Random thoughts CBDCs
Why I care: working on the front line of #Bitcoin adoption in Guatemala, financial inclusion and custody solutions are top of mind!
** I'm convinced that the STATE (sans El Salvador) will do its best to KEEP the current banking structure in place even with digital currencies.
** El Salvador had no choice and led by a charismatic and smart leader in an already dollarized economy. This gave them the first-mover advantage and freed them from monetary colonialism of the likes of the IMF and World Bank.
** Other countries (Nigeria) will face real issues moving forward. And there will be many more like them.
++** Jekyll Island 2.0 **++
Given the COMPLEX and intricate nature of the worldwide banking system, it is unlikely that they will EVER want Bitcoin to be the unit of exchange. There are just too many friction points they have control over, and they want to maintain those revenue streams.
I suspect that the Too Big to Fail Banks and the FED, with willing accomplices in the media, will continue to marginalize Bitcoin. I think the final line of offense for them will be custody "issues." This may become the new "They want to take your Medicare away" argument. They will convince people that self-custody is too complicated or goad people into believing that "why risk losing your funds forever?" You can try our custodial solution, XYZ.
We are at the cutting edge of custody solutions being part of a FediMint Beta Launch. And now, I'm even more bullish on what Fedi is trying to accomplish (no conflict).
We can't have a Jekyll Island 2.0 where those with the money want to control it because they see the writing on the wall.
Random thought - done
BitcoinLake / Bitcoin Lake/ Lago Bitcoin - Guatemala
npub1tw…f6nwr
2023-02-23 14:03:25
Author Public Key
npub1tw4am7vzwl3akmyg4cwny27x8ltrwajrwrsate872gnpqnvzqd8s3f6nwrPublished at
2023-02-23 14:03:25Event JSON
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"content": "Random thoughts CBDCs\nWhy I care: working on the front line of #Bitcoin adoption in Guatemala, financial inclusion and custody solutions are top of mind!\n** I'm convinced that the STATE (sans El Salvador) will do its best to KEEP the current banking structure in place even with digital currencies.\n** El Salvador had no choice and led by a charismatic and smart leader in an already dollarized economy. This gave them the first-mover advantage and freed them from monetary colonialism of the likes of the IMF and World Bank.\n** Other countries (Nigeria) will face real issues moving forward. And there will be many more like them.\n\n++** Jekyll Island 2.0 **++\nGiven the COMPLEX and intricate nature of the worldwide banking system, it is unlikely that they will EVER want Bitcoin to be the unit of exchange. There are just too many friction points they have control over, and they want to maintain those revenue streams.\n\nI suspect that the Too Big to Fail Banks and the FED, with willing accomplices in the media, will continue to marginalize Bitcoin. I think the final line of offense for them will be custody \"issues.\" This may become the new \"They want to take your Medicare away\" argument. They will convince people that self-custody is too complicated or goad people into believing that \"why risk losing your funds forever?\" You can try our custodial solution, XYZ.\n\nWe are at the cutting edge of custody solutions being part of a FediMint Beta Launch. And now, I'm even more bullish on what Fedi is trying to accomplish (no conflict). \n\nWe can't have a Jekyll Island 2.0 where those with the money want to control it because they see the writing on the wall.\n\nRandom thought - done\n",
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