The digital currency thread

[Mauritio]

Step by step...

Visa Partners With ConsenSys to Help Bridge CBDCs With Traditional Finance

The payments giant envisions customers eventually being able to use their CBDC-linked Visa card or digital wallet anywhere that Visa is accepted.

www.coindesk.com

 

[Mauritio]

Bank of russia wants to ban cryptocurrencies.
(Bank of Russia Calls for Full Ban on Crypto)

This is what you would do when you want to implement your own CBDC.

And as we know Putin talked about russian CBDC already in 2017...

"Russia’s President Vladimir Putin said in October of 2017 that his country would issue CryptoRuble, a state-sponsored cryptocurrency."

 

[Vileplume]

“The report says cryptocurrencies are volatile and widely used in illegal activities such as fraud. By offering an outlet for people to take their money out of the national economy, they risk undermining it and making the regulator's job of maintaining optimal monetary policies harder, the report says.”

In other words, cryptocurrency makes it hard for your government to control what you do with your money. Regular currency is widely used in fraud too, it’s just that using regular currency for fraud favors those in power because they can pick and choose who they crack down on.

 

[Mauritio]

“The report says cryptocurrencies are volatile and widely used in illegal activities such as fraud. By offering an outlet for people to take their money out of the national economy, they risk undermining it and making the regulator's job of maintaining optimal monetary policies harder, the report says.”

In other words, cryptocurrency makes it hard for your government to control what you do with your money. Regular currency is widely used in fraud too, it’s just that using regular currency for fraud favors those in power because they can pick and choose who they crack down on.

Exactly

 

[Mauritio]

A bit of vagueness by the US on its stance on CBDC

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Mauritio]

Bank Of Mexico Announces Its Own Central Bank Digital Currency By 2024

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Mauritio]

Adding Iran to the list ...

Iran to reportedly pilot central bank digital currency soon

At present, nearly 100 nations are working on a sovereign digital currency.

cointelegraph.com

 

[Mauritio]

Here is a useful tool to explore CBDC's

Central Bank Digital Currency Tracker

Our flagship Central Bank Digital Currency (CBDC) Tracker takes you inside the rapid evolution of money all over the world. The interactive database now tracks over 130 countries— triple the number of countries we first identified as being active in CBDC development in 2020.

www.atlanticcouncil.org

"87 countries (representing over 90 percent of global GDP) are exploring a CBDC. In May 2020, only 35 countries were considering a CBDC."

"9 countries have now fully launched a digital currency. Nigeria is the latest country to launch a CBDC, the e-Naira, the first outside the Caribbean."

"14 countries, including China and South Korea, are now in the pilot stage with their CBDCs and preparing a possible full launch."

 

[Mauritio]

The new digital ID/ wallet will most definitely feature CBDC too so I'm posting this here as well.


View: https://twitter.com/SikhForTruth/status/1484849526133374976?t=TCtjXCsRlFMTk_8HuBjIiw&s=19

 

[Mauritio]

 

[Mauritio]

Bank of russia wants to ban cryptocurrencies.
(Bank of Russia Calls for Full Ban on Crypto)

This is what you would do when you want to implement your own CBDC.

And as we know Putin talked about russian CBDC already in 2017...

"Russia’s President Vladimir Putin said in October of 2017 that his country would issue CryptoRuble, a state-sponsored cryptocurrency."

Following on to this

Russia might allow something like a gold-backed CBDC.

"The gold-backed stablecoin could be similar to a golden ruble, ..."

There have been rumors for a long time that Russia or china are going to release a gold-backed CBDC.
This would actually be one the less shitty scenarios, since everything involving gold is a lot more stable.
Russia has been stacking gold like crazy in the last years and only has a fraction of the dollar that it used to have, as a reserve currency.

Russia May Allow Crypto Mining and Gold-Backed Stablecoins, Lawmaker Says – Regulation Bitcoin News

Russia can legalize crypto mining and stablecoins backed by gold under government control, a member of the Russian parliament has suggested.

news.bitcoin.com

 

[EchoTango]

The main thing is to distinguish between centralized vs decentralized currency. A true decentralized currency can survive cyber attack, because like a fractal, the entire database can be restored with the information contained in one node. Think of a rhizome like ginger. You can grow a whole new plant from a node of the root.

Obviously a centralized currency (CBDC) will be more of the same corruption, only it makes it easier to control many other variables at the same time with a digital ID linked to a persons money, social credit score, carbon emissions, vax status etc. More pyramid schemes.

 

[Mauritio]

only it makes it easier to control many other variables at the same time with a digital ID linked to a persons money, social credit score

Exactly, and it relies on the trust and compliance of the people. And the WEF is well aware that people dont trust them, so we'll see how they make people use it.

 

[Mauritio]

New African payments system for cross-border deals negotiating with more banks

NAIROBI — A new pan-African payments system created to facilitate trade on the continent is negotiating with more central and commercial banks to join the…

financialpost.com

 

[baudoman]

Hey guys..
IMO: Bitcoin is 'opt out' money. Meaning, opting out of the fiat system. State run CBDC's are just TPTB attempts to replicate that in a way where they can retain control, and shouldn't be compared to Bitcoin at all!

A good podcast I've found that has a good balance between a lot of the stuff we talk about here (vaccine mandates, etc.) and Bitcoin: Podcasts
Good one to get started with most recently is:
Podcast #295

 

[Mauritio]

Great article on digital currencies

War on Cash: The Digital Dollar | SchiffGold

schiffgold.com

 

[Mauritio]

Vladimir Putin Offers Hope for Crypto in Face of Central Bank Call for Ban

Crypto's risk must be offset against the country's "competitive advantages" when it comes to mining, Russia's leader said.

www.coindesk.com

 

[Kayaker]

Vladimir Putin Offers Hope for Crypto in Face of Central Bank Call for Ban

Crypto's risk must be offset against the country's "competitive advantages" when it comes to mining, Russia's leader said.

www.coindesk.com

How do they want to enforce that? People in the black market can easily trade crypto for cash.

 

[Mauritio]

How do they want to enforce that? People in the black market can easily trade crypto for cash.

Enforce what ?

 

[Kayaker]

Enforce what ?

A ban against cryptocurrency.