CBDC's were just meant to "officially" digitalized currency that hasn't had any new innovations since conception. I use innovation loosely, of course, because CBDC's are to the detriment of the consumer. Most banking is done online anyways so it's not as if the government needs to digitalize the currency in the first place. They already have the central and private banks within grip.
I speculate the reason is merely to allow even greater control over money supply than they already have -- essentially being able to generate tokens or deduct them from a person's holdings without having to jump through any hoops.
Topic: CBDCs are like a digital prison but Bitcoin is the key - page 2. (Read 260 times)
We all want the freedom that we have today where cash has privacy and the government or anyone can't take our BTC unless at gunpoint.
But just to play devil's advocate. There is actually a good side if we use CBDC. Just think about it. Most crimes if not a crime of passion are often because of money. Financial reason. As they said it's the root of all evil.
If you look at the whole picture, we might actually see real peace when everyone is on CBDC. And then anyone who commits a crime including corrupt government officials will be traced. Anyone who received a huge amount of money will be noticed and identified and will be subject to investigation. With that said, a person who plans to commit a crime will think twice about doing it. Innit good?
But just to play devil's advocate. There is actually a good side if we use CBDC. Just think about it. Most crimes if not a crime of passion are often because of money. Financial reason. As they said it's the root of all evil.
If you look at the whole picture, we might actually see real peace when everyone is on CBDC. And then anyone who commits a crime including corrupt government officials will be traced. Anyone who received a huge amount of money will be noticed and identified and will be subject to investigation. With that said, a person who plans to commit a crime will think twice about doing it. Innit good?
If control and less privacy was the solution for peace, then crime would probably be next to non-existent already. But alas, crime still exists even in cashless societies.
WORLD PEACE. If Putin does bad, put zero on his balance.
CBDC =/= 1 world currency 
Personally, I do not see a fundamental difference between paper money and central bank digital currencies (CBDCs)
There is fundamental difference.Pros:
- Comfort
Cons:
- Susceptible to censorship.
- Not private.
- Not peer-to-peer.
I don't disagree with OP here! There's no fundamental difference between fiat and CBDC. Both are issued by a central authority but just the operating environment is different. Also with CBDC, citizens will loose their remaining financial anonymity. Cash is still somewhat anonymous but with CBDC that last bit of freedom will be gone forever.
So there's no need for cheering about CBDC. My country has just launched CBDC as a pilot. But this is something I really want their failure.
So there's no need for cheering about CBDC. My country has just launched CBDC as a pilot. But this is something I really want their failure.
We all want the freedom that we have today where cash has privacy and the government or anyone can't take our BTC unless at gunpoint.
But just to play devil's advocate. There is actually a good side if we use CBDC. Just think about it. Most crimes if not a crime of passion are often because of money. Financial reason. As they said it's the root of all evil.
If you look at the whole picture, we might actually see real peace when everyone is on CBDC. And then anyone who commits a crime including corrupt government officials will be traced. Anyone who received a huge amount of money will be noticed and identified and will be subject to investigation. With that said, a person who plans to commit a crime will think twice about doing it. Innit good?
WORLD PEACE. If Putin does bad, put zero on his balance.
But just to play devil's advocate. There is actually a good side if we use CBDC. Just think about it. Most crimes if not a crime of passion are often because of money. Financial reason. As they said it's the root of all evil.
If you look at the whole picture, we might actually see real peace when everyone is on CBDC. And then anyone who commits a crime including corrupt government officials will be traced. Anyone who received a huge amount of money will be noticed and identified and will be subject to investigation. With that said, a person who plans to commit a crime will think twice about doing it. Innit good?
WORLD PEACE. If Putin does bad, put zero on his balance.
Personally, I do not see a fundamental difference between paper money and central bank digital currencies (CBDCs), and therefore if paper money fails, any digital system built on it will fail.
Also, electronic money will not succeed in replacing cash by 100%, and Bitcoin is not considered the real threat at the present time due to the presence of higher risks such as interest rates and inflation.
Also, electronic money will not succeed in replacing cash by 100%, and Bitcoin is not considered the real threat at the present time due to the presence of higher risks such as interest rates and inflation.
Central Bank Digital Currencies (CBDCs) are the methods in which the government and financial institutions use to continue their control over it's citizens when the Fiat currency seems to be failing. These digital tokens help for monopoly as these bodies become the center of the system since every transaction that is being conducted is monitored, hence leaving the individual open to being a victim of EO6102 attack.
Bitcoin, according to financial operators, is regarded as a potential, existential threat which has come to upset the "equilibrium" on which the government lies. BTC receives much whiplash not just because of its volatility and unstability in price, which is made worse by the bear season by the way, but simply because there would be no means to control it since it operates on an open source peer-2-peer network which has no central authority.
While CBDCs tend to take away your privacy, Bitcoin protects privacy and finance and helps for accessibility to financial resources. Its aim is not just to make one rich or get more money, rather they present a new approach to freedom in many places where traditional banking holds full court.
https://bitcoinist.com/the-case-against-cbdcs-in-a-capitalist-society/
https://www.matter.ngo/bitcoin-freedom/
Bitcoin, according to financial operators, is regarded as a potential, existential threat which has come to upset the "equilibrium" on which the government lies. BTC receives much whiplash not just because of its volatility and unstability in price, which is made worse by the bear season by the way, but simply because there would be no means to control it since it operates on an open source peer-2-peer network which has no central authority.
While CBDCs tend to take away your privacy, Bitcoin protects privacy and finance and helps for accessibility to financial resources. Its aim is not just to make one rich or get more money, rather they present a new approach to freedom in many places where traditional banking holds full court.
https://bitcoinist.com/the-case-against-cbdcs-in-a-capitalist-society/
https://www.matter.ngo/bitcoin-freedom/
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