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RE: What did you order for lunch? Looking DEEP into CBDC

in LeoFinance2 years ago

Governments will have no power if people simply refuse to use their money.

Hyperinflation or attempts to introduce CBDCs will just cause the population to rapidly shift to the already well established and far more efficient cryptocurrency financial system. Just download an app. There will be no ramps for the government to control.
Those people and merchants who move to sound money will prosper and those that don't will suffer and fail and then follow the crowd over to the new crypto based financial system.

Governments can't actually force people to do anything if the people reject their money. Firstly there are never enough police and soldiers to force the people to act against their interests and secondly there will be very few police and soldiers willing to work for a government that can only pay them in something no one else wants.

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This is why I ultimately think a large amount of the population will need to 'disappear'. CBDC's isn't the solution to the craziness they have created. This is why I am most fearful of a big war. Best solution to them because as they lose their grip on power they will up the stakes. Covid has also proven the willingness of people to accept what the government dishes out. People will continue to trust them.

The weak link for people wanting to use digital money which is not of the CBDC variety remains that initial buy of cryptocurrency using fiat money tied to a bank account. For many of us here, we've already done that.

For people who have not done that prior to the CBDC going online, that's a problem due to KYC and AML laws. What these people will need is a newly-created and fungible medium of currency to be used as a buffer between the CBDC and the money they truly want to use.

Maybe we should see what the imaginative people involved in the "intoxicant" business come up with as a way for them to continue plying their trade.

Crypto adoption levels are already sufficient for person to person transactions to distribute crypto to the the 85% who don't already have it without any need for on-ramps. Merchants can start accepting crypto for goods and services and acquire it that way.

Mass adoption of crypto could occur in a matter of weeks and governments couldn't do anything to stop it.