Topic: USA and cbdc and Donald Trump (Read 198 times)

I don't even agree that it has to do with either legitimate or illegitimate money, i could be spending money i got legitimately, but i do not want my government to have records of absolutely everything i do with my money, i know they control fiat, but at least there is some form of privacy when you use cash at hand, but you lose absolutely every iota of privacy when you use CBDC's. Having said that, Bitcoin is not only the best investment asset, when it comes to decentralized money and one that is free of censorship, Bitcoin is the best option.

If Trump becomes US President again, the current relative stability and global security will be greatly disrupted. Trump's current harsh statements regarding the cessation of aid to allies and the need to dissolve NATO have already greatly frightened the countries of Europe, and not only Europe. Even if these and other statements of his are purely populist in nature during the pre-election period, they still do not paint the leader of a large state.

As for Trump’s attitude towards cryptocurrency, in general it is more negative. You shouldn’t even hope that he will do anything useful for cryptocurrency. Although people and circumstances change over time. But first, Trump needs to win the election. And here the fateful event could be the courts finding him guilty of the criminal offenses that are being investigated against him.

Let's not deny the fact that the common people will love to transact using CBDC because of it's digitized capability and faster transaction processing time. If you have heard about UPI payment system in India, you will know the benefits of having a digital transaction facility.

But yes, privacy concerns will be there. But if people are using their legitimate money, that won't raise any concern. That's why I always say that Bitcoin is the best investment asset, but not a great payment processor. It is slow and expensive.

Well, to be realistic, I don't see governments to go full into "control of people's finances" mode immediately after implementing their centralized Fiat coins. First, they will try to convince people there is nothing to be afraid of and their personal data and purchasing history is "secured", big companies will try to lure people into accepting the CBDCS by announcing offers and attractive deals for those who pay with their centralized digital wallets instead of cash. One most of the population is hooked, then they will being to deploy those infinite Terms of service / changes of laws which nobody reads and all accepts.
Also, since many in the United States depend on credit, I don't have many doubts that in the application of that wallet there will be a big red button to ask for credit to the bank and a debt-o-meter showing the credit score of the user in real time.
It could be just me, but I would rather to stick to Bitcoin and Cash, instead of that dystopian wallet model which is already been tried or fully deployed in countries like China. 

Fortunately, my local government is so inept that I would not expect them to do the same China did, unless they ask for help to Pekin. Let us see what happens.

You are very naïve if you really think this is true! They may use the "buzzwords" to get some votes during the scam known as presidential candidacy advertisements, but in the end it is not up to them to be pro anything and they definitely aren't pro anything decentralized and out of their control (shitcoins like stablecoins are centralized but still not fully in their control).

I don't think you understand what CBDC is. It is just fiat turned 100% digital with 100% surveillance. Which is the wet dream of all governments to have full control specially on your finances!

I very much doubt that Trump, when he becomes President of the United States, will actively support Bitcoin and other decentralized cryptocurrencies, much less private and commercial stablecoins.

According to a published financial disclosure form filed with the U.S. federal Office of Government Ethics, Donald Trump has an Ethereum cryptocurrency wallet that stores $250,000 to $500,000 worth of virtual assets. But the wallet is likely linked to his collection of non-fungible tokens (NFTs) launched as part of Trump's campaign for this year's US presidential election.
While heading the White House, he did not speak out on this topic so often, only in July 2019 he admitted on his Twitter that “he is not a big fan of Bitcoin and other cryptocurrencies.” And after losing the last election, Trump said in June 2021 that the first and most popular cryptocurrency, Bitcoin, “looks like a scam,” and made it clear that he prefers fiat currency. "I don't like it because it's a currency that competes with the dollar. I want the dollar to be the world's currency," Trump said.
https://hub.obozrevatel.com/kritik-kriptovalyutyi-donald-tramp-skryil-ethereum-na-polmilliona-dollarov.htm

You can cite other statements by Trump about cryptocurrency, namely:

"Investing in cryptocurrencies is a potential disaster waiting to happen."

Cryptocurrencies “may be fake.”

Bitcoin "looks like a scam" and the euphoria around it is weakening the dollar.

https://www.ukr.net/ru/news/details/technologies/86884766.html

The government of the European Union and the United States wants to have transactions quicker and lure people into accepting their CBDCs as something good, without considering the risks against privacy and security. I would rather to keep Fiat in the old way, using bills, but in this era of digital enhancements and advances, it was no way for China not to try to implement their Central Bank Issued Digital currency, for the dismay of their citizens. Washington would love to do exactly the same thing, however, the system of checks and balances will make it slower, delaying the appearing of USD backed CBDCs.
Trump may be perceived as someone who is against the establishment, but he is not in an ideological position to oppose the federal reserve and the big companies being the effort to completely centralize the monetary system as much as possible, he won't even try to stop it.
As soon as those centralized digital currencies start to become mainstream,it will be very obvious we one needs Bitcoin and projects like Monero to continue to thrive within our ecosystem.

I personally would not trust a politician like Donald Trump. I sometime feel that he is mentally unstable. Also it is very much possible that Trump is trying to lure the crypto community to vote for him. In a federal structure, president doesn't always take the final call in these things.

Also I don't understand what is this positive around stable coin is! It's better to buy the actual reserve currency rather than buying a stable coin. It just doesn't make sense because both fiat and stable coins are centralised.

gotta laugh

USstable coins are just pegs of USD
if the USD value fails/hyperinflates,,  stable coins tumble, hyper inflates with it

oneday parklane will realise it

although stable coins can be traded without wire transfer of old banks, they are still based on USD
its basically just the difference between a bank note vs a digital cheque, of the same currency.. just different formats/processed differently

using a USstable coin does not hedge against old USD

paying by digital cheque does not create or cause a inflation hedge vs paying by bank note.. they are literally pegged

Listening to what trump says, I get 2 feelings:
1. he is a populist and a showman, with complexes that he tries to realize in public. And that's not a bad thing !
2. he wants to destroy the USA as it is now and build his empire. Not like the Roman Empire, but like Trump's Empire. Which will build alliances with similar regimes. But to do this, it is necessary to break everything in the USA - the system of power, the system of "balances", relations with friends, relations with partners in alliances and organizations...

I could be wrong. I want to be wrong, but I'm afraid I'm right. And the worst part is if both assumptions are correct.)

CBDC has not been created in the United States. What is the meaning of they are not into CBDC when CBDC is not existing in a nation?

If I am from United States, I will not buy stable coins. I will prefer to just buy dollar instead because I trust dollar than those fiat that are pegged to dollar price. Instead of buying the peg (which can depeg), I will prefer to buy the actual fiat.

People should understood the world is business it's not about some "utopian style " control.
The way how the CBDC-S are imposed to trump regime will not let it happening they people been told.
All those trump buddies the cpac including blackrock larry Fink and many influencial people want capitalism.
It's all about profit and private ownership in some cases maybe it's some "goverment utopian" cbcd but the core blockchain will be bitcoin or eth or other main blockchain.
The point as always are the rich the old money power will buy cheap first or accure assets and then goverment will make laws according to them.
Trump team are 100% pro bitcoin and pro stablecoins.
No noubt about that trump will improve crypto and freedom , guys like trump don't need some "utopian style"control all they need is just to be rich and wealthy and then as we know who got money have power.

I see good future for btc in USA and finally good future for stablecoins like USDC.
I don't know what the people are waiting ? The btc are ready the stablecoins are ready the old fiat system is done and the smart money old money trump friends are allready in crypto and they are not in Cbdc -s they are in btc and stablecoins.
The CBCD -S are more likely money for poor or people who did not join with cryptocurrency.
The rich and wealthy and people who prefer the capitalism and freedom use cryptocurrency like btc.
but little do the poor and not educated people know that btc and main coins like eth are the core ledger of all the blockchain cryptocurrency system weather it's CBDC-s or not.
The world always works same way nothing changes those who adapt fast and before others together with guys like trump the extreme capitalist always win.
In some point it will be socialism but those who are not in crypto well they need to work harder.
Anyways the old system can now go away and a lot old things like small Banks can collapse becouse the old money is in safe now they are in safe boat in bitcoin.
Trump will make btc great and stablecoins great.
everybody who been against stablecoins will learn the Lesson now it is the new dollar.
No questions about that your success in the world will depend on how good knowledge you have in crypto.
Trump been quiet about crypto long time becouse instutions like blackrock was't interested you as average person will have btc you should buy with high fees and high Premium the btc and crypto only when btc will be 600k price then it's a time for average person to buy not now.
The next phase of money printing over the decades will be stablecoins based the blackrock and circle allready working with this so in the future the money will be printed by minting stablecoins on tether treasury department.
We gona see beatuful future and a lot prosperity.
Im glad to see usa going into btc and stablecoins and upcoming deflation the stablecoins will do great.
Here is what you need to understood the assets will be not correlated soon with each other so much we can see that dollar value goes up (deflation)and same time btc price will go up aswell this situation will make many of you confused but that's how it will play out.
Only true btc and stablecoins belivers will benefit If this those who panic and fear will not gona make it.
I can't belive that even so called experts don't talk about this topic this is how many people can get so rich but yet its not discussed.