The Fed released a paper outlining pros and cons of a “digital dollar”

Re:The Fed released a paper outlining pros and cons of a “di... by logicalmonster on Monday March 07, 2022 @05:45PM (#30594366)

At this point, does anybody need to give any extra reason for why they can't trust this government or why it's a bad idea to give them power that can be abused so easily?

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Re:The Fed released a paper outlining pros and cons of a “di... by wpietri on Monday March 07, 2022 @08:43PM (#30595541)

If that's your view, then there's no reason not to do a CBDC, as bad actors already have access to all the data.

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Re:The Fed released a paper outlining pros and cons of a “di... by logicalmonster on Monday March 07, 2022 @09:14PM (#30595719)

I don't think we'll agree, but I would respond with this in conclusion.

1) Even assuming they get all bank data (which can be assumed, but is uncertain) they don't get access to physical cash data, which might also be phased out in the event of a national digital currency.

2) Nothing about your comment addresses my concern about government power.

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Re:The Fed released a paper outlining pros and cons of a “di... by wpietri on Monday March 07, 2022 @11:29PM (#30596461)

There's no particular reason to think a cash phaseout is more likely one way or the other. CBDCs won't change the consumer experience.

I think concern about government power is valid and important. Which is why I think it's vital to save talking about it where there's actually a material difference in government power. I don't think it is here, and you haven't given any reason why it would be.

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