Topic: Can CBDC users lose control of their money? - page 2. (Read 1005 times)

If they are deceiving us then we also refused to be deceived because we know what we want, CBDC is not bitcoin or cryptocurrency, one can only call it along to be a digital currency but this time, CBDC is a digital fiat while bitcoin a digital decentralized currency in cryptocurrency, government controlled currency cannot be as volatile as cryptocurrency, that controls and authority government has over the use of fiat is what led to people seeking for alternative means with bitcoin in cryptocurrency so they can control their own currency.

It's just a name/label.

But what do you propose, frankandbeans? That development should have no order, no organization? Are you proposing those developers from Bitcoin Unlimited, Bitcoin ABC, and BCash should be given authority to commit code to the main repository? To the same people who tried to co-opt Bitcoin and fork it away from the Core Developers? That's a very funny joke, ser.

Banks only want to try to imitate cryptocurrencies, but with the distinction of being able to control these digital assets, and although this may seem appealing to people because they can use it legally, in the end, they will be exposed to not being able to manipulate them when they want or how they want. . The point here is that we cannot compare CBDCs with cryptocurrencies, especially bitcoin, just because they use blokchain, since they are totally different, their first distinction is that one is centralized and the other is not, therefore, even though they want to promote your project and deceive more than one, intelligent users who know that financial freedom without any intermediate is much better, will not use it. And for obvious reasons, if they could lose control of their digital money, nothing in the hands of the government or in the event of the banks, it is safe from being stolen overnight just because they want,  the security in  these system  not that good.

"core devs maintaining" is not decentralisation.. even their brand name debunks your theory
CORE=CENTER

core(2014-18) was blockstream managed, whom received hundreds of millions of dollars. this money was not random generous donations from hoards of random individuals. its was a structured investment deal from corporations ..

also the community did not decide.. all user nodes did not need to upgrade to vote. the "backward" trick ensured the community didnt need to decide. but for the false vote of UASF, they did not even achieve a 20% vote

instead it was cores sponsors (NYA) that made the decisions and that also relied on a MANDATORY activation method.. dont play dumb now.. over many topics you have been shown the charts of the blockdata flags which reference what caused what. dont play ignorant or forgetful.. the blockchain is immutable it cant be edited to fit your silly narrative nor anyone else's.. the data is the data.. the best source there is.. use it

its better you use data of the immutable blockchain and code as a source, not your social drama buddy group to put gas into you and then fear someone else burning you when others enlighten you

again its time you do your research

have you even bothered looking at blockdata, code, the sponsors, hyperledger. if not then you are not great at seeking the connections and data.

learn something, escape the gas chamber then you wont get gaslit or burned.

I have to be honest, I remember back in 2004 and following years we started to use Facebook as well. Sure it wasn't like how it is today, today it's much more wider and a lot more people use it, but I remember clearly people around my age found out about it and they ended up doing something like facebook where they shared all their information from face pictures to where we went to what we think to our birthdate and everything else.

Think about it, people really didn't know what to do and that's the problem. I hope that people realize that it's not going to be that easy but should be important to see where it's going to lead and we didn't and this resulted with things go further and now we have the tiktok age where kids use that instead.

 

There goes frankandbeans again, purposefully taking my posts out of context, and gaslighting the public into believing that I'm the villain and he's the "Anti-Hero" saving Bitcoin from the "Evil Core Developers".

Laughable.

Everyone just needs to look and read the comments in your trust rating to know what you actually are. You're a fiend who never actually cared for Bitcoin, what the community decided during the scaling debate, nor for the design decisions made by the Core Developers to maintain decentralization.

Of course there would still be bitcoin and perhaps other alt coins as well. I think the government, seeing how bitcoin has and is still going on strong despite some strong measures that has been put in place in order to prevent its adoption and usage, decided to create these CBDCs perhaps to rival the dominance of bitcoin in the near and distant future.
If/when the era of printed money is nearing its end, then perhaps citizens would then be mandated and left with little choice than to adopt the use of these CBDCs for their financial transactions.

Even if we are mandated to use CBDC, there will still be cryptocurrency. If CEX is destroyed, there will still be DEX. Of course, things may become more complicated than they were in the early days of cryptocurrencies, but everything is surmountable if you approach the issue in the right way

So true. Even today's young people don't seem to care too much about privacy. In fact, they prefer to share their private lives on social media. So of course they also won't care about a system that actually exposes their own financial privacy. Because from the beginning they did not care about financial privacy. And we also probably won't be able to avoid not using CBDC in the future. Because it is possible that physical fiat will become increasingly rare and one day it may even be withdrawn from circulation. But for now CBDC is just another option. So we can still avoid it. But with Bitcoin we can still store our assets safely without having to worry about our privacy.

I think having cold hard cash is far better than CBDCs. Admittedly, both are more or less the same but with CBDCs, you literally have very little to no control over your funds. The control you think you’ve got over your money is the one the government allows you to have. And even that could be revoked at any time as the government could decide at any time to disrupt, end or limit your purchasing power.
I wouldn’t fault anyone that’s seemingly “wasting time” on CBDCs. If the apex bank of any country in compliance with the government decides to implement CBDCs as a mode of payment, citizens of the country would just have to use it.

CBDC are created for internal control and, of course, will not be used for settlements between other countries. This is a replacement for national currencies. For example, it is impossible to pay with the Turkish lira anywhere in French Polynesia, because the laws of each country state that the only legal tender in the country is only the national currency. In Turkey, the lira, in Polynesia, the franc, and so on. That is, I assume that in each of the countries in the future there will be CBDC-TRY, CBDC-CFP and the like, which will be in use only in one particular country of their origin.

And if we talk about a single and global CBDC (it is impossible to predict whether there will be one single global CBDC at all), then this adoption should be delayed, because of:


as you say. It will not be easy for countries to agree on this, and perhaps the result of this will be a digital dollar or euro, and maybe the yuan (or some other currency).

CBDC is thesame thing as their fiat which they have dubbed to also appears in digital form and is not cryptocurrency, the same right government have over fiat notes they also possess on every user of CBDC, why then should someone waste time on them when there are many opportunities that lies with the adoption of bitcoin Which is a decentralized digital currency everyone wants to have for an investment and digital cryptocurrency to use for their payment and store of value.

just a shame when such people as yourself then want to tell people to lock up that self sovereign currency. to then go play with another network of middlemen that is the sandbox network design of most CBDC(blockstream were not paid hundreds of millions of dollars out of donated generosity.. it was a sponsored investment by the institutions to want to get a prototype they can use(research hyperledger-blockstream.. hyperledger-CBDC))

ill give you a few years to ponder that in a shower.. but this time clean your head and really rinse your head of all the stuff thats been put into it .. dont use your favourite branded shampoo, (emphasis on the sham.. and emphasis on the poo)

What's bad for the people's freedom to transact actually increases the need for financial assets that are built with censorship-resistance and permissionlessness in mind to help the individual become more ungovernable and self-sovereign. We can't just accept tyranny to rule over the world, no?

If only there was such an asset invented.

You say that CBDC is better than cash because it's cheap to make and helps prevent tax evasion... This is some strong left propaganda that I'm reading, worthy of an authoritarian socialist.

On one hand we go green, no more trees being cut and all that crap, except that money isn't made from paper... On the other hand we control the money flow, know what you buy, where and when. If you by any chance decide to go against us, you'll have your money taken away. No more protesting or you'll have to beg for food and even others won't be able to send you money because we'll block your personalized account. They'll have to buy food and give it to you.

CBDC is in serious breach of basic human rights to privacy and being able to support whatever parties and organizations they choose.

The main question is how to resist the introduction of CBDC?  Now they are doing it cautiously, but later they will force CBDC application, especially in budgetary spheres. And budgetary employees today make up more than half of the working population

Control is the sole reason they're launching the CBDC. They have seen that Bitcoin will make it very difficult for them to control the financial life of people so they created something else
What I find funny is that CBDC is just a centralized Bitcoin. It's funny because they criticize and fight Bitcoin with all they got only to create a copy for themselves.
There is absolutely no reason to trust CBDC over Bitcoin, no reason whatsoever.

CBDCs are just enhanced fiats, it's no doubt better than fiats and it would help to checkmate some the recurring issues in the financial sector. For example, there are no fake CBDCs so the issue of counterfeits would be put to bed, it would help to cut down the large budget or expenses needed to print cash and would also come handy in checkmating tax evasion. Aside the above mentioned point, I don't really see much it has to offer. CBDC is centralized, thus it's going to be used as a tool by the authorities to manipulate the masses. With CBDC, you are not in custody of your funds, the government can track, freeze or transfer your digital currency at any time.

CBDC certainly has the limits and control or supervision of government financial institutions, so if the CBDC comes from washing and or detected in the activities that are prohibited in the country, of course the government can block its CBDC, because the concept of CBDC is more scary than Fiat, in the article of Fiat We can still use it with a secret because there are no traces of anyone's hands, or traces of transactions.
It is quite possible that someone who has CBDC, they can lose its control.

But what is the power of someone who does not understand this financial concept, will always adopt it easily.

Privacy is still a strange thing to many people, what people are more concerned about in this day and age is to make a lot of money and then brag to everyone that they are rich instead of trying to hide it. So it is not surprising that they will quickly adopt CBDC without any resistance.
Quite frankly, privacy has only become a concern for us in recent years, to be more precise, since the advent of bitcoin. Therefore, only bitcoin users know to truly value their privacy.
I also didn't like this from the very beginning when I heard about the concept of a government CBDC, but CBDC will be something we can't avoid, it's inevitable because the government knows its benefits to them.