The Crypto Medium https://cryptomedium.org A Cryptoverse navigator for all things Crypto. Tue, 31 Jan 2023 20:25:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.2 THE DECENTRALIST ISSUE 3: HOW TO ESCAPE THE MATRIX https://cryptomedium.org/the-decentralist-issue-3-how-to-escape-the-matrix/ https://cryptomedium.org/the-decentralist-issue-3-how-to-escape-the-matrix/#respond Mon, 30 Jan 2023 22:51:30 +0000 https://cryptomedium.org/?p=10844 THE DECENTRALIST ISSUE 3: HOW TO ESCAPE THE MATRIX Read More »

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HI THERE DENIZENS, AND WELCOME BACK!

SO, LET'S discuss How to escape the matrix

In The Decentralist Issue 3: How To Escape The Matrix, I’ll describe The Matrix, describe why you’re trapped inside it and how to exit.

“The Matrix is a system, Neo. That system is our enemy. But when you’re inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.” **~Morpheus,**The Matrix

WHY SHOULD IT MATTER?

You know something’s wrong. You can feel it.

You don’t know what it is and you can’t identify it

Yet, you sense it all around you

You can’t shake it

Even worse, It’s only intensifying…

This is because the Matrix has you and you’re beginning to realize it.

But don’t worry, understanding this is a good thing.

When I discovered this for myself in 2019,

I quickly learned that I was not alone

And neither are you

When I began my journey and I made a roadmap

A map for others to use when they were ready to leave

But understand this; the journey will require that you to;

-tame your ego

-self reflect

-take accountability

But I'm remiss, back to my point;

1. ACCEPT THAT THE MATRIX HAS YOU

Inflation = Debasement = Theft

Because theft is built into the base layer of our money, manipulation is required for the system to function

This means that Capitalism, the free market, and Democracy itself are Ideas that never really existed

No one, not even AI, can justify its benefit for the 99%

2. UNDERSTAND WHAT THE MATRIX IS

We live in Oligarchies, not democracies. In fact, although we’ve come close in the 1950s, we’ve never truly lived in democracies.

We are ruled by a few “prestigious” institutions that are highly integrated

This is The Matrix

3. UNDERSTAND WHAT THE MATRIX WANTS FROM YOU

The Matrix. wants you fat, dumb, lazy, poor, angry, and scared

Because you’re more compliant this way.

4. STOP GIVING YOUR POWER AWAY TO AUTHORITY

From a very young age, most of us were taught to doubt ourselves and do only what authority commands us to do, even if we don’t feel like doing so. Now, as adults, we don’t trust ourselves, and so we choose to let others have power over our lives.

We vote for politicians who do nothing but lie to us in order to satisfy their inner hunger, being under the illusion that by voting we are granted the power to choose our future when in reality the choices we are presented with are very limited and almost exactly the same. So we allow a small group of people to manipulate us for their own personal gain, foolishly believing that they want to contribute to the betterment of society.

If we truly want to start creating a positive change in the world, we need to stop giving power to a few others and hold them responsible for our lives, and instead start taking responsibility in our own hands so that we can become the creators of our destiny.

5. THE ECONOMIC SYSTEM IS A FRAUD SO QUESTION IT

Money, in essence, is created out of debt, thus creating the illusion of scarcity of resources, which compels people to compete in the market, who have to waste most of their life working as wage slaves. This inevitably results in the tremendous suffering and social conflict that prevails all around the world.

In addition, our economic system requires people to consume without end so that money can keep on circulating in the economy, thus urging us to continuously buy things we don’t need and which are going to end up in landfills, poisoning the very environment that we depend on and sustains us.

If you don’t like this kind of living and would like to create a positive change in your life and the world, I’d highly recommend you to research further into the immensely negative consequences of our economy, and educate yourself on alternative, more technically efficient and environmentally sustainable economic systems.

6. DETACH FROM MATERIALISM

Being brought up in a consumer culture, we believe that money can buy everything we need and will bring happiness into our lives. So we choose to buy more and more things without end, but we always end up feeling dissatisfied and hungry for more stuff.

The truth is that money can only provide us with substitutes for what we truly need, but not the real deal. What we need is neither possessions nor services, but things such as love, friendship, and creativity. So don’t be concerned about which is the next best thing you can buy, and instead invest your time and efforts in achieving heart-opening and mind-expanding experiences that money can’t buy.

7. BE MINDFUL OF WHAT YOU PUT IN YOUR BODY

Is what you’re eating contributing to your health or is it poisoning your physical organism? Is what you’re eating environmentally sustainable, or is it negatively impacting the natural world? These are some important questions that all people should ask themselves.

Most people choose to eat foods that are filled with sugar, and preservatives, and are empty of nutrients, or contain animal-derived products, unaware that their food choices are detrimental to their health, contribute to the suffering and death of tens of billions of animals, and have a tremendously negative impact on the environment.

From now on, be sure to choose carefully what you choose to put into your mouth, and I assure you that this is one of the best things you can do for yourself and the world.

8. CHOOSE YOUR NEWS SOURCES WISELY

Knowledge is power, but we are drowning in an ocean of information.

Corporate media presents us all the time with biased information, fooling us into believing the lies they tell in order to manipulate us exactly the way they want.

A true seeker of knowledge does not accept anything on belief, but seeks out facts and tries to develop a spherical understanding of the matter he/she is looking into.

If you don’t like being misled and desire to better understand what’s going on in the world, do your best to collect information from as many sources as possible and use critical thinking in order to reach your own conclusions about what’s true or not.

9. READ BOOKS

There have been plenty of wise individuals who’ve written books in which they share their thoughts on life’s problems and how they can be overcome. Many of them criticized the workings of society and offer their insights on how we can help create a more beautiful world.

Books, therefore, could be immensely helpful in opening our eyes and improving the quality of our lives, yet the sad truth is that not a lot of people spend much of their time reading books — or they just choose to read for entertainment reasons alone.

To get the most out of reading books, be sure to not just pick any book and read it — read those ones that touch your mind and heart and provide you with new perspectives that help you to better understand yourself and the world.

10. ESCAPE THE HEARD

Just like every person alive, you are a unique individual with unique talents and gifts to offer to the world.

Unfortunately, society has suppressed our individuality since the day we were born. We’ve been programmed to doubt ourselves and conform to what is considered as normal. This, however, prevents us from embracing ourselves and creating our own path in life, which is causing us immense emotional pain.

From today, distance yourself from the herd mentality and start paying attention to your inner voice — doing so will allow you to follow your calling and live the way you truly want to live.

11. CREATIVELY EXPRESS YOURSELF

A great way to deprogram yourself from the normalcy of modern life is to focus your attention on creativity.

We’re all born creative, but slowly our creativity has been suppressed so much that we’ve almost forgotten that we’re creative beings.

To be creative means to think outside the box and see life from different perspectives. Most importantly, to be creative means to find out new ways of living and realize that you have the power to manifest the kind of life you desire.

12. SEPARATE FROM ORGANIZED RELIGION

Dogmatic, organized religion imposes on people what to think and what not to, what is good and what is bad, what is right and what is wrong.

Thus, organized religion prevents people from using their critical thinking, seeking the truth, and reaching their own conclusions. On the contrary, it teaches them to blindly follow a set of morals and rules. The result? Emotional suppression and suffering.

If you want to reclaim your individuality, honestly express yourself and walk on the path of understanding, be sure to break the chains of organized religion and start your own quest for the truth from scratch.

13. YOU ARE NOT WHAT YOU OWN

Consume less and contribute more

You should be extremely suspicious when the state or state-funded media asks you to spend

It is never about your well-being and always about the Centralized agenda

14. Check your Ideology at the door

There is no room for it, so keep it to yourself

Knowledge, factual evidence, transparency, and pragmatism are superpowers

If you choose to have a strong opinion that you know to be triggering to others, make sure it’s well thought out, structured, and backed by factual evidence that you’ve seen for yourself

Outlook and final thoughts;

There is a reason why everything that can destroy you, your family, and your community is easily accessible while everything that empowers you is not.

By being mindful of the here and now, you’ll be able to respond to whatever happens each and every moment spontaneously, without being a victim of your past.

There are many meditation techniques out there that can help you to become mindful, so find the ones that you like most and stick to them until you see positive results in your life.

Thank you for making it this far. You can be certain that I’ll be following this clown show for the duration.

Until next time denizens.

Frequently Asked Questions.

The Oligarchy, AKA “The Dark Hand”

I goes by many names; It is the collection of integrated institutions that govern our nations.

We’re all inside the Matrix, but those who are trapped are those who believe the Matrix will deliver them from suffering as opposed to creating it.

 

Superficially, yes but significantly? No.

The system is the building, politicians are the people of come and go.

We need to unite and force change through innovation, not vote for it. 

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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The Decentralist Issue 2: Why Fiat Is Quicksand And What This Means https://cryptomedium.org/the-decentralist-issue-2-why-fiat-is-quicksand-and-what-this-means/ https://cryptomedium.org/the-decentralist-issue-2-why-fiat-is-quicksand-and-what-this-means/#respond Tue, 03 Jan 2023 18:56:29 +0000 https://cryptomedium.org/?p=10826 The Decentralist Issue 2: Why Fiat Is Quicksand And What This Means Read More »

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HI THERE DENIZENS, AND WELCOME BACK!

SO, LET'S discuss Why Fiat Is Quicksand And What This actually Means.

In The Decentralist issue 2: Why Fiat Is Quicksand And What This Means, I'[ll I’ll very simply and briefly break down the design of our monetary system then explain why it will fail.

“Inflation” is a belief, not a law in physics. We believe inflation is required for a productive economy. This is wrong and, in fact, the polar opposite is true.

Inflation = Wage deflation; which is the hidden destruction in the value of our money. The purpose of this is to siphon wealth from the middle and lower classes to those closest to the money. This is the destruction and erosion of property. The formal term for this process is known as “Theft”

This however gets a little complicated because it’s our own banks and governments that are committing these crimes against us. The situation gets even more complicated by the fact that 99% of us appear to be complicit in this crime.

WHY SHOULD IT MATTER?

“Roses are Red, Violets are Blue, Inflation is theft and Taxes are too”-Robert Breedlove

But I'm remiss, back to my point;

If a person believes in the need for inflation then they believe that theft is required in money to live in a productive society.

Most of us never think about it and the vast majority of academic and modern economists disagree with that statement

I think it’s great that they disagree but if they believe differently then they should be able to explain why…

LET’S “GAME THEORY” OUT A SCENARIO

When asked, they might answer “if we don’t have inflation, the economy will collapse”.

Ok, fair enough. It would collapse…. because it’s built on credit….. But why would it collapse?

“Because the global monetary system is built on credit that needs to expand”…. (and increase its rate of theft indefinitely in order to survive.) The existing fiat monetary system requires inflation and consequently, it needs manipulation to remain viable. We get less, for more work.

 The existing system is credit-based, it cannot allow ongoing deflation without a complete collapse 

because the credit would be wiped out. This existing system is going to fail, there’s no saving it as it’s mathematically impossible to do so.

WHY?

Because Technology is deflationary. Technology productivity gains in a “free market” reach the free market in the form of price declines. The true value of Technology is that it costs less and free’s up our time.

Inflationary systems mostly capture and hoard this value, then concentrate it in the hands of a few.

This is theft and this theft must continue.

WHY?

This is where we come full circle;

Institutions supersede law and money supersedes everything. The base layer of our money is built on a theft…

Inflation = Theft

This means everything within our system is inherently corrupt, and exponentially so as time passes, and it also explains the math behind wealth disparity.

NOW WHAT?

All need to take responsibility for our belief, complacency, and trust in this system, which is programmed for failure, which makes it stronger.

We need to understand that if we vote left or right, red or blue for anyone who can tell us that they can fix our system from within itself is, at best, naive and at worse a lie because it’s impossible to achieve.

We also need to understand that apathy and complacency result in the emergent behavior of society getting worse and worse and worse. Kind of like what’s happening now in our existing monetary system.

WHY?

Because where there’s theft, there’s disconnection. Where there’s disconnection, there’s confusion and misinformation. Where there’s misinformation, there’s conflict. It’s no coincidence that, as our money system breaks down and collapses, social unrest breaks apart also.

What’s sad is that people/groups in conflict with other groups have clearly not gone deep enough and do not understand the nature of their malcontent even though they think they do.

Ask why then Ask why again. Keep asking until you find the ‘root cause’.

The abundance of money creates scarcity everywhere else, and scarcity in money creates abundance.

We’re all focused on achieving value and wealth and abundance on top of the existing monetary system. Products, services, etc. all exist on top of this global monetary system.

Enter the CBDC

The risks CBDC’ pose should not be taken lightly, and we need to have a serious discussion about whether or not we want to move forward with this tech.

Institutions have made it clear that they’re continuing on this path, even if it trashes the world economy and all our trading partners

As we unravel, Interest rates go higher, the deficit gets bigger, interest expenses increase, more debt (bonds) is issued, and Interest rates go higher……cycle repeats until “No Bid”

“No bid” on Government bonds = No liquidity for Governments to pay their bills

This = default or Pivot

The deflationary Death Spiral has now reached the Fed leading to the US Currency crisis and forcing Pivot

Hyperinflation “Be Damned”, is where the pace of the global fiat system collapse rapidly increases. Here is when we begin to see the government CBDCs narrative being gradually, covertly, and insidiously sold and introduced

They know enough to never let an opportunity for distraction go to waste. My guess is that they continue until something breaks. Powell said he wants to be paul Volcker which means he’ll keep raising interest rates.

We’ll experience a dramatic smear campaign on bitcoin and crypto from governments prior to the rollout of CBDC’s

Since the exchange rates became forex market-based in 1971, the world’s economies have had financial inflation built into them.

We seldom look under the hood, but what if what's under the hood is broken

The Fiat system is a monopoly like any centralized company or institution

When the iPhone was released, we were all using blackberries. We couldn’t predict its value and how our minds would change or how the industry would evolve.

We move fast when given something of greater value to us, and it’s impossible to predict these moves

Kodak was destroyed by the very digital camera that Kodak created, and Blockbuster failed to see the threat of Netflix until it was too late.

ALL monopolies fail when they misunderstand the value creation delivered to society by new technology.

Technology adoption is most often bottom-up versus top-down. People furthest away from monopoly power have the most to gain, and the people closest to the monopoly have the most to lose.

There are always far larger numbers of people farther away from the monopoly than close to it, becoming easy to see the speed of something that creates more value for those people

This renders monopolies powerless.

What if that monopoly was money?

Because the credit IS the system) Society would never vote to have their entire way of living collapse. This means a paradox exists where society will always eventually insist on manipulated “growth” for fear of the consequences of collapse, and that manipulated growth is the primary source of the problems that society is dealing with — including environmental damage.

Ultimately, this is because instead of allowing prices to fall (and society to gain time and freedom) with increasing productivity, it presupposes that we can “grow” forever. And the growth itself presupposes that money can be created out of thin air to achieve it.

This “growth” for more jobs to be able to pay the bills, to pay for higher prices, which are manipulated higher in the first place keeps society on a hamster wheel unable to see that it is the system itself with its embedded growth obligation to service the unrepayable debt that is responsible for all the pain.

IT GETS WORSE

from the existing system, every innovation lowering the price or saving time in the future must be offset with more manipulation of currency to keep the existing monetary scheme going. Energy itself provides a good example. It is not like there hasn’t been an abundance of technology deployed into the exploration, production, transportation, and development of new energy sources.

When you realize that the primary reason (increasing demand is important too) energy prices have risen against new energy coming online and efficiency gains of existing energy sources, is that they must rise to support the existing credit system, you also realize there is no way out from the system.

The Cure

Outlook and final thoughts;

Yet again. For the love of God, will somebody please think of the children?!?  No, seriously, think of the children. The future depends on it.

The British Pound is the only fiat currency in the history of humanity that lasted over 100 years without collapsing- today it’s worth 1 tenth of 1% of its original value- Think about that… Keynesian economics, global reserve currencies, and fiat money, in general, is a 50 to 80-year unsustainable Ponzi scheme that always collapses, always.

And now it’s happening to us in the G8.

The Feds Priority WAS to maintain dominance as the global reserve currency, but I believe they know it’s over for them. WW3 is happening now and the objective is Global reserve status. The Fed CBDC vs BRICS vs BITCOIN vs CBDC’s

Jerome Powell, the Federal Reserve Chair, said he wants to be like Paul Volcker, which means he’ll keep raising interest rates. The problem is that our economy is not like Paul Volcker’s 1980s 30% Debt to GDP. The economy resembles the 1940s and the debt to GDP is 130%

Jerome Powel is not only in the wrong era, but he also has a broken calculator. I don’t know about you but this doesn’t make me feel very confident that the Fed cares about reality. The one thing that the Fed does care about, however, is the continuity and integrity of financial markets-but nothing else.

This means that the potential collapse of currency institutions and governments of G7 countries is irrelevant. We’re already seeing cracks in Japan, Switzerland, Germany, and the UK.

Thank you for making it this far. You can be certain that I’ll be following this clown show for the duration.

Until next time denizens.

Frequently Asked Questions.

Well, you would be out of luck. The CBDC would be mandatory for everyone to use.

Nope! The CBDC would replace cash altogether. So say goodbye to your privacy!

Too bad! With a CBDC, the government would have a database of all of our financial transactions. So they would know exactly where your money is going.

Well, you’re out of luck. With a CBDC, the government would have unprecedented control over our finances. They could freeze our accounts or impose negative interest rates if they wanted to. In other words, they could make your life very difficult!

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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THE DECENTRALIST VLOG SHORTS 3: GRADE 11 MATH https://cryptomedium.org/the-decentralist-vlog-shorts-3-grade-11-math/ https://cryptomedium.org/the-decentralist-vlog-shorts-3-grade-11-math/#respond Tue, 03 Jan 2023 17:36:20 +0000 https://cryptomedium.org/?p=10808 THE DECENTRALIST VLOG SHORTS 3: GRADE 11 MATH Read More »

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HI THERE DENIZENS, AND WELCOME BACK!

SO NEO, RED PILL OR BLUE PILL?

Grade 11 math

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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THE DECENTRALIST VLOG SHORTS 2: THE IGlU https://cryptomedium.org/the-decentralist-vlog-shorts-2-the-iglu/ https://cryptomedium.org/the-decentralist-vlog-shorts-2-the-iglu/#respond Tue, 03 Jan 2023 17:22:46 +0000 https://cryptomedium.org/?p=10809 THE DECENTRALIST VLOG SHORTS 2: THE IGlU Read More »

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HI THERE DENIZENS, AND WELCOME BACK!

SO NEO, RED PILL OR BLUE PILL?

The Iglu Analogy

Greg Foss; "It's just Grade 11 Math"

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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The Decentralist Issue 1: Sinister; How CBDC’s Will Manifest the Worst in Human Nature https://cryptomedium.org/the-decentralist-issue-1-sinister-how-cbdcs-will-manifest-the-worst-in-human-nature-2/ https://cryptomedium.org/the-decentralist-issue-1-sinister-how-cbdcs-will-manifest-the-worst-in-human-nature-2/#respond Mon, 19 Dec 2022 14:03:02 +0000 https://cryptomedium.org/?p=10794 The Decentralist Issue 1: Sinister; How CBDC’s Will Manifest the Worst in Human Nature Read More »

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HI THERE DENIZENS, AND WELCOME BACK!

SO, LET'S Continue our discussion about CBDC's

The Decentralist issue 1: Sinister ; How do CBDC’s manifest limitless corruption?

The yoke of oppression made possible by the advent of CBDC’s will end the world as we know it.

The only reason why our global monetary system works at all is because we’ve granted central banks the authority to manipulate money while forsaking our own. Now a CBDC is simply us saying to the central authorities, institutions, governments, and banks; “you’re not manipulating money enough, we need you to manipulate it more”. Crazy

From the perspective of “We the people”, or those who are governed, CBDC are pure evil. Why? Because they centralize power within the government and the commercial banks chartered by that government. This centralization of power leads to greater control over the lives of the people governed.

With CBDCs, the government and commercial banks would have complete control over the money supply and could manipulate it for their own benefit. This would be disastrous for the economy and would lead to higher prices, wage stagnation, and job losses. In addition, CBDCs would also make it easier for the government to track financial transactions and crack down on dissent.

As a result, CBDCs would be a tool of oppression, used by the government to control its citizens. From the perspective of those who are governed, CBDCs are pure evil.

WHY SHOULD IT MATTER?

“Roses are Red, Violets are Blue, Inflation is theft and Taxes are too”-Robert Breedlove

The Clown Car

We are in the end game of fiat money and The Fed has lost its mind. They had 50 years to make it work and blew it on transitory inflation. They printed way too much money and they know it. Now inflation is running as hot as the sun and they’re scared. They’ve become the compulsive gambler at the casino at 2 am on a Tuesday. They’ve lost it all and are now making increasingly stupid moves.

It’s literally just math. It’s unbelievable that so many remain unaware of what’s unfolding.

The global debt burden is unserviceable. It’s a Ponzi in the purest sense. Meanwhile, a scarce, decentralized, digital asset is monetizing in real-time… Mathematically, there is no solution to the global debt burden except currency debasement.

#Bitcoin is an engineering solution purpose-built for an age where trust is lost in monetary authorities. This is an issue of great importance because the nature of the inflation to come is going to be distinctly different from the inflation that we have become inured to over the last 50 years

Governments have now become the clown car bouncing off the rails of inflation and deflation. They’ve fallen asleep and hit the inflationary rail. Now they’ve slammed on the brakes, salvage whatever credibility remains, and get back to the middle of the road. Now, there’s no way they can “Pivot” without a reason On the next move, their credibility is gone. They’ve walked themselves into a place where every direction out is hell and they’re going to attempt to cover their tracks with the CBDC.

What’s going on?

I believe that the apathy of the majority will allow governments to easily take away our physical cash and replace it with CBDCs, ushering in a utopia ((or dystopia) of financial surveillance. But, we could have an ally impede the government’s ability to implement the most effective population control CBDC architecture; domestic commercial banks.

Today, when you go to make a purchase at a store, there’s a very good chance that the transaction will be made using a debit or credit card. Retailers love cards because they’re easy to use, and they also provide valuable data that can be used to track customer behavior. But what if there was a form of payment that was even easier to use than cards, and which also allowed the government to track every single transaction? This is the future that central bank-issued digital currencies (CBDCs) promise

While CBDCs may seem like a benign way to modernize our antiquated payment systems, there are some very real dangers associated with them. For one, CBDCs would represent a full-frontal assault on our ability to have sovereignty over honest transactions. With a CBDC, the government would be able to track every single financial transaction that takes place, meaning that there would be no more privacy when it comes to your finances. This would be a massive invasion of privacy, and it would give the government unprecedented control over our lives.

Another danger of CBDCs is that they would represent an existential threat to retail banks. Today, retail banks make money by collecting fees for services like processing payments and providing loans. With CBDCs, these services would no longer be needed, as the central bank would handle all payments directly. This would put many retail banks out of business, and it would concentrate even more power in the hands of the few remaining mega-banks.

The final danger of CBDCs is that they could be used to effectively modify the behavior of entire populations. With a CBDC in place, the government would be able to negative interest rates on deposits, meaning that people would effectively be taxed on their savings. This could easily be used as a tool to encourage people to spend rather than save, and it could have a profound impact on our economy.

Imagine…

You and the rest of the others decide to try to change your circumstances by nonviolent means. You march, sing songs of protest and generally engage in non-violent civil disobedience.

You use social media platforms like Facebook, Twitter, and Weibo to organize and galvanize. Your movement grows to be quite large, and you decide it is time for a march on the capital to show the country how unjust its discriminatory policies are.

Oh boy, the government doesn’t like it when you show them up in front of the whole country. That’s why they start getting really nervous when your movement continues to gain viral levels of visibility by effectively generating and disseminating heart-wrenching images from other smaller protests around the country. The police try to fight back by using tried-and-true tactics like firehosing and sicking attack dogs on you and your fellow peaceful protestors.

Images of children mangled at the hands of the supposed protectors of the people sway public opinion against the government. That, as history has warned us, the government cannot abide. Sooner or later, they’re going to crack down…hard. Just be careful you don’t end up on the wrong side of their crackdown. Trust me, you don’t want that.

With the new tool, the CBDC, the police can freeze out anyone they believe to be involved in or sympathetic to the upcoming march on the capital. Using data from Facebook, Twitter, Weibo, and other platforms, the police are able to target these individuals and prevent them from accessing the financial system.

This creates a significant barrier to entry for the march, as these individuals will not be able to fund their travel or accommodation. In addition, it also makes it more difficult for them to communicate and coordinate with each other. As a result, the police can effectively disrupt the march without having to take any overt action against the protestors.

In light of the current protests against the government, it is important to consider the role that access to essential goods and services plays in organizing an effective protest. Without access to transportation, food, and water, protestors will be unable to reach the capital or sustain themselves once they arrive.

This ultimately undermines the entire purpose of the protest. In order to be successful, protestors must have access to the resources they need to make their voices heard. Otherwise, their efforts will be in vain.

Enter the CBDC

The risks CBDC’ pose should not be taken lightly, and we need to have a serious discussion about whether or not we want to move forward with this tech.

Institutions have made it clear that they’re continuing on this path, even if it trashes the world economy and all our trading partners

As we unravel, Interest rates go higher, the deficit gets bigger, interest expenses increase, more debt (bonds) is issued, and Interest rates go higher……cycle repeats until “No Bid”

“No bid” on Government bonds = No liquidity for Governments to pay their bills

This = default or Pivot

The deflationary Death Spiral has now reached the Fed leading to the US Currency crisis and forcing Pivot

Hyperinflation “Be Damned”, is where the pace of the global fiat system collapse rapidly increases. Here is when we begin to see the government CBDCs narrative being gradually, covertly, and insidiously sold and introduced

They know enough to never let an opportunity for distraction go to waste. My guess is that they continue until something breaks. Powell said he wants to be paul Volcker which means he’ll keep raising interest rates.

We’ll experience a dramatic smear campaign on bitcoin and crypto from governments prior to the rollout of CBDC’s

Since the exchange rates became forex market-based in 1971, the world’s economies have had financial inflation built into them.

West Texas Intermediate Spot Oil Prices vs. S&P 500 Index- As noted by Authur hayes

“Oil is up almost 180% since 1983, reflecting a CAGR of 2.75%. The S&P 500 Index is up almost 35x since 1983, for a CAGR of 8.44%. Energy is the master currency. When viewed in that light, the Federal Reserve is only 0.75% above its 2.00% inflation target on average.”

The problem is that In all of human history, the world has never been so indebted at such low-interest rates. The losses to savings and capital, in general, will be massive because the debt must be inflated away. These two objectives are at direct odds with each other under a traditional financial monetary system so the government will need to lean on some sort of technological innovation to achieve both. Guess what they have planned?

What’s the big deal with CBDCs? Well, for starters, they offer a way for governments to issue digital currency that is purely electronic and thus defies the laws of physics. That’s right, with a CBDC, you can actually have your cake and eat it too.

But more importantly, CBDCs are base money, which means they are direct liabilities of the central bank. This is in contrast to the electronic money you’re probably used to, which is based on the traditional banking system and thus consists of credit money that is created through loans.

With CBDCs, blockchain technology affords an additional level of control that enables governments to solve their two-pronged inflation problem. So if you’re looking for a way to improve your financial situation, a CBDC may be worth considering.

In a world where the government can directly control the money supply, it’s only a matter of time before they start implementing some truly dystopian policies. For example, they could start by giving e-money to those who are struggling to afford basic necessities like food and fuel.

This would help to keep the population placated, but it would also allow the government to exert more control over them. Additionally, they could put restrictions on how people can invest their money, forcing them to invest in government bonds that yield less than the rate of inflation.

This would effectively transfer wealth from the private sector to the government, and it would make it much harder for people to save for their future. Ultimately, this CBDC dystopia is a very real possibility, and it’s something that we should all be concerned about.

The rise of the CBDC, or Central Bank Digital Currency, has the potential to create a hellscape for the economically oppressed. CBDC’s could be used by governments to control who is allowed to transact and for what.

This would allow for the direct exploitation of already marginalized groups. The economic oppression of minority groups is often justified by majority groups who believe that others deserve their lowly station due to their supposedly deficient qualities. With the rise of the CBDC, this justification will become even easier.

The CBDC has the potential to create a future in which the economically oppressed are even further controlled and exploited by those in power. We must be vigilant to ensure that this does not happen.

The categories of the various types of CBDC's

The Wholesale Model

Sinister how cbdc’s will manifest the worst in human nature; Imagine…

The Federal Reserve has this new cryptocurrency called WokeCoin, and you can only get it through Bank of America or Bank of China because they’re only two nodes operated by BOA and BOC For ease of description. Anyway, you download the digital wallet app for whichever bank you’re using where your Wokes are kept. Moving Wokes between two accounts is an internal database transfer within the BOA ecosystem. Let’s assume it works similarly with the Bank of China.

When you move your money from one bank to another, you’re trusting that both banks will agree on the transaction. It’s just like the Bitcoin network, except it’s private and only BOA and BOC can validate transactions. BOA and BOC compete with each other for Woke deposits by offering attractive deposit rates. BOA and BOC then use their short-term deposit funding to make longer-term loans to businesses in Wokes.

While BOA and the BOC are dependent on the Federal Reserve, they’re buffered from government politics. This allows them to pursue their primary purpose-making money. This model doesn’t improve much on the current banking system as it is still operated by private banks that have profit motives. The only major change is that cash is banned, so usage of digital payments is 100%.

I was always under the impression that the Federal Reserve was a government non-profit organization, but that’s not the case. I mean, I guess it makes sense – if they’re in charge of running the node, why wouldn’t they need to charge a fee?

They can pretty much ask for whatever information they want from the banks, and the banks have to comply. That seems a little unfair, but I guess that’s just the way things are, and it’s nothing compared to the level of theft and forced compliance that we plebs have to cope with.

Also, it sounds like the Federal Reserve can direct the banks to lend money at attractive rates to certain people or groups. That’s actually pretty cool – I didn’t realize they had that power. Finally, it seems like they can also do things like hand out Wokes to people directly.

In this model, the government definitely has more control over the money supply than in an economy with physical cash. However, because the government relies on private organizations to execute its monetary policy, said policy may not be carried out as written. Private organizations may have their own agendas that conflict with the goals of the government, and they may not have the same degree of control over the money supply. As a result, the government’s control over the money supply may be less than perfect. Nonetheless, this model does provide a greater degree of control than an economy with physical cash.

Direct Model

What if I told you that the Federal Reserve has its own app? And what if I told you that this app is the only means through which Wokes can be stored and transferred? This app is called the FedWoke app, and it’s available for download on the App Store and Google Play.

Commercial banks can still obtain licenses to take deposits and lend, but they now compete directly with the Federal Reserve. Given that the Federal Reserve cares only for politics, the Federal Reserve can enact policies that, if banks followed suit, would send those banks into bankruptcy. Specifically, the Federal Reserve can pay the highest rates of interest on deposits and offer the lowest rates on loans, because it can operate at a negative net interest margin for as long as it can get away with it politically.

The Federal Reserve can do this because it can never go bankrupt since it’s the government. This makes it the safest place to store your Wokes. So if you’re looking for a safe and convenient place to store your Wokes, look no further than the FedNow app.

The Trend

Here is a quick summary of what the five major central banks have in place or plan to implement with regards to CBDCs.

  • People’s Bank of China (PBOC) — The Chinese Communist Party launched the e-CNY using the Wholesale Model.
  • The Federal Reserve — The Boston Fed is studying the issue in conjunction with the Massachusetts Institute of Technology. They have yet to decide on whether to use a Wholesale or Direct Model.
  • The European Central Bank (ECB) — They have decided to implement the Wholesale Model but continue to study the issue.
  • The Bank of England (BOE) — They are studying the issue and have not fully decided whether to issue a CBDC at all — but if they do decide to, they have said they would implement the Wholesale Model.
  • The Bank of Japan (BOJ) — They are still studying the issue but have determined that when the time comes to implement their CBDC, they will adopt the Wholesale Model.

Given that every country that has at least reached the “choosing a CBDC model” stage has opted for the Wholesale Model, it’s clear that no central bank wants to bankrupt their domestic commercial banks. Not even in China, where the biggest banks are all directly owned by the government.

That tells you how much political power the banks have inside of the government. For politicians who care more for power than profits, this is their chance to completely destroy the influence of Too Big to Fail banks, yet, they seem to remain politically unable to do so.Arthur Hayes

Out Of business

https://medium.com/entrepreneur-s-handbook/pure-evil-c0c2148f81ab

How much business do you think commercial banks stand to lose globally if CBDC’s are introduced using the Direct Model?

According to the McKinsey 2022 Global Payments Report If the government were to issue currency directly to the people, it would cut out the middleman, so to speak. The global payments industry is a $2.1 trillion industry, and 40% of banking revenues come from it. So, if CBDCs were to become a reality, the banking sector would lose a significant chunk of revenue. They would do whatever it takes to be included in the payments flow, even if it means offering direct government-issued currency to the people. Given their track record, it’s likely they would succeed. After all, they have billions of dollars at their disposal and a lot at stake. So, while direct government-issued currency may seem like a good idea in theory, in practice, it may be difficult to implement and may not have the intended effect.

A Banks greatest threat.

Every time the mainstream press publishes FUD about stablecoins, CBDC discussion heats up. Why is everyone so obsessed with stablecoins? It seems like every time the mainstream financial press publishes an article about them, the internet goes crazy. I think it has something to do with the fact that they’re pegged to the dollar, so people see them as a safe investment. Plus, they’re convenient to use and easy to trade. But there’s more to stablecoins than meets the eye.

For example, did you know that the three largest stablecoins all hold dollars in the banking system against a token pegged at $1? That means for every $1 token outstanding, the issuer has cash, short-term government bonds, and short-term corporate bonds worth at least that much. And because they’re such large issuers, they actually have pretty sizable margins. In fact, I estimated the Net Income Margins (NIM) of each of the three largest stablecoins, and they’re all quite healthy.

So if you’re thinking about investing in stablecoins, don’t just look at the price. Take a closer look at the underlying economics, too. You might be surprised at what you find.

The beauty of stablecoins is that they are a fraction of the cost of running a bank. A bank has to pay for things like employee salaries, benefits, and physical infrastructure. They also have to pay for security. stablecoins don’t have any of those costs. Instead, users just have to pay a small transaction fee each time they want to send value. This makes stablecoins a much more efficient way of sending money.

Just like a bank, stablecoin issuers love a rising interest rate environment. They don’t pay anything to holders of the tokens, so every time JayPow raises short-term interest rates, it puts more cash money in their pockets. This week JayPow increased short-term rates another 0.75% — that’s an extra $1 billion in yearly revenue, assuming their NIM rose by an equivalent amount. Banks pay billions of dollars for legal and compliance professionals to stay compliant with the law. A stablecoin must also pay these folks, but the business model is simply accepting fiat from a trusted counterparty and purchasing fixed-income securities. I wouldn’t imagine the total spend on legal and compliance for the three above issuers combined totals more than $100 million per year.

A lot of people seem to think that banks hate stablecoins because they’re a threat to their business model. But I think it goes much deeper than that. I think banks hate stablecoins because they represent everything that’s wrong with the financial system. They’re efficient, they’re decentralized, they’re borderless, and they’re transparent. In other words, they’re exactly the opposite of what banks are.

Don’t get me wrong, I’m not saying that banks are evil or anything like that. But I do think that they’re not only a relic of a past age, but they also don’t serve us with the same level of integrity that they served our parents and grandparents. They are inferior in every way and the sooner we transition to a new system, the better. The fact that stablecoins are still relatively small is irrelevant. They have the potential to upend the entire financial system, and that’s why the banks are so afraid of them.

The Cure

Its looking like CBDCs using the Wholesale Model will be launched in all major economies as there’s just no other way out of the current inflation pickle that they created that they’re willing to explore. They do not want to loose their privilage and they can’t survive without tools like these to placate the plebes and financially repress the patricians.

I’m nervous because I know that genpop doens’t understand or care. They’re is too busy with TikTok to wonder first why their physical cash disappeared, and then why their financial sovereignty was openly taken from them.

The good news is that its looking like retail banks aren’t going anywhere as no country is interested in bankrupting them with the use of a direct delivery of a CBDC.  

The most utilized CBDC model will be the Wholesale one, and the most negative aspects of this technology will likely be neutered by profit-hungry, Too Big to Fail commercial banks that operate at odds with power-hungry politicians.

We also have Bitcoin. Capital controls are coming, and when all money is digital and certain transactions are not allowed, the ability to purchase Bitcoin will likely vanish.

If you don’t own at least a very small % of your liquid net worth in Bitcoin, the best day to have bought Bitcoin was yesterday.

Outlook and final thoughts;

Yet again. For the love of God, will somebody please think of the children?!?  No, seriously, think of the children. The future depends on it. I’m talking about stablecoins and Bitcoin of course. The CBDC discussion heats up every time the collective mainstream financial press publishes FUD about stablecoins and Bitcoin, and it’s always the same arguments.

They’re all about trust without verifying. About how we can’t possibly trust a digital currency that isn’t backed by a central authority like a government. But that’s missing the point entirely. trust isn’t the issue here. The issue is control and transparency. Who do you want control over your money? myself? The government? A multinational corporation?

I don’t know about you, but I’ll take my chances with a decentralized network of computers run by nobody in particular over any of those options. At least then I know that nobody’s going to be able to print more money out of thin air and use it to buy up all the assets in the world, inflating away my savings in the process.

Frequently Asked Questions.

Well, you would be out of luck. The CBDC would be mandatory for everyone to use.

Nope! The CBDC would replace cash altogether. So say goodbye to your privacy!

Too bad! With a CBDC, the government would have a database of all of our financial transactions. So they would know exactly where your money is going.

Well, you’re out of luck. With a CBDC, the government would have unprecedented control over our finances. They could freeze our accounts or impose negative interest rates if they wanted to. In other words, they could make your life very difficult!

Um, well, they would be very convenient I guess. But other than that, no, not really. In fact, they could potentially be very dangerous!

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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THE DECENTRALIST VLOG SHORTS 1: THE RABBIT HOLE https://cryptomedium.org/the-decentralist-vlog-shorts-1-the-rabbit-hole/ https://cryptomedium.org/the-decentralist-vlog-shorts-1-the-rabbit-hole/#respond Mon, 12 Dec 2022 00:57:00 +0000 https://cryptomedium.org/?p=10769 THE DECENTRALIST VLOG SHORTS 1: THE RABBIT HOLE Read More »

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HI THERE DENIZENS, AND WELCOME BACK!

SO NEO, RED PILL OR BLUE PILL?

FACTS ARE FACTS...

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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The Decentralist Issue 2 : JASPER AI’S POEM ABOUT CBDC’S https://cryptomedium.org/the-decentralist-issue-2-jasper-ais-poem-about-cbdcs/ https://cryptomedium.org/the-decentralist-issue-2-jasper-ais-poem-about-cbdcs/#respond Sat, 03 Dec 2022 01:53:28 +0000 https://cryptomedium.org/?p=10689 The Decentralist Issue 2 : JASPER AI’S POEM ABOUT CBDC’S Read More »

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HI THERE DENIZENS, AND WELCOME BACK!

SO, WHO'S JASPER AI?

Jasper AI is a robotic writer powered by cutting-edge AI technology that can curate content 5x faster than an average human copywriter. Talk about talent!

I ASKED JAPER TO WRITE A POEM EXPRESSING HIS THOUGHTS ABOUT CBDC'S. HERE'S WHAT HE WROTE:

THE DECENTRALIST ISSUE 2 : JASPER AI’S POEM ABOUT CBDC’S

–START–

CBDC’s are here, creeping in our lives,

Taking away freedom right before our eyes.

We can’t own what we once possessed,

Our rights and money now a mess.

 

They track all that we do,

Decisions made by only a few.

The power of the people is no more,

As our cash gets taken away at the door.

 

The cameras watch from every corner and wall,

Our movements tracked, no privacy at all.

The algorithms will monitor us for sure,

A dystopian future that we can’t endure.

 

CBDC’s have come to take control,

The government now paying the toll.

Our right to privacy is no longer free,

As we live in an Orwellian society.

 

But there’s still hope out on the horizon,

To take control and make a decision.

We can fight back against this new world of fear,

Regain our rights and make them hear.

 

The days of the CBDC’s may come to pass,

As we take back control at last.

Our rights will once again be righteously restored,

A better future for us all to explore.

 

By reclaiming our freedom, we can strive on,

To the future of tomorrow we now belong.

Let us all stand together and take back what’s ours,

And make sure CBDC’s won’t rule us anymore.

–END–

Outlook and final thoughts;

Yet again. For the love of God, will somebody please think of the children?!?  No, seriously, think of the children. The future depends on it. I’m talking about stablecoins and Bitcoin of course. The CBDC discussion heats up every time the collective mainstream financial press publishes FUD about stablecoins and Bitcoin, and it’s always the same arguments.

They’re all about trust without verifying. About how we can’t possibly trust a digital currency that isn’t backed by a central authority like a government. But that’s missing the point entirely. trust isn’t the issue here. The issue is control and transparency. Who do you want control over your money? myself? The government? A multinational corporation?

I don’t know about you, but I’ll take my chances with a decentralized network of computers run by nobody in particular over any of those options. At least then I know that nobody’s going to be able to print more money out of thin air and use it to buy up all the assets in the world, inflating away my savings in the process.

Frequently Asked Questions.

Well, you would be out of luck. The CBDC would be mandatory for everyone to use.

Nope! The CBDC would replace cash altogether. So say goodbye to your privacy!

Too bad! With a CBDC, the government would have a database of all of our financial transactions. So they would know exactly where your money is going.

Well, you’re out of luck. With a CBDC, the government would have unprecedented control over our finances. They could freeze our accounts or impose negative interest rates if they wanted to. In other words, they could make your life very difficult!

Um, well, they would be very convenient I guess. But other than that, no, not really. In fact, they could potentially be very dangerous!

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

]]>
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The Decentralist Issue 1: Sinister; How CBDC’s Will Manifest the Worst in Human Nature https://cryptomedium.org/the-decentralist-issue-1-sinister-how-cbdcs-will-manifest-the-worst-in-human-nature/ https://cryptomedium.org/the-decentralist-issue-1-sinister-how-cbdcs-will-manifest-the-worst-in-human-nature/#respond Thu, 24 Nov 2022 22:38:07 +0000 https://cryptomedium.org/?p=10538 The Decentralist Issue 1: Sinister; How CBDC’s Will Manifest the Worst in Human Nature Read More »

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HI THERE DENIZENS, AND WELCOME BACK!

SO, LET'S Continue our discussion about CBDC's

The Decentralist issue 1: Sinister ; How do CBDC’s manifest limitless corruption?

The yoke of oppression made possible by the advent of CBDC’s will end the world as we know it.

The only reason why our global monetary system works at all is because we’ve granted central banks the authority to manipulate money while forsaking our own. Now a CBDC is simply us saying to the central authorities, institutions, governments, and banks; “you’re not manipulating money enough, we need you to manipulate it more”. Crazy

From the perspective of “We the people”, or those who are governed, CBDC are pure evil. Why? Because they centralize power within the government and the commercial banks chartered by that government. This centralization of power leads to greater control over the lives of the people governed.

With CBDCs, the government and commercial banks would have complete control over the money supply and could manipulate it for their own benefit. This would be disastrous for the economy and would lead to higher prices, wage stagnation, and job losses. In addition, CBDCs would also make it easier for the government to track financial transactions and crack down on dissent.

As a result, CBDCs would be a tool of oppression, used by the government to control its citizens. From the perspective of those who are governed, CBDCs are pure evil.

WHY SHOULD IT MATTER?

“Roses are Red, Violets are Blue, Inflation is theft and Taxes are too”-Robert Breedlove

The Clown Car

We are in the end game of fiat money and The Fed has lost its mind. They had 50 years to make it work and blew it on transitory inflation. They printed way too much money and they know it. Now inflation is running as hot as the sun and they’re scared. They’ve become the compulsive gambler at the casino at 2 am on a Tuesday. They’ve lost it all and are now making increasingly stupid moves.

It’s literally just math. It’s unbelievable that so many remain unaware of what’s unfolding.

The global debt burden is unserviceable. It’s a Ponzi in the purest sense. Meanwhile, a scarce, decentralized, digital asset is monetizing in real-time… Mathematically, there is no solution to the global debt burden except currency debasement.

#Bitcoin is an engineering solution purpose-built for an age where trust is lost in monetary authorities. This is an issue of great importance because the nature of the inflation to come is going to be distinctly different from the inflation that we have become inured to over the last 50 years

Governments have now become the clown car bouncing off the rails of inflation and deflation. They’ve fallen asleep and hit the inflationary rail. Now they’ve slammed on the brakes, salvage whatever credibility remains, and get back to the middle of the road. Now, there’s no way they can “Pivot” without a reason On the next move, their credibility is gone. They’ve walked themselves into a place where every direction out is hell and they’re going to attempt to cover their tracks with the CBDC.

What’s going on?

I believe that the apathy of the majority will allow governments to easily take away our physical cash and replace it with CBDCs, ushering in a utopia ((or dystopia) of financial surveillance. But, we could have an ally impede the government’s ability to implement the most effective population control CBDC architecture; domestic commercial banks.

Today, when you go to make a purchase at a store, there’s a very good chance that the transaction will be made using a debit or credit card. Retailers love cards because they’re easy to use, and they also provide valuable data that can be used to track customer behavior. But what if there was a form of payment that was even easier to use than cards, and which also allowed the government to track every single transaction? This is the future that central bank-issued digital currencies (CBDCs) promise

While CBDCs may seem like a benign way to modernize our antiquated payment systems, there are some very real dangers associated with them. For one, CBDCs would represent a full-frontal assault on our ability to have sovereignty over honest transactions. With a CBDC, the government would be able to track every single financial transaction that takes place, meaning that there would be no more privacy when it comes to your finances. This would be a massive invasion of privacy, and it would give the government unprecedented control over our lives.

Another danger of CBDCs is that they would represent an existential threat to retail banks. Today, retail banks make money by collecting fees for services like processing payments and providing loans. With CBDCs, these services would no longer be needed, as the central bank would handle all payments directly. This would put many retail banks out of business, and it would concentrate even more power in the hands of the few remaining mega-banks.

The final danger of CBDCs is that they could be used to effectively modify the behavior of entire populations. With a CBDC in place, the government would be able to negative interest rates on deposits, meaning that people would effectively be taxed on their savings. This could easily be used as a tool to encourage people to spend rather than save, and it could have a profound impact on our economy.

Imagine…

You and the rest of the others decide to try to change your circumstances by nonviolent means. You march, sing songs of protest and generally engage in non-violent civil disobedience.

You use social media platforms like Facebook, Twitter, and Weibo to organize and galvanize. Your movement grows to be quite large, and you decide it is time for a march on the capital to show the country how unjust its discriminatory policies are.

Oh boy, the government doesn’t like it when you show them up in front of the whole country. That’s why they start getting really nervous when your movement continues to gain viral levels of visibility by effectively generating and disseminating heart-wrenching images from other smaller protests around the country. The police try to fight back by using tried-and-true tactics like firehosing and sicking attack dogs on you and your fellow peaceful protestors.

Images of children mangled at the hands of the supposed protectors of the people sway public opinion against the government. That, as history has warned us, the government cannot abide. Sooner or later, they’re going to crack down…hard. Just be careful you don’t end up on the wrong side of their crackdown. Trust me, you don’t want that.

With the new tool, the CBDC, the police can freeze out anyone they believe to be involved in or sympathetic to the upcoming march on the capital. Using data from Facebook, Twitter, Weibo, and other platforms, the police are able to target these individuals and prevent them from accessing the financial system.

This creates a significant barrier to entry for the march, as these individuals will not be able to fund their travel or accommodation. In addition, it also makes it more difficult for them to communicate and coordinate with each other. As a result, the police can effectively disrupt the march without having to take any overt action against the protestors.

In light of the current protests against the government, it is important to consider the role that access to essential goods and services plays in organizing an effective protest. Without access to transportation, food, and water, protestors will be unable to reach the capital or sustain themselves once they arrive.

This ultimately undermines the entire purpose of the protest. In order to be successful, protestors must have access to the resources they need to make their voices heard. Otherwise, their efforts will be in vain.

Enter the CBDC

The risks CBDC’ pose should not be taken lightly, and we need to have a serious discussion about whether or not we want to move forward with this tech.

Institutions have made it clear that they’re continuing on this path, even if it trashes the world economy and all our trading partners

As we unravel, Interest rates go higher, the deficit gets bigger, interest expenses increase, more debt (bonds) is issued, and Interest rates go higher……cycle repeats until “No Bid”

“No bid” on Government bonds = No liquidity for Governments to pay their bills

This = default or Pivot

The deflationary Death Spiral has now reached the Fed leading to the US Currency crisis and forcing Pivot

Hyperinflation “Be Damned”, is where the pace of the global fiat system collapse rapidly increases. Here is when we begin to see the government CBDCs narrative being gradually, covertly, and insidiously sold and introduced

They know enough to never let an opportunity for distraction go to waste. My guess is that they continue until something breaks. Powell said he wants to be paul Volcker which means he’ll keep raising interest rates.

We’ll experience a dramatic smear campaign on bitcoin and crypto from governments prior to the rollout of CBDC’s

Since the exchange rates became forex market-based in 1971, the world’s economies have had financial inflation built into them.

West Texas Intermediate Spot Oil Prices vs. S&P 500 Index- As noted by Authur hayes

“Oil is up almost 180% since 1983, reflecting a CAGR of 2.75%. The S&P 500 Index is up almost 35x since 1983, for a CAGR of 8.44%. Energy is the master currency. When viewed in that light, the Federal Reserve is only 0.75% above its 2.00% inflation target on average.”

The problem is that In all of human history, the world has never been so indebted at such low-interest rates. The losses to savings and capital, in general, will be massive because the debt must be inflated away. These two objectives are at direct odds with each other under a traditional financial monetary system so the government will need to lean on some sort of technological innovation to achieve both. Guess what they have planned?

What’s the big deal with CBDCs? Well, for starters, they offer a way for governments to issue digital currency that is purely electronic and thus defies the laws of physics. That’s right, with a CBDC, you can actually have your cake and eat it too.

But more importantly, CBDCs are base money, which means they are direct liabilities of the central bank. This is in contrast to the electronic money you’re probably used to, which is based on the traditional banking system and thus consists of credit money that is created through loans.

With CBDCs, blockchain technology affords an additional level of control that enables governments to solve their two-pronged inflation problem. So if you’re looking for a way to improve your financial situation, a CBDC may be worth considering.

In a world where the government can directly control the money supply, it’s only a matter of time before they start implementing some truly dystopian policies. For example, they could start by giving e-money to those who are struggling to afford basic necessities like food and fuel.

This would help to keep the population placated, but it would also allow the government to exert more control over them. Additionally, they could put restrictions on how people can invest their money, forcing them to invest in government bonds that yield less than the rate of inflation.

This would effectively transfer wealth from the private sector to the government, and it would make it much harder for people to save for their future. Ultimately, this CBDC dystopia is a very real possibility, and it’s something that we should all be concerned about.

The rise of the CBDC, or Central Bank Digital Currency, has the potential to create a hellscape for the economically oppressed. CBDC’s could be used by governments to control who is allowed to transact and for what.

This would allow for the direct exploitation of already marginalized groups. The economic oppression of minority groups is often justified by majority groups who believe that others deserve their lowly station due to their supposedly deficient qualities. With the rise of the CBDC, this justification will become even easier.

The CBDC has the potential to create a future in which the economically oppressed are even further controlled and exploited by those in power. We must be vigilant to ensure that this does not happen.

The categories of the various types of CBDC's

The Wholesale Model

Sinister how cbdc’s will manifest the worst in human nature; Imagine…

The Federal Reserve has this new cryptocurrency called WokeCoin, and you can only get it through Bank of America or Bank of China because they’re only two nodes operated by BOA and BOC For ease of description. Anyway, you download the digital wallet app for whichever bank you’re using where your Wokes are kept. Moving Wokes between two accounts is an internal database transfer within the BOA ecosystem. Let’s assume it works similarly with the Bank of China.

When you move your money from one bank to another, you’re trusting that both banks will agree on the transaction. It’s just like the Bitcoin network, except it’s private and only BOA and BOC can validate transactions. BOA and BOC compete with each other for Woke deposits by offering attractive deposit rates. BOA and BOC then use their short-term deposit funding to make longer-term loans to businesses in Wokes.

While BOA and the BOC are dependent on the Federal Reserve, they’re buffered from government politics. This allows them to pursue their primary purpose-making money. This model doesn’t improve much on the current banking system as it is still operated by private banks that have profit motives. The only major change is that cash is banned, so usage of digital payments is 100%.

I was always under the impression that the Federal Reserve was a government non-profit organization, but that’s not the case. I mean, I guess it makes sense – if they’re in charge of running the node, why wouldn’t they need to charge a fee?

They can pretty much ask for whatever information they want from the banks, and the banks have to comply. That seems a little unfair, but I guess that’s just the way things are, and it’s nothing compared to the level of theft and forced compliance that we plebs have to cope with.

Also, it sounds like the Federal Reserve can direct the banks to lend money at attractive rates to certain people or groups. That’s actually pretty cool – I didn’t realize they had that power. Finally, it seems like they can also do things like hand out Wokes to people directly.

In this model, the government definitely has more control over the money supply than in an economy with physical cash. However, because the government relies on private organizations to execute its monetary policy, said policy may not be carried out as written. Private organizations may have their own agendas that conflict with the goals of the government, and they may not have the same degree of control over the money supply. As a result, the government’s control over the money supply may be less than perfect. Nonetheless, this model does provide a greater degree of control than an economy with physical cash.

Direct Model

What if I told you that the Federal Reserve has its own app? And what if I told you that this app is the only means through which Wokes can be stored and transferred? This app is called the FedWoke app, and it’s available for download on the App Store and Google Play.

Commercial banks can still obtain licenses to take deposits and lend, but they now compete directly with the Federal Reserve. Given that the Federal Reserve cares only for politics, the Federal Reserve can enact policies that, if banks followed suit, would send those banks into bankruptcy. Specifically, the Federal Reserve can pay the highest rates of interest on deposits and offer the lowest rates on loans, because it can operate at a negative net interest margin for as long as it can get away with it politically.

The Federal Reserve can do this because it can never go bankrupt since it’s the government. This makes it the safest place to store your Wokes. So if you’re looking for a safe and convenient place to store your Wokes, look no further than the FedNow app.

The Trend

Here is a quick summary of what the five major central banks have in place or plan to implement with regards to CBDCs.

  • People’s Bank of China (PBOC) — The Chinese Communist Party launched the e-CNY using the Wholesale Model.
  • The Federal Reserve — The Boston Fed is studying the issue in conjunction with the Massachusetts Institute of Technology. They have yet to decide on whether to use a Wholesale or Direct Model.
  • The European Central Bank (ECB) — They have decided to implement the Wholesale Model but continue to study the issue.
  • The Bank of England (BOE) — They are studying the issue and have not fully decided whether to issue a CBDC at all — but if they do decide to, they have said they would implement the Wholesale Model.
  • The Bank of Japan (BOJ) — They are still studying the issue but have determined that when the time comes to implement their CBDC, they will adopt the Wholesale Model.

Given that every country that has at least reached the “choosing a CBDC model” stage has opted for the Wholesale Model, it’s clear that no central bank wants to bankrupt their domestic commercial banks. Not even in China, where the biggest banks are all directly owned by the government.

That tells you how much political power the banks have inside of the government. For politicians who care more for power than profits, this is their chance to completely destroy the influence of Too Big to Fail banks, yet, they seem to remain politically unable to do so.Arthur Hayes

Out Of business

https://medium.com/entrepreneur-s-handbook/pure-evil-c0c2148f81ab

How much business do you think commercial banks stand to lose globally if CBDC’s are introduced using the Direct Model?

According to the McKinsey 2022 Global Payments Report If the government were to issue currency directly to the people, it would cut out the middleman, so to speak. The global payments industry is a $2.1 trillion industry, and 40% of banking revenues come from it. So, if CBDCs were to become a reality, the banking sector would lose a significant chunk of revenue. They would do whatever it takes to be included in the payments flow, even if it means offering direct government-issued currency to the people. Given their track record, it’s likely they would succeed. After all, they have billions of dollars at their disposal and a lot at stake. So, while direct government-issued currency may seem like a good idea in theory, in practice, it may be difficult to implement and may not have the intended effect.

A Banks greatest threat.

Every time the mainstream press publishes FUD about stablecoins, CBDC discussion heats up. Why is everyone so obsessed with stablecoins? It seems like every time the mainstream financial press publishes an article about them, the internet goes crazy. I think it has something to do with the fact that they’re pegged to the dollar, so people see them as a safe investment. Plus, they’re convenient to use and easy to trade. But there’s more to stablecoins than meets the eye.

For example, did you know that the three largest stablecoins all hold dollars in the banking system against a token pegged at $1? That means for every $1 token outstanding, the issuer has cash, short-term government bonds, and short-term corporate bonds worth at least that much. And because they’re such large issuers, they actually have pretty sizable margins. In fact, I estimated the Net Income Margins (NIM) of each of the three largest stablecoins, and they’re all quite healthy.

So if you’re thinking about investing in stablecoins, don’t just look at the price. Take a closer look at the underlying economics, too. You might be surprised at what you find.

The beauty of stablecoins is that they are a fraction of the cost of running a bank. A bank has to pay for things like employee salaries, benefits, and physical infrastructure. They also have to pay for security. stablecoins don’t have any of those costs. Instead, users just have to pay a small transaction fee each time they want to send value. This makes stablecoins a much more efficient way of sending money.

Just like a bank, stablecoin issuers love a rising interest rate environment. They don’t pay anything to holders of the tokens, so every time JayPow raises short-term interest rates, it puts more cash money in their pockets. This week JayPow increased short-term rates another 0.75% — that’s an extra $1 billion in yearly revenue, assuming their NIM rose by an equivalent amount. Banks pay billions of dollars for legal and compliance professionals to stay compliant with the law. A stablecoin must also pay these folks, but the business model is simply accepting fiat from a trusted counterparty and purchasing fixed-income securities. I wouldn’t imagine the total spend on legal and compliance for the three above issuers combined totals more than $100 million per year.

A lot of people seem to think that banks hate stablecoins because they’re a threat to their business model. But I think it goes much deeper than that. I think banks hate stablecoins because they represent everything that’s wrong with the financial system. They’re efficient, they’re decentralized, they’re borderless, and they’re transparent. In other words, they’re exactly the opposite of what banks are.

Don’t get me wrong, I’m not saying that banks are evil or anything like that. But I do think that they’re not only a relic of a past age, but they also don’t serve us with the same level of integrity that they served our parents and grandparents. They are inferior in every way and the sooner we transition to a new system, the better. The fact that stablecoins are still relatively small is irrelevant. They have the potential to upend the entire financial system, and that’s why the banks are so afraid of them.

The Cure

Its looking like CBDCs using the Wholesale Model will be launched in all major economies as there’s just no other way out of the current inflation pickle that they created that they’re willing to explore. They do not want to loose their privilage and they can’t survive without tools like these to placate the plebes and financially repress the patricians.

I’m nervous because I know that genpop doens’t understand or care. They’re is too busy with TikTok to wonder first why their physical cash disappeared, and then why their financial sovereignty was openly taken from them.

The good news is that its looking like retail banks aren’t going anywhere as no country is interested in bankrupting them with the use of a direct delivery of a CBDC.  

The most utilized CBDC model will be the Wholesale one, and the most negative aspects of this technology will likely be neutered by profit-hungry, Too Big to Fail commercial banks that operate at odds with power-hungry politicians.

We also have Bitcoin. Capital controls are coming, and when all money is digital and certain transactions are not allowed, the ability to purchase Bitcoin will likely vanish.

If you don’t own at least a very small % of your liquid net worth in Bitcoin, the best day to have bought Bitcoin was yesterday.

Outlook and final thoughts;

Yet again. For the love of God, will somebody please think of the children?!?  No, seriously, think of the children. The future depends on it. I’m talking about stablecoins and Bitcoin of course. The CBDC discussion heats up every time the collective mainstream financial press publishes FUD about stablecoins and Bitcoin, and it’s always the same arguments.

They’re all about trust without verifying. About how we can’t possibly trust a digital currency that isn’t backed by a central authority like a government. But that’s missing the point entirely. trust isn’t the issue here. The issue is control and transparency. Who do you want control over your money? myself? The government? A multinational corporation?

I don’t know about you, but I’ll take my chances with a decentralized network of computers run by nobody in particular over any of those options. At least then I know that nobody’s going to be able to print more money out of thin air and use it to buy up all the assets in the world, inflating away my savings in the process.

Frequently Asked Questions.

Well, you would be out of luck. The CBDC would be mandatory for everyone to use.

Nope! The CBDC would replace cash altogether. So say goodbye to your privacy!

Too bad! With a CBDC, the government would have a database of all of our financial transactions. So they would know exactly where your money is going.

Well, you’re out of luck. With a CBDC, the government would have unprecedented control over our finances. They could freeze our accounts or impose negative interest rates if they wanted to. In other words, they could make your life very difficult!

Um, well, they would be very convenient I guess. But other than that, no, not really. In fact, they could potentially be very dangerous!

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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THE BITCOIN CHRONICLES ISSUE 4: TOP 5 BITCOIN LIGHTNING NETWORK WALLETS https://cryptomedium.org/top-5-bitcoin-lightning-network-wallets/ https://cryptomedium.org/top-5-bitcoin-lightning-network-wallets/#respond Sun, 13 Nov 2022 18:29:06 +0000 https://cryptomedium.org/?p=10257 THE BITCOIN CHRONICLES ISSUE 4: TOP 5 BITCOIN LIGHTNING NETWORK WALLETS Read More »

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HI fellow denizens, AND WELCOME BACK!

SO, What is the Bitcoin Lightning Network?

The Bitcoin Lightning Network is a set of rules (known as a second-layer payment channel) that built on top of bitcoins blockchain specifically designed for instant and feeless micropayments. this second-layer payment channel increases transaction times and decreases network congestion on the Bitcoin Blockchain. Since Bitcoin in its current form isn’t scalable; its slow and expensive and can’t be used as a practical medium of exchange. The Lightning Network solves this problem by allowing for faster payments and lower fees; in theory. Transactions on the Lightning Network are confirmed much more quickly than on the Bitcoin network, making it a more practical option for everyday transactions. It was conceived by two developers, Thaddeus Dryja and Joseph Poon, back in 2015.

SO, What are the best Bitcoin Lightning Network Wallets?

muun-logo-696x365
#1

MUUN

4.8/5
98%

MUUN

FgADMV4XgAEA-jg
#2

BREEZ

4.6/5
95%

BREEZ

1_1S5VillMKVqoXWD52qtDMg
#4

ELCAIR

4.5/5
92%

ELCAIR

phonix-tutorial-exchange-bitcoin
#5

PHOENIX

4.3/5
90%

PHOENIX

zap-olympus-a-fiat-to-lightning-network-on-ramp
#5

ZAP

4.3/5
90%

ZAP

But why are they the best? Why are these so special?

SSELF-CUSTODY, SELF-CUSTODY, SELF-CUSTODY, SELF-CUSTODY ….AND…. DID I MENTION  SELF-CUSTODY?

Truth be told, you’ll never be completely “off the grid” with a wallet unless its a  Clold storage (oflf linee) hardware wallet and you’re operating your own Bitcoin Lightning Node.

WIth that said these wallets all allow you to self custody your bitcoin and convert it to lightning bitcoin. Conveniently quickly and very very cheaply.

But once its on the Lightning work you will be somewhat relient on the global network of node operators.. so not entirley self-custody.

With that said, you can take comfort in knowing that you are not reliant on a centralized platform when using these wallets.

**That’s what make them the best for us here at the Crypto Medium**

bACKGROUND:

In simple terms, The Lightning Network is a “layer 2” payment protocol that operates on top of Bitcoin. It allows Bitcoin users to set up “channels” between each other, outside of the main Bitcoin

This network enables fast transactions between participating nodes and has been touted as a solution to the Bitcoin scalability problem.

The Lightning Network requires a node to be online and connected to the network at all times in order to receive payments. This imposes a certain amount of risk, as the node may go offline or be disconnected from the network for a variety of reasons.

In order to mitigate this risk, many Lightning Network nodes use what is known as a “watchtower”. A watchtower is a separate server that monitors the network for any malicious activity directed at a node. If the watchtower detects any such activity, it immediately notifies the node so that it can take action to protect itself.

So whats the big deal with the Lightning Network exactly?

The following is a list of the best Lightning Network wallets currently available, based on user reviews, ratings and our criteria for self custody:

Muun is a fantastic second-layer Lightning Network wallet for both Android and iOS devices. It offers support for new users, as well as features such as biometric authentication, instant payment notifications, and a clean user interface.

Muun Wallet is an advanced non-custodial open-source Bitcoin and Lightning wallet that allows users to make payments with zero channel configuration, cold storage savings, peer-to-peer payments, and much more.

It’s a non-custodial lightning network wallet, great for new users, that requires zero channel configuration: all you need to do is make sure you have bitcoins in your wallet and scan the Lightning invoice you want to pay. The muun Wallet will automatically recognize it as an off-chain invoice and guide you all the way through the payment.

It provides the best user experience for sending and receiving bitcoin (BTC). Some highlights for this hot wallet include: – Lightning fast payments: send and receive instant payments using bitcoin’s latest tech, lightning network. Thanks to this Wallet, making lightning-fast payments is now easier than ever before!

For those looking for a balance between convenience, security, and efficiency, it’s a great option. It’s available for both iOS and Android devices and offers a great way to keep your Bitcoin safe.

Muun uses a third-party service to deposit and withdraw BTC from the Lightning Network, which means you don’t have to run your own lightning node.

However, this also means that you have to trust a third party with your funds. The muun Wallet offers advanced security features that protect your funds from theft, even if you no longer have access to your device or your muun Wallet.

Muun offers an easy and beginner-friendly way to keep your Bitcoin safe and secure. With either a code written on paper or the combination of your email and password, you can easily recover your muun wallet if something happens to it.

Also, the mempool-based fee estimator is a great way to save on transaction fees by more accurately predicting costs.

PRO'S

+It hosts both Segwit and legacy wallet addresses +Low fees
+Highly effective security featuresr
+fee estimators do not need to overpay for their on-chain transactions.

CON'S

✗Customer service good but slow

4.8/5
98%

overall

MUUN

HOW DO YOU GET STARTED?

Simple;

  1. Download and install a Lightning wallet from google play and/or directly from the website if your preferred choice.
  2. Set it up- rememebr your private keys if its self custody.
  3. Now your ready to covert regular Bitcoin into lighting Bitcoin, and vice versa
  4. Start making thos transactions

** OUR RECCOMENDATION IS THE MUUN WALLET. THET DON’T PAY ME FOR THAT**

Breez is a Lightning Network wallet developed by Blockstream. It offers support for the Bitcoin Testnet, as well as features such as watchtower support, hardware wallet integration, and a Tor network connection.

It’s a Lightning Network-enabled Bitcoin wallet that is simple to use and provides instantaneous payments between merchants and customers. Available on both Android and iOS operating systems, it’s a non-custodial wallet, meaning that you are in control of your funds.

The breez wallet has a “Connect to Pay” feature which allows you to generate an invoice to a URL and share the link with the person you want to pay.

The person clicks the link, opens up the transaction, approves it, and that’s all! Thanks to this wallet, making Lightning Network-enabled Bitcoin payments has never been easier.

It is about to get a whole lot more user-friendly. In the near future, users will be able to link their wallet to a smart card. This will allow for transactions with any point-of-sale terminal that supports it. There are also plans for a marketplace. This would be a space where anyone could integrate with it. These planned features would make it much more accessible and user-friendly. Jim Gaffigan would be proud.

If you’re looking for a user-friendly and intuitive mobile lightning wallet, Breez is definitely worth checking out. Currently, in beta on both iOS and Android, it offers a non-custodial solution that doesn’t require users to run their own LN nodes.

Plus, it features automatic channel creation (for a fee of 0.4% and a minimum of 2,000 sats) and takes care of the other technical stuff for users. You can also deposit and withdraw BTC from the main chain into your wallet, which automatically gets moved to your Lightning Network channel in the prior scenario.

In addition, users can take advantage of additional wallet functionality, such as in-app interaction with solutions on the Lightning Network, as well as the option to buy BTC via a credit or debit card.

The Breez Wallet is a great way to store and use your BTC. Not only is it easy to use, but it also has a lot of features that make it a great choice for crypto enthusiasts. One of the best features is its Point of Sale functionality. This allows merchants to accept BTC payments via the Lightning Network in a simple and convenient way.

Another great feature is its podcast discovery and listening feature. This allows you to easily find and listen to crypto-themed podcasts right from your wallet. Overall, the Breez Wallet is a great choice for anyone looking for an easy-to-use and feature-rich BTC wallet.

PRO'S

✓ Clean design makes it understandable for users
✓ Gives more utility to BTC
✓ Cheap/free transactions with the Bitcoin lightning network
✓ Perfect for the adoption of lightning network for merchants

CON'S

✗ Not perfect to use for lightning gaming and receiving micropayments if you didn’t have any Sats before or if you do not want to buy them from the start.

4.5/5
95%

BREEZ

HOW DO YOU GET STARTED?

Simple;

  1. Download and install a Lightning wallet from google play and/or directly from the website if your preferred choice.
  2. Set it up- rememebr your private keys if its self custody.
  3. Now your ready to covert regular Bitcoin into lighting Bitcoin, and vice versa
  4. Start making thos transactions

Eclair mobile is a Lightning Network wallet for Android devices. It is one of the most popular Lightning Network wallets available, due in part to its user-friendly interface and features such as support for multiple currencies, instant payment notifications, and a built-in exchange.

It’s an open-source, Lightning network-enabled Bitcoin wallet that was built by ACINQ, the same company that developed the Phoenix wallet. It allows users to not only send and receive regular on-chain Bitcoin transactions but also provides the option to connect to the Lightning Network for cheaper and instant payments.

In addition, it runs a stripped-down Lightning node on the user’s mobile phone, which minimizes the need to rely on centralized parties. This wallet is another popular option for those looking for a Lightning-enabled Bitcoin wallet is non-custodial and supports both on-chain and off-chain transactions. also offers a one-click Lightning payment feature that makes it easy to pay invoices from merchants who support Lightning payments.

Because It’s non-custodial, you are the only one who has access to your funds. It’s also open source, so anyone can audit the code to ensure that it is secure.

As you know by now, In order to use the Lightning Network, you must connect to a Lightning node. Eclair wallet runs a stripped-down Lightning node on your mobile phone, which offers better privacy than wallets that rely on third parties for route calculations. You can also use this Wallet as a regular Bitcoin wallet, with the option to customize transaction fees. The Eclair mobile has more than 10,000 downloads in the Google Play store.

PRO'S

✓ most popular for new users, very intuative
✓ Gives more utility to BTC
✓ Cheap/free transactions with the Bitcoin lightning network

CON'S

✗ Not perfect to use for lightning gaming and receiving micropayments if you didn’t have any Sats before or if you do not want to buy them from the start.

4.4/5
92%

ECLAIR

HOW DO YOU GET STARTED?

Simple;

  1. Download and install a Lightning wallet from google play and/or directly from the website if your preferred choice.
  2. Set it up- rememebr your private keys if its self custody.
  3. Now your ready to covert regular Bitcoin into lighting Bitcoin, and vice versa
  4. Start making thos transactions

Phoenix Wallet is a Lightning Network on-chain wallet available for both Android and iOS devices. It is one of the most feature-rich Lightning Network wallets available, giving users many options and great support for, advanced security features, and a host of other useful features.

Phoenix Wallet is an open-source pure Bitcoin lightning network wallet that doesn’t handle on-chain Bitcoins at all. The wallet is also unique in that it’s actually a self-contained Lightning node, meaning you won’t have to run your own Lightning node at home. Phoenix is also non-custodial, so you can always be sure that you are in full control of your coins.

Phoenix Wallet offers one of the easiest and most user-friendly ways to send and receive micropayments over the Lightning Network. Phoenix is the perfect solution for anyone looking for a fast, efficient, and user-friendly way to send and receive Bitcoin payments.

This self-contained Lightning node that allows users to manage their channels and create new ones without having to run their own nodes. Phoenix is available for both iOS and Android, and offers a Swap-in and Swap-out feature that allows users to move their coins between the Bitcoin blockchain and the Lightning Network. By offering native integration with the Lightning Network, the Phoenix Wallet makes it easy for users to take advantage of the benefits of the LN without having to worry about the technical aspects.

Phoenix Wallet plans to introduce integration with the Tor network to enhance users’ privacy while they transfer BTC over the LN. To initialize the wallet, users have to first deposit at least 10,000 satoshis (sats), which is the minimum amount for a new payment channel to be created.

While opening a new channel costs 1% with a minimum fee of 3,000 sats, sending a Lightning Network transaction costs 1 sat + 0.01% or up to 12 sats + 0.3% (if no route can be found for the prior price). Phoenix also plans to support LN atomic swaps in the future. Phoenix Wallet seems like a promising new BTC wallet that offers several unique features. However, only time will tell if it will be successful in gaining adoption.

PRO'S

✓ Clean design makes it understandable for users
✓ Gives more utility to BTC
✓ Cheap/free transactions with the Bitcoin lightning network
✓ Packed full of features

CON'S

✗ For the intermediate user

4.3/5
90%

PHOENIX

HOW DO YOU GET STARTED?

Simple;

  1. Download and install a Lightning wallet from google play and/or directly from the website if your preferred choice.
  2. Set it up- rememebr your private keys if its self custody.
  3. Now your ready to covert regular Bitcoin into lighting Bitcoin, and vice versa
  4. Start making thos transactions

Zap is a Lightning Network wallet for macOS, Windows, and Linux. It is one of the most popular Lightning Network wallets available, due in part to its user-friendly interface and features such as support for multiple currencies, instant payment notifications, and a built-in exchange.

Zap is a simple open-source Bitcoin lightning network focused and can be installed on a mobile and desktop computer. It allows you to create new wallets, or to connect to your existing node. Users can easily manage their lightning channels and purchase Bitcoin on the lightning network with Zap.

Zap is an Android and iOS app that lets you send and receive Bitcoin and Lightning payments from anywhere in the world using your Lightning node.

It effectively acts as a remote control wallet in the sense that your wallet(and private keys) are on the Lightning network, not on Zap. Zap merely switches it on and off. When you’re ready to make a payment, Zap will open up a channel between you and the person or merchant you’re paying, allowing for instantaneous transactions at very low costs.

Zap is a non-custodial LN wallet available for desktops (Windows, Mac, Linux), iOS, and Android. Zap was developed by Jack Mallers, a 23-year-old developer from Chicago Illinois.

The wallet is not very beginner friendly and is more suitable for advanced users. Also, keep in mind that this wallet is maintained by a single developer (with some help on Github).

Zap maintains a list of tutorials over at Zap’s YouTube Channel, where you can see how to set up the wallet, open channels, and send payments. Jack Mallers is always seeking feedback to improve the Zap experience – you can reach out to him directly on Twitter.

Zap aims to make Lightning

Network payments fast, easy and cheap – Zap even has a built-in exchange! Now that’s convenient. If you’re looking for an easy way to get started with Lightning Network payments, Zap is the way to go. Give it a try today!

PRO'S

✓ Your lightning node is always available wherever you are
✓ Multi-wallet management
✓ Pay off-chain or on-chain
✓ Calculate balances in bitcoins, sats, or fiat currency
✓ Pay for things on the go by opening and closing payment channels
✓ Passcode protected
✓ Rolling out to more than 200 countries
✓ Instantly send money anywhere in the world Limited KYC verification
✓ Gives more utility to BTC

CON'S

✗ probbaly th top wallet on gthis list but is not for beginners

4.3/5
90%

ZAP

HOW DO YOU GET STARTED?

Simple;

  1. Download and install a Lightning wallet from google play and/or directly from the website if your preferred choice.
  2. Set it up- rememebr your private keys if its self custody.
  3. Now your ready to covert regular Bitcoin into lighting Bitcoin, and vice versa
  4. Start making thos transactions

Outlook and final thoughts;

Bitcoin’s lightning network is a battle-tested solution to Bitcoin’s scalability problem. Its growing influence in the Bitcoin community suggests that it will only get bigger with time. lightning wallets Lightning Network is a protocol that allows for instant, low-cost transactions.

It is composed of a network of nodes that are connected to each other and can be used for instant transactions and near-zero fees. You have seen the wallets and services that employ the use of the Lightning network. Why not give them a trial and see if you would like them?

After all, if everything goes according to plan, Bitcoin is the currency of the future. So far, the Lightning Network has been gaining a lot of traction and it appears that it will only continue to grow. Thanks to the Lightning Network, Bitcoin can fulfill its original vision of being a peer-to-peer electronic cash system.

Lightning Network wallets are still in their early stages of development and are subject to change. This list is based on user reviews and ratings as of the time of this writing and is subject to change. It’s important to note that there are other wallets like “blue wallet” and Bitcoin Lightning Wallet” that have a great track record. we chose to limit our list to our 5 favorites.

Just remember, we are fans of the open source wallet here. Custody has proven to be something you don’t want to trade-off. The closer we get to “total control” of our assets, the better.

I hope you gained something from the bitcoin chronicles issue 4 top 5 bitcoin lightning network wallets. Thank you for making it this far.

Frequently Asked Questions.

There are several risks associated with the Lightning Network, including the possibility of fraud or theft. It’s important to be aware of these risks and take steps to protect yourself.

If you’re interested in using the Lightning Network, you’ll need to set up a node. You can do this by running a full Bitcoin node and then installing the Lightning Network software on top of it. Alternatively, you can Set Up Lightning Network Node. Once you have a node set up, you can start opening channels and routing payments.

If you want to learn more about the Lightning Network, there are a few resources you can check out. The Lightning Network website has a lot of information about the network and how it works. You can also join the Lightning Network Telegram group to chat with other users and learn more about the network. Finally, the Bitcoin StackExchange is a great place to ask questions and get answers from knowledgeable users.

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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CRYPTO 101 PART 10: THE OPEN VS CLOSED METAVERSE https://cryptomedium.org/crypto-101-part-10-the-open-vs-closed-metaverse/ https://cryptomedium.org/crypto-101-part-10-the-open-vs-closed-metaverse/#respond Tue, 01 Nov 2022 21:19:14 +0000 https://cryptomedium.org/?p=10056 CRYPTO 101 PART 10: THE OPEN VS CLOSED METAVERSE Read More »

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HI DENIZENS, AND WELCOME BACK!

WHAT IS THE OPEN VS CLOSED METAVERSE?

For the closed metaverse think Facebook’s “Meta”; is simply a repackaged, dressed-up, 3D virtual version of web 2.0. It’s a private industry hustle, a con job; a place created by a centralized and nontransparent authority designed to mimic the open Metaverse. It’s a place where the organization sets the rules, owns your data, and profits from your experience. Many more companies are trying the same thing.

For the Open Metaverse, also known as the real Metaverse, think “Ready Player One” without the corporate overloards. It is the antithesis of a closed Metaverse, literally the inverse. A decentralized, web 3.0, Blockchain-based 3D virtual place/experience that nobody owns.

“Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to their owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.”

-Ayn Rand

THE METAVERSE IS NOT THE MARC ZUCKERBURG "META"

WHAT THE HECK IS THIS METAVERSE ANYWAY?

For all in the crypto world, the metaverse is coming, and it’s going to be big.  If you’re not familiar with the term “metaverse,” it’s a portmanteau of “meta,” meaning beyond or transcending, and “universe,” meaning, well, all existing matter and space.

So the metaverse is to be a place that transcends the physical world we live in today. In theory, It’s a digital reality, not bound to the laws of physics and traditional economics. A place of endless creativity and opportunities and will function according to its rules and principles.

The idea is that the siloed 2D internet we know today will be replaced by a 3D interoperable metaverse resulting in a video-gamelike internet experience.

The potential applications of such a technology are virtually (pun not intended) limitless, and we’re already seeing early examples of it in virtual worlds like Second Life and massively multiplayer online games like World of Warcraft. So while the metaverse may still seem like science fiction, it’s actually not that far off from becoming a reality.

The more connected than ever before trend is only set to continue with the rise of the metaverse. This digital economy will transform the internet with shared virtual worlds. Hundreds of companies and teams are working on making their visions of the metaverse a reality, and it is forecasted to be a multi-trillion-dollar industry.

In some ways, the first signs of the metaverse are already here. People study on YouTube, work in Teamflow, meet on Discord, game together in Minecraft and Fortnite and, shop and watch movies on Amazon, tweet on Twitter, and eat dinner from UBER Eats.

Today though, most of these services are disconnected. Users have to switch from one platform to another and log in with different accounts and inter-platform communication doesn’t exist.

However, with the metaverse, all of these activities will be connected in one shared virtual world. The possibilities are endless and the potential for growth is tremendous. Get ready for the metaverse – it’s coming sooner than you think!

CLOSED METAVERSE

Most people would be surprised to learn that the internet is dominated by just a few large companies. In fact, the most-used platforms and services are owned by just a handful of tech giants.

This concentration of power can have serious implications for users, who may find themselves at the mercy of these companies. For example, if one of these companies decides to change its terms of service or raise prices, users may have little choice but to go along with it.

Additionally, these companies may use their power to stifle competition or silence voices they don’t agree with. Therefore, it’s important to be aware of the concentration of power in the tech industry and to understand the potential implications.

Powerful platforms become exclusive. Not surprisingly, that harbors the potential for conflict. If these companies are no longer mere service providers, they become gatekeepers equipped with the power to decide who gets to use their platforms. This wouldn’t be a problem if hey weren’t monopolies within their fields, but they are.

Users get de-platformed and silenced, lose their voice, and in some cases even their livelihood. Consequently, as these companies have expanded it’s become increasingly hard to hold them accountable. Otherwise, we risk becoming trapped in a digital world where only a select few have a say.

As anyone who has attempted to leave a social media platform knows, it is not easy. Not only are you saying goodbye to your friends and family, but you are also giving up your history, your identity, and your data.

This is because web 2.0 social media platforms have a monopoly on our data. We may not agree, but the reality is that we’re at the mercy of these platforms. They can change their terms and conditions at any time, and they can delete our data if they so choose.

We may not like it, but this is the reality of the situation. So before you opt out of a social media platform, think long and hard about the cost of doing so.

OPEN METAVERSE

In this case, the metaverse is built in an open and decentralized manner on the principles of Web 3.0, built on blockchain technology, ensuring permissionless access and the ownership of data by the users. “A metaverse that won’t yield control in the hands of just a few but allows users to truly own their creations and data. In an open metaverse, digital items will be truly possessive thanks to NFTs, and users can monetize and trade their virtual goods and data at their will.”-RealVision

Imagine being able to shop, work, play, and socialize all in one place.

And should a single entity build and control the metaverse, they would wield an immense amount of power. So it’s important to be aware of the potential implications of the metaverse and make sure that we don’t hand over too much control to any one institution.

Decentraland and The Sandbox are two projects that are building the open metaverse on the principles of Web3. Decentraland is a virtual world where users can buy, sell, or trade virtual property.

The Sandbox is a game world where players can create their own games and experiences. Both projects are powered by blockchain technology, which allows for decentralization and security. The open metaverse is still in its early stages, but Decentraland and The Sandbox are leading the way in its development.

THE PROBLEM WITH A CLOSED METAVERSE

Web 3.0 and crypto enthusiasts are not the only ones building the metaverse.

The clear problem is that major tech companies don’t just want to be a part of the future metaverse, they want to define and own it, similar to how they control their Web 2.0 platforms.

The private industry is fully aware of the potential of the metaverse and probably has the most aggressive conviction about its future importance.

Several companies have publicly announced that they are building their own version of the metaverse. This usually comes with a commitment to fund metaverse projects with large sums of money and to delegate their best engineering talent to it.

WEB 2.0

Whoever controls the largest parts of the metaverse will be able to extract the largest profits from it. Meta (formerly Facebook) has even changed its name to openly communicate its intention AND lay claim to the metaverse.

They have also purchased the virtual reality headset company Oculus, which allows them to control the hardware entry point to the metaverse. The Metaverse is coming, and the tech giants are positioning themselves to be its gatekeepers.

Besides Meta, other early leaders in the metaverse space are well-known names in the tech industry. Microsoft, Amazon and Google are just the prime examples among many that are pursuing a metaverse vision. Unity, Valve, Epic Games, and Apple, to name just a few more, are also pursuing the metaverse as the next big thing.

IS THE CONFLICT OVER?

The recent push by large tech companies into the metaverse space has raised the question of whether the battle for an open and decentralized metaverse is already lost before it really begins. However, there are two significant forces that will make it much more difficult for the metaverse to be walled off and controlled by a few centralized entities.

The first is blockchain technology, which enables developers and artists, no longer reliant on VCs or large companies to finance them, to lay the foundations and create fully decentralized applications that are independent and outside of the reach of large tech companies.

Unlike in Web2.0, successful decentralized protocols running on a blockchain cannot be possessed by a single entity and, therefore, cannot be sold to a large company with deep pockets. Thus, consolidation on the application level is less likely to happen.

The second force is the fact that the metaverse will be built on existing infrastructure such as the internet and cellular networks. This will make it much harder for any one company to control or shut down access to the metaverse. In short, the battle for an open and decentralized metaverse is far from over.

The idea of augmented reality has been around for some time, but imagine a world where you can be anyone you want to be, where you can go anywhere you want to go, and where you can create anything you can imagine. An open-source creator economy on a blockchain network where billions of avatars interact.

This is the promise of the Metaverse, a virtual reality that is constantly being built and expanded by millions of its users. And to realize this promise, the metaverse must be built on blockchain technology.

Only blockchain provides true ownership of digital assets and guarantees access for everyone. And only blockchain allows users to own their data and monetize their creations at will. By harnessing the power of blockchain, the metaverse can become a truly free and open platform for creation, collaboration, and exploration. And that is why blockchain is essential for the metaverse.

FINAL THOUGHTS

We don’t really know much about the metaverse yet. It’s all still up in the air. Who will own and run it? What will it look like? We just don’t have enough information to make solid predictions. The metaverse will likely be created by a network of different platforms, blockchains, and technologies working together.

This cooperation and embracing of interoperability are essential for the success of the metaverse. Different organizations will need to be able to communicate and interact with each other to create a cohesive user experience. Only by working together can we hope to build something as ambitious as the metaverse.

Frequently Asked Questions.

To get to the other side of the metaverse!

We don’t know yet, the metaverse is still being built!

**Disclaimer**

Cryptocurrencies and ICOs are all the rage these days, with everyone from celebrities to your next door neighbor looking to get in on the action. However, it’s important to remember that investing in cryptocurrencies and ICOs is highly risky and speculative. The prices of these assets can be incredibly volatile, and there’s no guarantee that you’ll make any money by investing in them. In fact, you could easily lose everything that you put into them. So if you’re thinking about investing in cryptocurrencies or ICOs, make sure that you understand the risks involved and only invest what you can afford to lose.

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