CHINA GOVERNMENT INTRODUCES ITS OWN DIGITAL CURRENCY

DerekJohnson

https://mcalvanyweeklycommentary.com/china-introduces-digital-currency/

creepycoug

Swedes jumped in too.

It's going to be hard to get all the money in that white powder what with all the transparency and shit.

@Doog_de_Jour

@MikeSeaver

@RaceBannon

@YellowSnow

BleachedAnusDawg

Seems like the on to own since we're allowing them to take over the world.

LoneStarDawg

Most Swedes don’t know what paper money looks like, true fact.

Digital first is nice, assuming you aren’t going to get fucked by it

Baseman

China doesn't like a dollar alternative -- yet -- and Bitcoin is a threat. Adding a govt backed crypto for them = abundance

BuffBuffPass

These central bank digital currencies (CBDCs) are all about surveillance. There is no real demand or need for digital fiat currencies because we already have second or third layer fiat solutions like Visa/Mastercard for business and Venmo/CashApp/Zelle for personal. If you have those ways to use the dollar (or any other supported fiat currency), why would you need or want a CDBC?

Tangential to the topic but I always laugh when some of these central bank clowns make statements that CBDCs will reduce demand for Bitcoin. They just don't get it at all.

creepycoug

BuffBuffPass said:

These central bank digital currencies (CBDCs) are all about surveillance. There is no real demand or need for digital fiat currencies because we already have second or third layer fiat solutions like Visa/Mastercard for business and Venmo/CashApp/Zelle for personal. If you have those ways to use the dollar (or any other supported fiat currency), why would you need or want a CDBC?

Tangential to the topic but I always laugh when some of these central bank clowns make statements that CBDCs will reduce demand for Bitcoin. They just don't get it at all.

Meaning that the whole premise, or a good portion of it, is to have a currency decoupled from the guv? Forgive the question with the obvious answer. I'm still learning about crypto, as you well know.

BuffBuffPass

creepycoug said:

BuffBuffPass said:

These central bank digital currencies (CBDCs) are all about surveillance. There is no real demand or need for digital fiat currencies because we already have second or third layer fiat solutions like Visa/Mastercard for business and Venmo/CashApp/Zelle for personal. If you have those ways to use the dollar (or any other supported fiat currency), why would you need or want a CDBC?

Tangential to the topic but I always laugh when some of these central bank clowns make statements that CBDCs will reduce demand for Bitcoin. They just don't get it at all.

Meaning that the whole premise, or a good portion of it, is to have a currency decoupled from the guv? Forgive the question with the obvious answer. I'm still learning about crypto, as you well know.

Not just decoupled from the gov but decoupling the ability of any centralized party to change the supply or to permission transactions. Permissionless with a fixed supply schedule. Certain central bankers (mostly European) cannot fathom not having total control over the money supply or that anyone would not even want them to have that power.