A person that is against the creation of CBDC.

[Darker45]

I still think that CBDCs, in whatever design, is a matter of when and not if. It might not be implemented in the next decade or two, but the world is surely shifting to the digital version of doing things. Everything is slowly digitalized. I don't think money will be left behind forever.

While I agree with what former president Donald Trump said, if I were working at the other side of the fence, I would strongly push for it. If I were a law enforcer, for example, confiscation and seizure of money involved in criminal transactions would be made a lot easier for me with a CBDC.

Anyway, Trump's words could be taken with a grain of salt.

[Poker Player]

Anyway, Trump's words could be taken with a grain of salt.

I think the same, since you can be saying that now, and then come to power, contradict yourself and launch the CBDC, as happens with certain promises of politicians.

In any case, and without liking the character too much, I prefer one who says at least a priori that he is not going to launch CBDCs than another who is already working on implementing them. I don't remember any renowned politician in Europe having such a clear message against them, and I would like to see one.

[Hewlet]

I think President Trump is correct about the possible control of the government on your funds as Americans and we all know that. People anywhere in the world wants privacy and full control of their funds that is why they invested on decentralized assets rather than having something like the CBDC.

possible control of the government on your fund? Is their anything like the possibility or the certainty of the government control on your fund. We should have known that most policies of the government had always centered on how they can regulate its citizens and the CBDC is one of those policies that is aimed also at controlling the independence people have with a decentralized system as bitcoin.

If these statement is not coming from an hypocritical perspective then its a good one to know that a leader at his level thinks positive on the privacy of her citizens and is kicking against CBDC.

[Mr. Magkaisa]

Government need to show to public if they're really working and adapt with the current society, CBDC is nothing different with mobile banking, PayPal or digital fiat. So creating CBDC is no need at all, why you need to create a new thing when you already have it?

I believe CBDC will use private blockchain, so you can't track it except the banks and government. It can be used to fight against corruption if they use public blockchain.

         -   You are right in saying this, mate; if it is not used correctly, it will not have good results and effects on people, including those like us who are here in the field of this industry, to be honest. Because it will still fall through manipulation and so on.

But if the motive and intention are good, the result will be really good. It's just that in the reality of what's happening, it's not really like that, so like you, I can't say that we need the CBDC because I don't see anything good that it has in the world of the crypto space.

[icalical]

Trump definitely has a good point, eventho the government could also take our Fiat money, but there will still be due and transparent process when government trying to take fiat money, but with CBDC saved on custodial wallet by the government, they can just take CBDC money without even need to disclose the reasons.

And IMHO people don't really need government CBDC, but government might think they need it, it's easier to be monitored and controlled compared to even centralized non-governmental cryptocurrency.

[Synchronice]

As your president, I will never allow the creation of a central bank digital currency.

Such a currency would give a federal government, our federal government, the absolute control over your money,

These politicians are clowns. There are two categories of clowns: Half of them works in circus and another half works in political parties. And people are so naive that it's stupidly unbelievable. If Trump is such a Patriot guy and cares about American citizens, then why was he avoiding taxes? I mean, he wasn't paying taxes, managed to get rid of them and he is proud that he did that and says that this fact means that he is smart. This action of his means that he wasn't paying the money that was meant to be used for the government and for the people, he was stealing money from the people and was humiliating the people who were honest workers and were paying taxes. And now there are some people who believe that he is against the total control of money, how can anyone believe what he says?

However, you should know that cash will not disappear overnight and that the transition period will probably last several tens of years, except in countries like China where people are not asked for anything anyway and have to agree to everything that is asked of them.

I think that Chinese model will soon be implemented in so called democratic western countries because it's the perfect model to control people for a very long period of time.

Don't take what politicians say in their advertising campaigns too seriously. They'll tell you anything you like because they know you are going to forget it the day they entered office
Specially crap a crazy old man like Trump is saying because he is too desperate to get back into the office they kicked them out of...

It's meaningless to say that, people will believe, no matter what.

When the trend of CBDCs was new, I was somewhat scared, but having watched the CBDC of many countries fail, it doesn't bother me anymore and I don't think that CBDCs are in battle with stable coins or crypto at large.

Overall, aim is to have cashless society where absolutely every person's money will be controlled. It's not a conspiracy, take a very small loan and don't pay on time, your bank accounts will get frozen but you'll be able to keep cash on your hand and buy something in the supermarket but once there will be no cash left and cryptos will be under complete control, then everyone will be in trouble.

[pooya87]

the voters should take into account what is important for them and whether it was done in the previous mandate or not, not the lies from campaign.

I'd say the real question voters should ask themselves is why should their choices be between Biden and Trump anyway? Two elderly men who don't know what they're doing half the time. Can't they really come up with anybody better in a country with 330+ million?!!!

The reason is simple; people are too "lulled" to do anything, which is why nothing changes in systems like what we see in America. Otherwise if they wanted to "make America great again" for real, they would have changed the corrupt system instead of trying to install this old man or that old man into office every 4 year into the same broken system.

[BlackHatCoiner]

The creation of digital currencies by central banks is only a logical move to modernize finance, given that everything is being digitized anyway.

Doesn't seem to me like modernization. As said by pooya, we already have banking apps, which are designed to be used by the dumbest. A central bank's job, at least as far as I understand neo-liberalism, is to control the extent to which banks can manipulate interest rates. The central bank of the EU is supposed to regulate and ensure the integrity of the banks, rather than introduce an app that circumvents their authority. It is an abrupt departure from their usual responsibilities.

I'd say the real question voters should ask themselves is why should their choices be between Biden and Trump anyway? Two elderly men who don't know what they're doing half the time.

And? It's not them who really make the decisions, it's the representatives of each political party. To me, the presidents are rather just an image needed to present the parties in the media.

[EluguHcman]

Everything he said could on lies on his political ambition.
It is always easier to say than to do so, all that he has said could be a strategy to secure his mandates.
Literarily that could all be campaign speeches to win the publics minds basically for his political interests.

[pooya87]

And? It's not them who really make the decisions, it's the representatives of each political party. To me, the presidents are rather just an image needed to present the parties in the media.

As the commander in chief, the POTUS does a lot more than just "represent a party"!
Besides, other parts of the US government are no better like the US congress. There are fossils in there are even worse than Biden and Trump combined. Some of them can no longer stand up or speak.
Here is one example: https://www.wsj.com/video/watch-mitch-mcconnell-freezes-while-taking-questions-from-media/7A2694C9-CFE0-4B43-907B-55CBD7DC4FE9

[cryptosize]

Trump cannot stop CBDC, nor go against FED's wishes, unless he wants to have JFK's fate.

CBDC will come around 2026-2027 with Taiwan's invasion by China.

The collective West will impose sanctions on Made in China products (most solar panels are made there), Weimar-style hyperinflation will kick in and will destroy all fiat currencies (USD, EUR, GBP, CHF etc.)

That will be the perfect opportunity to introduce CBDC as a "New Deal" for the economy, along with erasing public/private debts (which also means all public/private property will be confiscated as a compensation).

Feel free to bookmark/screenshot this post for future reference.

As for my opinion, I don't really see any difference between CBDC and what we already have with digital banking! It is exactly the same as far as the end user is concerned (centralized with full surveillance and user having 0 control).

Not true.

The current fiat money doesn't have: 1) social credit score (see China/e-CNY), 2) carbon credits (which will limit your red meat/gasoline consumption due to climate change).

It could get even worse than that... with Digital ID (soon to be launced in EU) and the next pandemic (Disease X) they could also restrict your movement if you don't take the mRNA vaccines and even fine you in your CBDC wallet automatically.

No offense, but I'm flabbergasted when I see Bitcoiners (let alone old timers!) being totally oblivious regarding CBDC dangers.

I consider Bitcoiners highly educated in economics/freedom/politics, but maybe I'm wrong...

[sokani]

Tonight, I am also making another promise to protect Americans from government tyranny,

As your president, I will never allow the creation of a central bank digital currency.

Such a currency would give a federal government, our federal government, the absolute control over your money,

They could take your money. You wouldn’t even know it was gone. This would be a dangerous threat to freedom.

But do you think this is a smart move of him or you still prefer the use of digital dollar?
Do you agree with him to not allow the creation of CBDC or you just don't care about this?
I know that it is non of my business but I just want to know, is there really a need to create CBDC?

I want to hear your thoughts on this as it might happen to any country in the world anytime.

One thing I know is that a politician would say anything just to buy your heart and get your vote, the moment he occupies the office, he'd turn a blind eye and pretend he never said anything. Fiat is a tool for the government to exert control over the people, but CBDC comes with an increased surveillance of your financial activities and a threat to privacy. The government knows this and thankfully some of us know this too. Spilling out this secret does not mean Donald Trump has our best interest.

[kryptqnick]

Trump can be against CBDCs, but he isn't pro-Bitcoin, and he is very pro-USD. What he's saying about a CBDC is something that should appeal to his supporters and seems to align with the value of freedom (viewed as a limitation of the authorities overseeing things), which is something Republicans heavily rely on. But the USD is also fully under the control of authorities, so being against CBDC which being so pro-fiat is a manipulative and incoherent position. I'm happy to see that many people around here can look beyond what he's saying and focus on the reason he's saying that.

[Dunamisx]

I don't even know which is worst between CBDC and altcoins, we cannot give it a take that everyone will admit the fact that digital fiat were as acceptable as the way the government perceived them to be, the people truly needs bitcoin and not any other forms of digital currency, this is the way we should see how cryptocurrency had come in place to give us alternative to financial currencies by offering us bitcoin, so it won't be a surprise seing some people accepting it while some going against it, but CBDC is never a better idea over crypto.

[Lucius]

~snip~
Even right now we are probably in the control system of the government and at least Bitcoin and it's decentralized system is the remedy for us. Some times I use to tell myself that Satoshi Nakamoto was one of the people who learnt that the government is in control of citizens lives that's why he decide to fight them anonymously with Bitcoin as decentralized currency.

From the idea of a decentralized cryptocurrency to having ETFs and companies buying and holding hundreds of thousands of Bitcoins, I wonder what Satoshi thinks about all of this if he is still alive. The idea was good (and still is), but most people today use Bitcoin as an investment, not as a currency.

However, you should know that cash will not disappear overnight and that the transition period will probably last several tens of years, except in countries like China where people are not asked for anything anyway and have to agree to everything that is asked of them.

I think that Chinese model will soon be implemented in so called democratic western countries because it's the perfect model to control people for a very long period of time.

I think that such a model (if we are only talking about CBDC) will not be so easily implemented in Western countries because people still have some influence on politicians and their decisions, although there are always indirect ways to achieve goals, especially if you have the tools of the system and unlimited resources with which you finance everything.

Chinese models of controlling the masses have gone much further than finance, and include massive electronic surveillance of every individual - so you can get penalty points for practically everything you do wrong according to the CP - and those penalty points can prevent you from using public transport or anything other that the government controls.

[NeuroticFish]

the voters should take into account what is important for them and whether it was done in the previous mandate or not, not the lies from campaign.

I'd say the real question voters should ask themselves is why should their choices be between Biden and Trump anyway? Two elderly men who don't know what they're doing half the time. Can't they really come up with anybody better in a country with 330+ million?!!!

The reason is simple; people are too "lulled" to do anything, which is why nothing changes in systems like what we see in America. Otherwise if they wanted to "make America great again" for real, they would have changed the corrupt system instead of trying to install this old man or that old man into office every 4 year into the same broken system.

This problem is there in pretty much all democracies. You have the right to vote, but you don't really have any proper choices to actually vote well.
And then yes, the equation comes down to two elderly men and very few others that actually don't stand a chance because their campaigns are underfunded and people don't get to hear about them.
Plus, a president has pretty limited powers actually...

However, you've missed my point, so I'll explain it better: did Trump done anything good for the (specific) voters? did Biden do? If so, there's some ground for a second chance for them. No? Then give a serious look to the other competitors.

[Antotena]

Source: https://thehill.com/business/4416139-trump-vows-to-block-creation-of-digital-dollar/

I think President Trump is correct about the possible control of the government on your funds as Americans and we all know that. People anywhere in the world wants privacy and full control of their funds that is why they invested on decentralized assets rather than having something like the CBDC.

But do you think this is a smart move of him or you still prefer the use of digital dollar?
Do you agree with him to not allow the creation of CBDC or you just don't care about this?
I know that it is non of my business but I just want to know, is there really a need to create CBDC?

I want to hear your thoughts on this as it might happen to any country in the world anytime.

Trump is a demented candidate that want power by all means, he knew the hate towards the CBDC idea and he is using that stylishly to campaign for his own selfish interest. What more will politicians use to fool the people. It's possible that he might even get there and his sense of reasoning towards CBDC will change or even modernized it to suit their own interests and not the people again.

I have read many places Trump has been anti Bitcoin when he was the President of United States for good four years and Biden use that to campaign for his election and he won but today, has he fulfilled the promise he maid for people? No! It was under his watch Gery Gensler played everyone with Bitcoin ETF and no special investigations was done on SEC for such rug manipulation. You know what? Believe politicians at your own peril.

[cryptosize]

I think that such a model (if we are only talking about CBDC) will not be so easily implemented in Western countries because people still have some influence on politicians and their decisions, although there are always indirect ways to achieve goals, especially if you have the tools of the system and unlimited resources with which you finance everything.

Chinese models of controlling the masses have gone much further than finance, and include massive electronic surveillance of every individual - so you can get penalty points for practically everything you do wrong according to the CP - and those penalty points can prevent you from using public transport or anything other that the government controls.

If someone had told you 5 years ago about mandatory lockdowns/masks/vaccines, chances are you would have dismissed it as "too authoritarian, this can only happen in China".

Give it some time and we'll see (I sincerely hope you're right and I'm wrong)...

[pooya87]

It could get even worse than that... with Digital ID (soon to be launced in EU) and the next pandemic (Disease X) they could also restrict your movement if you don't take the mRNA vaccines and even fine you in your CBDC wallet automatically.

Have you forgotten a couple of years ago Canadian authorities shut down people's bank accounts and sized all their money just because they refused to be jabbed by the unknown vaccines? Canada doesn't have any CBDC yet but they did the thing you explained very easily.

However, you've missed my point, so I'll explain it better: did Trump done anything good for the (specific) voters? did Biden do? If so, there's some ground for a second chance for them. No? Then give a serious look to the other competitors.

But all presidents do at least something good for some voters in their term. The damage they cause is the reason why there needs to be an alternative.
Lest we forget, Trump was the only POTUS (as far as I know) who was stripped of all his powers by the chairman of joint chief of staff before his term ended. Since as general Mark Alexander Milley said and I quote he feared Trump would pull a "Reichstag moment". That is when Hitler cemented absolute power for himself by burning down the parliamentary building amid street terror. Note that this was said months before Trump incited violence that led to people raiding the Capitol building!

[cryptosize]

It could get even worse than that... with Digital ID (soon to be launced in EU) and the next pandemic (Disease X) they could also restrict your movement if you don't take the mRNA vaccines and even fine you in your CBDC wallet automatically.

Have you forgotten a couple of years ago Canadian authorities shut down people's bank accounts and sized all their money just because they refused to be jabbed by the unknown vaccines? Canada doesn't have any CBDC yet but they did the thing you explained very easily.

Canada still has physical cash (CAD). It's not mandatory to have a bank account to use fiat money. It's optional. With CBDC you will be forced to install a mobile app from the central bank (FED, ECB etc.)

Do they have social credit score and carbon credits? How can you implement those with physical cash? You evaded this question for some strange reason.