I think if the ones that would establish the CBDC’s are the same ones who made the weak currency weak, then you could probably expect the same thing. If the people who are in charge of it are the ones who are trying to find a way to save the currency and made that way, that’s definitely going to have the same fate.
Rolling things out like that, just because it’s a new technology and not understanding how the actual economy works would be the fundamental problem that they need to solve. I just hope that can save it, but I doubt it.
Topic: CBDCs Cannot Save Weak Currencies - page 2. (Read 552 times)
CBDCs are no more than fiat currency scams on steroids. As long as the current fiat system is not viable, then CBDCs are even less viable as they enable the government to engage in even more currency debasement. CBDCs cannot save weak currencies like the Ghanian Cedis, the Zimbabwean Dollar, the Venezuelan bolivar, the Argentine peso, or the Lebanese lira. The eNaira, Africa’s first central bank digital currency (CBDC) is a total failure and did not save the Nigerian fiat currency. Infact, there are a lot of bad things that come with CBDCs and countries should avoid it. What do you think. Do you have a dissenting opinion?
https://financialunderground.com/articles/another-big-cbdc-flop/
The only benefit I can figure out from the rolling out CBDCs by most Central Banks is that it saves them the cost of printing money. Apart from this, it has no economic benefit to the country. The eNaira have not been widely used by Nigerians because citizens don't have confidence in the naira. The are scared that with the rate the naira losses it value, they might end up losing all their funds. https://financialunderground.com/articles/another-big-cbdc-flop/
Regardless of the fall in price of bitcoin, Nigerians are alternatively embracing bitcoin, using it as a hedge against inflation. This is because they believe that bitcoin would recover from this bearish market but they don't believe that the naira would get stronger to recover all its lost worth.
I also believe that most central banks are using CBDCs to discourage its citizens to buy or use bitcoin and others. But this strategy has also failed because the benefits of bitcoin outweighs the lies they keep telling against it.
People usually look to alternative means whenever the available is failing that's why it's called a plan b. Asides from the government trying to at least have a control over its citizens, CBDCs were created to support a failing fiat.
Like the op mentioned, CBDCs were believed to be the key to solving a country's fiat problems, but as it is CBDCs are somehow aiding in financial crime, fraud and illegal activity.
Like the op mentioned, CBDCs were believed to be the key to solving a country's fiat problems, but as it is CBDCs are somehow aiding in financial crime, fraud and illegal activity.
CBDC is just a digital version of fiat. As I understand it, to keep up with the digital age, governments create CBDCs to provide a fiat alternative that offers convenience in use, they don't claim it's the solution to save fiat. CBDCs are fiat, nothing more and nothing less, so the failure of a certain country's CBDC is because their currency has also failed before.
I have not found any evidence that CBDCs are supporting financial crimes, scams and illegal activities. Your claims are baseless, no different than governments are blaming bitcoin.
People usually look to alternative means whenever the available is failing that's why it's called a plan b. Asides from the government trying to at least have a control over its citizens, CBDCs were created to support a failing fiat.
Like the op mentioned, CBDCs were believed to be the key to solving a country's fiat problems, but as it is CBDCs are somehow aiding in financial crime, fraud and illegal activity.
Like the op mentioned, CBDCs were believed to be the key to solving a country's fiat problems, but as it is CBDCs are somehow aiding in financial crime, fraud and illegal activity.
You call fiat is scam? why you're still use fiat to spend food and pay bills right now? 
if it's scam don't use it, except you're a dumb person.
Actually fiat isn't scam, but you shouldn't hold most of your funds in fiat since the value will become worthless in the future. This is why money management and financial is really important to understand why investment is really important.
CBDC is digital fiat that the value is stick with fiat 1:1, there's no way to save inflated currencies through digital since the problem is the currency.
if it's scam don't use it, except you're a dumb person.Actually fiat isn't scam, but you shouldn't hold most of your funds in fiat since the value will become worthless in the future. This is why money management and financial is really important to understand why investment is really important.
CBDC is digital fiat that the value is stick with fiat 1:1, there's no way to save inflated currencies through digital since the problem is the currency.
It isn't a scam, per se. It's a perpetuation of a broken system that forces citizens to rely on the government for purchasing power. There wasn't really a better system pre-crypto, I'm not arguing that. I'm suggesting that a currency that is controlled by an entity which promises its participants that purchasing power will go down every year by inherent function of the system is all but a fraud.
If the average working man, lower income, has no alternative to its government's currency and the predations that come along with fiat, would you fault him for it? They don't have a choice. This is not even beginning to discuss countries that have limited the crypto industry by excessive taxes and regulation.
I suspect CBDC's will plague the financial industry like a malignant tumor, and there isn't a guarantee that it would be a 1:1 value pegged to whatever fiat currency the issuer chooses. It's arbitrary.
Since the normal fiat do not have good value then there is no way CBDC can make much impressive effort and value because this is in the online version of a currency which is replicated digitally.
I have seen make countries' CBDC that are not making any move and it was not becoming that useful to people. Good countries with strong currencies will make good use of CBDC that will serve as an alternative move for people.
I have seen make countries' CBDC that are not making any move and it was not becoming that useful to people. Good countries with strong currencies will make good use of CBDC that will serve as an alternative move for people.
The events of a digital currency with the same counterpart cannot represent a solution to any of the problems faced by the original currency. It is assumed that the digitization of the currency was for the purpose of facilitating its use, but it should not turn into a tool to pump more digital liquidity without having an exchange from the main currency.
Currently there is widespread use of USDT in countries whose currency is suffering from inflation. However, this does not assume that all tokens will be issued with a fixed dollar reserve.
Currently there is widespread use of USDT in countries whose currency is suffering from inflation. However, this does not assume that all tokens will be issued with a fixed dollar reserve.
CBDC is just a new historical turn, the transition of money to another qualitative level. If you remember, at the beginning of civilization, existing money was provided with precious metal in it, then banknotes appeared, then a mix of fiat money and non-cash payments (now we are here). The next step is CBDC. This was driven by cryptocurrencies and blockchain technology. The essence of CBDC is total control over the movement of money and total state control over the money itself. Yes, and also the security of the financial system of the state! Because for example, CBDC solves the problem of counterfeiting, "financial attacks on the state", etc. actions.
Nothing else!
we are still in the early adoption of CBDCs. so right now the governments don't know yet the full potential or impact of its usage. but definitely, the tracking of CBDC is much easier than the usual physical fiat money. transparency is one of the things that this digital fiat can offer. but let's see how people will use this to their own advantage.Nothing else!
It makes their lives more easier. I don't think governments created CBDC's to save their fiat currencies but even if that is their motive then it won't work.
You call fiat is scam? why you're still use fiat to spend food and pay bills right now? if it's scam don't use it, except you're a dumb person.
Actually fiat isn't scam, but you shouldn't hold most of your funds in fiat since the value will become worthless in the future. This is why money management and financial is really important to understand why investment is really important.
CBDC is digital fiat that the value is stick with fiat 1:1, there's no way to save inflated currencies through digital since the problem is the currency.
if it's scam don't use it, except you're a dumb person.Actually fiat isn't scam, but you shouldn't hold most of your funds in fiat since the value will become worthless in the future. This is why money management and financial is really important to understand why investment is really important.
CBDC is digital fiat that the value is stick with fiat 1:1, there's no way to save inflated currencies through digital since the problem is the currency.
CBDC is just a new historical turn, the transition of money to another qualitative level. If you remember, at the beginning of civilization, existing money was provided with precious metal in it, then banknotes appeared, then a mix of fiat money and non-cash payments (now we are here). The next step is CBDC. This was driven by cryptocurrencies and blockchain technology. The essence of CBDC is total control over the movement of money and total state control over the money itself. Yes, and also the security of the financial system of the state! Because for example, CBDC solves the problem of counterfeiting, "financial attacks on the state", etc. actions.
Nothing else!
Nothing else!
we are still in the early adoption of CBDCs. so right now the governments don't know yet the full potential or impact of its usage. but definitely, the tracking of CBDC is much easier than the usual physical fiat money. transparency is one of the things that this digital fiat can offer. but let's see how people will use this to their own advantage.
CBDC is just a new historical turn, the transition of money to another qualitative level. If you remember, at the beginning of civilization, existing money was provided with precious metal in it, then banknotes appeared, then a mix of fiat money and non-cash payments (now we are here). The next step is CBDC. This was driven by cryptocurrencies and blockchain technology. The essence of CBDC is total control over the movement of money and total state control over the money itself. Yes, and also the security of the financial system of the state! Because for example, CBDC solves the problem of counterfeiting, "financial attacks on the state", etc. actions.
Nothing else!
Nothing else!
The only advantage of CBDC is that it reduces the fees for printing money and thus saves a lot of money. Also, if it is managed efficiently, it will increase transparency and reduce corruption, but we all know that this will not happen.
Therefore, if the system is corrupt, these currencies will give the countries great control over the people's money and force them to take whatever taxes they want.
Therefore, if the system is corrupt, these currencies will give the countries great control over the people's money and force them to take whatever taxes they want.
There are a ton of other potential issues that come to my mind: negative interest rates, which typically get sold as a positive thing stimulating the economy, could not be circumvented anymore by people who choose cash over other investments. With the application of negative interest rates people would feel forced to switch into other assets or accelerate consumption. That could be played out in a very tricky way. I would bet that banks are sitting on exactly those assets that are then the escape for people trying to avoid negative interest rates, thereby driving up those other assets' prices. I'd say it's similar to quantitative easing, but this time it is not the banks pumping money into the markets, but the people who are kind of left without a choice.
There is lots of stuff you can do with CBDCs. Among the range of possibilities is certainly also the ability to create a perfect, fully transparent profile about people, which is not unlikely to end up in exacerbating social control.
A CBDC will not and cannot save weak currencies, it will only change how fiat transactions will be conducted and regulated, and that's about it. That's why I don't really care about things like CBDC, because this is not a new innovation.
What ever that's controllable and programmed by the government and banks are nothing but complete shitty, how many threads need be created before this finally gets to full conclusion ? They're same scheme and ideas of the fiat system, nothing much added to it really.
Fvck the Fed's and use Bitcoin. In Nigeria, redesigning the paper fiat would make it a bit scares, I don't know if would see a high use of Bitcoin or E-Naira.
The means could also be a means to monitor the fund's used by the political parties during the next election if I'm guessing right.
Fvck the Fed's and use Bitcoin. In Nigeria, redesigning the paper fiat would make it a bit scares, I don't know if would see a high use of Bitcoin or E-Naira.
The means could also be a means to monitor the fund's used by the political parties during the next election if I'm guessing right.
CBDCs are no more than fiat currency scams on steroids. As long as the current fiat system is not viable, then CBDCs are even less viable as they enable the government to engage in even more currency debasement. CBDCs cannot save weak currencies like the Ghanian Cedis, the Zimbabwean Dollar, the Venezuelan bolivar, the Argentine peso, or the Lebanese lira. The eNaira, Africa’s first central bank digital currency (CBDC) is a total failure and did not save the Nigerian fiat currency. Infact, there are a lot of bad things that come with CBDCs and countries should avoid it. What do you think. Do you have a dissenting opinion?
https://financialunderground.com/articles/another-big-cbdc-flop/
https://financialunderground.com/articles/another-big-cbdc-flop/
On the one hand, CBDC is a basic element of a digital concentration camp, and on the other hand, it is a very effective tool for managing the economy.
CBDC (in theory) allows you to fully control all income and expenses, as well as plan production and consumption. Along with the digital marking of goods, this will ensure total control and planning of all financial and economic operations in the country.
This will allow to produce products with minimal costs, and therefore increase the competitiveness of the country that has implemented the CBDC system.
Why should CDBCs save already existent national currencies? I'm pretty confident that the opposite will happen sooner or later; a currency reset, which will introduce us to CBDCs.
The only advantage of CBDC is that it reduces the fees for printing money and thus saves a lot of money.
One more advantage, over to physical cash, is comfort. It's easier to pay for a dinner electronically if you're going to pay individually. Physical cash often introduces problems when it comes to change. 
The only advantage of CBDC is that it reduces the fees for printing money and thus saves a lot of money. Also, if it is managed efficiently, it will increase transparency and reduce corruption, but we all know that this will not happen.
Therefore, if the system is corrupt, these currencies will give the countries great control over the people's money and force them to take whatever taxes they want.
Therefore, if the system is corrupt, these currencies will give the countries great control over the people's money and force them to take whatever taxes they want.
CBDC is not a fiat currency scam. CBDCs should significantly improve the efficiency of government cashless payments. It also cannot be said that the system of national currencies of each state is not viable. With the effective work of the government, its functioning of the currency of this state will also be effective. This system has been developed over centuries and millennia of human history. It should simply be remembered that nothing is perfect in our gross physical world. Cryptocurrency is also not perfect. We need to be able to use a specific payment system for each specific case.
If it's not fiat currency scams then how can Fiat keep inflation in check if its value continues to shrink due to the absence of truly certain reserves? who makes fiat effective? Both CBDC and Fiat are actually governments just wanting to control your assets and don't want to see the decentralization of cryptocurrency ownership go unchecked. Are you just going to become a fiat slave to feel that you have lasting value? if fiat survives, the government will not issue a CBDC just to keep up with technological developments.As @Lucius said, "just to meet the challenges of the new digital age". that's the conclusion!!
CBDCs are no more than fiat currency scams on steroids. As long as the current fiat system is not viable, then CBDCs are even less viable as they enable the government to engage in even more currency debasement. CBDCs cannot save weak currencies like the Ghanian Cedis, the Zimbabwean Dollar, the Venezuelan bolivar, the Argentine peso, or the Lebanese lira. The eNaira, Africa’s first central bank digital currency (CBDC) is a total failure and did not save the Nigerian fiat currency. Infact, there are a lot of bad things that come with CBDCs and countries should avoid it. What do you think. Do you have a dissenting opinion?
https://financialunderground.com/articles/another-big-cbdc-flop/
https://financialunderground.com/articles/another-big-cbdc-flop/
If you post this on social media, you might just be fact-checked. The fiat Ponzi wants to stay afloat so they meant to use the centralized system that can stop the people from having thier freedom. Nigerians have BTC as an option but China didn't have an option. It seems CBDC is not flopping on them.
of course, all the things said about CBDC can be a borderline for conspiracy theory, especially the surveillance and freezing of money if you are caught on social media opposing the government. We'll truth comes out already with Paypal's term.
Last year, The government of Dubai has announced that they will remove all paperwork from administrative transactions and they will go 100% digital. This saves them a lot of money as well as a lot of time. Shows that the development of the world is moving towards a more civilized, more convenient. Using CBDC is simply a step forward in bringing technology into our lives, not a scam or a government trying to make excuses.
https://www.ndtv.com/world-news/dubai-worlds-first-government-to-become-100-per-cent-paperless-crown-prince-sheikh-hamdan-bin-mohammed-bin-rashid-al-maktoum-2648107
https://www.ndtv.com/world-news/dubai-worlds-first-government-to-become-100-per-cent-paperless-crown-prince-sheikh-hamdan-bin-mohammed-bin-rashid-al-maktoum-2648107
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