CBDCs, Bitcoin and a possible black market economy
I’m just thinking out aloud with this post, considering a world in which CBDCs are “enforced” on the population (probably after some engineered global financial crisis). We know that CBDCs won’t be introduced in isolation, almost certainly we’ll get social credit, carbon credit and a digital ID, and we’ll be restricted on what we can buy with our slave tokens (e.g. meat, fuel, clothing, travel) because “save the planet” etc.
Now this is all pretty dystopian, but I have no doubt the WEF/Bilderbergers are planning for this in their sick little fantasy world. If this scenario does play out, and traditional fiat money is gone, replaced with CBDC spy coins, it’s kinda fascinating to think about how society would adapt and what would happen next.
My own take on this is I think we’d see a massive uptick in corruption at all levels of government and the public sector, and you’d have a second “black market economy” spring up pretty much overnight as most people look to bypass the CBDC restrictions to buy things they actually want (e.g. fuel, meat, etc) and not “insect burgers” or whatever other crap it is we are being peddled. And I see Bitcoin as being the primary medium of exchange for this black market (but I also think gold/silver might have a place too, especially in the beginning).
Of course, the governments would look to make it illegal to transact in anything other than their CBDCs, and even forex between CBDCs would be restricted I imagine, but I don’t think this would actually stop people from trying to obtain the items and services that they actually WANT. And indeed, I could see the members of government, police officers, judges and civil service also bypassing their own laws to access the goods and services that they actually want too (hence the corruption I speak of).
The way I potentially see this playing out is that by introducing a dystopian CBDC with all its restrictions, it might actually have the opposite effect in the long term and massively promote adoption of Bitcoin (and freedom), a little bit like how in the Soviet Union there was a secondary economy primarily fueled by US dollar, used to obtain items you couldn’t get with the Soviet ruble – ultimately we saw how the Soviet Union collapsed due to corruption from within.
It’s interesting to think about this stuff. CBDCs are almost 100% guaranteed at this point, and I think global digital IDs are coming too. Social and carbon credit scores won’t be far behind, and so it will be very interesting to see how society reacts and what the consequences will be.
I guess the Tl;Dr is that imposition of CBDCs could have the complete opposite effect and actually be the catalyst to give us freedom (through Bitcoin). It might be a bit scary for a few years though…
submitted by /u/mintybiscuits42