise of closed-source CBDC is going to fail vs open-source Bitcoin long term. This won't stop them from trying though and destroying the world along the way. This comes back to Cory Klippsten's "The Race to Avoid the War".

0 sats \ 0 replies \ @cryptocoin OP 3 Jan 2023

The link for this post uses a read-only front-end for Twitter, which can be easier to read for viewing a full Twitter thread. The Tweet that kicked off the thread is:

#CBDCs are a huge threat to individual financial sovereignty and would enable a dystopian future of monumental proportions. A short 🧵 to understand why this so 1/

0 sats \ 0 replies \ @cryptocoin OP 3 Jan 2023

After posting this I see the article for the last Tweet in the Twitter thread has been shared already, here on SN:

The Battle For The Future of Money: Bitcoin vs. CBDC’s #56188 https://lookingglasseducation.com/the-battle-for-the-future-of-money-bitcoin-vs-cbdcs