True, I do for about 80% of my routine purchases... but I also always carry a substantial amount of cash on me for more sensitive, private none-of-government's-business purchases.
That's great but what happens when hyperinflation hits? There's a functional limit to how much cash you can carry around with you. That goes for gold and silver as well.
Bitcoin changed the game because there is no central issuer, a hard supply limit, and is based on Proof of Work, not debt.
What gave Bitcoin its value? People exchanging debt for it. Fiat. The more federal reserve notes that got thrown at it, the more valuable it became. Debt literally backs it. Otherwise, Bitcoin itself is just a bunch of 1s and 0s 'printed' out of thing air. If anything, Bitcoin, and the concept of cryptocurrency as our standard currency, is globohomo. It allows the powers that be see and audit every last transaction. I personally see this as an infringement upon personal liberty. 'They' cannot do so totalitarianly currently with the current fiat system, but they're trying hard to get there.
Also, as wonderful as CBDC sounds to you, it is literally unconstitutional. If you want more on that, go read Article I, Section 8, Clause 5 then understand exactly what it means with the words they used and what those words meant then.
But.... DIGITAL currency? Um, no thanks.
We should all have choices. Trade in Ivermectin for me would be fine too. LOL
You already use digital currency if you use credit/debit cards.
True, I do for about 80% of my routine purchases... but I also always carry a substantial amount of cash on me for more sensitive, private none-of-government's-business purchases.
That's great but what happens when hyperinflation hits? There's a functional limit to how much cash you can carry around with you. That goes for gold and silver as well.
Credit cards are debt and debit cards use existing cash that stop working when there's no more cash to be spent.
The fact technology is used for transactions does not mean they're digital currency. The currency used is fiat; federal reserve notes.
All cash is debt. All fiat is debt, whether digital or physical.
Bitcoin changed the game because there is no central issuer, a hard supply limit, and is based on Proof of Work, not debt.
CBDC is the polar opposite of Bitcoin - no supply limit, one central issuer, no Proof of Work, and complete control over the entire system.
What gave Bitcoin its value? People exchanging debt for it. Fiat. The more federal reserve notes that got thrown at it, the more valuable it became. Debt literally backs it. Otherwise, Bitcoin itself is just a bunch of 1s and 0s 'printed' out of thing air. If anything, Bitcoin, and the concept of cryptocurrency as our standard currency, is globohomo. It allows the powers that be see and audit every last transaction. I personally see this as an infringement upon personal liberty. 'They' cannot do so totalitarianly currently with the current fiat system, but they're trying hard to get there.
Also, as wonderful as CBDC sounds to you, it is literally unconstitutional. If you want more on that, go read Article I, Section 8, Clause 5 then understand exactly what it means with the words they used and what those words meant then.