https://www.telegraph.co.uk/business/2023/02/06/hoarding-britcoin-banned-ban... https://12ft.io/proxy?q=https%3A%2F%2Fwww.telegraph.co.uk%2Fbusiness%2F2023%... https://www.telegraph.co.uk/business/2023/02/04/digital-pound-possible-2030-... https://www.telegraph.co.uk/business/2022/08/28/cash-has-just-five-years-lef... Hoarding ‘Britcoin’ to be banned over bank run fears under Sunak’s digital currency proposals Frictionless digital transfers may increase the risk of commercial banking collapses, officials say By Szu Ping Chan 6 February 2023 • 10:30pm Consumers will be blocked from hoarding new “digital pounds” issued by the Bank of England because officials fear a run on high street banks, according to a consultation paper that suggests a new form of money could be introduced by 2030. Governor Andrew Bailey and Chancellor Jeremy Hunt revealed a roadmap on Monday night for creating a new central bank digital currency (CBDC) – dubbed “Britcoin” in the press – that could enter circulation by the end of this decade. It comes after the The Telegraph revealed the pair would throw their weight behind its creation, saying a digital currency will “likely” be needed in future as cash use continues to decline. It is understood that Britons will initially be limited to transferring a few thousand “digital pounds” into their accounts under plans being drawn up. The limit will be imposed in order to prevent “large and rapid outflows” from traditional high street banks. Officials fear that the frictionless nature of digital money would allow people to shift their wealth almost instantly between accounts, giving rise to the risk that banks could quickly collapse if they find themselves under stress and customers begin to withdraw their funds. Mr Hunt insisted on Monday that “protect[ing] financial stability” was a top priority, adding that “cash is here to stay”. “A limit on individuals’ holdings would apply at least in the introductory phase,” the Treasury said. “This would strike a balance between both encouraging use and managing risks, such as the potential for large and rapid outflows from banking deposits into digital pounds. These limits could be amended in the future.” Mr Hunt and Mr Bailey emphasised that CBDCs offer a “new way to pay” for consumers. Bank and Treasury officials believe it will promote competition and lead to cheaper financial services. The Bank will provide a platform for private sector companies to provide financial services. However, officials are not exploring a route that would allow people to open an account at the Bank of England. Officials stressed that any state-backed digital currency would sit alongside cash and be worth the same as its banknote equivalent. However, the plans are likely to fuel fears that banknotes could one day disappear altogether. A digital pound would be issued by the Bank and would not bear interest. Unlike other digital currencies such as Bitcoin, it would also be risk-free. The consultation, which will invite comments from businesses and the wider public over the next four months, stresses that no decision on whether to go ahead with a digital currency will be made until 2025 “at the earliest”. The Bank's annual report reveals that millions of pounds has already been spent researching the economic benefits of a CBDC. Launching a digital currency will involve “significant public investment” that suggests the project could potentially cost the taxpayer billions of pounds. Former Bank of England governor Lord King warned last week that the introduction of a CBDC offered “risks but no obvious benefits”. He cautioned against creating something the public didn't need just because it had the “sexy name of a digital currency”. Mr Hunt said on Monday: “We want to investigate what is possible first, whilst always making sure we protect financial stability.” Mr Bailey added: “This consultation and the further work the Bank will now do will be the foundation for what would be a profound decision for the country on the way we use money.” [–]Snoo_92843 32 points 1 day ago Thankfully I've got BTC permalink embed save report give award reply [–]TheUnstoppableBTC 4 points 20 hours ago This news surprised no bitcoiners. We’ve seen this kind of cbdc abuse coming from miles away. permalink embed save parent report give award reply [–]BasisOk4268 24 points 1 day ago I can believe they’d try it. I also believe if they did we’d have Guy Fawkes 2: Bonfire Boogaloo 🧨 permalink embed save report give award reply [–]mottlymonical 8 points 1 day ago This is coming soon enough permalink embed save parent report give award reply [–]magenta_ribbon 1 point 1 day ago They want that- gives them an excuse for martial law. permalink embed save parent report give award reply [–]OkeyDokeyWokey 1 point 21 hours ago Remember remember the 5th of september. permalink embed save parent report give award reply [–]BTCPriestredditor for 7 weeks 90 points 1 day ago They won't. They'll just give recieved funds an expiry date and that's it. That's what all govs will do with their shitty CBDCs. permalink embed save report give award reply [–]Cyberus7691 52 points 1 day ago So your telling me these CBDC’s will have the same business model as those scammy scam gift cards that steal your money if someone doesn’t utilize the funds in time?! permalink embed save parent report give award reply [–]Bitcoin_Maximalistredditor for 3 months 38 points 1 day ago no, worse. permalink embed save parent report give award reply [–]scabbymonkey 5 points 1 day ago It will also be in line with the US welfare food program. You will have stores and eventually specific food items you can purchase. Sounds good for those in need, but wait till the corporations get i to this and claim Kraft Macaroni and Cheese is a vegetable and thats all you can buy with your shitty cbdc. permalink embed save parent report give award reply [–]jesschester 1 point 17 hours ago It’s like getting Airline points instead of a refund when your flights gets canceled right as you’re pulling up to the airport. permalink embed save parent report give award reply [–]HurricaneHarvey7 27 points 1 day ago How does everyone else not realize this yet, and start accumulating BTC? Sometimes I think I'm just waiting for the entire world to catch up permalink embed save parent report give award reply [–]BTCPriestredditor for 7 weeks 14 points 1 day ago* Sheeple. Sleeping. And once they wake up they find themselves in whole another world. There's only one solution to all the coming shit. Switch to BTC. permalink embed save parent report give award reply [–]Educational_Pea4558 4 points 1 day ago You think there will be an off ramp for bitcoin? In a world of cbdcs and digital currency you think they will let you buy necessities with bitcoin? permalink embed save parent report give award reply [–]BTCPriestredditor for 7 weeks 11 points 1 day ago In bitcoin there is no 'they will let you'. There rather is 'They can't hinder you'. Bitcoin is completely censorship-resistant and once you and your counterparty agree the deal will be done and set in stone without anyone being able to interfere. permalink embed save parent report give award reply [–]amretardmonke 8 points 1 day ago "They" don't have to "let" us do anything. They aren't as all-powerful as you think they are. permalink embed save parent report give award reply [–]Whatnam8 2 points 1 day ago I think you’d be a fool to underestimate just how much money they have and how powerful they can be should they so choose. They are making small adjustments and whittling away more and more as time goes on and people are okay with it because the changes aren’t big and drastic and being done all at once permalink embed save parent report give award reply [–]mottledshmeckle 5 points 1 day ago If people would stop being egocentric and look back 40 or 50 years to see how much freedom the governments have incrementally stolen then maybe people would finally understand. Only looking at the world since you arrived on it is HOW government can keep stealing everybody's freedom, bit by bit. permalink embed save parent report give award reply [–]Professional-Tea2397 1 point 20 hours ago Which country do you live in and what important freedoms are you missing? I'm curious permalink embed save parent report give award reply [–]mottledshmeckle 3 points 13 hours ago The freedom to not have every transaction tracked, the freedom to have a conversation without being eavesdropped on. This entire conversation will be forwarded to an NSA data center in Utah, which according to the American constitution, is illegal surveillance. There is no warrant allowing my phone conversations to be tracked, yet they are. And the governments get away with it because of the snarky ignorance of the average idiot online today. The government collects EVERYTHING in the hopes they can someday jam it back up your ass. The freedom to not have every piece of mail I have sent photographed and cataloged (because it may have anthrax in it) the freedom to have my constitutional rights mean something, instead of being slowly eroded bit by bit, through court precedent by activist judges, try to legislate from the bench. The freedom to have my relationships with my doctor priest and lawyer, sacrosanct. The FBI has been given the right to break into your home or lawyers office, without a warrant. There might be something in there they want. Fucking illegal as hell, but making illegal laws has become the legislation du jour since 9/11. The freedom to not be locked in my home or the local church being closed on a whim. Rights aren't privileges extended by the government, they are laws written into the foundational documents of this country. permalink embed save parent report give award reply [–]CoolioMcCool 0 points 1 day ago They're already quite powerful and will be moreso when CBDCs are fully rolled out. What will you use to obtain BTC if all employers are paying you in CBDC and exchanges are banned from selling you BTC? All trade and business in BTC would have to be underground. How would you aquire or sell if no legitimate business could accept or pay with it? Much less easily. permalink embed save parent report give award reply [–]MiceAreTinyredditor for 6 weeks 2 points 22 hours ago I would move or use a foreign exchange. The governments jurisdiction is limited, bitcoin is not. permalink embed save parent report give award reply [–]CoolioMcCool 1 point 21 hours ago I know they can not make it impossible, my point I guess is that they can make it extremely inconvenient, and you rely on the actions taken against it to not be applied across the board. I do think at least in the near term that such extreme measures are very unlikely by governments as it would be too obviously dystopian. permalink embed save parent report give award reply [–]MiceAreTinyredditor for 6 weeks 3 points 19 hours ago they can make it extremely inconvenient They can make it as hard as it is to get some weed. permalink embed save parent report give award reply [–]CoolioMcCool 1 point 16 hours ago Yeah I guess you're right on that. They'd still discourage a lot of people but not those who need it, and I think in fighting it they would push many to realise why they need it. permalink embed save parent report give award reply continue this thread [–]kurnaso184 2 points 1 day ago Why btc and not gold/stocks or other assets? Not that I don't like btc, on the contrary. I just don't see an argument specifically for it here. permalink embed save parent report give award reply [–]amretardmonke 7 points 1 day ago Btc is more liquid. Try transferring gold or stocks to someone in another country, see how long it takes you. permalink embed save parent report give award reply [–]Whatnam8 1 point 1 day ago The Central Banks have been buying gold at a very fast pace. They know the dollar bill won’t be squat and they will have a currency that is actually worth something, gold permalink embed save parent report give award reply [–]amretardmonke 1 point 19 hours ago That's great, but its hard to do international business in gold. Soon its going to turn into using "paper gold", and then greed takes over and somehow they end up with more paper gold than actual gold. Tale as old as time. permalink embed save parent report give award reply [–]Adamn27 6 points 1 day ago It is the same permalink embed save parent report give award reply [–]bitsteiner 1 point 1 day ago Or apply a negative interest rate. permalink embed save parent report give award reply [–]Kaizen_Kintsgui 1 point 1 day ago Literally negative interest rates. They gain no new capability. permalink embed save parent report give award reply [–]bawsofsteel 19 points 1 day ago Why would I want to hoard it when bitcoin exists? The UK government are just trying to make it seem like their token will be worth something. permalink embed save report give award reply [–]NE0-Genesis 7 points 1 day ago Just curious what happens if the pound hyper inflates and the government comes out with cbdc which is heavily restricted and doesn't allow you to purchase or cash out bitcoin? permalink embed save parent report give award reply [–]CallingVoid 19 points 1 day ago Probably something similar to what's happening in African countries that ban BTC, where a circular bitcoin economy develops. permalink embed save parent report give award reply [–]TechHonie 12 points 1 day ago Once a circular Bitcoin economy develops we rule the world. Frankly I can't wait because I've got my eye on a large swath of Canadian territory that I plan to seize control of. permalink embed save parent report give award reply [–]Double-Tap9336 5 points 1 day ago I smell a citadel in your future. permalink embed save parent report give award reply [–]BringTheFingerBack 3 points 1 day ago Sounds like you are just as bad as the people Bitcoin is trying to overthrow permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago No people buy land all the time. People save money in gold and buy land. Is gold trying to overthrow people? No. Bitcoin and gold are inanimate objects, like chairs or tables or rocks or sand. They don’t try to overthrow things or people, they don’t have a mind of their own, they just exist. permalink embed save parent report give award reply [–]BringTheFingerBack -3 points 1 day ago What? permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago Bitcoin is an inanimate object like a rock. Do you also talk about rocks trying to overthrow people? Do you ascribe traits like good and evil to different colored rocks? permalink embed save parent report give award reply [–]BringTheFingerBack 0 points 1 day ago What does that have to do with what I said? permalink embed save parent report give award reply [–]lifegoeson2727 0 points 1 day ago You were talking about bitcoin trying to do something- I was just pointing out bitcoin has never tried to do anything, much in the same way a shoe lace has never tried to do anything, it cannot think, it simply exists like a rock in a valley. permalink embed save parent report give award reply continue this thread [–]lifegoeson2727 1 point 1 day ago How can bitcoin try to do something? permalink embed save parent report give award reply [–]BringTheFingerBack 1 point 1 day ago TechHonie sounds as bad as the people Bitcoin is trying to overthrow permalink embed save parent report give award reply [–]NE0-Genesis 2 points 1 day ago But what if the vast majority of people adopt the cbdc leaving only minority holding out for and using bitcoin. Bitcoin price plummets permalink embed save parent report give award reply [–]CallingVoid 4 points 1 day ago That's why I used Africa as an example. Currently bitcoin trades at something like a 60% premium in some Africn nations because people want it badly but can't easily purchase it with their bank accounts. There are still ways to get it though. It doesn't matter if the majority still use CBDC, in fact, that's the future I expect (I don't buy into hyperbitcoininisation). Bitcoin is the opt-out of this abusive model, and it can't be stopped. permalink embed save parent report give award reply [–]NE0-Genesis -4 points 1 day ago Bit it's proven to not be a store of value during bad economic times. You might as well buy gold now and wait for the cbdc to come out, then use the gold to buy bitcoin when it plummets to like $100 after all governments simultaneously ban ot in the west. permalink embed save parent report give award reply [–]CallingVoid 4 points 1 day ago Not sure I agree with your statement, bitcoin hasn't been around for long enough yet. But what I can say for sure is bitcoin goes far beyond just being a store of value. That's a shitcoin narrative. Bitcoin is a permissionless network of sovereign individuals, it is the base layer on which so much can and likely will be built. As for timing the market. It's not that simple of course. If I could predict the future I would trade, but I can't. I consider it safer to accumulate now and arm myself with the tools to buy when the government bans it. That way I can average down if I need to. Question, what makes you think gold is safe in this scenario? If they go for bitcoin you can bet they'll go for gold as well. permalink embed save parent report give award reply [–]Correct-Log5525 1 point 15 hours ago Doubt that will happen permalink embed save parent report give award reply [–]amretardmonke 2 points 1 day ago Quite the contrary. Bitcoin is going for a premium in places where it is banned, just like any other banned material, such as drugs or weapons, etc. permalink embed save parent report give award reply [–]Double-Tap9336 1 point 1 day ago I can't wait for that, I would be exit liquidity for all. permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago What if everyone is forced to sell all their gold all their land all their jewelry all their artwork all their technology all their work everything? For cbdc. Well at that point you must ask yourself if you can’t buy anything with cbdc, then what’s the value of cbdc? It’s a fundamental tenet of a currency that it is worth more the more things you can buy with it. A dollar which can buy nothing is worthless, a dollar which can buy everything on earth is worth everything on earth. They could ban you from buying bitcoin. And they could ban you from buying gold. But as long as you can pay for a haircut with cbdc, the barber can pretend to cut your hair then send you bitcoin. As long as something can be bought with cbdc, you can buy bitcoin with cbdc. And if you cannot buy anything with cbdc, then cbdc is functionally worthless because there is no answer to one simple question: what can you use it for? permalink embed save parent report give award reply [–]TechHonie 3 points 1 day ago Then you work for Bitcoin over the internet and you send Bitcoin to people over the internet to receive packages of supplies. permalink embed save parent report give award reply [–]NE0-Genesis 1 point 1 day ago So you assume the vast majority of people won't adopt the cbdcs even after hyper inflation. And you assume you will be able to do jobs under the table for bitcoin? permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago If you say you gave me a haircut, I say you gave me a haircut, I send you CBDC and you send me bitcoin- how does the government prevent that? permalink embed save parent report give award reply [–]NE0-Genesis 1 point 1 day ago Because the person who gave you the haircut can't get bitcoin since cash is gone and the cbdc is restricted permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago So we can’t get haircuts in this new cbdc economy? Everyone just has long hair? permalink embed save parent report give award reply [–]NE0-Genesis 2 points 1 day ago No if you want a haircut you'll have to transact in cbdcs permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago I never said don’t transact in cbdc. I said you pay your barber for a haircut in cbdc. He gives you bitcoin. Is the government coming to inspect if your hair is shorter? Even if it is the barber could just cut off some of your hair to satisfy that inspection permalink embed save parent report give award reply [–]NE0-Genesis 1 point 1 day ago Again, how is your barber going to send you bitcoin unless he had it before cbdc? If the cbdc is restricted, nobody will be able to buy bitcoin anymore. permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago He can easily obtain bitcoin by mining it. Also he can buy it himself from someone who runs another business instead of haircuts maybe hes a plumber. Also all bitcoin currently in existence is already owned by people like the barber. It won’t just cease to exist when cbdc comes in to existence. permalink embed save parent report give award reply [–]NE0-Genesis 1 point 1 day ago Yes but it's value might plummet, that's all I'm saying permalink embed save parent report give award reply continue this thread [–]Z3LS3 1 point 1 day ago You are twisting yourself into a pretzel trying to make your hypothetical work. It’s a silly idea. This wouldn’t be a practical or rational strategy for western governments. I’m an electrical contractor. I do electrical work for you- and offer a 5% discount if you transfer me Bitcoin instead of CBDC. Other people that use bitcoin take me up on this, to the tune of half my gross profit. Now the balls in your court, IRS. You want to get paid, right? So, BTC is either legal tender which you will accept tax payments in, or you’re going to give me a CBDC/BTC swap. permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago I never said cash. I pay him CBDC for a haircut. He gives me bitcoin. How does the government prevent that? permalink embed save parent report give award reply [–]Ur_mothers_keeper 2 points 1 day ago Purchase "paintings" that secretly come with bitcoin for free. What do you think the art market is even for really? permalink embed save parent report give award reply [–]mottledshmeckle 1 point 1 day ago Paying for human trafficking. permalink embed save parent report give award reply [–]ThreetoedJack 1 point 1 day ago Money is fungible though. The cbdc that I can buy bread with but can't buy BTC with is what I'll use to buy bread. But then the non-cbdc money that I was going to use to buy bread with is now freed up to buy BTC. permalink embed save parent report give award reply [–]Satoshi_Nakamoto44 4 points 1 day ago Tory nonce cunts permalink embed save report give award reply [–]murram20 6 points 1 day ago They are just advertising bitcoin permalink embed save report give award reply [–]knuF 5 points 1 day ago “Britcoin” LOL permalink embed save report give award reply [–]Fatbaldmuslim 18 points 1 day ago I don’t believe this, people would just exchange into a different currency inc BTC permalink embed save report give award reply [–]entilfeldigfyr69redditor for 3 months 22 points 1 day ago They could easily ban it's transfer to exchanges and only make it transferable to KYC'd individuals. CBDCs are so programmable they can make it very hard to buy BTC or other assets. permalink embed save parent report give award reply [–]CallingVoid 11 points 1 day ago Use cbdc to buy some asset, trade asset for bitcoin. For an example, you can do it with Amazon gift cards on a decentralized exchange like BISQ (and people do) permalink embed save parent report give award reply [–]Halo22B 15 points 1 day ago Awesome until they say 3gift cards is your annual limit....or they go to Amazon and ask who made a purchase using gift card#123abc....they flag you and restrict future use. Or better yet fine you for past "indescretions" People don't understand the control vector a CBDC is. permalink embed save parent report give award reply [–]CallingVoid 6 points 1 day ago No I understand, I simply used it as an example because people currently do it. There are less intrusive commodities that could be traded for bitcoin. And not everything needs to go via a CBDC. For example, I'm a farmer that sells at a local market. I use CBDCs to buy my seed and fertilizer. I go to market and I sell my produce to regular CBDC using customers, I also allow BTC under the table. So some customers buy my produce for BTC and I report it as unsold/spoilt goods. I may offer computer repair services and business may appear slow (because 40% of my clients are off the books, paying in BTC). Oh well! I guess I'm not a natural businessman! There are ways around it with circular bitcoin use. There is already a lot of BTC out there. permalink embed save parent report give award reply [–]Better_Call_Salsa 6 points 1 day ago I make that illegal, all CBDC traded for BTC is rendered void since I can now void any dollar I want to. Now it's both illegal and I've nullified the marketplace for any currency swap since it's a financial loss. CBDC is literally the worst power you can give to a government, it is absolute slavery. permalink embed save parent report give award reply [–]CallingVoid 2 points 1 day ago Make it illegal all you like, you have to be able to identify when a transfer is used to purchase bitcoin. That is easy if you ban exchanges, but much, much harder, much more intrusive for p2p. But regardless I may never have swapped currency for bitcoin. I traded goods and services. No CBDC can track that. Remember, making something illegal doesn't stop it from happening, especially if people think it's not justified. permalink embed save parent report give award reply [–]MiceAreTinyredditor for 6 weeks 1 point 22 hours ago You can make something illegal, but without a way to enforce it, it is useless. permalink embed save parent report give award reply [–]lifegoeson2727 4 points 1 day ago If you say you gave me a haircut, I say you gave me a haircut, I send you CBDC and you send me bitcoin- how does the government prevent that? permalink embed save parent report give award reply [–]Halo22B 3 points 1 day ago Where is your license to cut hair? Are you making a profit cutting hair? Why aren't you paying taxes on that profit?.....and on and on and on permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago What are you talking about? You have your license to cut hair, you are making a profit cutting hair and you are paying taxes. Just like in todays world. permalink embed save parent report give award reply [–]Bitcoin_Maximalistredditor for 3 months 2 points 1 day ago because your gov banned bitcoin and your hairdresser won´t touch it because of fear. or because you won´t be able to download a bitcoin wallet in the "appstore" (because it was banned) . only people which a good IT understanding will be able to use it in this case. prepare for that. permalink embed save parent report give award reply [–]lifegoeson2727 0 points 1 day ago Too many people already have electrum and bisq downloaded. The hairdresser already uses bitcoin permalink embed save parent report give award reply [–]alpubgtrs234 1 point 1 day ago Ass, gas or grass…? permalink embed save parent report give award reply [–]Asleep_Plant6117 1 point 1 day ago Gras I guess permalink embed save parent report give award reply [–]Rice-Fragrant 1 point 1 day ago Yup… it will become a black market but it won’t stop anything. permalink embed save parent report give award reply [–]thisguyhaschickens 2 points 1 day ago I assume a CBDC would be peer to peer though? You could potentially bypass an exchange by buying and selling BTC direct permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago Let’s say you say you gave me a haircut, I say you gave me a haircut, I send you CBDC and you send me bitcoin. The government has no way to prevent that? permalink embed save parent report give award reply [–]Rice-Fragrant 1 point 1 day ago It won’t affect getting bitcoin because people could get BTC by BARTER with things like groceries, tools etc… it hampers adaption speed but it can’t stop people actually getting bitcoin. permalink embed save parent report give award reply [–]BTCPriestredditor for 7 weeks 1 point 1 day ago Unless they completly restrict on-and offboarding to exchanges. Better get some bitcoin now and once the shit hits the fan participate in a bitcoin circular economy. permalink embed save parent report give award reply [–]lifegoeson2727 1 point 1 day ago If you say you gave me a haircut, I say you gave me a haircut, I send you CBDC and you send me bitcoin- how does the government prevent that? permalink embed save parent report give award reply [–]Lexsteel11 0 points 1 day ago I mean once you are tagging the cbdcs as individual tokens, it would be pretty easy to run a cross-chain explorer query/GraphQL to see the transaction number and token ids of what you exchanged them for with a kyc exchange. The idea has been floated to continually tax held-wealth as a fine for “not allowing your liquidity to be used productively to the economy” which I could see gain traction unfortunately. permalink embed save parent report give award reply [–]lifegoeson2727 3 points 1 day ago Why do you use kyc exchanges? just use bisq. It’s actually a better user experience than kyc exchanges permalink embed save parent report give award reply [–]Lexsteel11 2 points 1 day ago Well in this scenario I’m assuming a move to cbdcs and taxing held wealth would be accompanied by new measures to force people through the preferred channels of exchange permalink embed save parent report give award reply [–]lifegoeson2727 2 points 1 day ago How could you prevent someone from using a no kyc exchange though? By definition it does not know the identity of its users permalink embed save parent report give award reply [–]Lexsteel11 2 points 1 day ago Subpoena the servers for the site (as long as its domiciled in a country with extradition/cooperation between governments) and get IP addresses of everyone conducting transactions. Let’s say 20% of those addresses knew to use a vpn/dns proxy but 80% either didn’t or had a leak in their setup (I’d say that’s a generous estimate of the population knowing how/why to set that up). Then just make a public spectacle of throwing a few of those in the 80% in cages and you will scare most people into compliance permalink embed save parent report give award reply [–]lifegoeson2727 4 points 1 day ago* Hmm but that’s actually not how it works. Bisq does not use a website, and there are no bisq servers. Each bisq users data is stored on the respective bisq users devices- to such an extent that if their device is no plugged in to a power source and connected to the internet with the bisq application installed and open and running, you functionally do not exist as far as bisq is concerned. Your bisq orders will only be visible for the duration that your computer is on and connected to the internet with your bisq application open. You can think of it like a system of walkie talkies- bisq users don’t have a server in the middle, it’s walkie talkies communicating directly with each other. If a walkie talkie is off, they cannot hear or see you, and you cannot hear or see them. There is no satellite between the walkie talkies. Additionally all bisq traffic runs through tor, so no one’s IP is visible. permalink embed save parent report give award reply [–]Lexsteel11 2 points 1 day ago That’s actually really interesting and I didn’t know that was functionally how bisq worked- that’s a good point, not sure if they could get a list of addresses of those who downloaded it or last connection date/time but all I know is the FBI caught ISIS members using private party chat on Xbox live to communicate rather than sms/calls and that blows my mind how they could have caught that, so in my mind I just know there are people smarter than me being paid to solve these problems and given enough time they probably could, but idk permalink embed save parent report give award reply [–]graphic-crypto 4 points 1 day ago Thank but I’ll just be hoarding bitcoin permalink embed save report give award reply [–]HamsterNo7320 3 points 1 day ago Pay wall, anyone? I want to read the whole article. permalink embed save report give award reply [–]ChuckieEgg77 4 points 1 day ago https://12ft.io/proxy?q=https%3A%2F%2Fwww.telegraph.co.uk%2Fbusiness%2F2023%... permalink embed save parent report give award reply [–]HamsterNo7320 1 point 1 day ago I don't have any reward, so take that response as one. Anyway, so all you did is use 12ft.io? How can I use it myself? Does it works on every website with a paywall or is it specific to a few ones? permalink embed save parent report give award reply [–]ChuckieEgg77 3 points 1 day ago Just go to https://12ft.io and paste the article's address into the box. It might not work for every website but it seems to have fairly good coverage. permalink embed save parent report give award reply [–]stevem292 1 point 1 day ago thx permalink embed save parent report give award reply [–]bitsteiner 2 points 1 day ago archive.is permalink embed save parent report give award reply [–]Opening-Group-7841 2 points 1 day ago Bullish permalink embed save report give award reply [–]TaiwanNumberOne1 2 points 1 day ago No problem, just use the shitcoin to buy BTC. Problem solved. permalink embed save report give award reply [–]MrQ01 2 points 1 day ago I still can't see the connections being made between CBDCs and Bitcoin. If the UK wants to ban Bitcoin, then can just ban crypto exchanges (from being used by UK citizens), and they can do this today and drive Bitcoin to the underground - while we're still in the midst of a bear market. They've already banned crypto ETFs, crypto leveraged trading etc. But they don't ban exchanges. Meanwhile, using CBDCs to attain Bitcoin is even harder to control, because all you're doing is transferring your CBDC to someone else - there's zero method of proving it was used in parallel with a P2P transfer. Am I missing something? I definitely don't agree with the idea of banning GBP hoarding, but this is a separate issue to Bitcoin. permalink embed save report give award reply [–]stevem292 2 points 1 day ago talk of 'consultation' until 2025 and the 'end of the decade' for the infliction of this nonsense. moving at the speed of bureaucracy, these degenerates shuffling into obsolescence is a wretched spectacle. most of this stuff honestly seems to be happening over my shoulder of late - they're talking only to themselves, publicly demonstrating their irrelevance - i can't be the only one sensing this, as there's nothing particularly special or exceptional about me. permalink embed save report give award reply [–]PointOfTheJoke 2 points 1 day ago Sometimes I think mainstream global Bitcoin adoption is a pipe dream. Then old dingbats in power say words and im convinced its inevitable. permalink embed save report give award reply [–]before686entenz 1 point 1 day ago Misleading title. They plan to prevent people withdrawing all their money from banks into it to prevent a bank collapse. permalink embed save report give award reply [–]bitsteiner 1 point 1 day ago That would be the consequence of "hoarding" CBDC. Nothing wrong with the title. permalink embed save parent report give award reply [–]fnetma 2 points 1 day ago Buy Bitcoin permalink embed save report give award reply [–]Automatic-Ad3612 2 points 1 day ago What happens to the black market weed game when they do away with the almighty dollar? Asking for a friend permalink embed save report give award reply [–]OB1182 1 point 1 day ago They also could BAN savings accounts with banks now. But they won't. permalink embed save report give award reply [–]OkeyDokeyWokey 0 points 20 hours ago Considering there is no difference between a savings and checking account other than semantics, they have no reason to. Interest rates are negligible or non-existant already. permalink embed save parent report give award reply [–]BastiatF 1 point 1 day ago Why would you self-custody a CBDC which is entirely under the control of the central bank anyway? permalink embed save report give award reply [–]bitsteiner 1 point 1 day ago Right, a CBDC "wallet" will simply access your personal account with the central bank. permalink embed save parent report give award reply [–]BastiatF 1 point 1 day ago The difference with a traditional bank account being that they can restrict, freeze or expire your funds at will and there is nowhere else to go permalink embed save parent report give award reply [–]bitsteiner 0 points 1 day ago They can do that with both, no difference. permalink embed save parent report give award reply [–]BastiatF 1 point 1 day ago No, your bank cannot freeze or expire your funds AT WILL. Also if you don't like your bank, you can go to another. If you don't like your central bank, where do you go? permalink embed save parent report give award reply [–]bitsteiner 1 point 1 day ago Banks can't do that at will, but they have to by law based on suspicion of money laundering. I agree, CBDCs will make it worse, but on the other hand there is not the counter party risk of a bank failure. permalink embed save parent report give award reply [–]BastiatF 1 point 21 hours ago I'd take that any day compared to the risk of having my money frozen because the state doesn't like my social media posts or my diet, imposing negative rates and spying on every single one of my transactions. permalink embed save parent report give award reply [–]CYjgb 1 point 1 day ago Fucking Commies!! permalink embed save report give award reply [–]Victouflachips 1 point 1 day ago Source ? permalink embed save report give award reply [–]harmlessdissent 1 point 1 day ago How are they going to artificially give this shit token any value at all? permalink embed save report give award reply [–]Lam7r 1 point 1 day ago Same way they artificially give the paper money value permalink embed save parent report give award reply [–]skyboy10 1 point 1 day ago Using controlled “crypto” defeats the whole purpose of it permalink embed save report give award reply [–]Tipyapha 1 point 1 day ago A clown country permalink embed save report give award reply [–]Dazzling_Marzipan474 1 point 1 day ago Better load up on BTC now fellas. permalink embed save report give award reply [–]Lam7r 1 point 1 day ago I draw all my money out of my bank now and save in BTC and boring stocks and they haven’t banned me so far. Not that I would save in a digital £ either so no matter permalink embed save report give award reply [–]tjangofat 1 point 1 day ago Arent most banks currently also buying bitcoin as assets? permalink embed save report give award reply [–]bitsteiner 1 point 1 day ago It is understood that Britons will initially be limited to transferring a few thousand “digital pounds” into their accounts under plans being drawn up. The limit will be imposed in order to prevent “large and rapid outflows” from traditional high street banks. Officials fear that the frictionless nature of digital money would allow people to shift their wealth almost instantly between accounts, giving rise to the risk that banks could quickly collapse if they find themselves under stress and customers begin to withdraw their funds. Right, it would empty the reserves of the banks if only a small fraction of deposits was transferred into CBDCs, hence banks run fractional reserve. There will be a also ban on transferring your CBDC in and out of the bond market, since it would allow people to gain interest on their savings while bypassing banks, since a CBDC doesn't pay interest. permalink embed save report give award reply [–]ThomasAurlant 1 point 1 day ago All is built on consume, consume more and consume again. So the best way to make people consumé is to add a Time value on money. Could be inflation too. permalink embed save report give award reply [–]zesushv 1 point 1 day ago It's not here yet, they are making efforts to make it hell there. permalink embed save report give award reply [–]BEETOKENS 1 point 1 day ago Just sell it all and buy bitcoin... Problem solved permalink embed save report give award reply [–]Enormouslypoor 1 point 1 day ago Only the chosen ones are allowed to save and invest. The rest are their slaves, they don’t deserve owning anything. permalink embed save report give award reply [–]GodOfOdium 1 point 1 day ago Perfect!! What more can you ask for? permalink embed save report give award reply [–]GodOfOdium 1 point 1 day ago Just keep as many CBDC as you can afford to lose. permalink embed save report give award reply [–]connell83 1 point 1 day ago Why aren't the media calling the government out on this attempt to control and spy on people. A cbdc is literally the beginning of the end of freedom. permalink embed save report give award reply [–]hughlanko 1 point 1 day ago Ah yes, Jeremy… permalink embed save report give award reply [–]Chipjack 1 point 1 day ago Banks make a profit. If they loaned out those profits, rather than loaning out the money they're supposedly holding for their customers, they could continue to be profitable even if every customer showed up and withdrew every bit of their account balances. Unfortunately, that sort of theft-and-fraud-free banking model would be less profitable than the one we've got now, so it's very important to them to embrace the safe new digital money while making sure that they retain the same power over it that allowed them to destroy the value of the old paper money. Flushing the pot does no good if you fish out the shit first and then drop it back into the clean water later. permalink embed save report give award reply [–]Ur_mothers_keeper 1 point 1 day ago This is too good. They can't be this stupid. They're guaranteeing liquidity for other currencies you can save and that don't expire. Gresham's law, people will save, they just won't save pounds. permalink embed save report give award reply [–]Kaizen_Kintsgui 1 point 1 day ago They could do this with negative interest rates. CBDCs give them no new capabilities. And who cares, were going to use bitcoin. I just don't understand why you guys are so afraid of this when you are voluntarliy exiting the fiat system anyway. permalink embed save report give award reply [–]noyrb1 1 point 1 day ago Sounds excellent 😂👍 permalink embed save report give award reply [–]WilsonFx1997 1 point 21 hours ago Crypto regulations are hard i swear😅 permalink embed save report give award reply [–]Puzzleheaded_Heat502 1 point 20 hours ago So you have to buy goods and hoard those instead permalink embed save report give award reply [–]Short-Survey7013redditor for 6 weeks 1 point 19 hours ago Dunno what this means. PDF of the article please. permalink embed save report give award reply [–]likethis999 1 point 18 hours ago They also drive left of the road permalink embed save report give award reply [–]bobbyv137 1 point 17 hours ago ‘Britcoin’ permalink embed save report give award reply [–]emka-ace 1 point 16 hours ago Buy the dip permalink embed save report give award reply [–]sylsau 1 point 12 hours ago CBDCs are an even worse version of fiat currencies. Those who refuse to open their eyes today may regret it in the future with the mass surveillance and controlled society that these governments want to impose on us all over the world. They criticize China but seem to take example without any remorse on the digital yuan and the closed society model that the CCP imposes on its people. Bitcoin is your peaceful weapon to protect from this future. permalink embed save report give award reply [–]ZachCope 1 point 9 hours ago ‘Freicoin’, one of the original shitcoins tried this years ago. It was shit like all shitcoins but at a faster rate of decay. permalink embed save report give award reply [–]PhysicsDazzling1318 1 point an hour ago Q. permalink embed save report give award reply [–]Lovelotsoffreedom 0 points 1 day ago Sorry UK but you guys need #Dero permalink embed save report give award reply