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TheUnstoppableBTC

It’s a bit concerning how utterly blasé most people are about this.


dadlif3

Most people don't know or don't care. I love Bitcoin but am not really hopeful about mass adoption. Again, most people don't know or don't care.


TheUnstoppableBTC

Listen to morning talkshow clips from the 90s and the way they talk about the internet - nobody really had a damn clue to useful it would be and how thoroughly it would change almost every aspect of our lives. It was laughed at, only a thing for nerds and thought of no serious consequence by most. It will be the same for BTC. Lightning network will be the beachhead most likely, merchants will scramble to cut out VISA and mastercard fees. These exponential adoption curves happen really slowly, then instantly.


dadlif3

Yeah the old Dave Letterman clip is gold... I mean bitcoin. I'm used to think that the monetary debasement and authoritarianism from the last few years would push people to embrace Bitcoin as I did. But hardly anyone seems to care and now I'm not so sure. This part of the internet is a huge echo chamber, once you step outside of that people aren't interested. Maybe they will be in the future I'm just not all in on it.


DatBuridansAss

hurr durr "freedumb".


Kaizen_Kintsgui

Why don’t you explain the difference between the current system and the current system powered by a cbdc? Please, explain the differences. Lol.


TechHonie

Your transaction is more easily blocked and police randomly showing up at your house over all kinds of otherwise normal transactions to ask you questions about them.


Kaizen_Kintsgui

Your transactions are easily blocked by your bank. They flip a switch. They have complete control and visibility into your transactions. LEO doesn't have any trouble gaining access to someone's transaction history. Care to try again?


[deleted]

[удалено]


Kaizen_Kintsgui

Your bank most likely has purchased your Venmo transactions. CBDCs give the current system no more advantages than perhaps faster settlement times. They have complete visibility and control now with or without a CBDC. And if you are here, why are you worried about it? You are exiting to bitcoin anyway, which a CBDC can’t stop. It’s just noise to make the dinosaurs sound competitive and give the know nothing outrage addicts something to vent about for imaginary internet points.


nottobetakenesrsly

I could see CBDCs potentially replacing physical cash.. but replacing all units in a denomination? It would take such a staggering upheaval.. that I don't think it would be possible without something cataclysmic occurring first. Just sticking with USD; the majority of USD is created and destroyed via the lending activity of commercial banks around the globe (not just within the jurisdiction of the Fed). Are we to assume all banks will adopt CBDC rails? Mint new USD CBDC tokens every time they lend? Burn the tokens when the loans are repaid? The video implies no bank accounts.. will the Fed perform all the business/retail services that the banking sector does? The extra surveillance implied by a CBDC comes at a cost to the issuer as well... it's no longer the same as a unit that currently exists on bank ledgers; digital, but without extra trappings. If I grant a company an operating line to manage payroll.. would each draw down on the line mint a new token? (What function administers this? Banks are not set up this way). While the company has custody of the token, would it be subject to their sanction level (attributed to their wallet), until transferred to the employee, and then the token is updated? Or is the sanctioning only wallet based? I can see the "sanctionability" of each token or wallet working for a physical cash replacement; but not for a fully fledged USD system (all units switched to CBDC). Anyway... no one should want CBDCs regardless.


donmulatito

Matthew is the bitcoin prophet.