No one can doubt the sincere love of Edward Snowden for the liberté. A man who paid dearly to broadcast the greatest population control program ever.
A character who has always been on the side of cryptocurrencies - and in particular of Bitcoin - who returns today to comment on the cryptosphere, on the one hand which is however the most worrying, also because there is still too much clarity.
We are talking about CBDC - or Central bank digital currencies - something that comes (not without a certain desire for confusion) associated with the world of cryptocurrencies. But this has nothing to do with what we can find for example on the EToro platform (go here to get free unlimited demo account) - that he proposes 31+ cryptocurrencies authentic and have nothing to do with the world of CBDC.
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Snowden attacks CBDCs: a perversion of cryptocurrencies
Even on the pages of Crypto-monnaie.it we have been saying it for months: the central bank digital currencies - already active in China and soon studied in the USA and also in Europe - they have nothing to do with Bitcoin or even with other crypto-currencies if you want Minors. And of the same opinion - in fact quite prevalent among all crypto enthusiasts - is also Edward Snowden, who publishes a long post on his Sub stack, announcing it with a tweeter with cannon cotton:
CBDCs are a perversion of cryptocurrencies, or at least the founding principles of the protocols they operate on - a crypto-fascist currency, explicitly designed to deny you actual ownership of your money, placing the state at the center of every transaction. .
A position which is in fact the summary of what has been around in the cryptocurrency world for quite some time now, also to defend them from the similarities of general press between CBDC Et BTC or other crypto. The points covered in the short essay by Edward Snowden they are all very interesting and worthy, in their own way, to be analyzed.
The trigger is the $ 1 billion platinum coin
The trigger for this discussion was the proposal - to many idiots - to create a unique platinum coin, by the US Treasury, worth $ 1 billion. A movement that would reset de facto concerns about the US Default and that on the other hand, however, demonstrates an embarrassing truth of fiat currencies, or that they are totally at the mercy of politics, at the expense of the insatiable public spending of states.
Their supply, or their supply in circulation, can be modulated at will, even if this at least in the past had been anchored to certain customer needs. savings reference. Which, with the trillion-token “proposal”, certainly failed.
The State at the Center of Everything: Denial of the Bitcoin Philosophy
There is little to discuss about this: the world of cryptocurrencies was born with Bitcoin - and this in turn was born precisely to no longer allow States and central banks to have so much control over our assets and our spending. That is to say subtract the magic button with which central banks can fundamentally increase the amount of money in circulation. Who, as we know, with Bitcoin - and not even with other major cryptocurrencies, it is possible to do it.
The maximum number of Bitcoins in circulation is set at 21 million and that can never be overcome. On the other side of the fence, or in the dollar ecosystem, the US Treasury could afford to strike a token worth $ 1 billion.
Also with regard to the infrastructure for the circulation of these digital currencies, whatever model is chosen, with or without a "private" layer, we will always be faced with a system that will allow central banks and politicians to very easily. knowing every aspect of our life, as well as being able to easily exclude ourselves from the life of the associates, blocking our own portfolio. Here also something very far from Bitcoin and his world. Indeed, which is exactly the opposite.
The parallel with the fall of the Roman Empire
The comparison that Snowden between current monetary policies - which will be helped among other things by the arrival of digital counterparts - and the end of the Roman Empire. The graph we are reporting here - which is precisely taken from the Snowden Special, shows how much silver is in a denier Roman.
And so, if you will, its real value. A degrading money organized by the same state powers, which will soon lead to the collapse of this empire, with Diocletian's last tail stroke, a few decades after the end of the chart, in an attempt to calm prices by law.
Opinions that may or may not be shared - but certainly clever and that should give all supporters of a state digital currency pause for thought. Little doubt that this is not a cryptocurrency. Because at the heart of crypto-currencies there is and will remain the freedom to interact with others without authorization from outside authority, but only mathematics. There is none of that for central bank digital currencies.