Quote from: witcher_sense on October 12, 2022, 08:24:02 AM

We all have become so accustomed to permissioned forms of money - government-issued money - that it became almost impossible for us to conceive of a world based on a permissionless system where all interactions between individuals can be conducted without the violent interventions of those who have power. Yet, with the invention of the bitcoin decentralized system, we are getting closer and closer to a world where governments and money are separated, which means no single entity will have the power to dictate economic course or to print up money out of thin air for no cost to enrich whoever is close to that printer. The main reason why bitcoin may succeed in helping people to throw off the shackles of the system based on fiat money is that it is completely out of reach for those having power: no matter how wealthy you are or how many friends in high places you have, you won't be able to take away bitcoin from people holding their own private keys, you won't dilute their savings, and you won't enslave them by selling empty promises. People didn't ask for the government's permission to generate a random number, they will also not ask for permission to send these numbers to whoever they want because a decentralized system incentives people to behave in a decentralized way.

With CBDCs on the brink of becoming a reality, I think the hopes of Bitcoin "ruling" the world will be long gone. That's because governments will never allow a decentralized cryptocurrency to take away their power over people's finances. The new Digital Dollar will give the US more power than ever, as it will be able to have complete control over each transaction performed on the ledger. Not only will the FED and the US government be able to freeze or control access to your money, but they will also be able to have a complete overview of your spending habits. Everything will be visible by these entities, putting an end to privacy for good.

Don't except them to be friendly towards Bitcoin and other cryptocurrencies, especially when they'd want to force people to use their "new digital cash system". Bitcoin will survive thanks to its decentralized and censorship-resistant design, but not many people will use it because they will be afraid of government's intervention. There's a dark future ahead of us, so we should be prepared for the worst. Just my opinion