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Author Topic: Chinese city now accepts CBDC payments for bus rides  (Read 455 times)
umbara ardian
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July 13, 2023, 04:52:44 AM
 #61

The Chinese government is launching its own CBDC, which could have significant economic and technological advantages. They hope that developing a CBDC to the exclusion of other currencies will help create more liquidity and stability in their economy. Possibly objectionable to foreigners, many would disagree with such a government because it overestimates or limits individual liberties. But in fact, China has imposed it on its people for thousands of years, and the people still abide by this decision.

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July 13, 2023, 02:05:01 PM
 #62

The Chinese government is launching its own CBDC, which could have significant economic and technological advantages. They hope that developing a CBDC to the exclusion of other currencies will help create more liquidity and stability in their economy. Possibly objectionable to foreigners, many would disagree with such a government because it overestimates or limits individual liberties. But in fact, China has imposed it on its people for thousands of years, and the people still abide by this decision.


Unfortunately, you can't make a real argument that CBDC will provide any real economic benefits... Or will you try?

The main purpose of CBDC is TOTAL control of funds of both private business and citizens of the country. China is sinking into the abyss of big and systemic problems, plus the vector of the "people's party" is changing. If recently China was developing towards some freedoms, now it is going back to totalitarianism. Freedoms are already diminishing. This means that control mechanisms are needed... These are the issues of withdrawal of funds outside China, financing of democratic currents, and internal flow of funds. And there is no way to do it without the CBDC! Believe me - this is not for the "happiness of the people" is not done...

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July 15, 2023, 09:21:12 PM
 #63

What happens is that governments are still operating under the premise they can deceive and coerce their citizens to do what they want, and if there is something history show us is that governments can have some control over their citizens, but if things go out control, especially the economy, then that control evaporates, fiat currencies are a failed experiment and it is just a matter of time before they collapse, and once they do people will never forget it thanks to the internet and social media, and at that time people will reject CBDCs regardless of any incentive or threat governments could make.
Well, that is quite true though, governments CAN deceive and coerce their own citizens, even manipulate them to do whatever they want. This isn't really a shocking turn of events, I believe that it could continue to be like this for a long time. I am guessing that the best thing to do in this case would be making sure that you are doing a better job at it, and for that to happen you need to realize you can't check the media, because if you check the media in EVERY channel there are lies.

Some believe the ones they believe and think the other side is lying, that's not true, every single one of them lies, not even a single one of them tells the truth. This is why we believe that it is not going to be easy and will have some hard time for sure.
And I agree, it is going to be very difficult to get people to wake up to the fact that a great deal of things they know and that they take for granted were lies, and in order for this to happen then we will need an event that wakes them up and shocks them to their core, and a financial crisis way worse than the great depression will without a doubt change the way people look at all the information they have been exposed all their lives, and finally reject a part of the excessive control the governments want to exert over them.
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July 15, 2023, 10:31:50 PM
 #64

Well at least, the Chinese have started something. I'm still not sold on the idea of CBDCs but if it's working good on some countries then great for them. The whole world is slowly shifting towards digital payments anyway so this type of news is nothing new. What's new however is that China managed to get everything working for once before launching it to the public. Other countries must read notes if they also wanted to implement CBDCs in their country as they could learn a thing or two on what or what not to do once they roll out their own CBDCs.

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July 15, 2023, 10:53:23 PM
 #65

Well at least, the Chinese have started something. I'm still not sold on the idea of CBDCs but if it's working good on some countries then great for them.
You can also expect CBDC to have a positive impact on crypto growth if some centralized exchange makes it a trading pair. I've heard of the idea - but so far no realisation. CBDC is basically the same as fiat digital - it's not that different.

The whole world is slowly shifting towards digital payments anyway so this type of news is nothing new. What's new however is that China managed to get everything working for once before launching it to the public. Other countries must read notes if they also wanted to implement CBDCs in their country as they could learn a thing or two on what or what not to do once they roll out their own CBDCs.
I believe that over time the world's civilization will move towards digitalization. Adoption of digital currencies has become a new trend in the financial system - but unfortunately many governments cannot yet consider bitcoin as one of them. CBDC is a controlled currency - while bitcoin is not. So maybe that's why governments can't adopt bitcoin.
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