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Vlad_The_Impaler on scored.co
9 months ago0 points(+0/-0)1 child
Yes but he also said he'd buy bitcoins as federal reserves, which is a violation of his own executive order. So his executive order is so worthless that he contradicts it and violates it himself.
I disagree because the reasons I am opposed to a CBDC, and the reasons that I've surmised most of my ilk are opposed to a CBDC, do not apply to Bitcoin.
The reasons people typically give for opposing a CBDC (most of which, by the way, apply to our current system where we effectively use a "digital currency" for 99% of transactions, just in the form of swiping a card or writing a check, which is all backed by essentially "IOUs" between banks, which are effectively a digital currency):
* The bank being able to arbitrarily restrict your usage of funds.
* The bank being able to track your usage of funds, associated with your identity (Bitcoin, inherently, can be tracked, but it can also be held anonymously, countering this)
* The bank being able to even more easily "print" more money (at least with cash they have to physically produce it, rather than just click a button)
* The bank being able to arbitrarily seize your funds.
Because digital currency, in general, is useful for modern life. That is why it has gained so much traction (cards and checks, that is, which are used for the vast majority of transactions and are ostensibly a digital currency).
How? How do you know bitcoin itself is not a central bank digital currency? Because mysterious mystery man Satoshi yamaha kawasaki Mitsubishi Yamaguchi invented it? Not the CIA?
The reasons people typically give for opposing a CBDC (most of which, by the way, apply to our current system where we effectively use a "digital currency" for 99% of transactions, just in the form of swiping a card or writing a check, which is all backed by essentially "IOUs" between banks, which are effectively a digital currency):
* The bank being able to arbitrarily restrict your usage of funds.
* The bank being able to track your usage of funds, associated with your identity (Bitcoin, inherently, can be tracked, but it can also be held anonymously, countering this)
* The bank being able to even more easily "print" more money (at least with cash they have to physically produce it, rather than just click a button)
* The bank being able to arbitrarily seize your funds.