Comments on: Cash will be no refuge under CBDCs

By: Martin Gorry

Martin Gorry — Mon, 11 Mar 2024 10:58:35 +0000

In reply to Mark E. Jeftovic. I use trezor I

By: greg share

greg share — Tue, 10 Oct 2023 16:26:14 +0000

I understand the big brother aspect 100%, consider this as a positive, dramatically LESS crime and no more tax cheating i.e. hiding cash, criminals won't rob old ladies to get their purse if there's no cash in it, and they won't rob a liquor store or grocery store if there's no cash in the "cash" register, drug deals will be harder, are you going to buy a gram of coke with your debit card or 10 Vicodin the same way? Cash businesses while terrible for those who don't report 50% of their income the flip side is much fewer tax cheats = fewer audits = smaller IRS = more revenue and HOPEFULLY a lower deficit (OK stop laughing), so not totally bad

By: Mark E. Jeftovic

Mark E. Jeftovic — Tue, 03 Oct 2023 00:10:52 +0000

In reply to Josh. You came all the way over here to say that?

By: Martin Gorry

Martin Gorry — Fri, 29 Sep 2023 18:16:53 +0000

CBDC is inevitable we have to prepare I am in Bitcoin gold and silver

By: Josh

Josh — Thu, 28 Sep 2023 14:12:11 +0000

Who the f*** cares about this stupid bullsh*t…right no one…thus, shut up and f*** off stupid moron!!!

By: Mark E. Jeftovic

Mark E. Jeftovic — Sun, 24 Sep 2023 21:49:45 +0000

In reply to Ismail Samji.

Yes, self-custody is a must – and it’s not super easy.

Hardware wallets – I use a Ledger, despite some recent misteps, ok for now, Coinkite is the standard but they aren’t easy.
Researching a few others. (There’s also Trezor, Bitbox)

By: Mark E. Jeftovic

Mark E. Jeftovic — Sun, 24 Sep 2023 21:48:12 +0000

In reply to Tannenhouser.

I’ve written about this at length, and I can see that it’s time to do so again.

The mistake most people make is they believe that the governments of the world are all powerful (see: Covid) and that they simply won’t allow something that poses such an existential threat as Bitcoin to survive.

The reality is that nation states as we know it, and “globalism” as in the current world order, is hanging by a thread and ready to fall apart. The fiat currency is one of the things governments do control, but they don’t even have a lot of optionality with it – they can choose at what rate to debase it, and that’s about it.

Bitcoin is outside of nation state control and thus whether it survives or not is dependent on other things, like market forces, but not the will of the government.

Rather than COVID proving how powerful governments where, it exposed them as incompetent and weak. That’s why they’re scared. That’s why they’re doubling down. They have no other option.

Even if they manage to enact a Great Reset / WEF inspired CBDC regime, it will only be temporary. The movement past centralized nation states is unstoppable now, the incentives are such that decentralized mechanisms, like Bitcoin, will be a necessity of doing business in a multi-polar world.

See:

By: Tannenhouser

Tannenhouser — Sun, 24 Sep 2023 21:06:24 +0000

What happens when Bitcoin is flagged verboten Mark?
TPTB aren't gonna allow it either if it circumvents their CBDC plans.
If we cant convert our BtC to something usable its kinda worthless except for black market transactions, no?

By: Ismail Samji

Ismail Samji — Sun, 24 Sep 2023 19:33:25 +0000

All of this, while making compelling sense, ignores the elephant in the Bitcoin room, namely the question of the safety of custody, whether self or exchange.

Unless I completely missed it, when will we have a custody solution which is as good as my physical wallet in my pocket for bank notes?

Appreciate your wise counsel on this.