“First they ignore you, then they laugh at you, then they fight you, then you win.”

TLDR: CBDCs are a threat to our economic freedoms. The top down messaging about federally issued currencies is construed as a positive for all of crypto development when in reality it’s intend to lull the lay-person into a false sense of security and give up their rights.

There is a significant pivot happening right now in the tradfi space that could spell trouble for crypto as we know it. This has been building behind closed-door meetings and information is strategically trickled down to the media about what’s coming down the pipe. The long and short is that it’s not looking good.

We already see that banks like Chase are outright blocking crypto and major institutions like JP Morgan are teasing the idea of creating their own blockchains to provide financial solutions. I believe these things are already in motion and it’s becoming clear that tradfi institutions aren’t keen to adopt to existing technology, but instead want to create their own.

The ‘first mover’ advantage for crypto is long gone at this point and federal control on crypto is already encroaching on our freedoms. What we are seeing is the US regulators creating an environment where it allows tradfi and institutions to reclaim or recreate the scenario for that ‘first mover’ advantage to occur. They’re in control of the narrative right now. But it won’t be for long.

The threat of a CBDC is very much a concern for a lot of us who are already involved in crypto. We know the harm that banks pose to our financial freedoms and the slippery slope that comes with centralized control of finances.

Despite this known threat, we see almost every other crypto forward nation making regulations that are clear and speeding things along with integration and continuing development. This paints an attractive picture and narrative about CBDCs and crypto as we know it existing alongside one another. The uninformed public will likely welcome a CBDC as a “safe” way to get into crypto.

CBDC = Bad right? Yeah, I don’t agree with them. Do I like the idea of Tether or USDC being my only real stable options? No, but it’s all I have for now.

The idea of a fed issued stable sounds really attractive and reassuring for the laymen, but a CBDC is like one of those deep ocean angler fish. It’s dangling the use of crypto in front of them to trick us and eventually we’ll be dinner.

I’m going to share a bit from a Forbes article here because it better articulates the threat:

“The problem [with CBDCs] is that the federal government, not privately owned commercial banks, would be responsible for issuing and managing CBDC deposits. And while this fact might seem like a feature instead of bug, it’s a major problem for anything that resembles a free society…The CBDC itself is mainly the government’s attempt to protect its privileged position and exert more control over money. The problem is that there is no limit to the level of control…A CBDC would give federal officials full control over the money going into–and coming out of–every person’s account.”

This is just the beginning of a movement that some might find we are essentially powerless against. Or are we?

One could argue that countries that bring in a CBDC faster will have an edge in leading the crypto space as a CBDC brings stability and the ability to segway to other crypto and their utilities with ease. The naive thought is that CBDCs will be some sort of reassurance and framework to expand crypto and existing chains. When in reality, they will severely restrict financial movement and freedoms. Not just on blockchain.

So what can we do? Sign petitions and mail your representatives. Hit the streets to educate people about the dangers of a CBDC. This is bigger than blockchain.

We are at the fight stage right now. Will you accept the call to action to defend your economic and political freedoms?