Bitcoin compared to digital fiat money is freedom compared to a serfdom regime

Bitcoin, as a decentralized and censorship-resistant currency, protects financial sovereignty from the monetary subjugation of CBDCs and stablecoins, while also resisting the failures of financial institutions.

Opinion by: Simon Cain, contributor at Bitcoin Policy UK

Most jurisdictions globally are researching, developing, or deploying retail central bank digital currencies (CBDCs). If you view these as harmless digital updates in line with old-school paper money, think again. CBDCs have the potential to mean financial serfdom through a panoramic monetary world where authorities tightly control every transaction.

If you think this sounds paranoid, consider the words of Augustin Carstens, head of the Bank for International Settlements—the central bank for central banks around the world. Complaining that governments currently cannot control cash transactions, he stated that with CBDCs, "a central bank would have absolute control over the rules and regulations that will determine the use... we would also have the technology to enforce that.. that makes a huge difference to what cash is."

How “absolute control” could work

CBDCs could be programmed so that you can only buy certain things from certain people, at certain times, on specific days, or only at approved locations.#fiat