I've seen this screenshot circulating crypto twitter for a while.
I held off on the knee-jerk reaction and decided to dive into its claims.
People can't see the storm on the horizon, if you want to understand what's coming, read this thread 👇 🧵
#Bitcoin #CryptoNews
I held off on the knee-jerk reaction and decided to dive into its claims.
People can't see the storm on the horizon, if you want to understand what's coming, read this thread 👇 🧵
#Bitcoin #CryptoNews
1/ who are 'they' & the useful idiots
Crypto definitely has fanatics who can't see the downsides.
If we don't know who made Bitcoin, we'll never understand why 'they' made it.
After all, the biggest financial shift in history started from an anonymous programmer.
Crypto definitely has fanatics who can't see the downsides.
If we don't know who made Bitcoin, we'll never understand why 'they' made it.
After all, the biggest financial shift in history started from an anonymous programmer.
2/ The argument that Crypto was designed to gently nudge us from one failing currency to another is not implausible.
Given that we don't know who started it.
Having said that Bitcoin and other crypto's are unlikely to be the 'alternative' currency.
Read on 👇
Given that we don't know who started it.
Having said that Bitcoin and other crypto's are unlikely to be the 'alternative' currency.
Read on 👇
3/ Most crypto's are decentralized and the 'network' can't be controlled by one entity.
It can't be frozen, moved, destroyed or stolen easily (or at all).
We've recently seen Bitcoin put to the test in Canada under Trudeau's 'Emergency powers act'
As shown below. ✉️ 💸
It can't be frozen, moved, destroyed or stolen easily (or at all).
We've recently seen Bitcoin put to the test in Canada under Trudeau's 'Emergency powers act'
As shown below. ✉️ 💸
4/ Nunchuk is a non-custodial Bitcoin wallet that was recently ordered by Canada's courts to freeze certain user's assets.
With the results that you'd expect. 👇 🤷
With the results that you'd expect. 👇 🤷
5/ Despite this Crypto isn't immortal.
Government's can ban shops from accepting payments, Bank's can stop you from sending money to exchanges and some government's have turned the internet off in their country before
All of these will affect crypto if done on a global scale.
Government's can ban shops from accepting payments, Bank's can stop you from sending money to exchanges and some government's have turned the internet off in their country before
All of these will affect crypto if done on a global scale.
6/ But the real threat is CBDC's.
'Centralized bank digital currencies'
As I've mentioned earlier Bitcoin (and crypto) is unlikely to be the 'alternative' that the post claims.
For the exact reason's that Canada found out when trying to freeze BTC assets.
'Centralized bank digital currencies'
As I've mentioned earlier Bitcoin (and crypto) is unlikely to be the 'alternative' that the post claims.
For the exact reason's that Canada found out when trying to freeze BTC assets.
7/ CBDC's like all crypto are programmable.
'They' can decide what you buy/sell and when you can do so.
This is why the 'become a commodities chad' is useless advice.
You can't sell your gold if the currency you're selling it for doesn't allow you to do so.
'They' can decide what you buy/sell and when you can do so.
This is why the 'become a commodities chad' is useless advice.
You can't sell your gold if the currency you're selling it for doesn't allow you to do so.
8/ This also goes for Crypto.
Santander blocked me from sending money to an exchange last year under the excuse 'we're protecting you from financial damage'.
I got around it by using Revolut but imagine if the money itself blocked you? You're fucked. No work arounds.
Santander blocked me from sending money to an exchange last year under the excuse 'we're protecting you from financial damage'.
I got around it by using Revolut but imagine if the money itself blocked you? You're fucked. No work arounds.
9/ And look, I'm being sparing with the details on just how fucked CBDCs could make us. I suggest you all dive into them deeper.
But for now... What can we do?
A few things.
But for now... What can we do?
A few things.
10/ Support decentralized projects and fill a portion of your portfolio's with their coins.
Buying commodities on the side isn't a bad idea either.
Stay the fuck away from NFTs and all that metaverse shit, unless you're just doing it for money.
Buying commodities on the side isn't a bad idea either.
Stay the fuck away from NFTs and all that metaverse shit, unless you're just doing it for money.
11/ Follow this account 👍 💸 @CorbettCopy
I tweet a lot about crypto, marketing and wealth creation methods.
I also have an eBook coming out in the next few days that specifically targets crypto trading & asset management.
First 10 copies are free.
I tweet a lot about crypto, marketing and wealth creation methods.
I also have an eBook coming out in the next few days that specifically targets crypto trading & asset management.
First 10 copies are free.
12/ That's it, that's all I got. Peace ☮️
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