It's also true that about 30% of the Nigerian population is the middle class. It wasn't so much this class that rejected the CBDC, it was the better than 50% of the population that relies on cash payments. A good proportion of this have no bank accounts. I think it took some time before the middle class got on-board with rejecting the CBDC mandate. This was well after the riots started.
In the United States, who doesn't have a bank account? What if tomorrow a decree is made that all paper currency will be exchanged into CBDC? And paper currency will no longer be recognized. The FR would provide a drop-dead date to exchange all paper denominations in private possession to be turned in and exchanged for CBDC. This is similar to what they did with gold in 1933. Would Americans take to the streets like they did in Nigeria. They left over half the population out to dry..... and didn't care what happened to them. This is what led to the riots. Would we see the same here?
What do you mean? China has waffled on Bitcoin many times. Heck just 6 days ago they recognized Bitcoin as a digital currency after supposedly “banning” it. Im pretty sure theyve “banned” it like 6 times. People are still using it and mining it there despite the government bans. Also id suggest watching this cointelegraph video about how bitcoin is being bought and sold and gaining ground in Cuba.
You just confirmed, as I did, that CCP has banned it. I'm not aware that just 6-days ago they recognized Bitcoin as a digital currency. I'd like to see more info on this. However, previously the CCP most certainly did ban it. Digital anything is vaporware to me.
My point is that bans of Bitcoin dont work and people continue to use it and find ways to use it. Meaning the ban is meaningless and therefore is not a point to be made by saying “see what the CCP did”.
I recognized your point. However, it doesn't mean long term success. I remember back in the early 1990s the Internet was spoken of much in the same manner. Would anyone disagree that the Internet is a mere shadow of what it once was? Who would have ever thought Google usurping 90%+ of the Search market? There is a reason why AI is being implemented. The monopoly of fractional reserve banking are not going to simply lay down on this. So, Bitcoin in one way or another will be controlled.
It'll be "hey friends, move over to CBDC and your student debt doesn't move over to dollar 2.0"
And also, all food stamps are now available in dollar 2.0 only.
And everyone will agree with exchanging their freedom for the handouts because they've been trained since at least 1987 to accept bailouts and handouts.
Yep. This is why the middle class in Nigeria didn't catch on to the CBDC snare until well after the 50%+ Nigerian population started revolting. Many of those 50% don't use banks. The middle class was all good with CBDC because they had bank accounts. It was the other 50% that seemingly red-pilled them.
Assuming there’s a vote—not a decree, or a mandate, or a regulation by one or more powerful unelected bureaucrats. Sorta like with the vaxx, on which nobody voted. At least having a vote makes public opinion public, even if the government tries to overrule the outcome.
Where I live, they wanted to force plastic face shields on top of masks. People also said no, fuck that, with old people blatantly screaming at guards in malls if the guards so much as try to get them to put a face shield on. They backed off.
Glad they pushed it off for now but it is inevitable. This is how they trial run this stuff…install it somewhere like Nigeria, see the reaction and complaints, make adjustments and try again until they get installed somewhere successfully and then are able to promote it elsewhere and say “see how great its working in Whereverstan?”
Africa is adopting bitcoin fast. Jack Dorsy is doing a ton of work out there. Seems as if the west wants to do CBDC. and BRICS/ africa central and South America want to do bitcoin.
I mean the thing is a CBDC can exist alongside Bitcoin…Bitcoin can act as a hedge against the inflation of the CBDC. I mean this is exactly why people in Cuba are starting to transact in Bitcoin.
Trying to figure out the logistics of saying no. Voting doesn't matter for stopping the introduction. I suppose the alternative is to refuse to spend any cbdc issued to us? Our paychecks are already digitally issued, and much of the US relies on electronic credit card transactions.
If our FRN are going to be replaced by treasury notes, then the FRN will be demonetized. This is a problem if treasury notes are issued only as a digital currency.
We're in no man's land here. The only way to reject the digital currency is by gold, silver, or barter transactions in a local economy. Is the US population going to reject the use of the internet marketplace?
Dedollarization looks like gold, silver, and Bitcoin. Hoarding fiat FRN will be useful until the inevitable demonization.
99.5% said no. That’s fantastic.
… and they still moved forward,
… saying what?
“Your vote doesn’t matter because it’s dangerous to our democracy”
Yeah but if everyone knew we were all on the same side it would not stand. We dont HAVE to let them "rule". This isnt the middle ages.
But but but but but but but but but but who will regulate our lives into olbivioin!?!?!?!?!?
HOW WILL WE PAVE THE ROADS?!?!?
It's also true that about 30% of the Nigerian population is the middle class. It wasn't so much this class that rejected the CBDC, it was the better than 50% of the population that relies on cash payments. A good proportion of this have no bank accounts. I think it took some time before the middle class got on-board with rejecting the CBDC mandate. This was well after the riots started.
In the United States, who doesn't have a bank account? What if tomorrow a decree is made that all paper currency will be exchanged into CBDC? And paper currency will no longer be recognized. The FR would provide a drop-dead date to exchange all paper denominations in private possession to be turned in and exchanged for CBDC. This is similar to what they did with gold in 1933. Would Americans take to the streets like they did in Nigeria. They left over half the population out to dry..... and didn't care what happened to them. This is what led to the riots. Would we see the same here?
Yes. Most of the world uses cash and many barter. They don’t have bank accts but they have cell phones. Hence the bitcoin statement. Be your own bank.
Except the central bankers will make CBDC the only legal App on sell phones. Look what the CCP did to Bitcoin.
What do you mean? China has waffled on Bitcoin many times. Heck just 6 days ago they recognized Bitcoin as a digital currency after supposedly “banning” it. Im pretty sure theyve “banned” it like 6 times. People are still using it and mining it there despite the government bans. Also id suggest watching this cointelegraph video about how bitcoin is being bought and sold and gaining ground in Cuba.
https://youtu.be/UPp0Xbk4bFo?si=an4-uZr779INva5Z
You just confirmed, as I did, that CCP has banned it. I'm not aware that just 6-days ago they recognized Bitcoin as a digital currency. I'd like to see more info on this. However, previously the CCP most certainly did ban it. Digital anything is vaporware to me.
My point is that bans of Bitcoin dont work and people continue to use it and find ways to use it. Meaning the ban is meaningless and therefore is not a point to be made by saying “see what the CCP did”.
I recognized your point. However, it doesn't mean long term success. I remember back in the early 1990s the Internet was spoken of much in the same manner. Would anyone disagree that the Internet is a mere shadow of what it once was? Who would have ever thought Google usurping 90%+ of the Search market? There is a reason why AI is being implemented. The monopoly of fractional reserve banking are not going to simply lay down on this. So, Bitcoin in one way or another will be controlled.
It's not even that.
It'll be "hey friends, move over to CBDC and your student debt doesn't move over to dollar 2.0"
And also, all food stamps are now available in dollar 2.0 only.
And everyone will agree with exchanging their freedom for the handouts because they've been trained since at least 1987 to accept bailouts and handouts.
Yep. This is why the middle class in Nigeria didn't catch on to the CBDC snare until well after the 50%+ Nigerian population started revolting. Many of those 50% don't use banks. The middle class was all good with CBDC because they had bank accounts. It was the other 50% that seemingly red-pilled them.
Whoa... canceling currency exposes them easily
Nigerian princes can't scam americans with CBDC.
Assuming there’s a vote—not a decree, or a mandate, or a regulation by one or more powerful unelected bureaucrats. Sorta like with the vaxx, on which nobody voted. At least having a vote makes public opinion public, even if the government tries to overrule the outcome.
Where I live, they wanted to force plastic face shields on top of masks. People also said no, fuck that, with old people blatantly screaming at guards in malls if the guards so much as try to get them to put a face shield on. They backed off.
Glad they pushed it off for now but it is inevitable. This is how they trial run this stuff…install it somewhere like Nigeria, see the reaction and complaints, make adjustments and try again until they get installed somewhere successfully and then are able to promote it elsewhere and say “see how great its working in Whereverstan?”
Africa is adopting bitcoin fast. Jack Dorsy is doing a ton of work out there. Seems as if the west wants to do CBDC. and BRICS/ africa central and South America want to do bitcoin.
Eyes on Argentina elections.
I mean the thing is a CBDC can exist alongside Bitcoin…Bitcoin can act as a hedge against the inflation of the CBDC. I mean this is exactly why people in Cuba are starting to transact in Bitcoin.
And Costa Rica Nicaragua El Salvador
We have etherum. Why CBDC? It’s all about the climate behavioral control. CBDC will be programmed to only be able to purchase cricket protein 🤣
Nigeria is one of the leading countries in the world for Bitcoin adoption.
Excellent. I will pass this on!
There you go. Barter bridge.
"When the frog jumps..."
Hmmm.
u/#pepedetective
Saying no is the only response but it may not be that easy. The Nigerians had to take to the streets as well.
Trying to figure out the logistics of saying no. Voting doesn't matter for stopping the introduction. I suppose the alternative is to refuse to spend any cbdc issued to us? Our paychecks are already digitally issued, and much of the US relies on electronic credit card transactions.
If our FRN are going to be replaced by treasury notes, then the FRN will be demonetized. This is a problem if treasury notes are issued only as a digital currency.
We're in no man's land here. The only way to reject the digital currency is by gold, silver, or barter transactions in a local economy. Is the US population going to reject the use of the internet marketplace?
Dedollarization looks like gold, silver, and Bitcoin. Hoarding fiat FRN will be useful until the inevitable demonization.