0 sats \ 2 replies \ @shyfire 16 Sep 2022 \ on: 🎪 The White House | Framework for Responsible Development of Digital Assets bitcoin
"A U.S. CBDC – a digital form of the U.S. dollar – has the potential to offer significant benefits. "
FUCK
Not an expert at all on CBDC (yawn), but I honestly don't understand why bitcoiners are so intimidated by a CBDC? It seems to me that it is just another closed network with dumb money. The main difference with the existing banking system is that it is run by a central bank rather than commercial banks. Other than that it would inherit all the Orwellian/authoritarian/kleptocratic properties from the existing system. None of that should be a threat to bitcoin.
It does seem a threat to physical cash, and that is scary. But even that is an opportunity to bitcoin.
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I do think there is a practical difference from a privacy perspective. Currently banks need to share any transaction above $10K with the IRS (government). With a CBDC the government will have access to every single transaction.
In my opinion though, the rollout of a CBDC in the US would accelerate Bitcoin adoption like you say for cash-like transactions. So I think ultimately launching a CBDC would be good for Bitcoin.
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