Crypto doesn't save you. The government at least needs to pass a law to monitor your bank transactions; they don't need to do shit to monitor the blockchain. With most, if not all, cryptos, all of your transactions are public record.
The only thing crypto has going for it is anonymity. But if you, you know, use your wallet for anything, it will be linked to you. If you get paid in crypto, it will be linked to you. If you spend crypto, it will be linked to you. If you get paid in one wallet, but send it to another wallet to spend, those two wallets will be linked and they might as well be the same wallet.
Sure, the government won't be able to seize your crypto, but they can do a whole lot worse. And as crypto becomes more and more mainstream, it becomes more and more centralized, so they'll even have control over that. They may not be able to take your crypto, but every business will use one of a few "processor" services, that they can prevent from allowing your wallet.
Exactly. Ironically, in many, many ways crypto currency is far less private. Put aside government surveillance for a moment. Let's say I send some money to a coworker or friend to buy a game from him. He goes home that night and gets bored, so he decides to look through my wallet's transaction history for the hell of it. He now can see that I sent some money to PornHub's wallet, the value of my weekly paychecks, and the money I'm sending to his sister's wallet for some reason.
Even if I transfer money to a separate wallet before paying him, all he has to do is look at that wallet's transactions to find my real wallet, then we're back at square one.
Then not only will they see every bank account but every transaction, decide who can trade with who, expire your FedCoins, set individual interest rates, pay UBI on "30 days spend it with approved partners or lose it" and things no one has imagined yet.
Is there a way to invest in crypto without using a bank?
The only reason I opened a bank account was to invest in crypto, and every time I buy crypto I can only do that by first depositing money into the bank account.
I guess by doing it in increments of $500 or less they'd never know?
Crypto doesn't save you. The government at least needs to pass a law to monitor your bank transactions; they don't need to do shit to monitor the blockchain. With most, if not all, cryptos, all of your transactions are public record.
The only thing crypto has going for it is anonymity. But if you, you know, use your wallet for anything, it will be linked to you. If you get paid in crypto, it will be linked to you. If you spend crypto, it will be linked to you. If you get paid in one wallet, but send it to another wallet to spend, those two wallets will be linked and they might as well be the same wallet.
Sure, the government won't be able to seize your crypto, but they can do a whole lot worse. And as crypto becomes more and more mainstream, it becomes more and more centralized, so they'll even have control over that. They may not be able to take your crypto, but every business will use one of a few "processor" services, that they can prevent from allowing your wallet.
Exactly. Ironically, in many, many ways crypto currency is far less private. Put aside government surveillance for a moment. Let's say I send some money to a coworker or friend to buy a game from him. He goes home that night and gets bored, so he decides to look through my wallet's transaction history for the hell of it. He now can see that I sent some money to PornHub's wallet, the value of my weekly paychecks, and the money I'm sending to his sister's wallet for some reason.
Even if I transfer money to a separate wallet before paying him, all he has to do is look at that wallet's transactions to find my real wallet, then we're back at square one.
Central Bank Digital Currency aka The Fed Coin.
Then not only will they see every bank account but every transaction, decide who can trade with who, expire your FedCoins, set individual interest rates, pay UBI on "30 days spend it with approved partners or lose it" and things no one has imagined yet.
Is there a way to invest in crypto without using a bank?
The only reason I opened a bank account was to invest in crypto, and every time I buy crypto I can only do that by first depositing money into the bank account.
I guess by doing it in increments of $500 or less they'd never know?