“You have a monetary system that is 10,000 times bigger than Bitcoin today, and that relies on theft,” Booth said. “This is going to be hard to digest… because you're measuring a system problem from the system creating the problem, and all the politics on top, no matter what side, is just theater on top of a system problem.”
“Globally, there's about 400 trillion dollars of debt,” he said. “If you try to pay back one trillion dollars at one dollar a second, it would take you approximately 32,000 years. So the debt is already insolvent, but we pretend it's solvent because we allow governments to manipulate money to pay back the debt with cheaper dollars tomorrow, and that manipulation of money carries a huge problem throughout society, because it's just manipulation.”Booth said today’s Bitcoin vs.
He said this is exactly what’s happening in the financial system right now. “There is an open monetary network that any person on the planet can move over to, and essentially measure differently, and not have to pay for $400 trillion of debt that's already insolvent, and not having their wages decline in real terms every year,” he said. “More and more people are moving over to it, and once they measure the world from that new system, they see truth, hope, abundance.
He believes that despite resistance from people, banks and politicians, central banks could successfully implement CBDCs by giving the digital currency to the public. “Will people fall for it? Yes,” he said.”Because you’ll give people programmable money and you’ll say, ‘here’s a hundred dollars out of UBI,’ and you’ll lock them into that system. And a lot of people will think that they’re safe when they’ve just given away every individual right and freedom.