4 ms·

It's 100% about CBDC's. CBDC's are the endgame for tyranny, really. We should be doing absolutely everything we can to fight this.

spiralx 5y ago
How are CBDCs the "endgame for tyranny" in a way that (presumably) fiat currencies or cryptocurrencies aren't? Seems a bit hyperbolic, but maybe you have good reasons to be so alarmed.
- csomar 5y ago
  You can't ban someone from owning or using cash. But you can do so with a CBDC.
  - BitwiseFool 5y ago
    You can also dictate how the funds in a CBDC wallet are spent. There was a proposal that CBDC wallets could be issued stimulus funds that expire unless they are spent within a certain time frame. This is to prevent people from just putting the check into a savings account.
    - csomar 5y ago
      CBDC are just a huge/national bank. It's a dream come true for the Marxists.
  - spiralx 5y ago
    As far as I'm aware CBDCs are a largely theoretical concept right now, do you have any links to an implementation such as you're describing?
    - MonkeyClub 5y ago
      https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html https://www.ecb.europa.eu/paym/digital_euro/html/index.en.ht...
- tastyfreeze 5y ago
  Not hyperbolic at all. CBDCs are a permissioned private ledger controlled by the central bank. The central bank controls what addresses are allowed to transact and have access to every transaction. If they dont like what you are spending your money on you are no longer allowed to transact. If they think you have too much money they can just take it. https://youtu.be/UW9LbfuCTP0 https://youtu.be/UW9LbfuCTP0
  - spiralx 5y ago
    As far as I'm aware CBDCs are a largely theoretical concept right now, do you have any links to an implementation such as you're describing? No videos please, I don't watch them.
    - rip_netrunner 5y ago
      A cursory google search on your part would have easily turned up web pages like these from the central bank of Canada: https://www.bankofcanada.ca/2020/02/contingency-planning-central-bank-digital-currency/ https://www.bankofcanada.ca/2020/02/contingency-planning-cen... https://www.bankofcanada.ca/research/digital-currencies-and-fintech/projects/ https://www.bankofcanada.ca/research/digital-currencies-and-...
      - spiralx 5y ago
        Yes, I'm aware that they're an area of research in many countries, I was talking about actual projects that represent the "endgame of tyranny" as described above. The paper you've linked to talks about privacy and universal accessibility as core goals and I'm not sure whereabouts in this overview the tyranny is outlined - I'm sure you've read it and can point it out?
        MonkeyClub 5y ago
        The issue is with accessibility, and raised by people who inherently mistrust the state, as the state can sort of cancel your participation in society if they so wish by revoking whatever authentication (digital ID) it has issued you to enable accessibility in the first place. Now, why the state would do that, or why anyone would inherently mistrust the state, are open to discussion.

spiralx 5y ago

How are CBDCs the "endgame for tyranny" in a way that (presumably) fiat currencies or cryptocurrencies aren't? Seems a bit hyperbolic, but maybe you have good reasons to be so alarmed.

csomar 5y ago
You can't ban someone from owning or using cash. But you can do so with a CBDC.
- BitwiseFool 5y ago
  You can also dictate how the funds in a CBDC wallet are spent. There was a proposal that CBDC wallets could be issued stimulus funds that expire unless they are spent within a certain time frame. This is to prevent people from just putting the check into a savings account.
  - csomar 5y ago
    CBDC are just a huge/national bank. It's a dream come true for the Marxists.
- spiralx 5y ago
  As far as I'm aware CBDCs are a largely theoretical concept right now, do you have any links to an implementation such as you're describing?
  - MonkeyClub 5y ago
    https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html https://www.ecb.europa.eu/paym/digital_euro/html/index.en.ht...
tastyfreeze 5y ago
Not hyperbolic at all. CBDCs are a permissioned private ledger controlled by the central bank. The central bank controls what addresses are allowed to transact and have access to every transaction. If they dont like what you are spending your money on you are no longer allowed to transact. If they think you have too much money they can just take it. https://youtu.be/UW9LbfuCTP0 https://youtu.be/UW9LbfuCTP0
- spiralx 5y ago
  As far as I'm aware CBDCs are a largely theoretical concept right now, do you have any links to an implementation such as you're describing? No videos please, I don't watch them.
  - rip_netrunner 5y ago
    A cursory google search on your part would have easily turned up web pages like these from the central bank of Canada: https://www.bankofcanada.ca/2020/02/contingency-planning-central-bank-digital-currency/ https://www.bankofcanada.ca/2020/02/contingency-planning-cen... https://www.bankofcanada.ca/research/digital-currencies-and-fintech/projects/ https://www.bankofcanada.ca/research/digital-currencies-and-...
    - spiralx 5y ago
      Yes, I'm aware that they're an area of research in many countries, I was talking about actual projects that represent the "endgame of tyranny" as described above. The paper you've linked to talks about privacy and universal accessibility as core goals and I'm not sure whereabouts in this overview the tyranny is outlined - I'm sure you've read it and can point it out?
      - MonkeyClub 5y ago
        The issue is with accessibility, and raised by people who inherently mistrust the state, as the state can sort of cancel your participation in society if they so wish by revoking whatever authentication (digital ID) it has issued you to enable accessibility in the first place. Now, why the state would do that, or why anyone would inherently mistrust the state, are open to discussion.