Hi,
we see many countries getting into the idea of getting everyone into CBDC and regulating crypto on a very strong basis. Is this good or bad?
On some strange way, regulating crypto will add a certain protection degree and CBDC will make central banks available for a broader side of the masses.
On the other side, we will turn into China, where people are followed on every step, every action is noted and freedom does not exist, not even for the rich ones.
CBDC will give the government full control on your finance. Nothing will remain unrecorded, nothing. Everything will be watched by big brother and to some extent, you will get a score based on your purchasing behaviour. This exists in China, where people are rated by their vote, spendings and every choice they do in their lives.
CBDC aim to make cryptos futile, by showing people that there is no need for more digital currencies if you have one already.
Here is the fine print, cryptos make you independent, CBDC dependent on an entity that only wants to control you as an individual. I love the personal freedom and space. Sometimes I like GDPR, as I'm not bothered on the phone by annoying sellers, and when I'm bothered I say only GDPR, and people leave me alone.
I want to have the same privacy also towards my money and spending behaviour, and with over regulations and CBDCs this will be very tough to achieve, even if not impossible.
Do I vote against them? Of course, as I'm an individualist which loves privacy.
How do you see it? Would you like to see everything over regulated and CBDC in place? If yes, why? If no, also why?