The biggest THREAT to our financial freedom – CBDCs ??
Question for you:
Have you noticed governments around the world are trying to take away your privacy, your self-severity, and your ability to transact freely?
*Four examples, Australia, England, China, and America.
Australia is introducing government-regulated digital ID. This is scary.
State government is about to launch a new form of digital ID that means you’ll never have to hand over your personal details to anyone again. It will all be stored in the Service NSW app on your phone, which will prove you are who you say you are.
- Scanning his license, passport, and Medicare card, in less than three minutes, the minister proves he really is, Victor Dominello. This is unquestionably the Holy Grail. This is your first look at the State’s new digital ID.
- This is a huge step forward in giving back people control over their data, control over their identity.
Just like CBDs, the convenience factor is a ruse to secure digital servitude.
*Personal credentials will be stored on your device. No IDs need to be handed over. And that means keeping your address and birth date to yourself. If you need to hire a car, rent a property, set up a bank account, check into a hotel, or prove you’re over 18 to buy alcohol or attend an event.
*Speaking of CBDs, in China they’re putting expiration dates on their digital yuan, forcing people to spend and not allowing them to save. CBD’s are slavery, Bitcoin is freedom.
*The digital yuan is meant to be faster than using credit or debit cards on digital wallets like Apple Pay. Plus, there are other incentives, like zero transaction fees for merchants, and one day it’ll even work offline. But one major difference is that the digital yuan is 100% trackable by China’s central bank. And when it’s launched nationwide, it could impact not only citizens, but also foreign companies operating in the country.
*The central bank will know who’s paying, how much they’re paying, when they’re paying, where they’re paying, and then to analyze the patterns of payment.
For example, Phonuse says China’s central bank could put an expiration date on the digital money, similar to how lottery winnings have to be spent before a certain date.
*It means that the Chinese government could set up a whole lot of things to have your currency maybe valid or invalid based on its own priorities. This is almost like handing over the keys to your business or to your finance department in some ways because you really can’t control what at the end of the day may happen with the funds that you’re holding.
*In England, they’ve started to say the quiet part out loud. Listen to UK former Chancellor of Treasury and Defense Secretary Philip Hammond talk about regulating Bitcoin before it becomes too big and they lose control.
* Talking about Bitcoin, will it be regulated? Are you interested in Bitcoin regulation?
*I am interested in Bitcoin and the Bank of England, as you know, among the central banks, has been leading on looking at Bitcoin. It’s a very interesting new development. I think we should be cautious about Bitcoin and possibly we do need to look at the way we regulate this environment before the amount of outstanding money. The amount of outstanding Bitcoin becomes large enough to be systemically important in the global economy. It’s not there yet, but it could get there soon.
*By the way, make sure you subscribe to our channel’s daily videos just like this, keeping you informed on the entire cryptocurrency market if you’re interested in making money in cryptocurrency, subscribe to our channel’s daily videos. And by the way, all of these central bank digital currencies are sold to us as anonymous, but they’re not anonymous. Well, it’s anonymous to us, but it’s not anonymous to the governments who surveil us. Let’s go back to China, for example, collecting user data.
*This digital yuan is less about money and more about data.
* Yalya Finuci is an adjunct senior fellow at the nonprofit Think Tank Center for a New American Security in Washington, D.C. He’s been studying digital currencies for the past six years. And he says China’s new currency is not as anonymous as it claims.
* Central Bank has talked about there being controllable anonymity, which really means it’s anonymous horizontally, right? The users that are using it don’t necessarily know the identity of everyone that they’re interacting with. But vertically, it’s not anonymous. The central bank is at the top with information on all the users.
* China’s central bank has promised to protect users’ privacy. For now, people can choose whether they want to use digital currency. But the central bank has said that as the country becomes a cashless society, it expects the digital yuan to become the primary way to make transactions.
* Now let’s talk about America. Of course, we should start by mentioning the Federal Reserve.
* At the end of the day, there’s only one solution to this problem. And that is Congress, whatever else may happen will happen, but Congress really needs to raise the debt ceiling. That’s the only way out.
* Did you know that the Federal Reserve is not a government agency, but instead a private agency that controls the entire money supply in America? So why do they call it federal, if not to deceive? In fact, just yesterday, the Federal Reserve Chair and Congress were pondering how CBDCs could send Bitcoin and crypto to zero. It can’t, well, not like what they think, but scary conversations nonetheless. Because Bitcoin gives people freedom, and they don’t like that. Let’s actually focus on this example though. Two big-to-fail corporations in America in bed with the US government, making it harder for crypto to thrive, giving crypto a disadvantage compared to regular tech companies. In this case, Apple. Apple deliberately made it hard for Uniswap to function on its App Store. And instead, Apple approves two fake Uniswap apps, disgusting.
* And in short, why is this going on? What’s happening to us? Look, there are plenty of wallets, there are plenty of mobile wallets in the App Store that allows swapping and fundamentally the same features that are wallet allows. But Apple’s kind of deliberately opaque and inconsistent, it seems, in how they’re applying roles to crypto companies and how they’re thinking through what they want to release in the App Store. We understand that they care so much about privacy and user safety. We do too. But our app actually does a lot to keep users safe to screen out things that might put them at risk to really protect users. And ironically, in the period that we were actually waiting for Apple to approve our app, they actually approved two fake Uniswap apps. So it just sort of illustrated the inconsistency. And the inconsistency, what seems to us to be really just kind of opaque and unfair treatment, illustrates the importance of open platforms.
* Do me a favor, post this video on social media, send this video to a friend who needs to wake up. People don’t realize the world is trending less private, more centralized, and with more permission. We need alternatives, permissionless, censorship-resistant, and uncomfortable. Subscribe to our channel because we keep you updated on all of this on a daily basis. See you tomorrow. Get your tickets to NFT LA. It’s now called the outer edge. It’s the second time they’re putting on this NFT and Web3 event in LA. March 20th through 23rd. Use code Altcoin daily 10% off. Hope to see you there and will be speaking or moderating some panels. It’s going to be awesome. Get your tickets to Bitcoin 2023 Miami May 18th through 20th Miami Beach this year. Use code Altcoin daily 10% off. This is the biggest Bitcoin conference of the year. Ticket prices continue to increase as we get closer to the event. Use code Altcoin daily 10% off. Get your tickets now.