People love to return to Bitcoin as a Trojan hole that we will escape to the old financial system and the government. Stablecoins is a Trojan horse in our system that has already smuggled.
Stablecoins is announced as a savior of the developing world, a positive opening for escaping for them from eroded financial systems and local currency risk. Well, this is the thing related to the trap, they must strip your roaming or do not work well as the traps do?
All the size of the importance of all importance occurs on a very important Blockchains, issued by almost very central smart contracts (with rare exceptions like liquid currently) has the power of freezing or confiscating any stablecoin symbols arbitrarily suspended. One party, the source, for the vast majority of the symbols they issued, can freeze and seize money. anywhere. anyone. Globally.
These Blockchains almost also works on an account form as well, which means that virtual behavior connects every transaction that the user does with one general address identifier, which puts the history of the entire transactions in full view of the world with one look. There is no UTXO assembly, no imaginative analysis, just see the account address.
To collect things further, because all of these chains are very central, there is no program that can be talked about that public users interact with them are completely validated. The governor connects to one of the very central servers every time they interact with their account and link their IP address to this account.
This is a trap. Pure and simple. The United States does not need a biological diversity agreement, but rather has the US dollar stablecoins. It already works in a way that focuses all the special information that can link individuals to their activity on the chain in a few hands. All it takes is one interaction with the KYC exchange, an online publishing address, and a social media account, and your identity has been identified.
STABLECOINs is programmed like CBDC. Just as it is able to carry out restrictions such as money ending, or money that can only be spent in certain ways or certain places. What is the only difference between the important two? Adoption. Stablecoins is viewed positively, and its use is very used, while most places are feelings against CBDCs.
All the pieces there. The central point for controlling the seizure of symbols, a complete lack of privacy that makes one association of Kyc data a permanent monitoring mark, and the full focus of the place where this special information will end. All that is extracted and collected by the United States government whenever it wants, and used to coercion Stablecoin to act on how they see their fitness.
This stablecoins is the US dollar agents, and they must interact with the old financial system, and they must keep the actual dollars and the treasury. It requires how they work. They are under the thumb, especially the thumb of the United States government, whenever the government desires.
It amazes me that people not only accept the process of happening, but some chant it. Bitcoin aims to be sovereign and free money that enables anyone to do what they want with their own wealth. However, it seems that we are now exactly the opposite of the Bitcoin Coatetails ride for adoption in parallel.
Help me make this logical.
CBDCs is a ghost man to keep us distorted from the very real threat to the already financial monitoring system here, Stablecoins. We must face it, do not sweep it under the carpet.
This article is taking. The opinions expressed are fully author and do not necessarily reflect the views of BTC Inc or Magazine Bitcoin.
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