Topic: A person that is against the creation of CBDC. (Read 638 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.

You really trust a politician? Lol. Never should you trust a politician, that's the best way to avoid disappointment. If you don't expect a lot from them and they eventually get to the office and do nothing, trust me you wouldn't emotionally get attached to their ways of governing the country.

Aside from aggressive speech about Trump, he is been feared, I love that about him but the fact that he always act as if he is the perfect person to rule America makes not to believe him, he speak like he is a pro, he act like is perfect man but he is full of scandals and bad past in his profile but I guess citizens don't look at that during election, they do what they are told and then cry later when forgotten of their promises.

CBDC is a centralized system of digitalizing dollar and I think the government is only trying to used that to make people to go digital so they can be able to watch people how and where they take money to. If you are ask me to choose between CBDC and fiat, I will chose fiat because I can withdraw money from a bank and do what I wish without anyone knowing where my money went but doing it online kills privacy. It's like the way we are moving into more civilization, privacy is dying everyday and that suck.

Many people don't like that guy but that man knows the system and he openly criticize it. I know he has his agenda for his aggressive speech but at least he is telling the truth.

CBDC can be a real threat to democracy and the people's financial freedom. If you need to think a few times before spending your money then you are not the owner of the money or we can say your money doesn't have absolute power in your life. CBDC can be highly politicized in many countries which will encourage dictatorship around the world. Let's see what lies ahead of Trump's future. Can he be the president for another term or he will go to jail!

Governments are naturally interested in controlling monetary systems. CBDCs offer them a degree of control over money supply and transactions that's not possible with decentralized cryptocurrencies like Bitcoin. However, it's important to acknowledge that this control can come at the cost of individual financial freedom and privacy. While some see CBDCs as a response to Bitcoin's success, others view them as a natural progression of digitizing fiat currencies. Regardless of the motivation, the reality is that CBDCs offer several potential advantages over traditional fiat, such as faster and cheaper transactions, greater financial inclusion, and improved crime prevention.

It's true that CBDC adoption has been slow so far. This can be attributed to various factors, such as lack of awareness, regulatory hurdles, and competition from existing payment systems. However, it's still early days for CBDCs, and their adoption might increase as these challenges are addressed and the technology matures.

You still don't address the social credit score/carbon credits questions... gotcha!

The creation of Central Bank Digital Currency CBDC is a very good project across the countries if only the countries adopt bitcoin as their legal tender currency so that the CBDC can be a supporting digital currency to bitcoin and the transaction process will be very simple for citizens. Bitcoiners will not suffer to stay on the queue to sell or buy bitcoin but they can just convert the coins to Local Currency instant.

That is one of the sweetest part of CBDC. And I believe he will adopt CBDC to support bitcoin.

You are trying to say that the only way to eliminate physical money (ie. cash) is to create CBDC and if they don't create it they can't eliminate cash. I disagree and say there is no difference between digital banking and CBDC in that sense. If they want to eliminate cash they will do it with or without CBDC.

President Trump has once been in total control of power, so I can take what he has to say seriously because there are things he knows that we do not know.

Only the people who have low understanding of what bitcoins are will choose the digital dollar ahead of it.


There are people who do not care about the control the government has on them so CBDC 's can still be produced for these people to make use of but personally I do not care about them.


There is a need for the government to create CBDC's and whether they would use this new CBDC 's to take control and control their citizen will not yet happen right now until CBDC's gain full recognition.

Even though there is a lot of horrendous news made by Donald Trump, he is a president who I like, he is firm and has strong thoughts, btw Since the beginning of the discourse on the creation of a CBDC, I have asked aloud in my heart what the purpose of the CBDC was actually created, right? On the one hand, they are afraid of breaking the rules set by the government, but on the other hand, they are afraid of using CBDC because of the loss of privacy.
In the future, hopefully there will be more and more presidents who have strong thoughts like Donald Trump, the world needs them to stop CBDC.

Canada still has physical cash (CAD). It's not mandatory to have a bank account to use fiat money. It's optional. With CBDC you will be forced to install a mobile app from the central bank (FED, ECB etc.)

Do they have social credit score and carbon credits? How can you implement those with physical cash? You evaded this question for some strange reason.

Have you forgotten a couple of years ago Canadian authorities shut down people's bank accounts and sized all their money just because they refused to be jabbed by the unknown vaccines? Canada doesn't have any CBDC yet but they did the thing you explained very easily.

But all presidents do at least something good for some voters in their term. The damage they cause is the reason why there needs to be an alternative.
Lest we forget, Trump was the only POTUS (as far as I know) who was stripped of all his powers by the chairman of joint chief of staff before his term ended. Since as general Mark Alexander Milley said and I quote he feared Trump would pull a "Reichstag moment". That is when Hitler cemented absolute power for himself by burning down the parliamentary building amid street terror. Note that this was said months before Trump incited violence that led to people raiding the Capitol building!

If someone had told you 5 years ago about mandatory lockdowns/masks/vaccines, chances are you would have dismissed it as "too authoritarian, this can only happen in China".

Give it some time and we'll see (I sincerely hope you're right and I'm wrong)...

Trump is a demented candidate that want power by all means, he knew the hate towards the CBDC idea and he is using that stylishly to campaign for his own selfish interest. What more will politicians use to fool the people. It's possible that he might even get there and his sense of reasoning towards CBDC will change or even modernized it to suit their own interests and not the people again.

I have read many places Trump has been anti Bitcoin when he was the President of United States for good four years and Biden use that to campaign for his election and he won but today, has he fulfilled the promise he maid for people? No! It was under his watch Gery Gensler played everyone with Bitcoin ETF and no special investigations was done on SEC for such rug manipulation. You know what? Believe politicians at your own peril.

This problem is there in pretty much all democracies. You have the right to vote, but you don't really have any proper choices to actually vote well.
And then yes, the equation comes down to two elderly men and very few others that actually don't stand a chance because their campaigns are underfunded and people don't get to hear about them.
Plus, a president has pretty limited powers actually...

However, you've missed my point, so I'll explain it better: did Trump done anything good for the (specific) voters? did Biden do? If so, there's some ground for a second chance for them. No? Then give a serious look to the other competitors.

From the idea of a decentralized cryptocurrency to having ETFs and companies buying and holding hundreds of thousands of Bitcoins, I wonder what Satoshi thinks about all of this if he is still alive. The idea was good (and still is), but most people today use Bitcoin as an investment, not as a currency.

---

I think that such a model (if we are only talking about CBDC) will not be so easily implemented in Western countries because people still have some influence on politicians and their decisions, although there are always indirect ways to achieve goals, especially if you have the tools of the system and unlimited resources with which you finance everything.

Chinese models of controlling the masses have gone much further than finance, and include massive electronic surveillance of every individual - so you can get penalty points for practically everything you do wrong according to the CP - and those penalty points can prevent you from using public transport or anything other that the government controls.

I don't even know which is worst between CBDC and altcoins, we cannot give it a take that everyone will admit the fact that digital fiat were as acceptable as the way the government perceived them to be, the people truly needs bitcoin and not any other forms of digital currency, this is the way we should see how cryptocurrency had come in place to give us alternative to financial currencies by offering us bitcoin, so it won't be a surprise seing some people accepting it while some going against it, but CBDC is never a better idea over crypto.

Trump can be against CBDCs, but he isn't pro-Bitcoin, and he is very pro-USD. What he's saying about a CBDC is something that should appeal to his supporters and seems to align with the value of freedom (viewed as a limitation of the authorities overseeing things), which is something Republicans heavily rely on. But the USD is also fully under the control of authorities, so being against CBDC which being so pro-fiat is a manipulative and incoherent position. I'm happy to see that many people around here can look beyond what he's saying and focus on the reason he's saying that.

One thing I know is that a politician would say anything just to buy your heart and get your vote, the moment he occupies the office, he'd turn a blind eye and pretend he never said anything. Fiat is a tool for the government to exert control over the people, but CBDC comes with an increased surveillance of your financial activities and a threat to privacy. The government knows this and thankfully some of us know this too. Spilling out this secret does not mean Donald Trump has our best interest.

Trump cannot stop CBDC, nor go against FED's wishes, unless he wants to have JFK's fate.

CBDC will come around 2026-2027 with Taiwan's invasion by China.

The collective West will impose sanctions on Made in China products (most solar panels are made there), Weimar-style hyperinflation will kick in and will destroy all fiat currencies (USD, EUR, GBP, CHF etc.)

That will be the perfect opportunity to introduce CBDC as a "New Deal" for the economy, along with erasing public/private debts (which also means all public/private property will be confiscated as a compensation).

Feel free to bookmark/screenshot this post for future reference.

Not true.

The current fiat money doesn't have: 1) social credit score (see China/e-CNY), 2) carbon credits (which will limit your red meat/gasoline consumption due to climate change).

It could get even worse than that... with Digital ID (soon to be launced in EU) and the next pandemic (Disease X) they could also restrict your movement if you don't take the mRNA vaccines and even fine you in your CBDC wallet automatically.

No offense, but I'm flabbergasted when I see Bitcoiners (let alone old timers!) being totally oblivious regarding CBDC dangers.

I consider Bitcoiners highly educated in economics/freedom/politics, but maybe I'm wrong...

As the commander in chief, the POTUS does a lot more than just "represent a party"!
Besides, other parts of the US government are no better like the US congress. There are fossils in there are even worse than Biden and Trump combined. Some of them can no longer stand up or speak.
Here is one example: https://www.wsj.com/video/watch-mitch-mcconnell-freezes-while-taking-questions-from-media/7A2694C9-CFE0-4B43-907B-55CBD7DC4FE9

Everything he said could on lies on his political ambition.
It is always easier to say than to do so, all that he has said could be a strategy to secure his mandates.
Literarily that could all be campaign speeches to win the publics minds basically for his political interests.

Doesn't seem to me like modernization. As said by pooya, we already have banking apps, which are designed to be used by the dumbest. A central bank's job, at least as far as I understand neo-liberalism, is to control the extent to which banks can manipulate interest rates. The central bank of the EU is supposed to regulate and ensure the integrity of the banks, rather than introduce an app that circumvents their authority. It is an abrupt departure from their usual responsibilities.

And? It's not them who really make the decisions, it's the representatives of each political party. To me, the presidents are rather just an image needed to present the parties in the media.

I'd say the real question voters should ask themselves is why should their choices be between Biden and Trump anyway? Two elderly men who don't know what they're doing half the time. Can't they really come up with anybody better in a country with 330+ million?!!!

The reason is simple; people are too "lulled" to do anything, which is why nothing changes in systems like what we see in America. Otherwise if they wanted to "make America great again" for real, they would have changed the corrupt system instead of trying to install this old man or that old man into office every 4 year into the same broken system.

These politicians are clowns. There are two categories of clowns: Half of them works in circus and another half works in political parties. And people are so naive that it's stupidly unbelievable. If Trump is such a Patriot guy and cares about American citizens, then why was he avoiding taxes? I mean, he wasn't paying taxes, managed to get rid of them and he is proud that he did that and says that this fact means that he is smart. This action of his means that he wasn't paying the money that was meant to be used for the government and for the people, he was stealing money from the people and was humiliating the people who were honest workers and were paying taxes. And now there are some people who believe that he is against the total control of money, how can anyone believe what he says?

I think that Chinese model will soon be implemented in so called democratic western countries because it's the perfect model to control people for a very long period of time.

It's meaningless to say that, people will believe, no matter what.

Overall, aim is to have cashless society where absolutely every person's money will be controlled. It's not a conspiracy, take a very small loan and don't pay on time, your bank accounts will get frozen but you'll be able to keep cash on your hand and buy something in the supermarket but once there will be no cash left and cryptos will be under complete control, then everyone will be in trouble.

Trump definitely has a good point, eventho the government could also take our Fiat money, but there will still be due and transparent process when government trying to take fiat money, but with CBDC saved on custodial wallet by the government, they can just take CBDC money without even need to disclose the reasons.

And IMHO people don't really need government CBDC, but government might think they need it, it's easier to be monitored and controlled compared to even centralized non-governmental cryptocurrency.

         -   You are right in saying this, mate; if it is not used correctly, it will not have good results and effects on people, including those like us who are here in the field of this industry, to be honest. Because it will still fall through manipulation and so on.

But if the motive and intention are good, the result will be really good. It's just that in the reality of what's happening, it's not really like that, so like you, I can't say that we need the CBDC because I don't see anything good that it has in the world of the crypto space.

possible control of the government on your fund? Is their anything like the possibility or the certainty of the government control on your fund. We should have known that most policies of the government had always centered on how they can regulate its citizens and the CBDC is one of those policies that is aimed also at controlling the independence people have with a decentralized system as bitcoin.

If these statement is not coming from an hypocritical perspective then its a good one to know that a leader at his level thinks positive on the privacy of her citizens and is kicking against CBDC.

I think the same, since you can be saying that now, and then come to power, contradict yourself and launch the CBDC, as happens with certain promises of politicians.

In any case, and without liking the character too much, I prefer one who says at least a priori that he is not going to launch CBDCs than another who is already working on implementing them. I don't remember any renowned politician in Europe having such a clear message against them, and I would like to see one.

I still think that CBDCs, in whatever design, is a matter of when and not if. It might not be implemented in the next decade or two, but the world is surely shifting to the digital version of doing things. Everything is slowly digitalized. I don't think money will be left behind forever.

While I agree with what former president Donald Trump said, if I were working at the other side of the fence, I would strongly push for it. If I were a law enforcer, for example, confiscation and seizure of money involved in criminal transactions would be made a lot easier for me with a CBDC.

Anyway, Trump's words could be taken with a grain of salt.

This another strategy for office attainment, trump has just discovered that most of the citizens are not really aware of the control they (government) have over their finances or life in general. So he just have to pose the CBDCs as the major threat that will take away the freedom of people whereas him and his colleagues are the real threat they (citizens) have. As soon as he gets to the office he will surely be the sponsor to central control of citizens to satisfy his selfish aim.

Even right now we are probably in the control system of the government and at least Bitcoin and it's decentralized system is the remedy for us. Some times I use to tell myself that Satoshi Nakamoto was one of the people who learnt that the government is in control of citizens lives that's why he decide to fight them anonymously with Bitcoin as decentralized currency.


You summarized my point here. I don't have enough smerit that would have been my way of showing how I love the comment.

Peace°

This is Trump's opposing view , but in the opposite direction there is still support for CBDC.

I know things around it have different faces, but that's up to each of us to choose. And I think that even if Trump or Biden continues in office, they will still have to be supporters of the crypto field, or in another way, just taking advantage for personal purposes before the election.

Is CBDC really important and useful for the current economy? Feel for yourself that they talk a lot about technology to solve economic problems but the problem is too small to exaggerate everything. I have also seen the topic of CBDC being discussed with many countries doing research and then the testing process being not very effective. Anyway, that's one of the new proposals, instead of just talking about its benefits, let's look at its challenges as well.

i believe that's the take of most crypto users. as we are not really into using CBDCs because we know that it is indeed centralised. so why use a centralised currency if you have better options, right?
but do take note that with the introduction of CBDCs, will give a better approach to the crypto market. it may possibly lessen the hesitation of most noncrypto users towards this market because they are seeing that this digital currency is really going mainstream.

Trump is a learned person even though, his always loud and sometimes act without considering what are the people’s perception or perspective to certain policies he hopes to implement but, being within the inner circle of the government, I suppose he knows better what could be about the CBDC creation so, I wouldn’t say.
CBDC came through as some means to combat cryptocurrency by using some crypto technology to redesign the functionality of fiat. Still, it remains centralized, I haven’t have the need to use it and just might not so, whatever the policy on it might be, I don’t care so much. I use fiat and cryptos just in a way that am at peace every time.

This really sums it up. Politicians lie for living and do that even more when they advertise themselves for the votes.
Trump has lied about things more important, so his^{since probably somebody else wrote that for him, is it really his?} statement is worthless.
But I too don't count as a voter. He did good things, he did bad things, the voters should take into account what is important for them and whether it was done in the previous mandate or not, not the lies from campaign.

When the trend of CBDCs was new, I was somewhat scared, but having watched the CBDC of many countries fail, it doesn't bother me anymore and I don't think that CBDCs are in battle with stable coins or crypto at large. But the case of America is different. I am trying to figure how the CBDC of America will survive if it doesn't fight against all the stable coins pegged to US dollar. I don't know if anyone is understanding what I meant.
Can American CBDC co-exist with stable coins? I don't think this marriage will be successful. It will only be feasible if the stable coins remain 100% decentralized. All the centralized stable coins will have issues with American CBDC unless a total freedom of choice is ensured. And if this happens, everyone will choose stable coins over CBDC

---

As for Trump's opinion of freedom, I choose to believe his statement only after US presidential elections.

Don't take what politicians say in their advertising campaigns too seriously. They'll tell you anything you like because they know you are going to forget it the day they entered office
Specially crap a crazy old man like Trump is saying because he is too desperate to get back into the office they kicked them out of...

Oh yeah? Don't American banks already have full control over American people's funds? They do. Didn't Trump know this? He did.

Why stop there when we talk about privacy? Lets discuss NSA, aka the privacy invading military organization with billions of dollars of budget created with one purpose: to invade people's privacy every second of every day.
If he were truly worried about privacy of the people, he would start there

The funny thing is that even if he wins the elections, he still wouldn't have a say in whether or not US would create a CBDC in the future. The world is moving in that direction and US will make the same move sooner or later.

As for my opinion, I don't really see any difference between CBDC and what we already have with digital banking! It is exactly the same as far as the end user is concerned (centralized with full surveillance and user having 0 control).
Although I'd like to separate "elimination of cash" with "creation of CBDC" since they are different topics.

That's mere propaganda because he's trying to win the people over in my opinion. If he truly cared for the people's freedom, then he should give Bitcoin, as a technology, a chance. But he already said that it's a scam. We can't trust politicians to put their thinking-caps on and listen.

Plus he probably knows there's no actual need for a CBDC because the people behind the legacy banking system already control all the financial rails and all fiat is already in their centralized ledgers which they can withold from you anytime they want.

If that system is a sickness, then Bitcoin is the cure.

Their traditional system is working as intended but this is probably the Financial Institution's way of coping with the fact that money is moving away from banks and their businesses. There's also the demand to use crypto for cross-border transfers/payments. They want to entice those people to come back using CBDC and regain control of the flow of money.

I prefer to just call him former President to make it clearer. But with the statement regarding the opposition to CBDC I agree but will it stop the government? Of course not because Trump's vote now no longer has the same influence as when he was still President, except for his followers and party if there is one. The positive thing is that Trump shows his true identity because when he was still US president, we absolutely guarantee that he would not make any statements against CBDC in front of the media.

What Trump said at least made people aware of the dangers of CBDC, but paper money has also been around for a long time which has the same threat where its value can be lost at any time. Whether or not a CBDC is needed is a demand for the government if it wants to balance digital transactions while still being in full control.

Trump can bribe or working together with the government because he has a privilege, it's actually threat both of wealthy person or big business, if they don't agree with this, it could be a chaos and they will move to tax haven country.

How you can be so sure if you can use cash when CBDC exist? even you read it somewhere, remember they're centralized and they can change any rule or law at anytime.

The whole idea about CBDC shouldn’t be shocking to you because we all know the government intention in situations like this. the government doesn’t want anything it can’t control and as such they simply just introduced there own CBDC. At first they thought the whole idea behind bitcoin been a decentralized currency wasn’t they actually thought will explode like this and now they couldn’t control it and they thought inventing there own is going to be the solution. I would say CBDC has actually not gain any adoption just because the government missed the basis of why bitcoin got such adoption. People did not Just jump on bitcoin because of digital ability but because it is decentralized and most importantly and hedge against inflation.

CBDC is just a digital fiat and nothing more, when the pegged fiat currency of it gets into economic trouble like lose value due to inflation, same thing will happen to that country’s CBDC.

it's natural for donald trump to say that because he doesn't want the federal government to be able to track where his money goes and how he uses it, so he's not talking about people's freedom to use money, but rather wanting to cover up the flow of money in his business.

but apart from that, actually it is not a bad idea for the government to launch a cbdc to make it easier for people to carry out transactions, because it is not much different from money in general, only the form is digital. if someone is worried about their privacy, they can refuse to use it and use fiat money instead, it's very simple.

so the issue regarding the formation of cbdc does not need to be exaggerated because sooner or later we are all heading there and it is difficult for us to reject this, unless we have the power to reject it, but i am pessimistic about that.

Trump isn’t stupid, he knows that most regular people have concerns about the possible implementation of a CBDC. I don’t vote so I have no bias but he is saying things that he thinks will give him an edge in the run up to the next election. Just remember, very few politicians & people in power care about us. They are mostly all in it for selfish reasons.

The whole idea of creating CBDC isn't sitting well with me, since their is bitcoin and other cryptocurrencies, why would the government bring in digital currency that they would control, most people enjoy bitcoin because of the privacy it allows them. Today  in my country Nigeria, there is e-naira one of the digital currencies launched by the government via the CBN, trust me nobody has given them a second look as citizens are not interested in getting the e-naira. So in answering your question, I don't think there should be need to create CBDC when we already have bitcoin and other cryptocurrency to solve our problems.

Government need to show to public if they're really working and adapt with the current society, CBDC is nothing different with mobile banking, PayPal or digital fiat. So creating CBDC is no need at all, why you need to create a new thing when you already have it?

I believe CBDC will use private blockchain, so you can't track it except the banks and government. It can be used to fight against corruption if they use public blockchain.

Sounds like he doesn't understand how digital money works, but someone has told him that we should be scared of asset digitalization.

In short: They can freeze your accounts and assets already. They can confiscate anything you own. They have been able to do that for ages now. No matter how ignorant he is, he definitely must know this and is misleading people.

CBDCs are planned for cheaper and easier money tracking to prevent corruption and money laundering more efficiently. And in best case of scenario, it would be more energy sufficient, removing needs for ton on monetary infrastructure that's needed today. Also CBDCs could have confidential transactions.

Sure, in worst case scenario, line in china, that can be used for surveillance, but they can also build it for Zero knowledge L1 with zero knowledge contracts. And by that they could have confidential transactions, and depending on the token issuer, different levels of privacy and rights. With money, it would be build to comply with regulatory needs, and needs of the citizens in mind. And no surprisingly, at least in EU they have plans for this. Also this same platform could be used for digital identity, that would make identity thefts way harder.

But he doesn't need to understand this, he doesn't even need to make sense. He is talking to his followers and fear is sells well.

That man will say anything to get his hands on the Oval Office again, and everyone who thinks that today they have financial freedom because there is no central bank digital currency is living in some fantasy world of their own. It is true that CBDC threatens privacy even more and that our money can easily be frozen, but all those who today have money in banks or perhaps keep it in so-called stablecoins are exposed to the risk of being prevented from disposing of their funds at any time.

The creation of digital currencies by central banks is only a logical move to modernize finance, given that everything is being digitized anyway. However, you should know that cash will not disappear overnight and that the transition period will probably last several tens of years, except in countries like China where people are not asked for anything anyway and have to agree to everything that is asked of them.

Who is in control of the digital fiat that are not CBDCs? Are they not the government. Only what they are not in control of are the bank notes which is the paper fiat. But bank notes are not perfect the way bitcoin  is.

Digital fiat in bank? Government is in control.
CBDCs? Yes government is in the control but in a way that is more direct or depending on how it is implemented.
But both? Government is in contol.

The only reason that Trump is right is because there is not need for CBDCs, but not because of government not to have control. That is deceitful.

Statement of President Donald Trump during an interview:





Source: https://thehill.com/business/4416139-trump-vows-to-block-creation-of-digital-dollar/

I think President Trump is correct about the possible control of the government on your funds as Americans and we all know that. People anywhere in the world wants privacy and full control of their funds that is why they invested on decentralized assets rather than having something like the CBDC.

But do you think this is a smart move of him or you still prefer the use of digital dollar?
Do you agree with him to not allow the creation of CBDC or you just don't care about this?
I know that it is non of my business but I just want to know, is there really a need to create CBDC?

I want to hear your thoughts on this as it might happen to any country in the world anytime.