Viewing a response to: @theycallmedan/why-hive-decentralized-governance
CBDCs are rolling out around the world. The banks that are rolling them out ultimately are owned by investors that also own most of everything else, including the physical infrastructure of the internet, upon which cryptos utterly depend. The purposes of the CBDCs can only be fulfilled if they are practically universally adopted, and cryptocurrencies directly oppose that adoption. It is facile for owners of the internet to censor cryptos, and since they need to prevent alternatives to CBDCs, it is predictable that cryptos will be censored. It is great that the understanding of governance has progressed to the point you have herein related, but the resistance to censorship you have considered neglects physical dependence on infrastructure, and the ease with which owners of that physical infrastructure can simply refuse to transmit encrypted data unless they are availed the keys to that data. Not your keys, not your coins. What resistance to that censorship is possible? The only potential for cryptos to resist it is to not be dependent on physical infrastructure they don't own, as far as I can tell. Thanks!
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>The only potential for cryptos to resist it is to not be dependent on physical infrastructure they don't own, as far as I can tell. This is absolutely true. That is why we have to keep taking the long view. We need a lot more infrastructure built before we can reasonably take on the existing system. For now, they are the predator and we the prey. As for CBDCs, they hype with them is dying. Both the Fed and BOJ turned their backs on them for now. These are two of the biggest central banks in the world basically admitting there is no desire for them. CBDCs do not benefit bankers. They primarily can serve politicians, who botched up fiscal policy to the nth degree. Now they want to handle monetary policy.
author | taskmaster4450 |
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Banks and bankers are obsolete, one way (crypto), or the other (CBDCs).
author | valued-customer |
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A very powerful lobby there. Bankers run governments. So do not be so sure [banks](https://leofinance.io/@leoglossary/leoglossary-bank) will be replaced by [CBDCs](https://leofinance.io/@leoglossary/leoglossary-central-bank-digital-currency-cbdc). In fact, those, in my opinion, are going to epic failures.
author | taskmaster4450le |
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