Bitcoin Forum
June 17, 2024, 07:31:03 AM *
News: Voting for pizza day contest
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: ㅤ  (Read 617 times)
stompix
Legendary
*
Offline Offline

Activity: 2926
Merit: 6410


Blackjack.fun


View Profile
November 28, 2020, 01:52:34 PM
 #21

As a result of the reform, CBDC users will be robbed.  They will not be able to receive interest on deposits.  Why does the state need it?  To stimulate consumption?  But this means that people in the future will be slaves without their own savings.

I'm not a fan of the whole deposit your money here and you earn interest! Even when it comes to bank deposits guaranteed by the state or government bonds, the thing with interest is that it comes with inflation, you have high interest on your deposit you can be sure that the price of all the goods will go up by at least that percentage on a year by year basis.

Not being able to deposit your money for that would be my least concern,  if that would have been one of the main goals they could have done it even without a CDBC, they can simply tax the hell out of your income from deposits so you would avoid putting one $ in these.

Exactly. The primary goal of CBDC is to entirely eliminate the ability of people to postpone consumption. When all the money in the economy is digitalized and cash is eliminated, it will not be possible to make savings; you will be forced to spend your money as quickly as possible to avoid losses. You will be forced to increase your consumption of things you don't like and spending on things you don't need, and consequently will find yourself having a very high time preference.

The increased spending would also affect the velocity of money and would lead to rampant inflation, but this would have a side effect, some goods will grow at the same pace so if you decide to spend on things that retain their value like land, houses, and many more you will be shielded from it. Fortunately for us, they will not push with a plan that would force people to consume at increased rates as that would hurt their budgets also,  in the EU, for example, increased consumption combined with inflation would have a negative impact on welfare and pension funds and for decades no government is even daring to touch those who are close to becoming out of control problems on their own.

In our case, the EU has already ways of if not all-out terminating deposits making them useless.

What I'm saying is that there are far worse things coming with those and I'm sure in a short time we will be faced with far worse scenarios, one of them would be debts, and the possibility of the state to control your finances when you're in debt.
Just think of it!  You're owning money you're not allowed to use your funds for x, y, and z. How does that sound?

.
.BLACKJACK ♠ FUN.
█████████
██████████████
████████████
█████████████████
████████████████▄▄
░█████████████▀░▀▀
██████████████████
░██████████████
████████████████
░██████████████
████████████
███████████████░██
██████████
CRYPTO CASINO &
SPORTS BETTING
▄▄███████▄▄
▄███████████████▄
███████████████████
█████████████████████
███████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
███████████████████████
█████████████████████
███████████████████
▀███████████████▀
█████████
.
witcher_sense
Legendary
*
Offline Offline

Activity: 2380
Merit: 4372


🔐BitcoinMessage.Tools🔑


View Profile WWW
November 30, 2020, 06:45:40 AM
Merited by Symmetrick (1)
 #22

<...>
What I'm saying is that there are far worse things coming with those and I'm sure in a short time we will be faced with far worse scenarios, one of them would be debts, and the possibility of the state to control your finances when you're in debt.
Just think of it!  You're owning money you're not allowed to use your funds for x, y, and z. How does that sound?
It sounds like we are slowly but surely moving towards a dystopian world, which was thoroughly described by Orwell in his famous novel "1984". CBDCs will allow governments all over the world to control not only the everyday transactions, spendings, and incomes of citizens but also their thoughts, habits, beliefs, preferences, to name a few. The control over the money we transact with is akin to control over the language we speak. CBDC is newspeak of modernity, governments want you to stop "double-thinking" and this new type of money is going to help them to achieve their goal.

Here is an interesting article regarding this topic: Central Bank Digital Currencies and A Bretton Woods Moment

█▀▀▀











█▄▄▄
▀▀▀▀▀▀▀▀▀▀▀
e
▄▄▄▄▄▄▄▄▄▄▄
█████████████
████████████▄███
██▐███████▄█████▀
█████████▄████▀
███▐████▄███▀
████▐██████▀
█████▀█████
███████████▄
████████████▄
██▄█████▀█████▄
▄█████████▀█████▀
███████████▀██▀
████▀█████████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
c.h.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀█











▄▄▄█
▄██████▄▄▄
█████████████▄▄
███████████████
███████████████
███████████████
███████████████
███░░█████████
███▌▐█████████
█████████████
███████████▀
██████████▀
████████▀
▀██▀▀
BTCappu
Member
**
Offline Offline

Activity: 516
Merit: 38


View Profile
December 05, 2020, 03:34:16 PM
 #23

Definitely one of the best topics I have ever seen in the bitcointalk about educating people. I mean cbdc is not something that is common and already under way for huge numbers just yet, but you create a topic about it to teach people before it becomes a standard and something common in order to educate people about what is going to happen with them in order to not have people be unprepared for something like this.

Who can say that cbdc will not be common or a standard in the industry? Nobody can predict that, so this should be thought in crypto related places in order to make it a lot more common. I would say cbdc is not going to be that common according to what I believe, but it still is not a reason to not know what they are with this much detail neither.

▬▬▬▬▬  ♦  ▬▬▬▬▬          ♦     Betnomi     ♦          ▬▬▬▬▬  ♦  ▬▬▬▬▬
300% Deposit Bonus       //     100% Rakeback     //     20% Weekly Cashback
▄  ▄▄  ▄▄▄   ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄   ▄▄▄   ▄▄   ▄
l8orre
Legendary
*
Offline Offline

Activity: 1181
Merit: 1018


View Profile
December 08, 2020, 07:13:56 AM
 #24

I think that the op represents excellent research on the status of CBDCs, maybe this thread can become a collection for ongoing developments in that area.

Here is another snippet from zerohedge as a little update:

https://www.zerohedge.com/markets/g7-finance-ministers-strongly-support-regulation-digital-currencies
sana54210
Legendary
*
Offline Offline

Activity: 3206
Merit: 1128


"CoinPoker.com"


View Profile
December 09, 2020, 03:21:38 PM
 #25

It is all about how much of a danger they would posses depending on how much power they can grab. Big companies buying a lot of bitcoin is both great but also terrible at the same time, it is great because it takes a lot of money out of the circulation and that makes bitcoin price goes up, but it is terrible because it collects the money in one place and they could sell tens of thousands to dump the price.

What we need to make sure happens right now would be to arrange a situation where we are going up in price but also do not give too much power to them as well.

We can't stop them from buying bitcoin, that is not an option, so we need to find a way to promote how awesome it is for them to get involved with this but also not worrying that they are doing it as well.

Argoo
Full Member
***
Offline Offline

Activity: 2310
Merit: 227


#SWGT PRE-SALE IS LIVE


View Profile
December 26, 2020, 06:34:36 AM
 #26

What I find truly astonishing is that we already have digital currencies: credit cards, bank wires, SWIFT payments they are all in digital form. We have 0s and 1s on a database somewhere that implies how much do we have. If they don't implement a blockchain-based CBDC nothing much will change really. They had to find some way to tackle bitcoin's humongous superiority and they came up with CBDC.
On the topic of anonymity, I would never trust an anonymity voucher issued by a central bank.
Yes, cashless payments have been in every state for a long time. However, the stablecoins of central banks using blockchain technology are far superior to existing cashless payments in almost every metric. Therefore, for states, the appearance of their stablecoins significantly improves the global financial system. How this will affect bitcoin and other cryptocurrencies, time will tell, because not everything is simple here. Stable coins of states raise the overall role of cryptocurrencies and arouse the general interest of people in them, however, at the same time, they are real competitors to decentralized cryptocurrency as a means of payment.

SWG.ioPre-Sale is LIVE at $0.15
║〘 Available On BINANCE 〙•〘 FIRST LISTING CONFIRMED 〙•〘 ✅ Certik Audited 〙║
╙ ›››››››››››››››››››››››››››››› BUY NOW ‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹ ╜
Argoo
Full Member
***
Offline Offline

Activity: 2310
Merit: 227


#SWGT PRE-SALE IS LIVE


View Profile
March 19, 2021, 07:30:48 AM
 #27

What I find truly astonishing is that we already have digital currencies: credit cards, bank wires, SWIFT payments they are all in digital form. We have 0s and 1s on a database somewhere that implies how much do we have. If they don't implement a blockchain-based CBDC nothing much will change really. They had to find some way to tackle bitcoin's humongous superiority and they came up with CBDC.
On the topic of anonymity, I would never trust an anonymity voucher issued by a central bank.
It seems to me that non-cash payments and digital money are still different from each other. At the same time, it seemed to me that the digitized currencies of the central banks of the states would be issued on blockchain technology and that this is the essence of the innovation and their significant advantage. However, I was surprised by the information that the Chinese digitalized yuan will not work on the blockchain. True, the fact that the digitized yuan has been developed since 2014 can play a role here. As far as I know, while other stable currencies of states will be on blockchain technology.

SWG.ioPre-Sale is LIVE at $0.15
║〘 Available On BINANCE 〙•〘 FIRST LISTING CONFIRMED 〙•〘 ✅ Certik Audited 〙║
╙ ›››››››››››››››››››››››››››››› BUY NOW ‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹‹ ╜
tbterryboy
Sr. Member
****
Offline Offline

Activity: 1946
Merit: 322


View Profile
March 26, 2021, 05:46:25 PM
 #28

It seems to me that non-cash payments and digital money are still different from each other. At the same time, it seemed to me that the digitized currencies of the central banks of the states would be issued on blockchain technology and that this is the essence of the innovation and their significant advantage. However, I was surprised by the information that the Chinese digitalized yuan will not work on the blockchain. True, the fact that the digitized yuan has been developed since 2014 can play a role here. As far as I know, while other stable currencies of states will be on blockchain technology.
Non-Cash has been a thing for nearly 30 years if I am not wrong, non-cash refers to credit cards and checks and wire transfers and basically everything that is not giving someone paper banknotes, that is what it means in my nation, so I do not know about the world.

On the other hand just because something is using blockchain doesn't make it a crypto currency neither, digital currency that uses blockchain but controlled by the states itself with basically centralized control to do whatever they want, is something that would be actually worthy, there is nothing that we could do to stop them from controlling it and doing whatever but that would at least open the doors for nations to accept crypto as a good thing. This is why I find it very good, I do not know when I will be using it, but I think even if I do not use it, I would still support it.
oHnK
Hero Member
*****
Offline Offline

Activity: 1414
Merit: 574


View Profile
March 27, 2021, 04:36:18 PM
 #29

This is why I find it very good, I do not know when I will be using it, but I think even if I do not use it, I would still support it.

But the reality is that the developing money countries are not like that.  They assume that what they create will be a competitor for crypto and may even prohibit crypto in their country and only allow the public to use the CBDC that has been created.  Even though for myself, the use of crypto is because it is against the general economic problem, namely inflation.  As long as I have crypto, the money I have never decreases in value, instead it continues to increase.  Meanwhile, whatever becomes the government's control is inseparable from inflation, for example, the fiat money we use as well as the CBDC later.
Ozero
Full Member
***
Offline Offline

Activity: 2086
Merit: 180


View Profile
February 09, 2022, 09:56:24 AM
 #30

~
The difference between CBDC and cryptocurrency is that the national bank is responsible for it and it has a stable value, which is not the case for conventional cryptocurrency. CBDC is as much part of the money supply as paper money.
If what you say is true and governments and bankers are going to inject all CBDC into the total supply of money, then we should be expecting an unprecedented rise in the inflation rate because of uncontrolled issuance. For me, the main difference between cryptocurrencies and central bank digital currencies is that the former aims to reform the current financial order and tries to deprive governments of the right to issue money. The latter is a conservative approach and is aimed to preserve the established order and empower central banks.
Government CBDCs should not be thoughtlessly added to circulation. Central bank stablecoins will partly replace cash, partly regular non-cash payments, and partly introduced as an increase in national gross income. After all, CBDC are the same non-cash money of states, but in their activities they mainly use blockchain technology.
It was previously announced that the Chinese digitized yuan would be officially launched in time for the opening of the Winter Olympics. So far, no news about this has been heard.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!