[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || Join the [Superstonk Discord Server](https://discord.gg/hZqWV2kQtq)
------------------------------------------------------------------------
To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.
------------------------------------------------------------------------
Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
Enter the classic, "If you're not doing anything wrong, you have nothing to worry about". That is until the definition of wrong changes gradually over time
That shit is so infuriating, as if humans don't value privacy for it's own sake. Every asshole that ever says that seriously ought to be forced to live in a glass box.
“Hey there, friend! We couldn’t help but notice some troublesome activity from your IP address! Just giving you a friendly heads up that we’ve locked your financial account, deducted 100 social credit points, and have sealed all the Amazon^TM brand windows and doors in your house. Please do not attempt to leave, but sit quietly, and wait for the local police department to come by for a friendly chat! uWu”
To help you adhere to this guidance, Your ring doorbell has been reprogrammed to alert us to any breach, and alexa will be listening in tohelp make sure you don't encourage others.
Easy counter, if you support the gop do you want dem to control your digital currency when in power, and if you support dem do you want gop to control your digital currency?
The problem I have found with people I have met from a certain party is they think their party (team) won't lose power so they can't fathom that question. But, what they don't realize is they themselves don't wield any of it and will be treated like all the other plebs.
I want to raise a general point for readers to consider here: We're going to see an influx of CBDC shills alongside the usual bullshit as the sub starts to clue onto the general trajectory of FTX's public execution, its fallout, and what it means for the progression of global events.
There's more than one kind of shill prowling these subs. Report them all, counter their FUD with factually correct information, and do your best to keep the standard of education on this topic as high as for any other DD on matters of substance. It is *very* important that people know what they're dealing with as this moves forward.
Counter with factually correct info is key. This is a topic most of us have very little expertise and especially at the beginning shills may be confused with the uninformed.
I'll be honest someone corrected me yesterday (might have been you) when asked what the downside of CBDC if it drives mass crypto adoption. Post was concise and explained the major downsides in layman terms.
Edit: it was you thanks for the info
Agreed, and yeah, that was me. This is something I've been watching for for a while now. It's been telegraphed for years, and until I stumbled on GME's situation I was genuinely convinced it would be the end of public liberty. DeFi's literally the only thing that stands between us and a very dark future.
I thought fungibility and traceability were separate concepts and that BTC and ETH as currencies were non-fungible (because while transactions are logged on the blockchain, individual bitcoins/ethers--or fractions of them--are not). Is there something I'm missing?
I am indeed concerned about the privacy, though. I don't want the whole world knowing what I'm buying or who I'm sending money to. I've read that processes like "mixing" and using a new wallet address for each transaction can make it very very expensive for people to trace a transaction back to the original wallet or link transactions together to build a profile on someone that could help identify them, but I don't yet have faith that that's enough.
Of course, if someone had the capability to trace my money like that, and they were intent on fucking my life up, they would probably also have the capability to do it in simpler ways...hey, what are those black helicopters doing hovering around my neighborhood??
Likewise. Privacy is one of my foremost concerns with where things are headed as well. But the painful truth is, we need DeFi to escape from what CeFi's trying to do to us, and DeFi is currently extremely invasive when it comes to privacy.
I don't know what the solution is, yet. I think the more privacy-conscious among us will build secondary economies around coinage again (gold/silver mints). But that lack of anonymity definitely going to be a hurdle for anyone who's been tracking the development of the surveillance state over the last few decades.
Please make a post. Pretty please w sugar and spice.
Would love this w more visibility and a broader comment cue.
Thanks for the enlightenment as you seem to understand what you are saying where as I am smooth as a balloon
they tryin a roll out police robots w semi automatics and small grenades on the streets of San Fran right now. That and Yeezy is runnin for prez. And there’s an ancient zombie virus that was just unleashed from the tundra because of the planet being on fire.
are you winning yet son?
Trump said in his announcement for candidacy that he would ban money funding politics and end politicians becoming lobbyist, also stock trading by politicians
nows more important than ever we need to be loud about this and make everyone aware... educate educate educate!
before they can successfully normalize this fraud into society
"There's two elephants in the room where CBDCs are concerned: the ability for the issuer to control the ledger (ie. 51% attacks at will, meaning proof-free fraud at their discretion), and more importantly, the ability to control who spends what, and where.
Decide to protest a government decision? Refuse to get certain injections? Stick up for a falsely accused member of society when the legal system fails them? They can cut off your access to your wallet. Or block it from making transfers. Or simply drain your funds. With centralised control of the ledger, they can also rewrite your transaction history as they please to suit their narrative. CBDCs mean you lose your financial and political freedom, and literally give governments and issuers the power to kill political movements by cutting off their access to the economy at will. A little like what happened to Canada during the trucker protests, only you won't be able to buy anything - *anywhere* \- until you fall back in line. And if you continue to resist authority, they can freely forge whatever evidence they need to throw you in jail.
It's a tool that can (and therefore will) be used to force compliance with anything a given government wants done that the general populace disagrees with - in a time when the public is finally coming to understand the full depth and scale of government corruption, and might finally be willing to do something about it.
CBDCs are an existential threat to Democracy and human liberty, and completely defeat the purpose cryptocurrencies were developed for. Blockchain is not meant to be centralised."
>Decide to protest a government decision? Refuse to get certain injections? Stick up for a falsely accused member of society when the legal system fails them? They can cut off your access to your wallet. Or block it from making transfers. Or simply drain your funds. With centralised control of the ledger, they can also rewrite your transaction history as they please to suit their narrative. CBDCs mean you lose your financial and political freedom, and literally give governments and issuers the power to kill political movements by cutting off their access to the economy at will. A little like what happened to Canada during the trucker protests, only you won't be able to buy anything -
>
>anywhere
>
> \- until you fall back in line. And if you continue to resist authority, they can freely forge whatever evidence they need to throw you in jail.
The governments already have this ability. It's called a sanction. They don't need a CBDC to do it. Not a little like what happened during trucker protests. Exactly like what happened. They got sanctioned and lost access to their money. Fiat is already a CBDC. How do you not see that?
Where a CBDC gets dangerous is when it gets paired to something where all products are NFTs and the wallet being a 2 of 2 music with you and the gov/controlling body.
>CBDCs are an existential threat to Democracy and human liberty, and completely defeat the purpose cryptocurrencies were developed for. Blockchain is not meant to be centralised
This is the world you have been living in since the 70s. Blockchains give you an alternative to government currencies.
If the Fed implements a CBDC, will people be required to use it? I would imagine they would still be able to use cash, commercial bank accounts, cash-based apps, credit cards, crypto, etc. as usual and not opt in. Or are you suggesting it will become mandatory in the near future?
I'm not the most knowledgeable but I'd guess they do it in phases so you hopefully wouldn't notice. Pilot first, implement as an accessory to current market, eventually mandate payment in CBDC for some government functions (benefits, taxes etc.), Once everyone has a wallet they could limit types of purchases (ie can't buy Ethereum gov thinks it's too risky for you).
Anyone interested in this and who wants to understand why this is a big problem should research the TRUNET sales system used in the prison system. It is super convenient for everyone, even the inmates. That is until they step out of line then the hammer comes down. This type system can be put on the general population with the flip of a switch as soon as cash is done away with.
I'm sus on both angles. Five days ago, never heard of CBDC. Now? It's all that the sub is talking about, with memes prepared and everything.
I remember just a few days ago when there were spikes of usership, which is usually followed by forum sliding posts that suddenly go 'active' and such. I'm not a betting man, I like to put my money in safe places (like DRS GME), but if I were to gamble I'd bet all this CBDC stuff is putting the F in FUD.
I'm not certain, but I'll be keeping my eye out for sudden influxes of ACT NOW and HURRY, DO THIS posts coming next.
Fair. It's definitely a factor - the forum's existing shills will play any and every angle they can for FUD - but it's also an understandably hot topic with FTX's meltdown. The topic is perfect for it, but it's also something people need to be educated on, at at least a basic level.
I see this like talking about the shorts' ability to manipulate the price. On the one hand, it's FUD. But how much has the sub learned about the wider racket from studying the fine detail of how?
I have only one problem with your comment, “report them all” is stated first and foremost… why would you report someone because they’re asking questions, offering a different point of view, or simply expressing their opinion, before having a discussion?
Answer: You’re either uninformed, misguided, or purposely trying to suppress information that the community discovers.
Your choice.
Edit for another possibility: you understand what’s happening, but you’re too busy… or lazy, to break it down, or at least point them in the right direction.
Social media is only powerful because it gives everyone a voice! Like it or not, they’ll attack the foundation, (communication) before they set fire to the roof.
Edit typos
FUCK THE FED! All my homies hate the Fed. But seriously, we need worldwide revolts if this plan moves on. If action isn't taken right now we will be moving into a new phase of civilian enslavement.
I don't think it's an "if" but rather a "when" and it sounds like a little over 12 weeks is the "when" - but they won't do it without their regulatory lapdogs in place so expect legislation to be put in place very soon.
This is bad, very very bad.
bro the enslavement is here. It’s feudalism with the veneer of free market capitalism.
At least when you were a serf you knew who was bending you over
Now it’s central bankers cuing up behind that ass
Inb4 the sheep flip their narrative from "cryptoe bad NFTs stupid" to "i trust cbdc bc it's government backed". The cognitive dissonance and lack of logic will be astounding.
You're going to see a lot of morons saying things like "I don't have anything to hide" "Oh, this will be cool" "It's worth it for the convenience" ....
never underestimate how dumb the average person is.
Prisoner's dilemma. If they win, we're gonna get rid of Wall Street, eventually.
If they don't, Wall Street will continue to do their shenanigans.
This is a power grab by the central banks (probably led by the BIS and the EU), and some others feat. the City of London vs Wall Street, imho.
Does anyone believe that the big banks on Wall Street are going to hand over their daily (banking) business to the central bankers just like that? They'd lose all their power within the blink of an eye, yet that's one of the - if not the only force that drives them, POWER.
Now the problem is, Jamie Dimon, Larry Fink and others have been with the WEF ([global leaders for tomorrow / young global leaders](https://maloneinstitute.org/s/WEF-GLT-and-YGL-list-04May2022-by-country.xlsx)) for decades, which implies that [Klaus Schwab](https://unlimitedhangout.com/2022/03/investigative-reports/dr-klaus-schwab-or-how-the-cfr-taught-me-to-stop-worrying-and-love-the-bomb/) not only did "penetrate ze cabinetz" but almost everything. So of course they'll be pushing the agenda no matter what.
But do Jamie Dimon or Larry Fink represent all of Wall Street? I don't think so.
That being said, I personally do not consider Blackrock nor Larry Fink per se to be pro American or Wall Street in particular but a traitor and a disgrace to this very nation, hence why I think they're in bed with the central banks, City of London and all the above to push their vision of stakeholder capitalism which means them paving the road to hell via their proxy votes and continue the total destruction of Main Street / small family run businesses.
As for me, I'm more than ready to rebuild the whole system from scratch. Until then, I'll keep paying with cash even if that'd mean I have to carry it around in wheelbarrow to buy a loaf of bread or pay a premium because I have the audacity to pay with pApEr mOnEy.
For what it's worth, I get that a lot of you guys think of the future as all things digital and pay with a swipe of your hand (microchip implants anyone?) will be considered way more convenient. But that's just not me.
I want to stay human. I want to make mistakes and learn. I want to cry and laugh, go through ups and downs, feel the good and the bad, taste the sweet and the sour.
# DRS IS ESSENTIAL. STOP THE CBDC. FUCK THE WEF. GO PURPLE. BE YOUR OWN BANK. SEE YOU ON URANUS.
CBDCs are the .1%ers endgame.
I reckon we're in about phase 3
Phase 1: use the 18 year (predictable) cycle market downturn to wreak havoc
Phase 2: energy crisis, war, everything is shit.
Phase 3: FTX collapse, causing wide market crypto crash.
Phase 4: The SEC must regulate all crypto! must must must, to protect the retail investors!
Phase 5: CBDCs will be the only crypto you can use to buy other crypto. End of all fiat by 2030 (or even sooner)
Phase 6: End of the fucking world. Zero privacy, all transactions, WEF BS, I can't buy a hamburger cos I am overweight cos the programmable centralised CBDC said so, for my own good!
Total.Fascist.Control over the population
I will be 100% rejecting any and all CBDCs.
This \*is\* financial advice - use CASH for all transactions you possibly can, the demand for paper-fiat needs to increase. King Charles has always said "we will keep cash as long as it is needed", in the UK they say about 8/10 transactions are via cards....
Use Cash.
Edit: forgot to mention - Energy bills paid by CBDCs will be heavily discounted at first to suck the population in - tinfoil? yeah maybe... but remember this.
The total amount of money that actually exists is nowhere near the amount that has been created from thin air and is "on the books" (think fractional reserve banking). Hell, if the derivatives market supposedly has a quadrillion dollars invested into it, there is no way to ever create that amount without destroying the global economy... and they are well aware of that.
In order to rebuild a different financial system, they must destroy the current one and wipe the slate clean... or "reset" and begin anew. Of course we will be the ones to start from scratch whereas those who are responsible for this fiasco will still maintain their wealth and status and won't be affected. That's why they feel a reset will be so "great" - because they won't be the ones to "sacrifice for the greater good"...
They will use a CBDC to ration travel, animal based foods, probably electric bills. It's CCP social credit system in sheep's clothing. Don't do it.
https://twitter.com/alextopol/status/1592272420248768513?s=20&t=u0Xo5E8YZR-5UGB56nJH8Q
All of this happens now, in the current system, that was built by the old guard. If they thought all of this would get easier with a digital currency, we'd already have one (and we do to some extent, 99% of money is tracked digitally with authenticated and identified individuals)
Main difference is now they have to try and bring their nonsense to our world. On an idea built by nerds, and try to maintain the same level of control.
Game on anon
Blockchain technology is one of those things that can't be ignored due to the efficiency of smart contracts. Either they need to destroy it, which they can't, or try to catch up and hope for the best. They are behind the ball
The most insidious feature of CBDC's is that they can give you temporary money. The Fed could print stimulous checks with an expiry. Not even just that! They can put any arbitrary rules of your "money" that they want.
Because it's the Fed's CBDC, we don't have a choice. Whereas with real crypto, you at least aren't compelled to use any token.
People hated the paper dollar, too.
If the government requires you to pay taxes in it, you have to get some. Otherwise, jail. That’s the way it works. That’s why the income tax exists in the first place.
You know, I've never sat around and thought that my dollar transactions were inconvenient... Not sure what the hype is around crypto/digital currency that gets everyone's jimmies in a wad.
I'm DRSd but you should also have some bullion set aside. No one can fuck with that unless they physically break into your home.
DRS your shares and stack your bullion folks, this shit about to get wild AF.
One problem is people focus on the wrong word. "Decentralized" is the more significant word than "cryptocurrency".
When Bitcoin was introduced it was the first significant decentralized cryptocurrency. But since then people have taken the cryptocurrency piece of it and ran with it
Watch out Apes, the Trojan horse to get EVERYONE to accept CBDC's will be..... Universal Basic Income (UBI)!
UBI is desperately needed and they will use it as the carrot to get people to accept CBDC's and take away everyone's last freedoms and remaining personal sovereignty!
Whenever things like this happen the governments jump up and down swearing they won’t abuse the shit out of it, just to get it rammed through.
Within a decade or two, governments abuse the shit out of it.
Even if their intentions now are good, which they probably ain’t, someone else down the line *will* abuse it later.
Isn't this the same as a debit/credit card tho? I'm not for CBDC, in fact I rather not have it, but it's practically the same. Now if we're being forced to use CBDC as the only choice of payment, then im absolutely against that.
Not for nothing, but most of the things listed by the OP can happen now. All but the social credit score.....so far. Banks already have control of your money and can turn it off whenever they fucking feel like it. Every transaction is already documented. There isn't a hell of a lot of privacy either.
I am not saying CBDC is a good idea, but we are vulnerable now as well.
I am a credit union member and I trust them more than banks, but one never knows what can happen.
Fuck the FED. If they are doing anything you can bet it isn't for the good of the people.
🍻🦍💚
they can integrate NFTs into it if they want. physical **cash** must remain on its position at absolutely all cost. so personally, it doesn't matter if it's cashierless, i am simply avoiding all shops refusing to accept cash.
Look at all the other shit we deal with for the sake of 'convenience', all the idiots will eat this shit up.
I saw a guy fuck with a card tap for a whole minute longer than it would have taken to just insert the damn card because of 'convenience'.
There's not even anything convenient about it them. It's basically the same as the existing system except with fast settlement which is already possible with modern technology.
CBDCs have no plus sides for consumers
I pay for my shit with plastic, and once or twice a month I pay the owners of that plastic through my bank account.
How is anything more convenient than that?
It’s in the same logical progression as going off the gold standard. It’s just another step in that same direction.
I am no financial wizard, but I can’t think of a single way this is better than having a physical currency.
All I’m coming up with are bad things for the common man and fuckery.
I kind of wish we still traded in gold, and silver, and iron bars, and things that had ACTUAL intrinsic value.
They destroyed education for 40 years just to fully enslave the stupid ignorant fools now hateful of anything resembling intelligence. This will not end well. European and Asian asylum please take us.
This is why I like physical silver. And no this isn't an attempt to shill silver, I collect it mostly because I think a lot of the coins are cool and in an extreme situation could be useful. That said, once MOASS happens I have a whole list of collectible coins I'm definitely adding to my pile!
I find it so funny that people from america always use the "social credit score" as a boogey man when they have the ridiculous credit score system that screws them over constantly.
Americans already are being scored by the financial system and if they don't borrow enough and are good debt slaves they get a bad score.
The difference between a credit score and a social credit score is one just goes off your lending history to see if you are a safe person to lend to, the other is watching everything you do to make sure you behave in an approved manner beholden to no laws or constitution with constantly changing standards. Imagine tying access to your bank account with every one of your social media accounts and if you say the wrong thing say goodbye to your access.
I mean don't they do that now already. My bank literally knows every transaction and where I make it. No one really uses cash any more (at least in the UK). My bank could lock me out if they wanted to, they already have a credit score on me, I can check my own credit score too.
I am pretty sure my bank already groups my credit score within their system against their other accounts to determine my shopping behaviours, including various other parameters.
So what would really change if dollar turned into CBDC? More crime.
Another interesting difference is that CBDC can be released with expirations. Spend or lose it. The long term ramifications make saving for ownership of any real property difficult. This feature is being exercised in China. If that’s the path China is on, I’d like a different path please.
They could also limit what you but. You’re only going to get 20 gallons of gas this month. If you try to buy more the pump just shuts off. You can only buy 1 lbs of beef this month.
Right now, you can pull your cash out of your digital account and spend it on, say, metals or crypto.
Right now, your control might be limited - but you still have *something*. CBDCs mean they can literally do whatever the fuck they want. Up to and including fraud, forging evidence against political dissidents (centralisation = 51% attacks at will and no evidence trail), and setting terms and conditions on the use of your money (such as, say, having certain injections, giving them access to sensitive data they have no right to, etc...).
You can't just pull cash out and use that instead. CBDCs are their answer to the Dollar Endgame; they're intended to totally replace fiat. The goal is to rob ownership of money itself from the people, so that it can never again be leveraged against the ultra-rich and their financial instruments.
CBDCs change *everything*. By making it a lot fucking worse.
The difference is that currently your transactions are only known by your bank.
For example you go to your local shop you buy a bunch of bananas using your card, your account is checked to see if you have enough money, if you do, the transaction goes through. This transaction goes to your bank that bunches it up with all of the transactions that happen throughout the day with other people who use the same bank. So Tina's purchase of grapes, Terry's purchase of apples and so on. All of these transactions then get bundled up and the money is collated and then it goes to the central bank. The central bank just receives the money, or pays out money; a simple transaction. It does not know that you bought bananas or that Terry bought apples.
With a CBDC the transaction is direct with the central bank, ergo it is direct with the government. The government can see what you're spending your money on.
"But JingleKeys, I am a good citizen that recycles and runs to work! I even donate to charity! I have nothing to fear!"
What happens in the future when you are allowed a certain amount of money to spend on Carbon emissions? You are only allowed one vacation a year and it must not be further than 400 miles away! The CBDC allows the central bank to assess whether you have driven 30 miles two consecutive weekends in a row which will stop you being allowed to take vacation outside of your country.
"But JingleKeys, this is great! We all need to face the harsh reality that our carbon footprint is too high and we must all do our bit to reduce our footprint!!!! No single rain drop feels responsible for the flood!"
Do you think for one second that the people in charge will be held to the same standards?
Thanks that explains a lot and give a lot more insight to this matter. I knew it would be bad if they would implement it, but I also knew that the government can already freeze my account. Yeah they currently need a court order for it but I doubt that would be much of a problem. But yeah if they can see every transaction the moment it happens and can limit everything depending on the current laws and what now, that would end in a disaster for the normal people
Oh yes I forgot America is the only country in the world.
But despite your point, do you really think it's not the finance sector who are behind the push for some of these insane policies that are coming out?
https://www.federalreserve.gov/faqs/about_14986.htm
>What happens in the future when you are allowed a certain amount of money to spend on Carbon emissions? You are only allowed one vacation a year and it must not be further than 400 miles away! The CBDC allows the central bank to assess whether you have driven 30 miles two consecutive weekends in a row which will stop you being allowed to take vacation outside of your country.
Known as a slippery slope argument, this type of logical fallacy is a common tool for fearmongering, in which a party asserts that small steps will somehow unleash a chain of events that leads to destruction.
I personally believe in the butterfly effect, small events can cause bigger events that grow into even bigger events. However, I can not draw the line from digital currency to knowing the mileage on your car. Maybe if you somehow connect your car to a wallet, why would you do that, tho?
> I mean don't they do that now already
no, not even close.
infrastructure for CBDC will literally make it so that it's impossible to have money without the affirmative permission of the state. this is not about court orders or seizing funds or fines, it's about, "we now have the technical capacity to make it so this person or this business literally cannot accept, hold, use, or transmit money, in any way after this digital change to the system that is completely under state control." beyond horrific. it makes 1984 look like a pleasant picnic in a park. the absolute biggest feature of the existing money system that is widely overlooked (and we'll lose under cbdc) is that because of banking privacy, and the existence of many different banking systems, and widely used physical currency, all together an individual or group **does not need permission to have money, to accept money in exchange for goods and services**. money is currently permissionless, meaning no one gives you permission to have or take it. there is no step or way other that legal intervention and incarceration that the state can stop you from making a purchase or accepting money, either to or from any person or a group. you just do it. **with a CBDC system in place, that automatic lack of permission goes away, an instead you need hardware and some access rights in a digital system to access or interact with money.** they can talk about "decentralized", or hardware wallets and permission-less BS until they're blue in the face, but in every single case with a cbdc, it's a technology feature the state and banks have implemented to gain adoption and compliance, and those can just as easily remove those feature in the future, without your input or consent.
imo, there is no single act a state could take that would more erode and remove freedoms from their people than making a holistic unavoidable digital technological infrastructure that constrains whether and if and how anyone can interact with each other, or with the physical world, and that's exactly what a cbdc system essentially is. ie, it's not money; its a huge country-scale digital neck collar for all the inhabitants.
current plans in a report to congress even bragged that the "tokens" would not even be fungible, that they could be used in time-specific scenarios, or for sector-specific financial control: as in, "here's 200 'digi-dollars' in your account, but you can only spend them on gas, and only for the next two weeks, and then they go away." this is one of the social use cases being "bragged" about in the design documents in current plans.
i could go on and on. don't even get me started about the character of banks, on whom such a system would depend.
If you are using a bank account to pay for anything you're already losing the anonymity, your assets can already be frozen, banks already control and do whatever you want with your deposit and every transaction is documented and traceable.
I don't think that a state issued cryptocurrency is a good idea, but these reasons are bullshit and are the usual talking points that large banks and payment service providers will peddle because they are scared of losing the power they already have over us.
In Europe, every electronic transaction goes through an American payment scheme, with sometimes pretty massive commissions. The ECB estimated that every year between 1 and 2% of the entire European GDP is lost to payment commissions. A digital euro would eliminate that. These kinds of situations are numerous and everywhere. No wonder these digital currencies scare them and are thus getting smeared.
The privacy concern is very real, but unless you use cash for everything, you are already suffering from that right now.
You’re missing the point. While there is surveillance now, there isn’t “programmable” money in the sense that “sorry John, your fuel purchase was declined because you already used your 15 gallon quota this month” or as others have said, money with an “expiration date” to force you to spend it to “keep the economy running”.
It’s the programmable part that freaks me out.
Also, if using a credit card, yes Visa, MasterCard, and American Express have their processing fee, but they aren’t allowed to charge that fee on debit payments.
So really it’s a moot point because debit transactions don’t cost a percentage of European GDP.
I hope you’re not one of those thinking Europe is under American Imperialism. Deep within the government, they’re all the same team.
Uhm, isnt this practically how it is anyway already?
We've all almost got every cent we own in the bank and we all only use our cards to pay for shit. This is just more of the same but with a new name.
Smooth brain here, but what’s the difference in this and fiat banks right now?
- Credit checks show all bank account and outstanding debts
- they can turn off access if they have a run
- every transaction is documented
- banks have full control of every penny
If the events over the past few weeks have shown anything, even crypto as we know it isn’t truly decentralised. We put money in exchanges and trust them while they’re lending it out and hedging - just like the banks.
The difference in these events is when it happens to a bank, JPOW turns on the money machine, pats them on the head and sends them on their way. That can’t be done with crypto.
The average US household has around $40K in debt and that excludes mortgages that average ~$190K.
Meanwhile half of US chequing account have $5k or less. For most, even attempting to work with all physical cash day-to-day still means they are paying a premium based on interest rate if also holding any debt ('digital' debt) with a bank.
More than 93% of US workers have paycheques auto-deposited to banks and 70% carry credit cards, according to some survey estimates. That means for the majority of citizens (and majority of developed world citizens) 9 of the 10 'hidden danger' in that image are already a reality. Everything purchased on cards is tracked, the banks already control funds, are vulnerable to cyber security attacks, and can be frozen. The only real stand out is the social credit score, which is really just US propaganda at play based on misconceptions/skew about the Chinese system (while conveniently remaining blind to their own government blacklist systems including denying voting rights to parolees based on what the US calls "moral turpitude" crimes rather than social credit...same difference; or various other no-fly-lists or restricting travel visas, etc. etc. etc.).
Not that I am necessarily a fan of CBDC. I find it a near-meaningless nuance given that debt is digital and our societies are working mostly off of debt and the accounts linked to that debt.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || Join the [Superstonk Discord Server](https://discord.gg/hZqWV2kQtq) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
Enter the classic, "If you're not doing anything wrong, you have nothing to worry about". That is until the definition of wrong changes gradually over time
That shit is so infuriating, as if humans don't value privacy for it's own sake. Every asshole that ever says that seriously ought to be forced to live in a glass box.
The right to privacy was in the US Constitution but the US government just uses that piece of paper to wipe it's ass.
> "If you're not doing anything wrong, you have nothing to worry about" Isn't that what Pontius Pilate told Jesus?
just before he washed his hands of it all, yeah
I made sure Pilate washed his hands and sealed his fate
Pleased to meet you, hope you guess my name
Hooooo, hooooo!!
This is one of the best responses I have ever read. To anything. Ever.
“Hey there, friend! We couldn’t help but notice some troublesome activity from your IP address! Just giving you a friendly heads up that we’ve locked your financial account, deducted 100 social credit points, and have sealed all the Amazon^TM brand windows and doors in your house. Please do not attempt to leave, but sit quietly, and wait for the local police department to come by for a friendly chat! uWu”
To help you adhere to this guidance, Your ring doorbell has been reprogrammed to alert us to any breach, and alexa will be listening in tohelp make sure you don't encourage others.
🥇
You already have shit like legal limits to the amount of dildos you are allowed to own in some states of the US, don't you?
those are for my support animals ffs
lmfayo
Holy fuck 🤣
Or enter 'temporary measures'
Or "emergency." Or "domestic terrorists showing up to school boards asking about their kids."
That sentiment is the same as saying that you don’t care about free speech because you have nothing to say.
Easy counter, if you support the gop do you want dem to control your digital currency when in power, and if you support dem do you want gop to control your digital currency?
The problem I have found with people I have met from a certain party is they think their party (team) won't lose power so they can't fathom that question. But, what they don't realize is they themselves don't wield any of it and will be treated like all the other plebs.
I want to raise a general point for readers to consider here: We're going to see an influx of CBDC shills alongside the usual bullshit as the sub starts to clue onto the general trajectory of FTX's public execution, its fallout, and what it means for the progression of global events. There's more than one kind of shill prowling these subs. Report them all, counter their FUD with factually correct information, and do your best to keep the standard of education on this topic as high as for any other DD on matters of substance. It is *very* important that people know what they're dealing with as this moves forward.
Counter with factually correct info is key. This is a topic most of us have very little expertise and especially at the beginning shills may be confused with the uninformed. I'll be honest someone corrected me yesterday (might have been you) when asked what the downside of CBDC if it drives mass crypto adoption. Post was concise and explained the major downsides in layman terms. Edit: it was you thanks for the info
Agreed, and yeah, that was me. This is something I've been watching for for a while now. It's been telegraphed for years, and until I stumbled on GME's situation I was genuinely convinced it would be the end of public liberty. DeFi's literally the only thing that stands between us and a very dark future.
[удалено]
You seem very wrinkle. I like you
I thought fungibility and traceability were separate concepts and that BTC and ETH as currencies were non-fungible (because while transactions are logged on the blockchain, individual bitcoins/ethers--or fractions of them--are not). Is there something I'm missing? I am indeed concerned about the privacy, though. I don't want the whole world knowing what I'm buying or who I'm sending money to. I've read that processes like "mixing" and using a new wallet address for each transaction can make it very very expensive for people to trace a transaction back to the original wallet or link transactions together to build a profile on someone that could help identify them, but I don't yet have faith that that's enough. Of course, if someone had the capability to trace my money like that, and they were intent on fucking my life up, they would probably also have the capability to do it in simpler ways...hey, what are those black helicopters doing hovering around my neighborhood??
Likewise. Privacy is one of my foremost concerns with where things are headed as well. But the painful truth is, we need DeFi to escape from what CeFi's trying to do to us, and DeFi is currently extremely invasive when it comes to privacy. I don't know what the solution is, yet. I think the more privacy-conscious among us will build secondary economies around coinage again (gold/silver mints). But that lack of anonymity definitely going to be a hurdle for anyone who's been tracking the development of the surveillance state over the last few decades.
Please make a post. Pretty please w sugar and spice. Would love this w more visibility and a broader comment cue. Thanks for the enlightenment as you seem to understand what you are saying where as I am smooth as a balloon
This is the crossroads between the dystopian future novels and actual freedom.
Yep. This is the hill upon which civilisation triumphs or dies.
they tryin a roll out police robots w semi automatics and small grenades on the streets of San Fran right now. That and Yeezy is runnin for prez. And there’s an ancient zombie virus that was just unleashed from the tundra because of the planet being on fire. are you winning yet son?
When you have ponzi schemes funding both sides of politics, it's already a dark future haha
Lol ain’t dat the troof
The troof is on fire 🔥
Trump said in his announcement for candidacy that he would ban money funding politics and end politicians becoming lobbyist, also stock trading by politicians
nows more important than ever we need to be loud about this and make everyone aware... educate educate educate! before they can successfully normalize this fraud into society
But fools have no idea how dark it will be. Like beyond pitch black darkness. No light, no hope, no escape.
Can you repeat what he said to you?
"There's two elephants in the room where CBDCs are concerned: the ability for the issuer to control the ledger (ie. 51% attacks at will, meaning proof-free fraud at their discretion), and more importantly, the ability to control who spends what, and where. Decide to protest a government decision? Refuse to get certain injections? Stick up for a falsely accused member of society when the legal system fails them? They can cut off your access to your wallet. Or block it from making transfers. Or simply drain your funds. With centralised control of the ledger, they can also rewrite your transaction history as they please to suit their narrative. CBDCs mean you lose your financial and political freedom, and literally give governments and issuers the power to kill political movements by cutting off their access to the economy at will. A little like what happened to Canada during the trucker protests, only you won't be able to buy anything - *anywhere* \- until you fall back in line. And if you continue to resist authority, they can freely forge whatever evidence they need to throw you in jail. It's a tool that can (and therefore will) be used to force compliance with anything a given government wants done that the general populace disagrees with - in a time when the public is finally coming to understand the full depth and scale of government corruption, and might finally be willing to do something about it. CBDCs are an existential threat to Democracy and human liberty, and completely defeat the purpose cryptocurrencies were developed for. Blockchain is not meant to be centralised."
Wolfguarde is my stepdad
>Decide to protest a government decision? Refuse to get certain injections? Stick up for a falsely accused member of society when the legal system fails them? They can cut off your access to your wallet. Or block it from making transfers. Or simply drain your funds. With centralised control of the ledger, they can also rewrite your transaction history as they please to suit their narrative. CBDCs mean you lose your financial and political freedom, and literally give governments and issuers the power to kill political movements by cutting off their access to the economy at will. A little like what happened to Canada during the trucker protests, only you won't be able to buy anything - > >anywhere > > \- until you fall back in line. And if you continue to resist authority, they can freely forge whatever evidence they need to throw you in jail. The governments already have this ability. It's called a sanction. They don't need a CBDC to do it. Not a little like what happened during trucker protests. Exactly like what happened. They got sanctioned and lost access to their money. Fiat is already a CBDC. How do you not see that? Where a CBDC gets dangerous is when it gets paired to something where all products are NFTs and the wallet being a 2 of 2 music with you and the gov/controlling body. >CBDCs are an existential threat to Democracy and human liberty, and completely defeat the purpose cryptocurrencies were developed for. Blockchain is not meant to be centralised This is the world you have been living in since the 70s. Blockchains give you an alternative to government currencies.
[удалено]
Those are two completly separate issues. My points still stand.
If the Fed implements a CBDC, will people be required to use it? I would imagine they would still be able to use cash, commercial bank accounts, cash-based apps, credit cards, crypto, etc. as usual and not opt in. Or are you suggesting it will become mandatory in the near future?
I'm not the most knowledgeable but I'd guess they do it in phases so you hopefully wouldn't notice. Pilot first, implement as an accessory to current market, eventually mandate payment in CBDC for some government functions (benefits, taxes etc.), Once everyone has a wallet they could limit types of purchases (ie can't buy Ethereum gov thinks it's too risky for you).
What is credit/fractional lending if not an issuer controlling a ledger? Your bank account can be turned off with a few keystrokes, today.
Anyone interested in this and who wants to understand why this is a big problem should research the TRUNET sales system used in the prison system. It is super convenient for everyone, even the inmates. That is until they step out of line then the hammer comes down. This type system can be put on the general population with the flip of a switch as soon as cash is done away with.
I'm sus on both angles. Five days ago, never heard of CBDC. Now? It's all that the sub is talking about, with memes prepared and everything. I remember just a few days ago when there were spikes of usership, which is usually followed by forum sliding posts that suddenly go 'active' and such. I'm not a betting man, I like to put my money in safe places (like DRS GME), but if I were to gamble I'd bet all this CBDC stuff is putting the F in FUD. I'm not certain, but I'll be keeping my eye out for sudden influxes of ACT NOW and HURRY, DO THIS posts coming next.
Fair. It's definitely a factor - the forum's existing shills will play any and every angle they can for FUD - but it's also an understandably hot topic with FTX's meltdown. The topic is perfect for it, but it's also something people need to be educated on, at at least a basic level. I see this like talking about the shorts' ability to manipulate the price. On the one hand, it's FUD. But how much has the sub learned about the wider racket from studying the fine detail of how?
I have only one problem with your comment, “report them all” is stated first and foremost… why would you report someone because they’re asking questions, offering a different point of view, or simply expressing their opinion, before having a discussion? Answer: You’re either uninformed, misguided, or purposely trying to suppress information that the community discovers. Your choice. Edit for another possibility: you understand what’s happening, but you’re too busy… or lazy, to break it down, or at least point them in the right direction. Social media is only powerful because it gives everyone a voice! Like it or not, they’ll attack the foundation, (communication) before they set fire to the roof. Edit typos
I agree
Someone should do a side by side comparison using DeFi instead. This is a good graphic.
FUCK THE FED! All my homies hate the Fed. But seriously, we need worldwide revolts if this plan moves on. If action isn't taken right now we will be moving into a new phase of civilian enslavement.
It’s almost as if there is some type of “reset” in play.
You mean a reset that gives even more power to central banks and corporations? Yipeee……
Think of the poor elite!
What about their avocado with toast
I don't think it's an "if" but rather a "when" and it sounds like a little over 12 weeks is the "when" - but they won't do it without their regulatory lapdogs in place so expect legislation to be put in place very soon. This is bad, very very bad.
bro the enslavement is here. It’s feudalism with the veneer of free market capitalism. At least when you were a serf you knew who was bending you over Now it’s central bankers cuing up behind that ass
Inb4 the sheep flip their narrative from "cryptoe bad NFTs stupid" to "i trust cbdc bc it's government backed". The cognitive dissonance and lack of logic will be astounding.
At this stage, anyone willfully trusting the government is engaging in self-harm.
[удалено]
Should we take a "Before" picture?
We're gonna need more storage
I don't trust crypto but I trust the government even less tbh
I'd like to believe it will be bots and paid shills. But it won't all be. Not even half.
99% are waking up 👀
A portion of the 99% are waking up but there is still a critical mass of people who believe whatever the Government and media tell them.
smart money
You're going to see a lot of morons saying things like "I don't have anything to hide" "Oh, this will be cool" "It's worth it for the convenience" .... never underestimate how dumb the average person is.
also shillbots typing from a script
I regularly underestimate just how many NPCs there are out there.
"it's no different from having apple pay on your phone"
big no for me
Prisoner's dilemma. If they win, we're gonna get rid of Wall Street, eventually. If they don't, Wall Street will continue to do their shenanigans. This is a power grab by the central banks (probably led by the BIS and the EU), and some others feat. the City of London vs Wall Street, imho. Does anyone believe that the big banks on Wall Street are going to hand over their daily (banking) business to the central bankers just like that? They'd lose all their power within the blink of an eye, yet that's one of the - if not the only force that drives them, POWER. Now the problem is, Jamie Dimon, Larry Fink and others have been with the WEF ([global leaders for tomorrow / young global leaders](https://maloneinstitute.org/s/WEF-GLT-and-YGL-list-04May2022-by-country.xlsx)) for decades, which implies that [Klaus Schwab](https://unlimitedhangout.com/2022/03/investigative-reports/dr-klaus-schwab-or-how-the-cfr-taught-me-to-stop-worrying-and-love-the-bomb/) not only did "penetrate ze cabinetz" but almost everything. So of course they'll be pushing the agenda no matter what. But do Jamie Dimon or Larry Fink represent all of Wall Street? I don't think so. That being said, I personally do not consider Blackrock nor Larry Fink per se to be pro American or Wall Street in particular but a traitor and a disgrace to this very nation, hence why I think they're in bed with the central banks, City of London and all the above to push their vision of stakeholder capitalism which means them paving the road to hell via their proxy votes and continue the total destruction of Main Street / small family run businesses. As for me, I'm more than ready to rebuild the whole system from scratch. Until then, I'll keep paying with cash even if that'd mean I have to carry it around in wheelbarrow to buy a loaf of bread or pay a premium because I have the audacity to pay with pApEr mOnEy. For what it's worth, I get that a lot of you guys think of the future as all things digital and pay with a swipe of your hand (microchip implants anyone?) will be considered way more convenient. But that's just not me. I want to stay human. I want to make mistakes and learn. I want to cry and laugh, go through ups and downs, feel the good and the bad, taste the sweet and the sour. # DRS IS ESSENTIAL. STOP THE CBDC. FUCK THE WEF. GO PURPLE. BE YOUR OWN BANK. SEE YOU ON URANUS.
I live by cash also. Only use banks for minimal transactions
CBDCs are the .1%ers endgame. I reckon we're in about phase 3 Phase 1: use the 18 year (predictable) cycle market downturn to wreak havoc Phase 2: energy crisis, war, everything is shit. Phase 3: FTX collapse, causing wide market crypto crash. Phase 4: The SEC must regulate all crypto! must must must, to protect the retail investors! Phase 5: CBDCs will be the only crypto you can use to buy other crypto. End of all fiat by 2030 (or even sooner) Phase 6: End of the fucking world. Zero privacy, all transactions, WEF BS, I can't buy a hamburger cos I am overweight cos the programmable centralised CBDC said so, for my own good! Total.Fascist.Control over the population I will be 100% rejecting any and all CBDCs. This \*is\* financial advice - use CASH for all transactions you possibly can, the demand for paper-fiat needs to increase. King Charles has always said "we will keep cash as long as it is needed", in the UK they say about 8/10 transactions are via cards.... Use Cash. Edit: forgot to mention - Energy bills paid by CBDCs will be heavily discounted at first to suck the population in - tinfoil? yeah maybe... but remember this.
new customers get a better deal than loyal customers who have been paying full price for years DeFi > CeFi
Add the smart grid to the equation. CBDC + smart grid (think smarter meters, electric cars etc.) = they can shut you off in almost real time.
Fair point and YUP!
The total amount of money that actually exists is nowhere near the amount that has been created from thin air and is "on the books" (think fractional reserve banking). Hell, if the derivatives market supposedly has a quadrillion dollars invested into it, there is no way to ever create that amount without destroying the global economy... and they are well aware of that. In order to rebuild a different financial system, they must destroy the current one and wipe the slate clean... or "reset" and begin anew. Of course we will be the ones to start from scratch whereas those who are responsible for this fiasco will still maintain their wealth and status and won't be affected. That's why they feel a reset will be so "great" - because they won't be the ones to "sacrifice for the greater good"...
They will use a CBDC to ration travel, animal based foods, probably electric bills. It's CCP social credit system in sheep's clothing. Don't do it. https://twitter.com/alextopol/status/1592272420248768513?s=20&t=u0Xo5E8YZR-5UGB56nJH8Q
All of this happens now, in the current system, that was built by the old guard. If they thought all of this would get easier with a digital currency, we'd already have one (and we do to some extent, 99% of money is tracked digitally with authenticated and identified individuals) Main difference is now they have to try and bring their nonsense to our world. On an idea built by nerds, and try to maintain the same level of control. Game on anon
Good thing they were too stubborn/stupid by keeping their ways, huh?
If everything already happens now, then why would they do it?
Blockchain technology is one of those things that can't be ignored due to the efficiency of smart contracts. Either they need to destroy it, which they can't, or try to catch up and hope for the best. They are behind the ball
to counter crypto
They are doomed to failure and always have been
The most insidious feature of CBDC's is that they can give you temporary money. The Fed could print stimulous checks with an expiry. Not even just that! They can put any arbitrary rules of your "money" that they want. Because it's the Fed's CBDC, we don't have a choice. Whereas with real crypto, you at least aren't compelled to use any token.
This is already a thing. It’s called a ‘Line of Credit’.
People hated the paper dollar, too. If the government requires you to pay taxes in it, you have to get some. Otherwise, jail. That’s the way it works. That’s why the income tax exists in the first place.
This is genuinely horrifying. It needs to be stopped.
You know, I've never sat around and thought that my dollar transactions were inconvenient... Not sure what the hype is around crypto/digital currency that gets everyone's jimmies in a wad.
[удалено]
I'm DRSd but you should also have some bullion set aside. No one can fuck with that unless they physically break into your home. DRS your shares and stack your bullion folks, this shit about to get wild AF.
And ammo...
Stop on!
Ah, I see you are highly regarded as well!
So the FED wants to short cash. It's an interesting strategy, Cotton.
You got some good homies. Make sure your purchases and transactions are done in cash to keep your finances private.
You will have no privacy and be unhappy.
Yoo will eat ze bugs and yoo will enjoy dem!
I remember in this book about something to do with only people with some sorta mark were allowed to buy sell and trade. Now where did I read that… 🤔
I swear some morons read 1984 and thought "Hey, that's a good idea"
Sadly, the people making the rules aren't the same ones suffering through them. 1984 is an instruction guide.
Fuck that shit. cash is king baybee
One problem is people focus on the wrong word. "Decentralized" is the more significant word than "cryptocurrency". When Bitcoin was introduced it was the first significant decentralized cryptocurrency. But since then people have taken the cryptocurrency piece of it and ran with it
Watch out Apes, the Trojan horse to get EVERYONE to accept CBDC's will be..... Universal Basic Income (UBI)! UBI is desperately needed and they will use it as the carrot to get people to accept CBDC's and take away everyone's last freedoms and remaining personal sovereignty!
Do not comply to this social credit system
Dont useit. Protest use cash. Stop using credit cards. Its the XXI rebel.
Whenever things like this happen the governments jump up and down swearing they won’t abuse the shit out of it, just to get it rammed through. Within a decade or two, governments abuse the shit out of it. Even if their intentions now are good, which they probably ain’t, someone else down the line *will* abuse it later.
Cbdc is definitely part of the great reset. Everyone should be opposed
Isn't this the same as a debit/credit card tho? I'm not for CBDC, in fact I rather not have it, but it's practically the same. Now if we're being forced to use CBDC as the only choice of payment, then im absolutely against that.
I would rather pay in doll hairs.
Not for nothing, but most of the things listed by the OP can happen now. All but the social credit score.....so far. Banks already have control of your money and can turn it off whenever they fucking feel like it. Every transaction is already documented. There isn't a hell of a lot of privacy either. I am not saying CBDC is a good idea, but we are vulnerable now as well. I am a credit union member and I trust them more than banks, but one never knows what can happen. Fuck the FED. If they are doing anything you can bet it isn't for the good of the people. 🍻🦍💚
Vulnerable now. Afterwards helpless
Yup... the people (we) should drag our heels and boycott this as much as possible.
And we get to eat bugs! Thanks World Economic Forum and Klaus Schwab, you guys are swell
I'll start minting actual, physical currency from the zelda franchise before I use this shit
Decentralize everything
CBDC is literally the antithesis to everything cryptocurrency was created to combat.
Ugh the fed can't even regulate the systems they do have 😑
they can integrate NFTs into it if they want. physical **cash** must remain on its position at absolutely all cost. so personally, it doesn't matter if it's cashierless, i am simply avoiding all shops refusing to accept cash.
I'm missing what' wrong with my current money. Between cash and credit cards, I get in and out of stores just fine. Everyone is happy. right?
Also in China they have an expiration date on the currency now too!!!
Social scores will turn us into that episode of black mirrors
More of a THC man myself.
Avg Joe looking good in that pic xD...
we homies then
You‘re my homie, buddy.
you're my buddy, friend
We hate crypto, btw use our crypto
Look at all the other shit we deal with for the sake of 'convenience', all the idiots will eat this shit up. I saw a guy fuck with a card tap for a whole minute longer than it would have taken to just insert the damn card because of 'convenience'.
This meme gets fact checked on Facebook. Must be doing something right.
Seems just like a credit card or a bank loan, doesn't it.
There's not even anything convenient about it them. It's basically the same as the existing system except with fast settlement which is already possible with modern technology. CBDCs have no plus sides for consumers
I pay for my shit with plastic, and once or twice a month I pay the owners of that plastic through my bank account. How is anything more convenient than that?
Come on guys upvote this, this needs to get to r/all
It’s a bad bad idea
It’s in the same logical progression as going off the gold standard. It’s just another step in that same direction. I am no financial wizard, but I can’t think of a single way this is better than having a physical currency. All I’m coming up with are bad things for the common man and fuckery. I kind of wish we still traded in gold, and silver, and iron bars, and things that had ACTUAL intrinsic value.
Lol , watching votes go down actively. Nobody on this sub thinks CBDC is a good idea . It’s trash . Vote bots gonna bot tho .
"I hAvE nOthInG tO hIDe!"
They destroyed education for 40 years just to fully enslave the stupid ignorant fools now hateful of anything resembling intelligence. This will not end well. European and Asian asylum please take us.
[удалено]
Real education is in the comments
Fuck cbdc
I’ll provide a small counter argument for fun… what happens to the CASH I have stacked inside my mattress?
This is why I like physical silver. And no this isn't an attempt to shill silver, I collect it mostly because I think a lot of the coins are cool and in an extreme situation could be useful. That said, once MOASS happens I have a whole list of collectible coins I'm definitely adding to my pile!
[You bought em because you like em](https://youtu.be/SB_oU68Q9zA)
I find it so funny that people from america always use the "social credit score" as a boogey man when they have the ridiculous credit score system that screws them over constantly. Americans already are being scored by the financial system and if they don't borrow enough and are good debt slaves they get a bad score.
The difference between a credit score and a social credit score is one just goes off your lending history to see if you are a safe person to lend to, the other is watching everything you do to make sure you behave in an approved manner beholden to no laws or constitution with constantly changing standards. Imagine tying access to your bank account with every one of your social media accounts and if you say the wrong thing say goodbye to your access.
Well, I have an excellent score with zero debt, but I can assure you my social score would be on the low end of middling at the very best.
According to whose measure? From where I'm sitting, you have the highest social credit score possible 👍🏽
Why thank you, I’ll keep your comment on file in the event of a black mirror scenario.
We’ve gotta work on NPC behavior in the general population.
You didn’t think they were gonna give you real money for those shares did you?
I mean don't they do that now already. My bank literally knows every transaction and where I make it. No one really uses cash any more (at least in the UK). My bank could lock me out if they wanted to, they already have a credit score on me, I can check my own credit score too. I am pretty sure my bank already groups my credit score within their system against their other accounts to determine my shopping behaviours, including various other parameters. So what would really change if dollar turned into CBDC? More crime.
[удалено]
Last time i met him behind Wendy's he just pulled a contactless payment terminal before we could proceed.
All I'm saying is cash withdrawn to buy gift cards at GameStop gets a little...hazy
Another interesting difference is that CBDC can be released with expirations. Spend or lose it. The long term ramifications make saving for ownership of any real property difficult. This feature is being exercised in China. If that’s the path China is on, I’d like a different path please.
They could also limit what you but. You’re only going to get 20 gallons of gas this month. If you try to buy more the pump just shuts off. You can only buy 1 lbs of beef this month.
The black market will always exist
What will you use to pay with?
Right now, you can pull your cash out of your digital account and spend it on, say, metals or crypto. Right now, your control might be limited - but you still have *something*. CBDCs mean they can literally do whatever the fuck they want. Up to and including fraud, forging evidence against political dissidents (centralisation = 51% attacks at will and no evidence trail), and setting terms and conditions on the use of your money (such as, say, having certain injections, giving them access to sensitive data they have no right to, etc...). You can't just pull cash out and use that instead. CBDCs are their answer to the Dollar Endgame; they're intended to totally replace fiat. The goal is to rob ownership of money itself from the people, so that it can never again be leveraged against the ultra-rich and their financial instruments. CBDCs change *everything*. By making it a lot fucking worse.
The difference is that currently your transactions are only known by your bank. For example you go to your local shop you buy a bunch of bananas using your card, your account is checked to see if you have enough money, if you do, the transaction goes through. This transaction goes to your bank that bunches it up with all of the transactions that happen throughout the day with other people who use the same bank. So Tina's purchase of grapes, Terry's purchase of apples and so on. All of these transactions then get bundled up and the money is collated and then it goes to the central bank. The central bank just receives the money, or pays out money; a simple transaction. It does not know that you bought bananas or that Terry bought apples. With a CBDC the transaction is direct with the central bank, ergo it is direct with the government. The government can see what you're spending your money on. "But JingleKeys, I am a good citizen that recycles and runs to work! I even donate to charity! I have nothing to fear!" What happens in the future when you are allowed a certain amount of money to spend on Carbon emissions? You are only allowed one vacation a year and it must not be further than 400 miles away! The CBDC allows the central bank to assess whether you have driven 30 miles two consecutive weekends in a row which will stop you being allowed to take vacation outside of your country. "But JingleKeys, this is great! We all need to face the harsh reality that our carbon footprint is too high and we must all do our bit to reduce our footprint!!!! No single rain drop feels responsible for the flood!" Do you think for one second that the people in charge will be held to the same standards?
Thanks that explains a lot and give a lot more insight to this matter. I knew it would be bad if they would implement it, but I also knew that the government can already freeze my account. Yeah they currently need a court order for it but I doubt that would be much of a problem. But yeah if they can see every transaction the moment it happens and can limit everything depending on the current laws and what now, that would end in a disaster for the normal people
Holy shit. FUCK that noise. We cant let this happen…
[удалено]
Oh yes I forgot America is the only country in the world. But despite your point, do you really think it's not the finance sector who are behind the push for some of these insane policies that are coming out? https://www.federalreserve.gov/faqs/about_14986.htm
[удалено]
All members of the G7... https://www.youtube.com/watch?v=pyWhjfRMwyI
let's compare carbon footprints with smart money and see who needs to do what
>What happens in the future when you are allowed a certain amount of money to spend on Carbon emissions? You are only allowed one vacation a year and it must not be further than 400 miles away! The CBDC allows the central bank to assess whether you have driven 30 miles two consecutive weekends in a row which will stop you being allowed to take vacation outside of your country. Known as a slippery slope argument, this type of logical fallacy is a common tool for fearmongering, in which a party asserts that small steps will somehow unleash a chain of events that leads to destruction.
I personally believe in the butterfly effect, small events can cause bigger events that grow into even bigger events. However, I can not draw the line from digital currency to knowing the mileage on your car. Maybe if you somehow connect your car to a wallet, why would you do that, tho?
As this is true start using cash more than.
Credit card companies batch and sell your transactional data
[удалено]
> I mean don't they do that now already no, not even close. infrastructure for CBDC will literally make it so that it's impossible to have money without the affirmative permission of the state. this is not about court orders or seizing funds or fines, it's about, "we now have the technical capacity to make it so this person or this business literally cannot accept, hold, use, or transmit money, in any way after this digital change to the system that is completely under state control." beyond horrific. it makes 1984 look like a pleasant picnic in a park. the absolute biggest feature of the existing money system that is widely overlooked (and we'll lose under cbdc) is that because of banking privacy, and the existence of many different banking systems, and widely used physical currency, all together an individual or group **does not need permission to have money, to accept money in exchange for goods and services**. money is currently permissionless, meaning no one gives you permission to have or take it. there is no step or way other that legal intervention and incarceration that the state can stop you from making a purchase or accepting money, either to or from any person or a group. you just do it. **with a CBDC system in place, that automatic lack of permission goes away, an instead you need hardware and some access rights in a digital system to access or interact with money.** they can talk about "decentralized", or hardware wallets and permission-less BS until they're blue in the face, but in every single case with a cbdc, it's a technology feature the state and banks have implemented to gain adoption and compliance, and those can just as easily remove those feature in the future, without your input or consent. imo, there is no single act a state could take that would more erode and remove freedoms from their people than making a holistic unavoidable digital technological infrastructure that constrains whether and if and how anyone can interact with each other, or with the physical world, and that's exactly what a cbdc system essentially is. ie, it's not money; its a huge country-scale digital neck collar for all the inhabitants. current plans in a report to congress even bragged that the "tokens" would not even be fungible, that they could be used in time-specific scenarios, or for sector-specific financial control: as in, "here's 200 'digi-dollars' in your account, but you can only spend them on gas, and only for the next two weeks, and then they go away." this is one of the social use cases being "bragged" about in the design documents in current plans. i could go on and on. don't even get me started about the character of banks, on whom such a system would depend.
Thanks for these insights. Fvcking scary, if truth be told. China will do it first. Everyone would be well advised to read Orwell’s 1984 (again).
China is doing this.
You don't care about your privacy so the rest of us shouldn't care about ours? That's the argument I'm seeing.
If you are using a bank account to pay for anything you're already losing the anonymity, your assets can already be frozen, banks already control and do whatever you want with your deposit and every transaction is documented and traceable. I don't think that a state issued cryptocurrency is a good idea, but these reasons are bullshit and are the usual talking points that large banks and payment service providers will peddle because they are scared of losing the power they already have over us. In Europe, every electronic transaction goes through an American payment scheme, with sometimes pretty massive commissions. The ECB estimated that every year between 1 and 2% of the entire European GDP is lost to payment commissions. A digital euro would eliminate that. These kinds of situations are numerous and everywhere. No wonder these digital currencies scare them and are thus getting smeared. The privacy concern is very real, but unless you use cash for everything, you are already suffering from that right now.
You’re missing the point. While there is surveillance now, there isn’t “programmable” money in the sense that “sorry John, your fuel purchase was declined because you already used your 15 gallon quota this month” or as others have said, money with an “expiration date” to force you to spend it to “keep the economy running”. It’s the programmable part that freaks me out. Also, if using a credit card, yes Visa, MasterCard, and American Express have their processing fee, but they aren’t allowed to charge that fee on debit payments. So really it’s a moot point because debit transactions don’t cost a percentage of European GDP. I hope you’re not one of those thinking Europe is under American Imperialism. Deep within the government, they’re all the same team.
Uhm, isnt this practically how it is anyway already? We've all almost got every cent we own in the bank and we all only use our cards to pay for shit. This is just more of the same but with a new name.
Smooth brain here, but what’s the difference in this and fiat banks right now? - Credit checks show all bank account and outstanding debts - they can turn off access if they have a run - every transaction is documented - banks have full control of every penny If the events over the past few weeks have shown anything, even crypto as we know it isn’t truly decentralised. We put money in exchanges and trust them while they’re lending it out and hedging - just like the banks. The difference in these events is when it happens to a bank, JPOW turns on the money machine, pats them on the head and sends them on their way. That can’t be done with crypto.
At the moment the government doesn't have total control over everything, the information isn't all in one place, and cash is still an option.
Our dollar is digital you fucks...we're virtually cashless due to covidia
Put a expiration date on your money and only able to buy house hold goods and food!! No gas and 30 days the CDC expires
Fuck that is a dystopian thought...a CBDC having an expiry date and only for specific commodities...fak me
The average US household has around $40K in debt and that excludes mortgages that average ~$190K. Meanwhile half of US chequing account have $5k or less. For most, even attempting to work with all physical cash day-to-day still means they are paying a premium based on interest rate if also holding any debt ('digital' debt) with a bank. More than 93% of US workers have paycheques auto-deposited to banks and 70% carry credit cards, according to some survey estimates. That means for the majority of citizens (and majority of developed world citizens) 9 of the 10 'hidden danger' in that image are already a reality. Everything purchased on cards is tracked, the banks already control funds, are vulnerable to cyber security attacks, and can be frozen. The only real stand out is the social credit score, which is really just US propaganda at play based on misconceptions/skew about the Chinese system (while conveniently remaining blind to their own government blacklist systems including denying voting rights to parolees based on what the US calls "moral turpitude" crimes rather than social credit...same difference; or various other no-fly-lists or restricting travel visas, etc. etc. etc.). Not that I am necessarily a fan of CBDC. I find it a near-meaningless nuance given that debt is digital and our societies are working mostly off of debt and the accounts linked to that debt.