Amidst government bigwigs hanging out with the WEF at the G20 summit in Bali, and WWIII talk trending on Twitter, cogs are turning in the US…
This 12-week program will work with banking institutions such as HSBC, Mastercard, Wells Fargo and more to test the viability of a CBDC (central bank digital currency).
It begins. https://t.co/B67nUuP242
— Edward Snowden (@Snowden) November 15, 2022
Bitcoin is money governed by fixed rules, not rulers.
A CBDC is money governed by rulers with absolute control over ever-changing rules.
But what’s the worry? After all, most money is already digital; I can’t remember the last time I used cash…
but what happens to my daily life if I dont commit any crime. It basically stays the same? I’m already 100% on credit card / apple pay
— Alex (@on_ap_) November 15, 2022
Over time it means a reduction in choices and a frightening level of control for a select few.
The market consists of millions of people making decisions based on their own data and incentives… the fiat money systems already twist these incentives as everyone makes decisions based on money creation and its effects… but a CBDC could control these individual decisions absolutely.
Contrary to mainstream thinking, Bitcoin offers the exact opposite of a CBDC… the user is in full control and the system has full transparency.
Can one live while the other survives?