Will Bitcoin Fail in a Central Bank Digital Currency World?
Hey SatsCrew,
I hope you are all doing well. We are starting to witness the phase-out of cash and other physical forms of payments before our very eyes. Many places/restaurants won't accept cash, and some places won't accept bills larger than twenties.
There are even some merchants who won't provide change in certain cases (coinage). All of these efforts are aimed at reducing our ability to transact anonymously. In this podcast, I explore Bitcoin & the CBDC world. If CBDCs are rolled out, can't the government make it so you can't transact with Bitcoin? I explore all these lines of thought in this podcast! Specifically, I explore the following important topics:
- CBDCs also known as Central Bank Digital Currencies are permissioned programmable money by the U.S. Government
- The ushering in of Universal Basic Income (UBI)
- Bitcoin on-ramps will inevitably close, making it very difficult for individuals to buy or sell fiat dollars for bitcoin
- Liquidity discussion
- Sin Activities and how CBDCs can prevent those activities
- CBDCs are also potential avenues that will accelerate hyperbitcoinization as many free-minded folks will be looking for digital alternatives
- I think Bitcoin will thrive, but we need to fight & continue education
- We need to not just educate on the benefits
- of bitcoin, by the downfall of life through a CBDC
- People know gold & silver won’t be the future, they will seek immediate self sovereign digital alternatives, and one of the best alternatives is Bitcoin through the lightning network
I'd love to gain your insight into the following topics. Do you think it may play out differently than I outlined it? What do you think the government will do to sell it to the individual? I'd love to hear your thoughts and as always - I appreciate the wealth of support!
Have a good one.
SatsMate
Bitcoin Buys: https://invite.strike.me/2MSTYG
Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before making an investment. With investing, you risk losing money, always read an investment prospectus and make an informed decision before allocating capital to a particular investment
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