The desired approach of the “elites” and other “influential” latecomers to the Crypto party is to refute Bitcoin in an attempt to recreate the “blockchain explosion”. This is a very predictable response. Usually, influential players simply “purchase” new breakthroughs and technologies. Unfortunately, for them, Bitcoin is decentralized and owned by nobody and everybody at the same time.
In such a scenario it is impossible to acquire Bitcoin, the network. So, in an alternative approach, the asset and its counterparts are bad-mouthed, defamed, and criticized publicly in an attempt to destroy credibility. This is not done in isolation. Enter the central bank digital currency (CBDC) and other “brainchilds” that are yet to be revealed. This is however a first. As I said, new technologies are simply “bought”.
Usually, these individuals build empires on new technologies they manage to acquire early. Decentralization, however, does not permit this “business strategy”, and so for the first time, players need to destroy that which they cannot acquire, and somehow try to offer a superior alternative. It’s more a case of marketing a superior alternative than actually providing one. There is however an element at work here that might be considered counterintuitive.
There are obviously those who are passionately opposed to Bitcoin. However, there are also those who secretly oppose it and yet simultaneously encourage its use and adoption. The deceptive motivation behind this diabolical behavior is to “ensnare” in a similar way that a drug dealer will promote a drug that is not necessarily his product. Why? Well, it’s a gateway drug! Once his clients are hooked, he simply moves them his way.
The Initial Phase
In a similar way, Crypto is tolerated by many who have no long-term plans or ambitions for the sector. They are simply tolerating it because it encourages people to begin transacting in a different way. Bitcoin and Crypto are being “leveraged” and utilized as gateway drugs. Unfortunately, these individuals, are yet to learn about the true power of decentralization. Their desired victory is not guaranteed.
To be clear, I am addressing an event that will take years to play out. For some reason, many within the Crypto community believe that every significant event will occur “this year”. Not so, this is a drawn-out resistance/battle that will experience multiple phases. I believe that Crypto will be rather prevalent in the formative years of CBDCs. I do not envision much success for any CBDC though.
In my opinion, Draconian measures are the only way these horrid creations gain any “airtime”. Unfortunately, the majority of society is too engaged in “life”. They don’t spend time in reflection or endeavor to gain any level of insight or understanding. A hard day’s work is followed by a microwave dinner, a beer, and an evening of hypnotism. That’s right, the mind actually enters into a type of hypnotic state when watching TV.
Ok, let me not get ahead of the matter at hand. Anyway, the point is that many will be slowly “eased” into a CBDC lifestyle because they have already been numbed into a lifestyle that is not beneficial to them. Once again, they are yet to understand and realize this.
The Second Phase
I would expect limitations to become more prevalent once CBCDs have been around for some time. Eventually, the aim would be to marginalize Crypto in an attempt to promote a single option. How far this endeavor will reach remains to be seen. We are likely to see a fractionalized form of CBDCs in that certain jurisdictions will be “trendsetters” and others laggers. This will provide citizens with an option of choice.
Certain countries will be swift to get this ball rolling, while others will show little interest. We saw a similar dynamic in relation to covid lockdowns. Certain countries went beyond any form of practicality and common sense, while others were moderate. There were even jurisdictions that paid very little attention, and continued on as normal, with very nominal restrictions. This will always be the case.
It’s no secret that Bitcoin is a superior form of money, in that over time it does and should continue to appreciate. It literally keeps the entire Crypto sector in place and provides a means of escape for many suffering the devastating effects of hyperinflation.
At the end of the day, CBDCs are about control, and nothing much more than that. That which promotes and provides freedoms will eventually face tremendous resistance. As I mentioned earlier, Crypto is tolerated as it makes for a perfect gateway drug into the world of CBDCs. It’s also important to note that Bitcoin faces numerous enemies and that there are numerous agendas within the “world of elites”.
Like any entity or group, there is a struggle for power. From within come multiple desires and ambitions for power and control. There is no single agenda. Perhaps, a single agenda is considered because it stems from the most prominent within the group. However, he who is prominent today, might not be tomorrow. As always, these are merely my own views and interpretations of the future. Catch you next time!