Open source code doesn't mean anything as long as it's CBDC

[jrrsparkles]

From Brazil to Norway, there is plenty of evidence that governments are planning to use CBDCs to abuse their people.

People are taking notice more each day that central bank digital currencies, or CBDCs, are not worth the risk. Yet, to combat these concerns, some policymakers have been increasingly looking toward open-source coding as a way to offer transparency and perhaps win the public’s trust. But make no mistake, while transparency is welcome, it’s no silver bullet.

For those familiar with cryptocurrency, the concept of using open-source code needs no introduction. However, for those that might not be familiar, the concept simply refers to publicly publishing the source code behind a project instead of locking it away as confidential or a trade secret.

‘Open-source’ CBDCs aren’t going to protect you from government

Interesting but stupid as well, the government is trying to hide behind the curtain of open source code which has nothing to do with the people who seek the actual advantage of crypto which is decentralization.

People keep us ignorant about how money works for too long but is it still possible for them to keep us that way?

[btc78]

From Brazil to Norway, there is plenty of evidence that governments are planning to use CBDCs to abuse their people.
For those familiar with cryptocurrency, the concept of using open-source code needs no introduction. However, for those that might not be familiar, the concept simply refers to publicly publishing the source code behind a project instead of locking it away as confidential or a trade secret.

I know for a fact that many people will fall victim to such illusions by the government. Many might be interested in investing in crypto but will then opt for CBDCs instead which is a mistake if they truly value their privacy.

People keep us ignorant about how money works for too long but is it still possible for them to keep us that way?

It’s our word vs theirs. Many will still believe the government as it is the authority and the controller of all things in a nation. No matter how hard we try to spread knowledge, not everyone will believe and be willing to go against what the government is telling us.

[jrrsparkles]

From Brazil to Norway, there is plenty of evidence that governments are planning to use CBDCs to abuse their people.
For those familiar with cryptocurrency, the concept of using open-source code needs no introduction. However, for those that might not be familiar, the concept simply refers to publicly publishing the source code behind a project instead of locking it away as confidential or a trade secret.

I know for a fact that many people will fall victim to such illusions by the government. Many might be interested in investing in crypto but will then opt for CBDCs instead which is a mistake if they truly value their privacy.

People keep us ignorant about how money works for too long but is it still possible for them to keep us that way?

It’s our word vs theirs. Many will still believe the government as it is the authority and the controller of all things in a nation. No matter how hard we try to spread knowledge, not everyone will believe and be willing to go against what the government is telling us.

Let's forget the privacy and centralization for a moment but it's just another stable coin issued by government and in reality it doesn't really any different from the traditional fiat we use with the internet banking so for someone who thinking about investing purposes can't really fall for this.

[o48o]

From Brazil to Norway, there is plenty of evidence that governments are planning to use CBDCs to abuse their people.

People are taking notice more each day that central bank digital currencies, or CBDCs, are not worth the risk. Yet, to combat these concerns, some policymakers have been increasingly looking toward open-source coding as a way to offer transparency and perhaps win the public’s trust. But make no mistake, while transparency is welcome, it’s no silver bullet.

For those familiar with cryptocurrency, the concept of using open-source code needs no introduction. However, for those that might not be familiar, the concept simply refers to publicly publishing the source code behind a project instead of locking it away as confidential or a trade secret.

‘Open-source’ CBDCs aren’t going to protect you from government

Interesting but stupid as well, the government is trying to hide behind the curtain of open source code which has nothing to do with the people who seek the actual advantage of crypto which is decentralization.

People keep us ignorant about how money works for too long but is it still possible for them to keep us that way?

It's coming, no matter if you want it or not, automation of everything just saves so much money with tax avoidance, making black markets way more harder etc... I am not sure what they mean by "abuse" but i guess it'ss just a point of perspective.

I honestly am wondering how illegal drug trade, money laundering and everything like that will work after it gets so much more harder. People say with bitcoin / monero etc, but how exactly when monero isn't liquid anymore and transactions and origin of the money is more and more under an automated microscope. I am guessing there are more ways being developed, and i am assuming they would first use identity theft.

I don't know what you mean by "people" keeping us ignorant but open source definitely means a lot compared to total black box. Just the fact that anyone can audit the code makes it more secure and transparent. It doesn't however have anything to do with decentralization or cryptocurrencies with pseudonym accounts. Or at least i would be very surprised if any kind of anonymity / pseudonymity would be left except for some small grocery store shopping.

[Dunamisx]

We should not get it all wrong, its either a currency is under a centralized system or it is independently existing on it own under a decentralized digital network, now we should not let the government deprived us of calling their own digital fiat otherwise known as CBDC a crypto, it is not, the peoples need is cryptocurrency and they have seen bitcoin as the only one that can give them the required privacy, security and self control over their finances in crypto and not from CBDC which is also a digital fiat currency controlled by the government.

[Yamane_Keto]

CBDCs will be completely centralized, managed by a specific party/parties and controlled by the state. the fact that the code is open/closed source will not make a difference. On the contrary, open code may mean a greater possibility of loopholes and the loss of citizens’ money. governments will deliberately refrain from publishing the code, especially since nodes will be managed centrally and no new party will be allowed to join.

Open source code doesn't mean anything as long as it's centralized

[jrrsparkles]

It's coming, no matter if you want it or not, automation of everything just saves so much money with tax avoidance, making black markets way more harder etc... I am not sure what they mean by "abuse" but i guess it'ss just a point of perspective.

Government can launch whatever CBDC they want but they can't take the place of the decentralized crypto currency. Abuse means they are trying to cheat the people by saying CBDC is the actual crypto.

I honestly am wondering how illegal drug trade, money laundering and everything like that will work after it gets so much more harder. People say with bitcoin / monero etc, but how exactly when monero isn't liquid anymore and transactions and origin of the money is more and more under an automated microscope. I am guessing there are more ways being developed, and i am assuming they would first use identity theft.

Do you really believe that every trade if drugs, weapons, and so illicit activities are happening via cryptos? Definitely not, USD is the most used money for illegal activities and the comparable amount will exceeds at least 1000x than how much cryptos used for that purposes.

I don't know what you mean by "people" keeping us ignorant but open source definitely means a lot compared to total black box. Just the fact that anyone can audit the code makes it more secure and transparent. It doesn't however have anything to do with decentralization or cryptocurrencies with pseudonym accounts. Or at least i would be very surprised if any kind of anonymity / pseudonymity would be left except for some small grocery store shopping.

Government keeping us knowing about how monetary system works and decentralization is a wake up call but they are trying to bring in their cover up before it reaches more people.

[m2017]

For those familiar with cryptocurrency, the concept of using open-source code needs no introduction. However, for those that might not be familiar, the concept simply refers to publicly publishing the source code behind a project instead of locking it away as confidential or a trade secret.[/i]

The concept of open source is used as an indicator of transparency and honesty, but is it really so? You can make one source code publicly available, which will be clean, but a completely different source code will be installed on the servers. How to check this without an internal audit (which should be carried out by organizations with an impeccable reputation)? No way. The source code for CBDC in the public domain looks like a deception for citizens in order to reduce the intensity of passions and tension in society in order to calm them down.

A small off-topic: the founder says that telegram is the most reliable and secure messenger in the whole world and also has an open source in the public domain, but no one has conducted an internal audit of their servers.

[electronicash]

they will persuade people to use the CBDC and publishing opensource code is just one trick they will do.

but they are all in the process of making their citizen poorer and many individuals will beg for CBDC because of the advantage of CBDC. the government will rain down money such as a stimulus package through CBDC. for people to survive the crashing of economy and rising prices, people will be forced to accept CBDC.

[o48o]

It's coming, no matter if you want it or not, automation of everything just saves so much money with tax avoidance, making black markets way more harder etc... I am not sure what they mean by "abuse" but i guess it'ss just a point of perspective.

Government can launch whatever CBDC they want but they can't take the place of the decentralized crypto currency. Abuse means they are trying to cheat the people by saying CBDC is the actual crypto.

I haven't seen anyone from any government claiming that. Some ignorant people seem to think so because they don't understand what the CBDC means. But there's not even any clarity what kind of platform they should be issued on, and EU at least is still very much exploring and consulting experts on that.

Do you really believe that every trade if drugs, weapons, and so illicit activities are happening via cryptos? Definitely not, USD is the most used money for illegal activities and the comparable amount will exceeds at least 1000x than how much cryptos used for that purposes.

You misunderstood me. Moving to CBDC means there won't be untraceable fiat money anymore. So i was wondering what ways illegal trade is done then? I didn't believe it would be done with cryptos.

Government keeping us knowing about how monetary system works and decentralization is a wake up call but they are trying to bring in their cover up before it reaches more people.

I haven't seen anything like that happening. You can literally study economy and monetary theory in universities etc. There are several research papers on those that you can get freely. No one is preventing us to learn about it. There's free cryptocurrencies lectures all around the internet. No one is censoring them if you don't happen to live in some isolated dictatorship.

[livingfree]

Let's forget the privacy and centralization for a moment but it's just another stable coin issued by government and in reality it doesn't really any different from the traditional fiat we use with the internet banking so for someone who thinking about investing purposes can't really fall for this.

There's no privacy in the government's stable coin and you're right with it. It's about another money produced by the government so with this. They have the cash and CBDC that they have full control on it.

Are they also going to take over digitally?

But what doesn't makes sense is they've got already the support of many companies making apps for them to be used for the transactions online and credit cards as well for the use of the fiat digitally so, there's no need for this TBH.

[nelson4lov]

~Snipped

People keep us ignorant about how money works for too long but is it still possible for them to keep us that way?

While government can't keep citizens ignorant forever, It's very much possible for government to do that for as long as they can. Their primary concern is the legality so they won't be commiting anything that would make international laws to meddle in their business. But there's a pattern I've begun to notice increasingly with crypto. When a government tries to forcibly stop crypto, it's when the citizens double down on their crypto hustle. CBDCs have always been a no-no for me and whatever any government says, I'm not even interested.

There's over 20k crypto, why CBDC? Exactly, no reason.

[jrrsparkles]

There's over 20k crypto, why CBDC? Exactly, no reason.

That boils down to the same reason, people most of them are not aware of what is the difference between centralized and decentralized and some even don't know anything about crypto at all and those are the target by these governments to take down their deciding power of decentralization by seeding them the wrong and misleading information about decentralized crypto and you should trust something that only government provide the same lie that they have been telling us for centuries.

[Mate2237]

Open source Central Bank Digital Currency (CBDC) is not a private currency like Bitcoin, Monero and Ethereum but it is government control digital currency that is to deceive people to invest or use. The open source is just a name and it is not part of the function of the project. Government will never do something that is 100% privacy without KYC. To this level of knowledge we have acquired in this forum government can't deceived us again unless the person is a newcomer to the ecosystem world.

[Yogee]

The Government: We're transparent since the codes are open source. We're not hiding anything from you.

Also the Government: We're transparent and we're telling you right in your face that we control your money when you use our issued CBDC.

I think the above "convo" will easily help even the newbies understand what this gimmick is all about.

[Wexnident]

~

Did they mistake open-source for something else? Lol. At the end of the day THEY are the ones who are going to use it, distribute it, and set the laws. Being open-source has no relation to what they're planning to do lol. If I was able to say, make my own laws when receiving their CBDC in my store then yeah maybe it'd serve some purpose, but otherwise it's just policymakers being dumb a f and going to the route of how famous projects are lol.

Well at least they're open with how they control us, should I be glad about that? I don't think knowing the behind the scenes would update me on how the government works, I already know about it.

[jrrsparkles]

~

Did they mistake open-source for something else? Lol. At the end of the day THEY are the ones who are going to use it, distribute it, and set the laws. Being open-source has no relation to what they're planning to do lol. If I was able to say, make my own laws when receiving their CBDC in my store then yeah maybe it'd serve some purpose, but otherwise it's just policymakers being dumb a f and going to the route of how famous projects are lol.

Well at least they're open with how they control us, should I be glad about that? I don't think knowing the behind the scenes would update me on how the government works, I already know about it.

We never know, even they're going to be transparent with how they control us, it's just a public stunt to create hype something by misleading information and government is very good at doing it for very long so I wonder how those who don't have any idea about real decentralisation will come over their lies.