Topic: A person that is against the creation of CBDC. (Read 565 times)

Sleepy Joe fan?

I'm no fan of Trump or his incessant USD love, but you need to understand that the current fiat system doesn't have:

1) carbon credits
2) social credit score

Care to do some research about these things?

I wonder why nobody cares to address Davos' agenda. Am I talking to ChatGPT bots spamming the board for a few sats or what?

Isn't it obvious he's just saying the right things here? He's just trying to appeal to a certain set of people. Saying all the right things so he can get votes.
This is so obvious because the traditional system is exactly the same things with CBDC. What does he mean when he condemns this and approves the other? Can't the government seize our money in the bank? What exactly is he talking about?
I'd like to know why CBDC is worse than any other form of centralized form of financial transactions.
If anything he should be for the CBDC and not against it because it might be better than the current traditional system.
I wonder why people don't see right through him.

The world's going digital, and money's no exception. CBDCs are just one way governments are thinking of modernizing things. Now, some folks might clutch their physical cash like a lucky charm, while others are all about the digital life. Both sides have valid points, and painting everyone with the same brush just won't do. Sure, privacy is a big deal, and the idea of Big Brother tracking every penny you spend is enough to make anyone sweat. But hey, there might be ways to build these CBDCs with privacy in mind, like using fancy tech to keep your info safe. Plus, regulations can be our watchdogs, making sure things don't get out of control.

In any case, the creation of a CBDC makes sense and will bring many benefits for both the state and the people. After all, CBDC is an improved form of current government banking. Compared to the current cashless payment system, CBDCs will be much faster and more efficient. But both of them are under the complete control of banks and governments. But there is still a benefit in terms of improved functionality. Therefore, Trump's statement about the need to boycott CBDC sounds very stupid and is purely populist.

This is a populist statement. CBDC and digital dollar are the same. If the government wants, they can seize your whole funds from your banking account at any time, as it has already happened in some countries like mine in the past, without the need for any CBDC in the process.

The creation of CBDCs is meaningless. It won't make any difference at all for us, unless the government enforces its usage and forbids the adoption of decentralized currencies such as Bitcoin.

For governments, yes, because they want the monopoly of cryptocurrencies for themselves. It's interesting for them to impose the usage of a centralized cryptocurrency they control for the masses, while discouraging or forbidding the usage of Bitcoin currency, for an example. But for us, average crypto enthusiasts, living on our own, independent from parties, ideological groups, land lords and politics, it's not necessary the existence of CBDCs. I would avoid it, like I avoid fiat.

Everything is on the details, Trump said he will not allow the creation of a CBDC, but he never said that if it was created before his mandate, assuming he is allowed to participate and wins, he will eliminate it once created, however the fact that he made this point proves to me that people are slowly waking up to all the scams their own governments are running, and that even if they have tolerated the fiat system for decades, they will not tolerate to give to governments full control over their money and this is a good thing.

In truth, those of us who believe in the digital currency of the crypto space, or bitcoin, do not really believe in the CBDC because it remains government-backed, so they can control what they want to control. Unlike with bitcoin or cryptocurrency, they can never really do that.

Even in these times, more and more people are choosing the decentralized-based system because they still prefer to have control over their assets, and that's what we as investors really want, right?

Honestly, I don't feel we need CBDC.

We already have SEPA instant in EU... I can easily transfer fiat money between different countries/banks with zero fees.

Do people understand that CBDC will introduce new variables (carbon credits, social credit score)?

Are you going to justify that due to climate change perhaps...?

CBDC is a product that was born as a result of a country's central bank's response to the development of digital technology. The government does not want to be left behind when society has shifted much of its attention to industry, carrying out transactions and taking advantage of all its innovations. Of course Trump has his own point of view - but governments and central banks also have reasons why a CBDC is needed.

Payment trends have changed over time and governments can clearly see this as something that needs to be improved considering that their centralized payment systems have lost a lot of traction. The lack of transparency of an antiquated financial system as well as expanding innovation are other goals the government is considering - so Trump may not really know what the purpose of a CBDC is.

People in 2024 still confusing campaign promises with actual decisions.
Compare his track record in the 1st presidency than you know what its worth.

If Trump opposes the introduction of digital CBDCs in the US, then he is an absolutely stupid person who understands little about the world of finance, or is simply voicing slogans that will appeal to some Americans in his election campaign.

CBDCs are simply an improved form of government cashless payments. This is the same government control over citizens' money that existed before, but CBDC is many times more efficient than current banking transactions.

If Trump really is against CBDC when, God forbid, he becomes president again, then the United States will only lose from this and will be inferior to many states that are introducing their CBDC into the national banking system.

1.Trump is a well known liar. I don't believe that he will keep all his promises, if he becomes president of the USA for the second time.
2.The US president doesn't have control over the Federal Reserve. The US Congress and Senate have control over the Federal Reserve and I'm not sure that the Republicans will get a majority in both the Congress and the Senate. Many Republicans don't share the same views as Donald Trump.
There's nothing we can do in order to stop the creation of CBDCs. The only thing we can do is to stick with Bitcoin and some of the altcoins.

Donald Trump is financially successful irrespective of his policies and ideas so he knows how money works because he belongs to the billionaire club. CBDC from the US government is more dangerous than other CBDCs because already they are censoring everything via the banking system and if there is a chance to take away the middlemen banks and all the control in the hands of FEDs then as he said the situation will be chaos and whoever holds the authority will pretend like a God and will truly make changes that we never expected.

too late for Trump the USDT and the rest of the stablecoin have already been created. CBDC was created a long time ago already which is these stablecoins and people didn't even realize it. nicely done.

but they know the world already is moving in this direction if the US does not have the stablecoin, they will be left behind in this development.
if you look around already over the internet, USDT is widely adopted so why would their government have to create another CBDC?

I think you are letting the tyrant Trump infest you now just like it does to the weak Yankees, he is a scam and only using what some American people want to brainwash them. What a naivety!

Trump is a businessman and politician, they (him and his colleagues) do not just come to you and say this or that without a careful thought and plan. He knew what could cause division in the US and handed him more votes due to that, so he spits such out often. So I am not surprised about this, he will still say more over time as he moves from immigration, to finance and others so that he will be able to convince many who align with this view to vote for him. Trump has never been a democrat, he is only being forced to be accountable by the law, and I must tell you that he could care less about CBDC of a thing but just using people's heads, the guy is just smart, and if you fall for it, good luck to you my friend.

Mind you, the CDBD is beyond the US president regardless of what he thinks of it, if the parliament wants it, so be it, and if not, so be it still. The current US government is not also foolish not to have pushed it, they are careful to be sure of how it will affect the US businesses in payments and related industries. Think about it, Trump said he doesn't want to control people's money, but is fiat not centralised? Is the US government not overseeing it? What is the difference? That guy called Trump is so cunning.

To add to this, if he really wants to do something for the people, then he should focus on trying to implement a policy that will reduce the overprinting of more dollars out of nowhere, which I believe is part of the things that are killing the value of their currency.
 
And the only time the people who are holding the local currency are fully in control of the currency is when they have the currency in their own hands in their house and they can watch over it. Only then can they fully decide what they want to do with it and how to spend it, but still saving a currency in your house without making interest on it in an economy where its currency is losing value is also not a healthy idea.

Claiming that CBDCs give the government full control over people's funds but attacking decentralised cryptocurrencies like Bitcoin is hypocrisy. Donald Trump has never been a supporter of Bitcoin, so I see this comment as political to gain votes from mainly the youth. Trump will never promote decentralised platforms because every government wants to control the people's financial activities rather he would promote platforms like the FedNow Service to discourage people from using decentralised platforms.     

Except Donald Trump states the kind of currency he prefers to CBDCs this news is none of my business. If he is saying that CBDCs are dangerous, what is his alternative? Does he prefer Bitcoin or does he have another decentralised option?

That is the point that people are missing. The USDT that you own, is pegged to USD, which means 1 USDT equals to 1 USD, and we all know that fiat is centralized, so USD is a centralized fiat that the USA government can control, they can print more, they can increase the interest, they can do whatever they want to do with it.

So all in all, we could just assume that, you are already holding something that is centralized and it doesn't feel decentralized. On top of that, all these, are created by companies, tether for example is owned by a company, so all those billions of dollars are sent to some company, that is adding another layer of centralized currency, you are tied to a government and a company all at the same time.

This is all just a fallacy. These politicians are trying to manipulate the minds of the people by telling them that what they know to be white is now red, which is absolutely ridiculous.
 
USDT and other stablecoins and the so-called fiat, which are under the central bank or personal bank, are currently under the control of the government, so CBDC or no CBDC, the government still has control over those citizens money, and they decide and monitor how it's being spent. I see no difference in what they are even trying to do, and I also see no need in what he is trying to protect.
 
Government is government, and he is aspiring to enter the government office, which means he is there to continue what others have done and make minimal changes to things, that's all.

Every influence that people have on politicians is false and imaginary. Some governments prefer to have a high quality of life in their countries while there are some who prefer to have all the money in their pockets and leave the rest of the people poor. Overall, some governments don't analyze that when life becomes good for the rest of the people, it automatically becomes better for you and there is no point of getting all the money for yourself because that disturbs the overall development of the society. When the society is developed, they do things better, they offer better services and so on.

I think that Chinese model will easily be implemented if governments want to implement it. To my mind, Covid was the test of that.

It's probably time to move in some small developing countries where everyone knows each other and bribe works.