BTC is not CBDC, otherwise I'd agree. BTC will always be an alternative option to the fiat and CBDC beast system which is de facto mandatory. I'd take decentralized digital over centralized physical anytime.
It's only a fork away though. That's the thing. And between BlackRock, Coinbase and the US Government it's pretty easy to force that fork to be the accepted one.
They aren't going to just let people freely use a non-sanctioned currency instead of theirs. And they need a digital-only currency to enforce the control grid.
That's why people talk bad about BTC. It is a backdoor way of tricking people into a CBDC-equivalent.
Seems like a stretch. Normies will adopt CBDC without such elaborate deception just like they always do. BTC nerds will reject forking into CBDC because that would defeat the initial purpose of BTC which is to have decentralized, anonymous and limited money on a public ledger. I know I will. If BTC is ran to the ground so be it, there was always risk involved. But I'm not switching to CBDC if the choice is given.
It shouldn't seem like a stretch. Maybe you misunderstood what I meant by "one fork away". Bitcoin and all cryptos are constantly being updated. Big new forks are released regularly. As they are released, once a majority of nodes adopt the fork it becomes the new mainline.
I wasn't saying it will forked such that ownership goes to a central bank or something like that, I'm saying there will be forks that introduce all of the same track and control functionality that CBDCs are built for, and that BTC will be used in place of a CBDC for the purpose of the control grid.
It's already happened several times where governments have forced extremely popular cryptos to add in functionality to be able to blacklist specific wallets of those they determine to be "terrorists".
That will absolutely come to BTC. There is zero chance it won't. Slippery slope from there to social credit scores.
There won't be an option to "reject" these forks. Businesses will be required to only perform transactions on the approved network. Any fork network will be considered supporting terrorism and you will be fined, shut down or imprisoned.
This isn't far fetched. This is how government control has worked for many, many decades, and it will be extended to digital currencies in the next few years.
Also, BTC is not anonymous. I hope you don't think it is. Be careful how you are using it. The only way to be anonymous is to only use BTC ATMs or purchase directly from other people, and even then there are cameras or deliveries of online orders, etc. Any use of banks or exchanges and you are now linked to every transaction you make.
And the "limited money", the same fork probability exists there. There has already been a ton of talk, in the mainstream, of how BlackRock and Coinbase and others could easily remove the 19 million restriction in the future.
One last point, I think you underestimate the number of people that don't want to give up cash and the anonymity it offers. Sure, 70% will give in to fully digital currency, just like the vaccines, but they need the deception to get to a critical mass of 95% or so.
I wasn't saying it will forked such that ownership goes to a central bank or something like that, I'm saying there will be forks that introduce all of the same track and control functionality that CBDCs are built for, and that BTC will be used in place of a CBDC for the purpose of the control grid.
I don't think the basic infrastructure of BTC can be changed to accommodate the needs of a CBDC. First, once all BTC is mined no new money will be introduced in the system and second it will remain a decentralized, public and open source network, unless One world technocratic entities (governments and corporations) manage to amass most of the BTC.
It's already happened several times where governments have forced extremely popular cryptos to add in functionality to be able to blacklist specific wallets of those they determine to be "terrorists".
That's why I don't argue in favor of cryptos in general but for BTC specifically.
This isn't far fetched. This is how government control has worked for many, many decades, and it will be extended to digital currencies in the next few years.
They said that about torrents 20 years ago and here I am still pirating most of the stuff I use. Seems like the government doesn't fare well cracking down P2P networks.
Also, BTC is not anonymous. I hope you don't think it is. Be careful how you are using it. The only way to be anonymous is to only use BTC ATMs or purchase directly from other people, and even then there are cameras or deliveries of online orders, etc. Any use of banks or exchanges and you are now linked to every transaction you make.
Sure. At least you acknowledge it can be anonymous because I've debated people here on this.
And the "limited money", the same fork probability exists there. There has already been a ton of talk, in the mainstream, of how BlackRock and Coinbase and others could easily remove the 19 million restriction in the future.
This sounds like fud talk. It's probably a campaign shills run to scare people off BTC and into "safer crypto" which is CBDC of course. Similar to the IMF worrying about El Salvador adopting BTC because it would lead to financial instability. They will cancel their loan too because of it. There's definitely a smear campaign against BTC ran by the central banks.
One last point, I think you underestimate the number of people that don't want to give up cash and the anonymity it offers. Sure, 70% will give in to fully digital currency, just like the vaccines, but they need the deception to get to a critical mass of 95% or so.
There are two many ifs and so far nothing has been done in that direction. Once things start happening I may take the "BTC is a stepping stone to CBDC" more seriously. I am well against digitalization and I don't even use a smartphone so I'm very skeptical to begin with but it's all conjecture and fearmongering so far.
BTC is not CBDC, otherwise I'd agree. BTC will always be an alternative option to the fiat and CBDC beast system which is de facto mandatory. I'd take decentralized digital over centralized physical anytime.
It's only a fork away though. That's the thing. And between BlackRock, Coinbase and the US Government it's pretty easy to force that fork to be the accepted one.
They aren't going to just let people freely use a non-sanctioned currency instead of theirs. And they need a digital-only currency to enforce the control grid.
That's why people talk bad about BTC. It is a backdoor way of tricking people into a CBDC-equivalent.
Seems like a stretch. Normies will adopt CBDC without such elaborate deception just like they always do. BTC nerds will reject forking into CBDC because that would defeat the initial purpose of BTC which is to have decentralized, anonymous and limited money on a public ledger. I know I will. If BTC is ran to the ground so be it, there was always risk involved. But I'm not switching to CBDC if the choice is given.
It shouldn't seem like a stretch. Maybe you misunderstood what I meant by "one fork away". Bitcoin and all cryptos are constantly being updated. Big new forks are released regularly. As they are released, once a majority of nodes adopt the fork it becomes the new mainline.
I wasn't saying it will forked such that ownership goes to a central bank or something like that, I'm saying there will be forks that introduce all of the same track and control functionality that CBDCs are built for, and that BTC will be used in place of a CBDC for the purpose of the control grid.
It's already happened several times where governments have forced extremely popular cryptos to add in functionality to be able to blacklist specific wallets of those they determine to be "terrorists".
That will absolutely come to BTC. There is zero chance it won't. Slippery slope from there to social credit scores.
There won't be an option to "reject" these forks. Businesses will be required to only perform transactions on the approved network. Any fork network will be considered supporting terrorism and you will be fined, shut down or imprisoned.
This isn't far fetched. This is how government control has worked for many, many decades, and it will be extended to digital currencies in the next few years.
Also, BTC is not anonymous. I hope you don't think it is. Be careful how you are using it. The only way to be anonymous is to only use BTC ATMs or purchase directly from other people, and even then there are cameras or deliveries of online orders, etc. Any use of banks or exchanges and you are now linked to every transaction you make.
And the "limited money", the same fork probability exists there. There has already been a ton of talk, in the mainstream, of how BlackRock and Coinbase and others could easily remove the 19 million restriction in the future.
One last point, I think you underestimate the number of people that don't want to give up cash and the anonymity it offers. Sure, 70% will give in to fully digital currency, just like the vaccines, but they need the deception to get to a critical mass of 95% or so.
I don't think the basic infrastructure of BTC can be changed to accommodate the needs of a CBDC. First, once all BTC is mined no new money will be introduced in the system and second it will remain a decentralized, public and open source network, unless One world technocratic entities (governments and corporations) manage to amass most of the BTC.
That's why I don't argue in favor of cryptos in general but for BTC specifically.
They said that about torrents 20 years ago and here I am still pirating most of the stuff I use. Seems like the government doesn't fare well cracking down P2P networks.
Sure. At least you acknowledge it can be anonymous because I've debated people here on this.
This sounds like fud talk. It's probably a campaign shills run to scare people off BTC and into "safer crypto" which is CBDC of course. Similar to the IMF worrying about El Salvador adopting BTC because it would lead to financial instability. They will cancel their loan too because of it. There's definitely a smear campaign against BTC ran by the central banks.
There are two many ifs and so far nothing has been done in that direction. Once things start happening I may take the "BTC is a stepping stone to CBDC" more seriously. I am well against digitalization and I don't even use a smartphone so I'm very skeptical to begin with but it's all conjecture and fearmongering so far.