How will these affect our future spending, savings, and credit ratings?
Join us this month for a discussion led by Nik Mitev, who has kindly volunteered to share his knowledge of CBDCs and crypto.
He will give everyone an overview of how money really works - fiat, BTC, and CBDCs. This will be followed by a Question and Answer session.
Long gone are the days when fiat money (£$¥€) was backed by gold. Today, any state with a sovereign currency can print as much as it wants. They did exactly this in 2008 and again during COVID. It would appear that every time they need money to pay for a larger war. This printing then results in inflation, which impacts the poorest the most. The value of all fiat currencies decreases over time.
Bitcoin was the first cryptocurrency that gained traction, and it was announced in 2008 as an alternative to endlessly devalued fiat. Its main feature is that it is not controlled by any authority, and there's a cap on the maximum BTC that can be created. As of late, it was valued at $1.86 trillion, and, for comparison, all gold in existence is valued at around $18.24 trillion.
After Bitcoin, numerous other cryptos were launched. Some of them have features and functionality with great potential. Others, based on ideas that are flawed and unfortunately, even scams.
CBDCs are the establishment's take on crypto currencies and, unfortunately, the ultimate tool for control. Nearly all governments around the world have related projects that are at various stages. Some are still at the research level, others have been piloted, and they are even deployed.
As usual, we encourage everyone to take part, but please respect the opinions of others and refrain from abusive language.
The event is free under the priviso that everyone buys at least one drink from the bar downstairs. Non-alcoholic drinkers are also catered for.
Look forward to debating with everyone.
