It is ironic that Christine Lagard bashed cryptocurrency as "worthless" while the same could more easily be said about all Fiat currencies which derive their entire value by the mere backing of governments. On a similar note, Garry Gensler denounced cryptocurrencies yet cannot elaborate on what actually constitutes a "security". I recently viewed a video recording of him while he was teaching at MIT. Here he said unequivocally that "Ethereum is not a security" I have to question if the current seige on cryptocurrency in the West, is not unlike China's ban a few years ago which prompted the migration of most bitcoin mining from that country. This occurred with uncanny timing, nearly simultaneous wth the release of their CDBC. This was clearly aimed at forcing their populace to adopt the digital Yuan. We are now witnessing a reintroduction of cryptocurrecy in China through release on the Hong Kong exchange. Clearly, China does not want to be left out of a new technology which has obvious value. It is also clear that release of Western CDBC's has been timed to coincide with the current confusion and reckless treatment of the cryptosphere. There is clearly a huge need for appropriate regulation in Cryptocurrencies, but Western governments are avoiding doing so until they force their populations into utilizing centralized CDBC's which ensure more control, more taxation and more hidden devaluation of their own currencies.
We need younger people to take over
Question authority
We need to get the neutral/unclear over to our side. CBDCs are pure evil.
It is ironic that Christine Lagard bashed cryptocurrency as "worthless" while the same could more easily be said about all Fiat currencies which derive their entire value by the mere backing of governments. On a similar note, Garry Gensler denounced cryptocurrencies yet cannot elaborate on what actually constitutes a "security". I recently viewed a video recording of him while he was teaching at MIT. Here he said unequivocally that "Ethereum is not a security" I have to question if the current seige on cryptocurrency in the West, is not unlike China's ban a few years ago which prompted the migration of most bitcoin mining from that country. This occurred with uncanny timing, nearly simultaneous wth the release of their CDBC. This was clearly aimed at forcing their populace to adopt the digital Yuan. We are now witnessing a reintroduction of cryptocurrecy in China through release on the Hong Kong exchange. Clearly, China does not want to be left out of a new technology which has obvious value. It is also clear that release of Western CDBC's has been timed to coincide with the current confusion and reckless treatment of the cryptosphere. There is clearly a huge need for appropriate regulation in Cryptocurrencies, but Western governments are avoiding doing so until they force their populations into utilizing centralized CDBC's which ensure more control, more taxation and more hidden devaluation of their own currencies.