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A comment on Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers. Parent comment

Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by Yhippa on Thursday October 06, 2022 @03:06PM (#33112585)
> When the USA starts issuing it's own crypto they might solve this problem by requiring KYC to get the coins, but then of course you loose the anonymity aspect.

In my mind the advantage for a US Government-backed crypto is the violence you mentioned above and convenience/traceability. The loss of anonymity I'm sure is a feature to them, not a bug.

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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by thoughtful-p on Thursday October 06, 2022 @10:54PM (#33116920)
It absolutely is.

Anyone remember the Clipper Chip[1]? CBDC's are literally that but for finance.

Being able to see who is sending money to whom is incredible valuable (even without the ability to manipulate that money, which is worth even more) - remember how much the US intelligence community values metadata.

Sure, the US government has a large amount of insight into financial transactions now, but there's a difference between "a lot" and "literally all of it".

People here seem quite comfortable with the idea of giving their own government the Clipper Chip for finance - are they so quick to forget the lessons of history?

[1] https://en.wikipedia.org/wiki/Clipper_chip

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