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2025-03-29 09:45:37 UTC

BankSith on Nostr: When you deposit money in a bank, it's no longer truly yours. By doing so, you've ...

When you deposit money in a bank, it's no longer truly yours. By doing so, you've entered into a legal agreement that essentially lends your money to the bank. Your deposit becomes an IOU (I owe you) and a liability for the bank, which can be denied under certain conditions, such as capital controls imposed by the government, technical glitches or the bank's own insolvency. Consider a future where cash is obsolete and a Central Bank Digital Currency (#CBDC) is the only means to purchase essentials like groceries, pay rent, or buy necessary medication. What happens when your app malfunctions? How many days can you go without food or urgent medication for a sick family member? Remember, these scenarios are already a daily reality for billions of people in developing countries. Neither the government nor banks are your allies in this regard. Resist CBDCs at all costs and educate yourself about #bitcoin on #nostr here:

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