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I’m niching down to focus on my coverage of CBDCs, my only substack going forward will be CBDC Watch
CBDCs aren't covered enough
is where you can find all my crypto news & educational content
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BowTiedScholar
@BowTiedScholar
Covering CBDCs on CBDC Watch | Writer for | Simplifying Crypto & CBDCs | Not Your Keys, Not Your Coins | #Bitcoin
BowTiedScholar’s Tweets
These are the questions you should be asking yourself
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Good morning, anon. Are you working on your WiFi money?
Or are you waiting for glorious comrade Xi to airdrop party-approved CBDCs into your wallet?
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Additionally, Digital Euro timeline will be announced in Aug
You paying attention yet?
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JUST IN: 
Bank of England believes the UK will create a digital pound CBDC by 2030.
Bank of England believes the UK will create a digital pound CBDC by 2030.He also followed his above statement with a prediction that the USD does within the next 100 years
Regardless, #bitcoin will still exist
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It’s so funny that he is vehemently against something that is a solution to the “biggest problem” the US faces, as he stated in 2019”
Charlie Munger 🤡
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Charlie Munger, 99 years old, bashes bitcoin again
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When’s the last time you audited your feed on twitter?
The first 25 posts you scroll through, how many are positive, negative, informative, etc?
Are they mostly doom and gloom, or are they mostly giving you information to elevate your position in life?
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10/19/2021 : “CBDC primary features features (safety, liquidity, efficiency, scalability) mean its use by non-residents might…
➡️increase currency substitution risks for weaker economies”
Thus, the urgency to develop a CBDC to retain international competitiveness
High profile investors like Munger like to dismiss #bitcoin on a regular basis
But their takes on CBDCs are non-existent
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Ethereum testnet Zhejiang (The new public Testnet for ETH Withdrawals) launched just about an hour ago
Shanghai hard fork set up for March
If you want to get caught up on the ETH roadmap here’s the guest post on BTB
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FOMC at 2:30pm EST Today
Result?
- Rate Hike Pause20.8%
- 25 bps (Powell Hawkish)37.5%
- 25 bps (Powell Dovish)25%
- 50 bps (Mega Doom)16.7%
24 votesFinal results
Pay your taxes and don’t rug innocent people
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Gn
You know who has no concern about CBDCs?
These mf’ers. True OGs.
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Do you think the average person sees the difference between digital payment apps (ApplePay, Venmo, CashApp), debit cards, and credit cards?
Nope.
That’s one major reason why they don’t talk about or see any problem with CBDCs.
They see it all as the same “means to an end.”
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“Biggest bull trap I’ve ever seen”
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JUST IN: Jim Cramer says we're in a bull market and to "buy the dip."
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Do you think the average person sees the difference between digital payment apps (ApplePay, Venmo, CashApp), debit cards, and credit cards?
Nope.
That’s one major reason why they don’t talk about or see any problem with CBDCs.
They see it all as the same “means to an end.”
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Interesting how Europoor banks can hold up to 2% of reserves in crypto (fully backed reserves)
originally advised 1% + fully backed
US currently advising against this practice based on current WH statements and timeline ahead for regulations
Could open up over time
Quick CBDC Timeline on Nigeria:
A short story of how crypto is stronger than CBDCs
The eNaira is the official retail CBDC of Nigeria
The two applications for the eNaira are called the speed wallet and the merchant wallet, which are available to download on most app stores.
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Looks like, at the least, I have made the realities of CBDCs perfectly clear
As well as you all being a solid audience
Thank you
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Spread for visibility
Poll: Do you believe your country will issue a CBDC?
Show this poll
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I like to routinely share this
Refer to this if you’re ever questioning your security standards
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Reminder on staying safe
•Separate laptop for Crypto
•Gnosis Safe for your hardware wallet
•Make a secure VPN using our guide, don't buy a VPN service
•Use a password manager for websites
•Authy not Google for 2FA
•block malware with hosts and uBlock
Links to guides below
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Poll: Do you believe your country will issue a CBDC?
- Yes96.1%
- No3.9%
76 votesFinal results
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You don’t think CBDC has risen out of nowhere, right?
Little do you know they have been in development for nearly a decade at this point
(Hint: Get a hardware wallet and self-custody your crypto)
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Top 10 Countries - Crypto Adoption:
1. Vietnam 🇻🇳
2. Philippines 🇵🇭
3. Ukraine 🇺🇦
4. India 🇮🇳 (#1 in Retail, DeFi, CEX volume)
5. USA 🇺🇸
6. Pakistan 🇵🇰
7. Brazil 🇧🇷
8. Thailand 🇹🇭
9. Russia 🇷🇺
10. China 🇨🇳
All have major plans for a CBDC launch, 8/10 plan 2023 pilot
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Poll: Do you believe your country will issue a CBDC?
- Yes96.1%
- No3.9%
76 votesFinal results
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Thanks for reading!
Remember this story when people say or ask, “What is crypto’s use case?”
Enjoy more coverage over at CBDC Watch:
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Now, with how powerful the crypto adoption has become, Nigeria and seem to be rolling back their ban and finding a legal framework for crypto
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Official numbers as of beginning of Q4 2022: Total transaction value has risen to just under 18 million (USD)
So far 919,000 customers have been onboarded, and 700,000 transactions have taken place.
Still drastically lower than they’d expect
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Long story short, the CBDC is their objective. Meaning cashless society.
Regardless on their bans on crypto, it continues to dominate locally in Nigeria
Adoption is ~ 100X larger for crypto rather than the CBDC
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Nigerians understand the path forward clearly, as evidenced by the popularity in crypto
Governor Godwin Emefiele said, “The destination, as far as I am concerned, is to achieve a 100% cashless economy in Nigeria.”
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In August, the CBDC program was changed for helping “bank the unbanked”
The continues to speak out against crypto, and eventually turned to limiting use on cash
Dec ‘22, cash withdrawals are limited to 100,000 naira ($225) per week and $45/day
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Meanwhile, the naira has fallen 60% versus the U.S. dollar since October 2014, annual inflation currently over 20% in Nigeria
Nigeria tries to find a way to improve adoption of the CBDC for the unbanked
Banks and see the crypto adoption and the loss they’re incurring
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outlaws commercial banks from dealing in crypto, and try to incentivize user growth in CBDC
Offering 5% discounts on taxi services when paid in eNaira for example
Citizens continue to move to crypto for P2P transfers and payments, especially internationally
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Meanwhile, crypto adoption in Nigeria continued to climb regardless of the national ban.
Nigeria ranked 6 globally the year the eNaira launched
So began to go on the offense to stimulate CBDC adoption and limit crypto adoption in 2022
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End of 2022 estimates less than 0.5% of Nigerians are using the CBDC.
And to put that number into perspective, *more than 50%* of Nigerians use crypto
When the eNaira launched in 2021 users needed a bank acct to transfer money and open an account - limiting adoption
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Ironically, the CBDC was originally supposed to be launched on Nigerian Independence Day (Oct 1, 2021), but was pushed back to October 25, 2021 when it officially launched.
Since then, adoption has not been ideal
…and is a powerful example of how powerful crypto adoption is
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Quick CBDC Timeline on Nigeria:
A short story of how crypto is stronger than CBDCs
The eNaira is the official retail CBDC of Nigeria
The two applications for the eNaira are called the speed wallet and the merchant wallet, which are available to download on most app stores.
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