Bitcoins/Litecoins/Virtual Currencies

I think we've all seen this coming for a while. They need to control the currency to control everything else. Defi and proper crypto directly threaten that because they aren't fungible enough for the desires of a central bank. They give people freedom to do what they want with their money, and we can't really have that now can we?

The problem is that in the long run so far the internet and technology are pretty much undefeated when providing better and less restrictive access to people for things. And enough technologies exist to bypass things they put into play for those who want. Although with the supposed anti-TikTok legislation they're trying to essentially outlaw using a VPN for anything they don't approve of as well.

Sanrith Descartes said:

Im reminded of the game Shadowrun where all illicit activities was paid for with "cred sticks". Digital money stored on stick drives.

Click to expand...

Essentially a bunch of ubquitous cold storage wallets. Yes, I see that becoming a thing. In a way we have something approaching that right now with the pre-paid debit cards. You can go to Walmart, get a card, put money on it, then use it as a debit card. Tons of people do this. That's essentially the cred stick right there using a centralized database for the credits. Now, take that and thanks to proper cryptography you can store and authenticate the amount there without the centralized bank database (which you can do with things like a Trezor) and you have the SR Credsticks.

When you think about it Amazon gift cards are almost their own currency. All they'd have to do it stop denominating them in $ and say something like A-bux, then say "an A-buck is always worth one dollar USD". Then open up the ability for people to use amazon gift cards at merchants. Enough people start using them and then they start selling things in A-bux native.... and a slippery slope to a corporate currency is on the way.

Heck, when you think about it, you could quick spawn a BTC wallet, transfer BTC to it, then print a QR code for the seed phrase and use that as paper money to transfer the BTC. Someone gets that, reads the QR code and transfers the contents to their BTC wallet...