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RE: The Social Credit System Is Coming...

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GHAWG 🏍️
@magnacarta
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1 min read

CBDCs will make it possible for "Universal Basic Income" to be rolled out on a massive scale. In theory, everyone qualifies for UBI.

In practice, strings will be attached. This implementation of UBI will be used as part of the surveillance state, and if any red flags are caught then whoever has those flags will be penalized in some way or other: reduction in UBI; inability to use UBI; programmed worthlessness of the money in the UBI account; notification to appropriate authorities.

Cryptocurrency may co-exist with CBDCs for a while, but I can't see CBDCs permitting this co-existence indefinitely; at some point governments will ban cryptocurrency in ways that can't be done today. What I want to know is how cryptocurrency will survive this inevitable faceoff. So far I haven't seen anything explaining how.

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