CBDCs are coming, and I am not ready!

There are more rumblings of impending doom, Central Bank Digital Currencies. All assets will be tokenized and placed into a ledger, maintained by your favorite Central Bank.

BIS had stated all assets, once tokenized, will carry with them conditional transaction limitations which banks will be able to programmatically impose. So long privacy and financial freedom.

I just want cash, please. I've been, single-handedly, trying to bring it back, by paying cash where I can, using credit cards as little as possible, and refusing any phone-based payment systems whatsoever. I do not need a third party selling my data and collecting fees, thank you. But looking around it seems I am alone in this undertaking. Even my own kids are waving their phones around snickering.

And for all of you who thought Bitcorn was a bad idea... You are about to be dipped into a really crappy version thereof - one with zero privacy, no security, and a ledger maintained by corrupt, psychopathic morons. Good luck to us all.

🚀 stack

Jan 07 · 4 months ago · 👍 akkartik, jmjl, bytcorn

5 Comments ↓

🧩 ERnsTL · Jan 09 at 09:18:

@oldernow How did the value of participating in Gemini decrease for you over time?

🧩 ERnsTL · Jan 09 at 09:20:

It is not about "offering a safe alternative to Bitcoin", the push to cashless has started before that.

Well, seeing every transaction without blind spots is the obvious goal.

🐐 drh3xx · Jan 09 at 13:01:

I try to use cash where I can, avoid selfservice checkout and go to the bar rather than download the app. I've come to see digitalisation of absolutely everything in a very negative way. Tech has its place but that place is most certainly not EVERYWHERE!

🚀 stack [OP] · Jan 09 at 17:53:

At least the VOLUME of participating has not been decreasing in your case! :)

🚀 bytcorn · Jan 09 at 19:49:

Friend, if you thought Bitcoin was a halfway decent idea, if it was working as intended, then wait till you find out about a variant thereof that does, and more. I could talk for hours about how it has the capacity to completely replace PayPal and a few smaller credit card companies, on off-the shelf hardware, have opt-in privacy, can run DeFi, can be used to represent tickets, loyality points, shares and collectibles, and, most importantly, lets you give money to anyone, anywhere, anytime, for the fraction of a cent, without asking for anyone's permission. A real, honest-to-goodness peer-to-peer electronic cash!