IF YOU USE MONEY, THIS AFFECTS YOU
This is the most important vote in monetary policy history since the fed was created.
Don't get comfortable. Do not ignore.
Republicans introduce bill to stop central bank digital currency.
CBDC are ALREADY IN EFFECT IN CHINA, NIGERA.
THEY MUST NOT HAPPEN HERE.
CALL YOUR REPS AND SUPPORT THE BILL TO STOP THIS.
Its not just surveillance, coded currency gives the government CONTROL OVER WHAT YOU BUY.
SUPPORT STOPPING THIS BILL.
Previous Treasury Secretary STEVE MNUCHIN is AGAINST CBDC. Says they are unnecessary.
To truly understand the history of bitcoin, and why it was inherently never intended to be what a most of us dream about - the people's currency - you have to understand the history of the code base
It's not about whether IBM or a group of programmers who have taken the responsibility.
It's about the inherent flaws in the technology, that forces the community to take sides, and incentivises the money group to get their way rather than the early adopters or joe nobodies.
The inherent flaw - the age old question of a distributed consensus - is that it is impossible to create a blockchain that is fast, cheap, secure and decentralized. You always have to make a tradeoff. Bitcoin traded off fast and cheap - hence allowing control by those who have most computing power. XRP traded off decentralized, allowing control by the "trusted nodes".
Ultimately a crypto technology that can be "people's currency" in its truest sense, still does not exist, at least publicly.