ECB goes digital




Hawa wameamshwa na digital yuan/rimnbi. China is almost done na yao, US wameshindwa sababu banks na politicians wanazozana where they will eat.

China now threatens to bring competition to the reserve currency without it being a reserve currency. Imagine:

  1. No fees for using visa
  2. No tracking by US
  3. China cornering third world markets.

This thing is easier to use than mpesa. Combine advantages za Mpesa na VISA. There is no way the third world will not embrace it, unless there is interference from western world.

Watch out present mystery Babylon is crumbling down. We don’t their LGBTQchieth democracy. When we are done with Benji America will be a shithole. Russia wameditch Benji,chinku same,EU don’t use that green paper tissue.

Wrong analogy. The money has to come through an exchange. Whether it’s your bank or a central exchange. Therefore there will be a cost. I mean for you to pay Njiru for a goat, you tap a phone app, funds are transferred from your account to his. Who is hosting the accounts?
Any time you go electronic, you leave a footprint. Easy catch by any government. Hackers froze systems and were paid by bitcoins. Yet, the money was recovered. And bitcoins are supposed to be anonymous :rolleyes::rolleyes:

There’s a conspiracy that it was a CIA job. They were able to recover the money… It doesn’t say how. It doesn’t necessarily expose flaw of Bitcoin because possibilities that someone could have been caught and then gave away the accomplices.

I am sure they didn’t track it in the real sense

Hapo ndio umekosea. There is no exchange in the sense that you imagine. There is no intermediary kama bank. Ile pesa iko kwa simu ndio uko nayo. It is digital money, ni kama kuwa na paper money.

Actually if there is an intermediary, then it is the chinese central bank. From the video, that whole ecosystem can survive without wechat and alipay or even internet only that they want to make it popular through them. These charge fees for their services, not on behalf of the chinese government.

You do realize bitcoin was made deliberately transparent? Kuna cryptocoins zingine huku inje zikiibiwa pesa zinaenda ni kama umeibiwa cash.

The 6 Most Private Cryptocurrencies

However, by tracking I also mean, US and European based systems are not involved in the trade and exchange. Hata wakishika mtu and they hack through phones, it does not benefit them the way VISA na banking industry huwabenefit

Hiyo distributed transaction list huwa na kila kitu. Iko na handle ya mtu na ile transaction amefanya. It is very easy to trace the stolen bitcoins to the handles that stole them. The only hard part is associating the handle to a real person, na hiyo ni kazi rahisi sana kwa akina FBI CIA e.t.c.

So now Chinese central bank is monitoring your activities. What difference is it than US doing it? Bitcoin is only as transparent as you want. Advanced governments can easily track your transactions. The only bottleneck is that they have to do it singularly. That is one by one.

In the electronic world, the more you try to hide your activities, the more the clues you leave.

It may not be good for individual bonobos but good for the Chinese government and all governments who want to do foreign trade without interference from the west.

Bitcoin is very transparent. It was made deliberately so for traceability.

I thought bitcoin was created for the dark net?

Weee boss. Unaturudisha crypto 101. The only thing bitcoin tries to hide is the user, but not the transactions. All bitcoins can be traced to all exact transactions they were used in even to the date they were created and entered circulation.

Users hufichwa tu na handle but if you know someones handle you can tell him all his transactions. You van’t use his bitcoins but you can tell him how much he has.

This is only true for bitcoin. I dont know about dogecoin e.t.c. but a wiser hacker/ dark net guy should use crypto coins like monero.