Quote from: Abiky on April 27, 2024, 01:56:07 AM

Quote from: Dump3er on April 24, 2024, 10:55:16 PM

I would think that central banks won't collapse for so long until they are not an integral part or the main pillar of the elites' wealth anymore. In other words, the elites would need to shift their wealth into assets that are not affected by central bank collapses. I don't claim that I fully understand the financial system with all its different angles, but my assumption is that the whole banking sector is so deeply entangled with central banks that a collapse of central banks would mean a collapse of the entire financial sector, which mean a collapse of the entire system built on the financial sector, i.e. the world economy.

BTC is now a system outside the existing system. That makes it so interesting to own. Of course a collapse in the global economy would affect BTC because people would suffer from poverty and all the bad things that come with financial distress or let alone collapse. The urge to sell BTC to cover expenditures would certainly create selling pressure for BTC, too. Yet it could be the currency or wealth preservation tool that people agree upon globally. But it would be interesting to do some research as to how a spill over effect of a collapsing central bank system / economy could affect BTC after all.

It's hard to imagine the "Elite" moving out of the existing banking system anytime soon. Especially those with a lot of influence in the government. Corruption and manipulation can be easily achieved on centralized Fiat money, than Bitcoin. The latter is transparent and open to anyone worldwide. You think corrupt politicians and the wealthy (the Elite) would like that? I think not.

Considering that central banks have too much power, don't expect them to disappear anytime soon. They will eventually reset the global economy via the launch of CBDCs. Just you wait and see. All I care about is freedom, privacy, and self-sovereignty. As long as people are able to obtain that with Bitcoin, nothing else matters.

You're right; these "elites," the old guard, love control and power from the money printer. Since they rule fiat currencies, why would they rebel? The system is rigged for corruption, and they won't want to give up its secrecy

Bitcoin and its movement are changing everything, man. Transparent and tough, it won't change. The goal is to reclaim power, not just technology. Definitely a lengthy road. Every time someone realises they can manage their digital money? A little earthquake rattles the system

You're right about CBDCs. Governments are likely adopting digital currencies. That could be the greatest Trojan horse. After getting used to digital money, people start to wonder who's in charge. That leads to actual decentralisation. Your voice, preaching about independence and not having Big Brother watch your finances, will change attitudes