Macro Guru Lyn Alden Issues CBDC Warning, Says Bitcoin Is Counterbalance Here’s Why

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Popular macro expert Lyn Alden says they are generally not positive on central bank digital currencies (CBDCs) amid growing adoption of centralized digital currencies.

In a new interview on David Lin’s report, Alden says CBDCs give authorities extraordinary control over end users.

Of course the downside [of CBDCs] is that you centralize everyone’s use of the public ledger.

This gives the government extraordinary control. They can monitor everything, they can freeze funds more easily. They can make it more programmable so they can tell you know interest rates vary depending on your age or other activities.

I think countries like China show some of the scariest scenarios of how this can happen. Where they can link, like a social credit score, for example, to your money and just try to control society to a much finer degree than we are normally used to.

I think we’ve had a decades-long trend toward ever greater financial oversight and control, and central bank digital currencies kind of represent the end scenario for that. So I’m generally not positive about CBDCs

The popular macro guru says that while she understands why governments are interested in CBDCs, she focuses on their counterweights such as Bitcoin (BTC).

I can see why in some cases they are interested in using them. And what I prefer to focus on is building some of these open source alternatives properly.

In many cases, the CBDC counter is things like Bitcoin that say, okay, it doesn’t matter what a country’s borders are, it doesn’t matter that no one can just confiscate your Bitcoin if you hold the keys.

According to Alden, the choice in the future will be between centralized and decentralized forms of money.

Those are the two sides of the coin that I think people have in their future. Either they will increasingly enter centrally administered registers.

Or increasingly in distributed systems. And a far cry from some of the banking we’ve become accustomed to over the past 100 years.

I

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