Cryptocurrency: ECB Spews Outright Lies about CBDC Privacy... WarOnCash, Electricity, Hacks

[grarpamp]

Both Govt and Corp coins just like legacy Fiat and Banking, will
Spy, Control, Sell, Share, Censor, Jail, Steal from, and Shut You
and Freedom Down, obviously... so they outright lie to you about it,
and attempt to pretext your brains into submission with some
FUD and happy bullshit.

If GovCorp is fighting distributed permissionless uncensorable
unconfiscatable p2p cash defi, human rights, freespeech, monetary
competition and choice, cryptography, open free markets, etc as
hard as they are, and even harder yet to come... then the obvious
answer and truth is that crypto must be incredibly good for you
to have and use. So go do exactly that.



https://www.coindesk.com/euro-central-bank-digital-currency-privacy-panetta

The European Central Bank (ECB) is better suited than private
companies to protect user privacy for the eventual adoption of a
digital euro, according to an executive board member. From a report:
In an interview with the Financial Times on June 14 and published
Sunday, Fabio Panetta said his institution had no commercial interest
in storing, managing or monetizing user data. The issue over privacy
in the digital euro is a focal point for Europeans as are concerns of
security, according to a recent survey by the ECB. "If the central
bank gets involved in digital payments, privacy is going to be better
protected," said Panetta. "We're not like private companies." The
banker also said people felt safer when their information was handled
by a public institution, adding the bank would do a better job. "There
are many ways in which we can protect confidential data while allowing
the checks foreseen by law to avoid illicit transactions, such as
those linked to money laundering, the financing of terrorism or tax
evasion," said Panetta.



Central Bank Problems...
https://www.bbc.com/news/stories-57520169
https://www.bbc.co.uk/programmes/w13xtvg9/episodes/downloads



Electricity usage is ABSOLUTELY NOT the reason GovCorp is
shutting down cryptocurrency miners (ie: China), otherwise GovCorp
would shutdown the BIGGEST user and inefficient waste
of electricity on the planet... itself. What GovCorp is really
doing is entering into abject fear survival fight phase, thus trying
to shutdown the highly efficient competition of cryptocurrencies.

Cryptos will win.





https://www.msn.com/en-us/money/other/a-real-estate-mogul-has-a-dollar100-million-plan-to-save-the-internet/ar-AALfdW1

 "Frank McCourt, the billionaire real estate mogul and former owner of
the Los Angeles Dodgers, is pouring $100 million into an attempt to
rebuild the foundations of social media," reports Bloomberg: The
effort, which he has loftily named Project Liberty, centers on the
construction of a publicly accessible database of people's social
connections, allowing users to move records of their relationships
between social media services instead of being locked into a few
dominant apps.

The undercurrent to Project Liberty is a fear of the power that a few
huge companies — and specifically Facebook Inc. — have amassed over
the last decade... Project Liberty would use blockchain to construct a
new internet infrastructure called the Decentralized Social Networking
Protocol. With cryptocurrencies, blockchain stores information about
the tokens in everyone's digital wallets; the DSNP would do the same
for social connections. Facebook owns the data about the social
connections between its users, giving it an enormous advantage over
competitors. If all social media companies drew from a common social
graph, the theory goes, they'd have to compete by offering better
services, and the chance of any single company becoming so dominant
would plummet.

Building DSNP falls to Braxton Woodham, the co-founder of the meal
delivery service Sun Basket and former chief technology officer of
Fandango, the movie ticket website... McCourt hired Woodham to build
the protocol, and pledged to put $75 million into an institute at
Georgetown University in Washington, D.C., and Sciences Po in Paris to
research technology that serves the common good. The rest of his $100
million will go toward pushing entrepreneurs to build services that
utilize the DSNP...

A decentralized approach to social media could actually undermine the
power of content moderation, by making it easier for users who are
kicked off one platform to simply migrate their audiences to more
permissive ones. McCourt and Woodham say blockchain could discourage
bad behavior because people would be tied to their posts forever...

Eventually, the group plans to create its own consumer product on top
of the DSNP infrastructure, and wrote in a press release that the
eventual result will be an "open, inclusive data economy where
individuals own, control and derive greater social and economic value
from their personal information."