It was going to disrupt crypto and decentralization to the core. This was a very big problem (or so some people thought) and it was talked about A LOT. How on Earth will these dinky sad little networks with no funding possibly compete with multi-billion dollar corporations? Long story short: they can't. Sorry bruv: game over man. Game over. Corporations win: grassroots movement loses; a tale as old as time in the tech world.
You can't do anything on Enterprise blockchain unless that account has a green light to do so by a centralized authority.
And thus Enterprise Blockchains turned out to be absolute garbage and a complete waste of time and money. Guess where that money was funneled into? Training devs how to code on the blockchain. So now the vast majority of those devs that got trained on a false and failed system are now working on real projects that aren't complete hammered dogshit. If anything, the money pumped into Enterprise Blockchain only accelerated real development as the fake development imploded in real time.
Everyone understands that it was a huge nothing burger that was never going to amount to anything. Funny how that works. None of the alarmist doomsayers that claimed Enterprise Blockchain was going to ruin everything came forward and admitted their mistake. Classic know-it-alls doing know-it-all things.
So imagine my absolute shock (not) when these same chuckleheads started spouting the exact same nonsense about CBDCs. The noise is DEAFENING. There is no signal. Everyone and their mothers are crying about how CBDCs are going to ruin everything, just like Enterprise Blockchain.
CBDCs are vaporware. They do not exist, and they will never exist. Just like Enterprise Blockchain. Tell me now how to buy in to Enterprise Blockchain. I've been here for 6 years and I still don't know. Tell me how to buy in to a CBDC. Where is it? How do I buy it? I want some. Where is the listing? They don't exist bruv. Stop worrying about problems that don't exist. We have enough to worry about as it is.
The ONLY difference between Enterprise Blockchain and CBDC is the entity issuing the permissions. With Enterprise Blockchain a corporation issues the permission. With CBDC: politicians are in charge. Many wrongfully assume that because government has more power than a corporation that they can force people to use their shitty and defunct product. When in the history of ever has this happened?
Tell me one time the government forced citizens to use a certain kind of technology that they controlled unilaterally. This has never happened in my country. Maybe if you live in China you can give me a good example, but trying to apply this concept to the entire world with blanket statements is completely absurd. That is not how the world works. Plain and simple.
Either you're right and you get vaporized instantly or you're wrong which leads to completely irrational constant fear and stress that's going to diminish your health and allow you to be controlled by others looking to capitalize on that fear. Worrying about something you have absolutely no control over and isn't going to happen anyway is a definitively less-than-worthless activity. It's actively damaging. Stop doing it if possible.
Most people simply do not understand the geopolitics of this situation. CBDC is a conflict of interest to every single powerful entity out there. The only people who would want it are the ones who control it. You know who doesn't want it? Actual central banks and the entire retail banking sector. Why would any of these entities willingly allow politicians to come in and control everything?
Essentially the entire retail banking system needs to collapse to pave the way for CBDCs. USD needs to crash to ZERO for CBDCs to appear. Billions of people need to die or at least be wallowing in misery. So then why is the focus on CBDCs instead of all these other impending disasters that need to happen first? Anyone truly worried about CBDC that isn't working on building a bunker and stockpiling a couple year's worth of food is obviously doing it wrong. So even if they're right: they're wrong. That's not the side of the argument I'd like to be on. How many resources have preppers wasted thus far? Don't worry though the apocalypse is right around the corner and I'll sure you'll be just fine when everything around you implodes because you dug a hole in the ground. Smart.
No whatever they will just force it.
Okay so imagine the feds created a computer operating system. Let's call it fedOS. Now they create laws that make every other viable operating system illegal. Everyone is legally required to use fedOS. Windows is banned. Mac is banned. Apple? Banned. Android is banned. Linux is banned. There can be only fedOS. This is the argument being made with CBDCs. Does anyone see yet why the argument is totally ridiculous on every level?
Ever. Never. Ever.
First of all it's basically guaranteed that fedOS will be a shitty operating system and no one is going to want to use it anyway. Then we have every single player in BIG TECH lobbying against this obvious conflict of interest and legalized monopoly. Then we have all the other corporations flat out ignore the law because the systems that they've built DEPEND on the banned operating systems and it wouldn't even be possible to rebuild it on a new one.
The healthcare system used Windows XP even after the security updates ended. Do we really think we could beep boop beep a law into existence in the next year or two that could magically fix problems like this? Again, it's completely absurd and ignores the nuance of the real world.
Why aren't billionaires telling us we need CBDC?
Why isn't Blackrock telling us we need CBDC?
Why isn't mainstream media telling us we need CBDC?
Because it's vaporware nonsense that doesn't exist and will never exist.
As someone who's actually looked into how CBDCs actually work, I can tell you that they are designed in a such an absurd and stupid way that they will never be used. Never. Ever. They are complete garbage, even for the people who control and operate them. They are a less than worthless shitpile boondoggle. A nonsense jibber jabber nothing technology that never existed. See: Turbo Encabulator.
CBDCs are so stupid and terrible that you can't even ping the API to see how much money you have in your account. To "maintain privacy" the system expects YOU to keep track of every penny that was ever sent to you. In essence they expect every single user to either run their own node or outsource that responsibility to a "trusted" third party. Who is this trusted third party? Retail banks? Oh wait that's right retail banks will fight tooth and nail against this tech... so who's going to run the infrastructure? Literally no one.
If the operators of the CBDC decide that one of your UTXO's is invalid and they delete it: you will not be notified and there is no way to check, because again there is no API to ping. So literally no one who uses this system will know if the amount of money displayed in their wallet is actually correct. Does this sound like a technology that's going to take over the entire world? Or a worthless hunk of shit abomination created by MIT game-theory? We already know the answer.
It's like if politicians squatted down and took a shit in their own hands and told everyone: "This is your new money now". "USD is illegal, bitch". And then collectively everyone in crypto was like OH MY GOD THE POLITICIANS ARE GOING TO FORCE EVERYONE TO USE LITERAL SHIT AS MONEY! WHAT ARE WE GONNA DO!??!?!?!?!?!?!!!!!!1111 The answer is we don't have to do anything because that's a fucking stupid thing to be worried about. Duh?
Another thing people are worried about is FedNow and how this paves the way for CBDC. Well, actually... again... it's the opposite. CBDC and FedNow are a conflict of interest. They are mutually exclusive and can't exist at the same time. Retail banks tokenizing their assets are another conflict of interest. Retail banks issuing stable coins is another conflict of interest. Nobody asked for or wants a CBDC, including very powerful players at the top of the food chain. It's the sad inferior operating system that could only come into play given worldwide draconian dictatorship of the deepstate globalism. Oh yes now I see why everyone loves to spout this nonsense. Everyone loves a good deepstate conspiracy theory.
Lot's of people being alarmist over this law that may or may not come into play and "put people in jail for 20 years for using a VPN or trading crypto". Because that's a reasonable expectation. This one has very strong Net Neutrality vibes. Remember Net Neutrality? It was a BIG FUCKING deal when they were trying to roll it back. And they kept trying to roll it back for years and years, and finally they did.
Explain to me how losing net neutrality has effected you in a negative way. There were DOZENS of examples given when the drama was going on in real time. "Oh my god they are going to start charging for this and that; it ruins everything." Guess how many of those things actually happened? I'm struggling to come up with a single one. Nothing has changed.
That's exactly what's going to happen with this Restrict Act: it's going to take FOREVER to pass, and then when it does pass no one is even going to fucking notice it passed. Because guess what? Even though on a technical level they MIGHT be able to legally justify putting you into prison for 20 years because you used a VPN... it's never going to actually happen. Just because the law technically might allow it doesn't mean that actual judges or juries will. Or if it does happen it will only be to scare people and set an example against the worst offenders. It's exactly the same shit we saw when they tried to stop people from pirating music on Napster.
Those IP laws exist to stop corporations and profiteers from making money off of the stolen music, not punish someone for downloading a thousand songs. "Oh sorry that's a $10,000 fine on 1000 songs you owe us ten million dollars." Well guess what? Doris from Kentucky doesn't have fucking $10M in her bank account does she? This is why law is applied from the top down. Does anyone remember all the insufferable alarmists who said that every single person that downloaded music was going to get SWATTED? Yeah, never happened. Learn for your mistakes; it's embarrassing to not.
And then comes the argument about how gold was made illegal 1934, because that's totally relevant to this conversation. Yeah, government stole gold from citizens because they were desperate and in the middle of the Great Depression. What of it? Not only is gold easy to steal but also people steal it because they want it. The government banned gold so they could GET gold. Because gold is good.
The government banned gold to steal gold because gold is valuable. So if we try to make the argument that the government is going to ban Bitcoin because... why? The answer is because they WANT THE BITCOIN. But they don't want the Bitcoin do they? Because publicly they are forced to take the exact opposite stance: that Bitcoin is worthless and no one should want it. This is how politics works: if you try to have your cake and eat it to people are going to call you out and not believe your obvious lies. Trying to compare that with gold during the 1930's is beyond my comprehension skills. Sorry. Not sorry.
The economic environment is moving faster than anyone can keep up. Chaos Theory will continue to accelerate at a wholly unpredictable rate. It is not possible to guess what is going to happen over the next ten years. All guesses are guaranteed to be wrong. Stop guessing and start figuring out how to ride the wave in real time. The moment for game-theory has passed. Apply what you know and try to keep up without wiping out.
CBDC is nothing but repackaged Enterprise Blockchain hogshit. It does not matter that the new authority has more power than the old authority. It's the same shitty database. It's the same nonsensical ledger that won't even work. It's an inefficient hunk of trash that makes absolutely no sense on a technical level. It's a comical conflict of interest to 99% of the powers that be in the entire world. Nobody wants it, but for some reason everyone in crypto is worried about it. The unproductive alarmism is distracting and downright deafening.
Stop giving these people your attention.
Stop feeding the doomsayers.
More importantly: stop spreading their false message.
We have more important things to worry about.
Real things.
So until I can buy a CBDC stop talking about it.
Stop allocating bandwidth to unrealized vapor.
