Why Bitcoiners Fear CBDCs – Bitcoin Magazine
This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, Q is joined by Lord Norris, Senior Vice President of Global Partnerships at Going Parabolic Ventures, to discuss the looming threat of central bank digital currencies (CBDC ).
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Why isn’t everyone afraid of CBDC?
Lord Norris: As for CBDCs, which… no one knows anything, and they’re not that worried about it…
I guess what I want to do [is] do you, when you meet random people, when you talk to them, is this something people are aware of? Because when I bring it up, people are like, “oh no, that’s not…that would never happen here.” And I’m like, all signs lead to: They want to start pushing this. And you saw the memo from the Federal Reserve, like “we’re looking into it” and all these things that… I’m a little lost and maybe it’s because I’m in the Bitcoin bubble world that I know about this.. .
Q: Specifically for CBDCs, with my normie friends, certainly not. I still have a lot of ties to normieland, to be completely honest with you. And it is shared. Half of my friends literally won’t stop asking me Bitcoin or crypto related questions. And then the other half simply has no interest in having those kinds of conversations with me…
It’s unnerving… IF the government wants to roll out a CBDC, I can choose whether or not I interact with that technology and how I interact with that technology. But when I worry about, will they introduce this state-controlled monetary surveillance technology? Ultimately, no. It is beyond my control.
What is a CBDC, exactly?
Q: Really, all a CBDC is government money that they can see every transaction in real time…
It will now only be someone with a government job, so imagine a DMV worker who is going to watch what you spend your money on. And if you spend your money at the wrong time of day, go to the wrong place, spend it on the wrong thing, or this guy just, I don’t know, slips on his damn keyboard, by accident, like, now suddenly, like your wallet is closed.
Imagine the DMV checking your wallet
Q: So imagine now, instead of having to call like a bank where customer service is actually part of how these banks compete with each other, now you suddenly have the government that doesn’t care because they are everyone’s bank. Everyone must use them.
Imagine getting banned, really just an accident. Someone hit the wrong button and you can’t access your money because it’s government money, but you have to wait like a DMV line almost to get your wallet unlocked.
It’s a scary proposition.
