Surveillance Coins Are Coming
Ғылым және технология
CBDCs will put financial privacy, financial freedom, and security in grave danger. It's a new kind of money that will put the government at the center of digital transactions. It will be a tool for unprecedented financial surveillance and censorship, and the worst part is that basically every government around the world wants to create one.
In this video we chat with Marta Belcher, President of the Filecoin Foundation, about how CBDCs work and are different from the digital money we currently use, why CBDCs are dangerous for a free society, and what you can do to protect yourself as we usher in this new era of digital finance.
00:00 Intro
01:15 How Current Digital Money Works
02:49 How Cryptocurrency Changed Digital Money
04:39 How CBDCs are the Opposite of Cryptocurrencies
05:07 Dangers of CBDCs: Privacy
09:07 Dangers of CBDCs: Censorship
11:36 Dangers of CBDCs: Security
12:00 Worldwide Adoption
13:55 What You Can Do
Privacy is essential for a free society. It's time to challenge the surveillance that's been happening in the traditional banking system for decades, before we lose our rights completely.
Huge thank you to Marta Belcher from the Filecoin Foundation for sharing her expertise.
Learn about her privacy and decentralized technology advocacy work here: fil.org/
Brought to you by NBTV team members: Reuben Yap, Lee Rennie, Sam Ettaro, Will Sandoval, Cube Boy, and Naomi Brockwell
To support NBTV, visit www.nbtv.media/support
(tax-deductible in the US)
NBTV's new eBook out now!
Beginner's Introduction To Privacy - amzn.to/3WDSfku
Beware of scammers, I will never give you a phone number or reach out to you with investment advice. I do not give investment advice.
Visit the NBTV website:
nbtv.media
Watch this video on LBRY!
open.lbry.com/@NaomiBrockwell...
________________________________________________________________________
Here are a bunch of products I like and use. Using these links helps support the channel and future videos!
Recommended Books:
Beginner's Introduction To Privacy - Naomi Brockwell
amzn.to/3WDSfku
Permanent Record - Edward Snowden
amzn.to/305negc
What has the government done to our money - Rothbard
amzn.to/2KMzmcu
Extreme Privacy - Michael Bazzel (The best privacy book I've ever read)
amzn.to/3BLZ1gq
No Place to Hide: Edward Snowden, the NSA, and the U.S. Surveillance State - Glenn Greenwald
amzn.to/2UQmJ4m
Naomi's Privacy Bag: some of my favorite products to help protect your privacy!
Use the Brave browser! brave.com/nao076
USB-C to ethernet adapter:
amzn.to/2lOVBoy
Faraday bag (signal stopping, to protect your fob, credit card, computer, and phone)
amzn.to/3DjIvCP
Data Blocker (if you're charging your phone in an unknown port, use this so that no data is transferred)
amzn.to/2SVh0J2
Computer privacy screen (use your computer in public? Keep your information safe! Choose the size right for your computer)
amzn.to/3F816Sn
Phone privacy screen (don't let people in public see your private data, choose the size for your phone)
Samsung note 10 - amzn.to/3wNtYwb
iPhone XR - amzn.to/3Q8Sq4S
Pixel 6a - amzn.to/3i9dnQz
Camera cover (for computers and phones, so no one can access your camera without you knowing)
amzn.to/3Z1N8Mz
Privacy Tip: Turn off your wifi and bluetooth when you're not using them!!!
Пікірлер: 215
The government's quest for more power and control never ends.
@sotecluxan4221
Жыл бұрын
Thus it is a good idea not to have children. May they be happy with idiotic leftovers.
@hippiestafarii
10 ай бұрын
Like a animal ... We are already fucked because people doesn't understand and don't care
@ChatGPT-ef6sr
10 ай бұрын
Because the incentives and propaganda is very strong. Using these, it feeds from its own society the materials with which it can feed more and more from it. It's us f*cking each other.
Basically, using a CBDC system is moving your trust in your bank, which operates under laws, to the government, which operates under no laws.
@timkaldahl
11 ай бұрын
I beg to differ. Banks are as lawless as government. Who has gone to jail for schemes like the Wells Fargo fake account fraud or the lies during the too big to fail crap?
@MrGhazkull
10 ай бұрын
In addition to that using a normal bank also means putting your trust in the fractional reserve banking system. Not as worse as a CBDC but still horrible because you are dependant on your bank allowing you to withdraw or send the money in your account. Gladly Satoshi Nakamoto gave Bitcoin to the world 14 years ago which is uncensorable, verifiable and permissionless to use if you hold it in self custody on privacy protecting devices.
@azurestarton
10 ай бұрын
We can stop this. Impeach Biden.
@iWalkChris
7 ай бұрын
Superbly stated!
Electronic money and the possibility of replacing actual money is a threat to freedom and security of the people as a whole, privacy is just one aspect and not the most important of the matter. In a society that functions only with electronic money they literally got you, there is no escape, and this is the real purpose of their endeavors
@oczhaal
Жыл бұрын
THIS
Awesome content Naomi! Unfortunately, society seems to be losing it's ability (or desire) to fight this tyranny and just accept whatever the government rams down our throats. We're in a precarious situation...
@BobJones-dq9mx
Жыл бұрын
Just look what the Biden/harris team have done!________56000 new IRS agents
@cheryls3224
11 ай бұрын
We've been dumb down for so long we've fallen into a state of complacency. 🙉 🙈 🙊 In the back of my mind I can't help but think maybe we're 🤔 experiencing the end of one era & the beginning of another ?? 😯 😳
@HuckleBerry476
11 ай бұрын
Society is full of weak, minded individuals. That’s the problem.
As soon as I understood the basics of blockchain technology, I knew it would only be a matter of time before governments and world bankers would want to be in control of it and use it to track every purchase.
@keepcreationprocess
11 ай бұрын
And track behaviour
I discovered your channel a week ago, and I've been absolutely loving all of your content. Education on digital privacy is what people need the most these days, and this channel is a step in the right direction to spread that awareness. I wish you a million subscribers.
@NaomiBrockwellTV
Жыл бұрын
Welcome! You are one more person in that direction! One millions one day :)
Thanks Naomi. Keep up the great work.
Love your videos ❣️ Thanks for bringing this issues forward
Damn, girl, I found your channel few days ago, binge watched most of your videos and now my paranoia is in full bloom.
@NaomiBrockwellTV
Жыл бұрын
😂 Welcome! Just take it one step at a time! No paranoia needed, just awareness so we can make better choices 💪
@MeretrixTricks
Жыл бұрын
@@NaomiBrockwellTV I already took my first step because of you. I'm starting new little business venture and I had to create new email for that purpose so I chose one of services you recommended in one of your videos.
@MeretrixTricks
Жыл бұрын
@@NaomiBrockwellTV Oh, and I must admit one thing - I used to be that person who says - I don't care if anyone spy on me, I'm living simple life, pay taxes, don't use anything illegal, I don't care for social media, I'm not even interested in naughty sites so it's not my problem. But I learned from you that security is still my problem. Thank you for that! Oh, and I love love your hair, beautiful!
@NaomiBrockwellTV
Жыл бұрын
@@MeretrixTricks Glad you're finding ways to improve your setup! 💪
1984 has essentially provided them with a guide. While I understand that it's not feasible to completely halt this, there should undoubtedly be attempts to curb it. It's truly a horrifying scenario.
Always paying in cash is the easiest way to fight for freedom.
@WalkinTheWay
Жыл бұрын
sure, assuming the merchant doesn't take it all to the local bank where it can be collected and poof gone! We need to keep the cash circulating in our communities, that'll be much harder to control
@TwstedTV
11 ай бұрын
@@WalkinTheWay That's TRUE. Slowly but surely, people are going to deposit real money into banks, and banks are then going to send it to Fort Knoxx, And POOF, there goes the money. Basically deleting actually dollar bills and forcing CBDC onto people. People will have no choice, because thee government has taken their dollar bills back and forcing CBDC onto people. They will force corporations to pay their employee's CBDC. And everyone is screwed. This is why I posted my post at the top , for this video. people have to take actions by not using resources. Trust me, the government don't want 380-M people in a country to be homeless. So if 380-Millioon people stopped paying their bills, subscriptions, city services like trains, buses bridges, tunnels by not using those services, and people don't shop for anything at all. The government will think twice. Because this government needs people to make this country run. We have to speak with our wallets.
They'll look into implementing a CDBC, conclude it's too complex or something, and everyone forgets. Then, CDBC would actually begin as a re-implementation of the financial system's plumbing. It would be hard for people to oppose what they can't see. Overnight, your bank account becomes a CDBC account, and your government processes every transaction, but nothing changed for you. Statistics Canada had a project to collect 100% of transactions for a random sample of 500k individuals (unclear whether it's still active) Your bank is just a skin on top of the CDBC with customer service.
@Wlp42
Жыл бұрын
The real issue .... If current USD or the rest of the fake money/fiat money/monopoly money/etc - nothing is tied to gold or a real value anymore so glorified toilet paper. The real issue is when it's a digital system they can print or cause inflation as well as economic depression even faster.
I recently went to my bank in California to withdraw $22k cash that I needed for a project. I was told that they didn’t have that amount on hand and that I needed to make an appointment 7 days in the future to get it. Banks are trying hard to dispense with cash. I hope I don’t live long enough to see a cashless society.
@jbrock8596
Жыл бұрын
Or they are trying to keep you from being scammed.
@Wlp42
Жыл бұрын
No that's fractional reserve banking. Banks can lend out several times what they have in actual deposits instead of only being able to lend out a new additional 22k in debt. ie $110k . The bank is only required to have a quarter or less of the branch accounts in safe. Then if you withdraw or deposit 10k you get flagged reported to IRS you can't be up to anything good...surely you don't just fucking hate distrust etc their created debt system. Literally the system is designed to create a debt hole that will crash n us non millionaires get job losses etc lose assets the rich get richer buying our sale when we are trying to survive. It's just going to be easier with CBDC
@konnorj6442
11 ай бұрын
Wtf kind of flyby night bs bank dosnt have that on hand... that should be pretty cash ffs
@ibnewton8951
11 ай бұрын
@@konnorj6442 -pretty- petty This is California. What can I say? Maybe they had cash on and and lied to discourage me from drawing it out?
@FragmentOfInfinity
10 ай бұрын
Keeping money in a bank is pointless when you can have it in an s&p 500 index fund or LITERALLY anything else that GROWS that money. It's like having a massive 50 acre tilled farm, but you have fenced off a 20 square foot area and only plant crops there.
Thanks, I am gonna share your video right away!
Another superb definition and explanation of the subject`and a very timely warning and call to action to prevent our loss of privacy. Thanks again.
Excellent example of using the Hong Kong protest experience to illustrate the need for privacy. Thanks.
All Govs are working together as one entity. All Govs serve the same purpose…
Ouch... "fresh despair"
I always come back to the Canadian truckers. Trudeau couldn’t handle them peacefully protesting Covid authoritarianism, so he froze their bank accounts to pressure them to stop.
Talk about this with family. It’s a start.
great topic, every government which is pushing CBDC shall be replaced with freedom supporting one
@ED4action
Жыл бұрын
that sounds about right. i'm trying to guess the planned time- line... is it cbdc, then cyber plangimic, then bail in's...... ? opps, i left out c-19 2.0...
Politicians will probably be exempt from expenditure tracking. 🙄
Thank you for this excellent and enlightening presentation Naomi!
Thanks for the update as always!
An upload from Naomi on a Monday is good for your health.
Wonderful video, thanks! Here in Argentina we are close to elections. Our best candidate, Javier Milei, is a libertarian economist who wants to shut down the Central Bank of our country. And give to the people freedom to choose any kind of money. If he wins and become President, we will leave decades of authoritarian governments. Our moto is: "Viva la Libertad Carajo!"
@joeshmoe9978
Жыл бұрын
Good luck ✌️
extremely interesting and extremely worrying. thanks for this amazing video Naomi!
Privacy is a human right. The state asserts that only criminals want privacy, but there is no independence without privacy. This is linked to the right to own firearms. The govt asserts this is only for crime, but there is no freedom without the ability to protect oneself from the state.
Great content again!👌 Thank You Naomi! 👍
Thanks Naomi.
Great video. The greatest tyrannies are always perpetuated in the name of the noblest causes. - Thomas Paine
Thanks!
Thank you naomi 👍🏻
Amazing 👏👏
Very interesting. And very, VERY concerning.
The bitcoin animations and graphs that emerged from your dress, matching the same color, gave a strangely cool effect!
Great content. However, in my experience as a banker and software developer of bank software for my entire career, the government does not have direct access to your banking data as sort of indicated. In a round about way they do get some information with the annual reporting such as 1099s, 5498, 1098 ,and such forms which both the government and the bank customer gets. For the FBI or other law enforcement to see the account holder information, a warrant is required. Up until the early 80s, the banks did report account balances over $100,000 to the FCIC but that was stopped. ACH (Automated Clearing House) transactions could be monitored but I do not know of any case that happening. Banks are required to report large cash ($10,000) transactions and suspicious cash transactions. So, Yes, the government does get a lot of information but they do not have direct access to the banks data and see all of your transactions as some would like you to believe.
Can't wait to watch this
I’ve been involved with computing for decades but only just found your brilliant channel 😅💙🌹
Nice work 👍
economic and monetary freedom is up there with freedom of speech, and a cornerstone to all liberty.
Greetings N 😃 👊🏾 As always, I hope that you and the family are all fine & well 🙏🏾 Very informative content as expected, ☺️ “we can never know too much eh” 😉 thank you very much for this update. It’s just so scary and the reality of it all is that the next generation find this all so convenient not truly understanding the consequences long term 😌 Even here in the UK purchasing any form of crypto is forbidden, as you are considered a gambler and having your bank accounts locked 😡 I won’t be letting it spoil my days, as long as the family are all fine & healthy, I’ll continue educating them on this dystopian world in which we are all now living in. You take care, continue looking after yourself, and I’ll patiently await more content 🤭 Have a blessed day/night 🙏🏾
Awesome information, gorgeous smart women, thank you !👍😘😘
Congrats on 200K subs!
@NaomiBrockwellTV
Жыл бұрын
Thank you!
Naomi Brockwell: NBTV...Thanks Much!
Researching some of my interests a few years back I ran across some books (Wealth of Nations and The Moral Molecule) and resent news (about the United States and how IT’S NEVER DEFAULTED ON A LOAN) the federal reserve knows as a core truth TRUST is a fundamental principle to a healthy economy. It’s none negotiable and one of the reasons it is one of the healthiest economies in the world!
Naomi, I wasn't sure how to communicate with you. In the past, I have posted on your support Assange and the quality of your tech/privacy pieces. I am a retired senior manager/systems designer/software engineer. Now, system security is often implemented in rings or layers. Where each successive level depends on the one beneath it. So, your spreadsheet cannot be secure if your Operating System is compromised. Your operating system cannot be secure if your hardware is compromised. So, ultimately, the base rock of security is your motherboard or perhaps its firmware (either BIOS or now UEFI). And here is the part you will find is interesting. Gigabyte motherboards were just called out for injecting a hidden account into Windows to download their proprietary software. The hidden account has an easy to hack password, and the Web site it calls out to does not even use security certificates. Yes, the created account is not privileged, but if you can run an EXE on a PC, there are ways to get around UAC and ADMIN. I became aware of this as I am building my first high end gaming PC (soon to be 70; if not now, when?). ASUS has the same DEFAULT=ON injection on software downloading in their motherboards (mine: ASUS MAXIMUS Z790 HERO). To verify this story is real, Google "gigabyte backdoor motherboard". I thought with your focus on security and privacy, you would find it interesting that so many PCs are compromised despite the TPM chip, Windows Update, UAC, and security suites; because all of that runs on a shaky foundation. Sorry, I didn't know any other way to reach you, but post a comment.
@softwelveone
11 ай бұрын
About 14 years ago I read a book by John Viega (John was CTO for Software-as-a-Service at McAfee.) The Myth of Security is the name of the book And surprisingly the book made me very level headed about security, I do what I can and stay as informed as I can about Operating System and network security but it’s always gonna be a cat and mouse game… Off the top of my head I can think of at least 2 stories about bitcoin fraud and also regular bank fraud that happens semi-regularly…
The problem is that the vast majority really doesn't give a sh1t about privacy!
I have a card but I still like cash best. People laugh at me when I use it! Find it odd we move so fast towards new things - too fast to think it through sometimes.
Already seeing this in firearm, and accessories, purchases.
Good video.
This has been already in Mainland China 🇨🇳. As for me, screw my bank accounts, digital wallet apps. I exclusively use cash in ALL transactions.
True,true
Great video, and thanks for featuring snippets of my life too. We all need to be living on crypto yesterday!
@NaomiBrockwellTV
Жыл бұрын
thanks for leading the way with everyday crypto adoption!
Well that was quick.
in principle, when you deposit money in a bank you no longer own that money. You don't give the bank "custody" of the money. What you own is an IOU from the bank. Contrast that to the exact opposite that happens when you buy a house on credit. You actually own the house, and the bank owns an IOU, with a guarantee enforced by risk of foreclosure, for lending you the money. It isn't fair that when you deposit the money in the bank that the bank is not required to give you the same kind of guarantee enforced by foreclosure on the bank. Instead, governments decided to insure bank balances at the cost (one way or another) of taxpayers, thus reducing bank risks to deminimis levels and shifting the risk back to everyone, whether they decide to use that bank or not.
@WalkinTheWay
Жыл бұрын
"It isn't fair that when you deposit the money in the bank that the bank is not required to give you the same kind of guarantee enforced by foreclosure on the bank" THIS!! Bingo! you win the interwebs for the week mjmeans! Though sadly you never 'own' the house--- it has steady and endless taxes on it and you can lose all title and equity for just delinquent taxes -- the taxing authority can foreclose and sell and KEEP all proceeds beyond the back taxes owed! there are just now cases being brought to fight this practice but its happening everywhere and has been for years.
@mjmeans7983
Жыл бұрын
@@WalkinTheWay Well, not entirely true. Some US states have laws that require that you get any excess proceeds, minus reasonable fees. But in effect you still have to pay them to take it from you. In some cases your rights might be greater if your deed is directly from federal grant directly to you (or your ancestor) through the 19th century federal homestead act.
there are several misconceptions in this video. the Bitcoin 'ledger' (blockchain) *is* mutable. that is why there is a consensus mechanism that handles blockchain forks. and that's actually the weakness of Bitcoin, that if the rich rulers of the world wanted to cripple and kill Bitcoin, they could easily do it. (easy for them. hard for someone that is not rich.) And the 10-minute update on Bitcoin's blockchain is a misconception too. sometimes it is faster. sometimes it is slower. but it averages a bit faster than 10 minutes. Mike Maloney teaches why every use of the word 'money' is inaccurate here too. Bitcoin and USD are not money. they are currencies. But this is a VERY VERY good video! Thank you, Naomi!
I want to have my money in my hand if i choose so. I want no one to know what i buy.
Fight the banking cartel!!! Fight for financial privacy and freedom!!! Fight for your freedom!!! Don't let them enslave you.
the no longer thickens: it congeals
The alphabet agencies are drooling over the idea of this sort of crap.. needless to say we CANNOT EVER let such be allowed to happen at all nevermind become a defacto standard.
Hi Naiomi, great video. I was wandering if you have heard about the MultiversX guardian system which will allow 2 FA on the block chain. They had a hacker comp a couple of weeks back where they disclosed the private keys to a wallet with $20,000 equivalent. No one managed to gain access. They are going to roll it out live on their Xportal app within the next couple of weeks. I would love to see an interview between yourself and Benimin Mincu or one of the team!
@NaomiBrockwellTV
Жыл бұрын
I haven't heard of it, no
Analytics!
Love from INDIA
CA. truck drivers... what did we all learn?
I disagree that Bitcoin "fixed" the issue because Bitcoin _does_ have conflicts and conflict mediation. That mediation is just trusting the swarm. But that means trusting anyone who has an entire schedule but since most of us will centralize and not host the schedule ourselves it means we are subject to a potential bad oligarchy. To be fair that's slim chances and definitely better than a single actor in most cases.
So CBDC will lead to a dystopia instead of utopia? If so, there little/nothing to fear since virtually all dystopias are unsustainable &/or unscalable, right? As Aung San Suu Kyi said: "It is not power that corrupts but fear. Fear of losing power corrupts those who wield it and fear of the scourge of power corrupts those who are subject to it."
noooo =(
💯💶💴 true
You know what I think
The time has come for a deep dive into the Bitcoin Lightning network. Be your own bank.
A digital form of the USD is irrelevant because.. they can make more. So.. they already have it. It would just be building code into their existing money. Absolutely pointless to any user.
This is why they’re going to start putting tracking & video devices in all newer cars, in order to track your every move!
@Itsme-vo4fx
Жыл бұрын
……and to know where your car is located if stolen so that you can completely disabled it and retrieve it. I guess that’s not a good thing…… for the thieves.
@simon359
Жыл бұрын
@@Itsme-vo4fx I’m talking about a forced breathalyzer test every time you get into your car. I’m talking about video surveillance of you while driving. I’m talking about everything you say in your vehicle will be recorded! You cannot turn this off!
@Itsme-vo4fx
Жыл бұрын
@@simon359 : The breathalyzer test would certainly save lives due to people driving when they shouldn’t, that’s a good thing. However, the rest of the things you mentioned could be problematic and unconstitutional. I’m for anything that will keep drunks from killing innocent people. But, not for invading my privacy, unless backed by a lawful warrant issued for a specific reason such as the authorities listening to a terrorist plotting to overthrow our government.
@WalkinTheWay
Жыл бұрын
uh..what do you think your cell phone is doing all day long?
I kept saying it for years. The USA is turning into a dystopian country. Where the government wants to know exactly every single step you do. How many times you coughed? How many times you sneezed? Did you go to the bathroom? And when? And where? and why? and for how long? Did you spend money on tampons? did you buy a sex toy today? where did you shop? what did you buy? How much did it cost? When did you buy it? This is just an example of whats going to happen if people allow CBDC to happen. The only way for people to stop it, is to do several things (if this is forced onto people). Don't buy anything, nothing at all. The economy needs people to buy things. And when people are forced into a CBDC dictatorship currency and control over your privacy, you have to act by not buying anything at all. Government can not force anyone to buy anything. Also, don't use city services, like bridges, tunnels, subways, busses, parking spaces. Nothing. don't use them. Let the government know that they don't have control and that they need people to make this country work. So if CBDC is forced onto the population, just stop doing everything. Don't buy clothing's, jewelry. Only buy things to survive, which is just food and water. Don't even pay utilities with CBDC. black everything out, also unsubscribe from every subscription you have. Let this government know that everything will stop, if they force CBDC on people, let the government know they can't invade your personal life and privacy. Let them know they violated your 4th amendment, by cutting them off at their knees. Remember the government need us, and when they do this type of dystopian crap on people, we will cease to use any services or buy anything.
But Naomi, CBDC does not have a government behind it. It is an entirely different institution. I do not want to get too technical but money belong to the Central Bank (not government affiliated, at least on paper) and then lent to the Government, which has to borrow it and then return it. And government has little to say about it. Therefore it is even worse case scenario, as this institution may or may not follow the local government What do you people think?
It's so bad.
Well, if putting the government in the center is bad, then why putting the banksters in the center is good? In what way are banksters better than the government?
If money transcation become more privacy focused means criminal will use that like terrorist,hackers,drug dealer and Mafia no they finical track record become total invisible
Those on government social welfare are screwed I guess... 😔 like, spend any of your CBDC on non-essentials (anything besides bread, water, rent, utilities), and watch your payments get cut off... The only solution is a worldwide synchronised toppling of every single government and major corporation... given that is impossible, better hope for a CME to send us back to the stone age! 😅
👍🏻
8:01 we should all join the "free donuts for everyone now!" party. 😋
Can you Talk About Bitcoin Debit cards to buy stuff? i wish Monero had a Debit card.
How do you pay the groceries with crypto? The only answer is to use cash massively.
"You will own nothing and be happy."
good tutorial! If you have 1000 pounds cash in the UK without a withdrawal receipt from a bank, it can be seized at once!
@NaomiBrockwellTV
Жыл бұрын
😱 criminal
But what if Walmart took gold at the cash register?
@NaomiBrockwellTV
Жыл бұрын
that would be awesome
Honestly i will probably only use Bitcoin, ethereum and Monero as a Privacy Coin.
CBDC are not legal tender then. Public AND Private legal tender is what US dollar says on money. CBDC are in violation of this then.
When do you think everyone will have to go to this bitcoin thingy in stead of the real cash . Can you possibly give aproxamently a year or month that this could take place
@NaomiBrockwellTV
11 ай бұрын
I think everyone should start using private cryptocurrency now, or use cash wherever possible.
It'll be tied to your social score
Physical cash is king, tell a friend.
What about privacy coins like Monero or Z cash? They are encrypted... But they might come up with a new rule or law, or something? Barter works for certain things...
@anthonysach-htec5934
Жыл бұрын
The EU and UK are banning the use of Monero and other privacy coins. Kraken stopped supporting Monero in the UK over a year ago. An email reply from Kraken: 'Kraken complies with legal and regulatory requirements in all jurisdictions where it operates. Although we strive to offer our full services to clients all over the world, some restrictions may sometimes apply due to international and local financial/cryptocurrency regulations and/or the cost of maintaining such regulatory compliance in all jurisdictions. We thank you for your understanding.'
I would like chocolate coins but mostly chocolate. 🍫
Sounds like a fast solution to figuring out who has the guns and forming a national registry, among everything else.
Truly terrifying to think this but frankly doesn't surprise me given the nature of those with power. Aka wanting more power / Control, why can't people evolve and think of the world and everything around them with awe and respect, rather than hate and fear. Not to mention the elephant in the room but current cryptocurrencies aren't exactly a good option either, I am referring to the environmental damage there creating from the massive server farms that are built specifically to mine these currencies; and the amount of energy required to run and e-waste generated because a lot of these now require very specialised hardware that can't be used for anything else
When we're hit by a solar storm, and that's guaranteed to happen, and the internet goes down, and your country becomes an easier target for any foreign invasion, what do you think happens with people?
The core idea is to create a one world currency, where one central bank will control every bank account and every transaction worldwide.
Well, the concept of the open ledger of bitcoin is in theory a good one, we have to acknowledge a few flaws that have yet to be resolved. First of all, the longer the coins are used, the more involved the calculations that are needed with com. It’s my understanding that that’s why it gets harder and harder to mind additional coins, there are more and more calculations that need to be done to “reveal“ The coins. But even once all of them have been mined, the ledgers get longer and longer, because they maintain all transactions. Additionally, even with improvements in the underlying system, they are still the matter of how much power it takes to maintain the system. At minimum, unless bitcoin moves to another platform of Blockchain, Bitcoin can’t be the final answer to an open ledger system. What’s more, because it’s an open ledger, that should in theory mean that all transactions are public to everyone. Including the government. I have heard stories, maybe even on this channel, where the Farias folks have been tracked down and traced by their bitcoin transactions. So it doesn’t sound to me like, at least, from a government perspective, It’s the paragon of privacy. But the biggest thing that concerns me from a philosophical perspective is that we don’t actually know who created the original Blockchain system. I presume because of its nature people are able to look at all the code. But I’m not 100% convinced that everyone knows exactly how all of Blockchain works. That is to say, are we 100% certain there’s no back door? Are we 100% certain there’s no time released system that would make all the valley go away? I would much prefer it if people who we know are the ones who create the system.
Maybe the biggest hurtle for using bitcoin is the large fluctuations in price. I don't know if my $10 I release is actually $100 tomorrow or $5 tomorrow. With existing monetary funds the country acts differently in an inflationary or deflationary period. It seems like bitcoin is always jumping from one form to the next. Then use stable coin. They have their issues and as shown it is bitcoin that has wider acceptance at retail establishments. How can we transition to such an unstable currency?
Thankfully the Federal Reserve will be abolished in 2025!