You’re not going to like what’s coming

Cryptocurrency News and Public Mining Pools

You’re not going to like what’s coming

If there's one inalienable truth it's that governments desire control over all else – and that goes double for control of its citizen's wealth. Who has what, where it's going and how it got there are key checkpoints within the established system.

I know this isn't knews to the OGs out there but we really need to fundamentally understand, in our bones, that Cryptocurrency – of any kind – is seen as (and was created to be) a direct threat to that control.

And what does history teach us about how governments deal with perceived threats to their monetary supremacy? Did we really just expect them to welcome us with open arms and a lollypop?

They have been quietly building infrastructure while we held our coins or played 'day trader' instead of actually building the effective and needed parallel systems that would allow for crypto to function away from a fiat peg.

Central Bank Digital Currencies (CBDCs) are, essentially, the result of governments having eaten our lunch and reverse-engineering our secret sauce; recreating their own centralized version that restores control back 'where it belongs'.

And, especially in the US, people are watching as, one by one, the government strangles the exit ramps for all but a few tightly-controlled exchanges. That's without mentioning the ones that have violently exploded and left the masses begging for more regulation.

If I had to guess, big picture, what will most likely happen is that the next bullrun they will essentially have people offloading their coins into CBDCs.

Now, who knows what comes from that point on but the point of government controlled digital money is that they can specifically set limits on what you can and cannot use it for.

Not trying to FUD here, just saying what I'm seeing and if I were a government seeking control – and saw crypto as a legitimate threat – the first thing I'd do is make it a one-way ramp.

Make it so that you can exit into CBDCs but you can't use that same money to get back on.

Either way, we know that CBDCs are coming in hot and the explicit purpose of them is to grant a superior form of centralized control over their citizen's wealth.

Perhaps it's time to legitimately start building those parallel systems because our little monetary revolution is being both subsumed and boxed in at the same time.

submitted by /u/GoodShibe
[link] [comments]