CBDC’s are coming… Why Privacy is NOT NEGOTIABLE in money

CBDC’s are the absolute death of freedom and choice… don’t believe me? Look at China and their digital panopticon

But it would never happen here, right?

Well, CBDC’s are in the process of being developed by many western countries around the world. including USA, Australia and many parts of Europe. According to the governments

To me it seems obvious that they will usher in CBDC’s under the guise of safety an efficiency… like they did in China.

Cash is already dying, and it won’t take much of a narrative shift to put the final nail in the coffin of cash which from a fiat sense is the last bastion of any semblance of freedom.
 
The narrative will likely include “anti-terrorism, anti-money laundering” and add this on top of any more localised narrative of the day such as “cash transmits covid” or “we need to implement CBDC’s to save the environment from nasty PoW coins” (likely bitcoin will be the scapegoat).

Nearly the entire public besides the remnant will accept this or at least not care enough to do anything about it… They will say to themselves “We already pretty much transact through our bank cards i.e., digital money, so what does it matter?”

Little do they know, this will be the death of freedom

Eventually, tied to their digital ID and social credit score.

Currently, in China, today, purchases are tied to your social credit score which determines what services you have access to, where you are allowed to go and what you are allowed to use.

If for example, you purchase too much alcohol or something else politically decided to be “bad for you or society” then your score goes down and your access to services and basic rights are downgraded accordingly.

Like in China, It will also not take long for activities like protesting against the government to be determined to be a “danger to society” and thus access to even your own money will be cut off. Leaving you with no choice but to endlessly and unquestionable comply with the political narrative of the day concocted.

The truth behind all of this is that the fiat Ponzi is crashing, the power establishment propped up because of fiat is losing their grip over the world, the economy Is crashing (the market is pumping but economic data is woeful.) And frankly, they will need to do something about it.

CBDC’s will be used to incentivise certain economic behaviours to control economic activity such as time limits on your money (increase velocity of money, an important economic indicator), spending will be limited to certain areas or portions of income will be allotted to specific items (growth of those industries and overall GDP, most likely popular and nationally important industries) as 2 examples of financial controls that will likely be introduced.

All in an attempt to paint the picture and manipulate the economic stats for the benefits of the political narrative of the day BUT at the cost of any semblance of freedom.

How do you feel about this? Do you want such controls?

They will likely shape the narrative of CBDC’s as being similar to Monero/Bitcoin however an important distinction that nearly every single normie will overlook is the difference between DLT (digital ledger technology) and decentralised blockchain run by nodes… after all, who can expect a normie to understand the difference and total nuance of it all. They Sound sort of similar right?

This sly and deceptive distinction will allow them to roll in their DLT based CBDC with 1 node… The federal reserve/Reserve bank of the relevant country.

The only solution to CBDC’s and the end of freedom as we know are cryptocurrencies.

To me it appears apparently obvious that the future of cryptocurrencies ABSOLUTELY MUST include privacy… not only from a security point of view but think about average joe moving over to crypto’s, they’re not going to want all their finances and financial history to be available for everyone to see… they’re just not.

Anyone who thinks this is an acceptable solution just has their head so far up their own ass they are blind.

This is where monero comes in.

The squealing toxic bitcoin maximalists who tout privacy through scaling/layers reading this article need to remember…

Scaling is for increasing functionality such as smart contracts(DLC’s)… not for implementing base features that NEED to be built into the base layer and function by default like privacy.

As scaling adds centralisation, when your “privacy” is in the hands of someone else or can be compromised by someone else then its not so private, is it? And without privacy there is no freedom as we discuss below

Without privacy by default, THERE IS NO PRIVACY and without privacy everything is totally censorable.

From the government being able to use chain surveillance to track every purchase, link it all together, decide what is politically convenient on that day and then censor them in the physical world as they deem fit… like they do and have been doing for years on the darknet with bitcoin transactions by identifying and arresting users based on their UTXO history. All the way to miners being able to see who is sending a transaction, checking whether it is a backlisted address as told by the government and thus censoring/blocking that person from transacting… This will happen without privacy, make no mistake. In fact, this already has happened.

The censor ability of these transactions is actually the greatest threat to non-privacy focused chains… It is absolutely inevitable, As we saw in 2021 with the OFAC compliant block on Bitcoin. So, THERE IS NO DEBATING at this point about whether it can happen as it already did happen and will continue to happen

On a side note, anyone who knows anything about either bitcoin, the dark net or privacy knows that you have to be a complete moron to use bitcoin on the dark net. The point here is that we can expand the principles to anything deemed politically inconvenient on the day such as we say with the Canadian truckers, and we can even extend that into the future when we can only buy a certain amount of meat because “cows kill the environment”.

Trust me, that narrative is coming, the head of the WEF, who organises the world largest intragovernmental meeting focusing on environmental sustainability at Davos each year, Klaus Schwab has stated many times and has written in his books that we need to reduce meat production, should ration meat and people should eat bugs as an alternative. Haha yep, lol.

So that is not a conspiracy, that is an empirical fact for anyone new to the handy work of the WEF.

So what is the solution to all of this?

In my humble but I think quite knowledgeable opinion, I believe Monero and other privacy coins are the only hope we have in regards to these issues and are the last bastion of freedom.

Transactions are completely untraceable by anyone, completely uncensorable (in every sense of the world as even miners cannot discriminate and malicious actors cannot find you in the real world) while that the same time, in short, cryptography enables the ability to ensure these transactions are legitimate and don’t encounter one of the many problems that could occur such as “double spending”.

Monero and other privacy coins are the best weapon we have against the dark arts to stand up for what remains of our freedoms.

Bitcoin fundamentally cannot be the answer to true digital cash (fungible money) without upgrades to the protocol. That’s just the facts.

But can it though?

Yes, absolutely it can but coin joins(prohibitively expensive and too hard to mainstream adoption), Lightning network(not private/trusted privacy) and blockstream (Centralised/subvertable) are just not the solution.

Privacy needs to be built into the base layer.

Without it, we are all slaves to CBDC’s.