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Unless it comes with safeguards regarding anonymity and protection from seizure, I feel that this will give the government too much power and surveillance. Wha
by cherrycherry98 5y ago
Unless it comes with safeguards regarding anonymity and protection from seizure, I feel that this will give the government too much power and surveillance. What will prevent the government from holding individuals accountable for making transactions deemed immoral or dangerous? It seems all you have to do is characterize a movement as terrorism and you can seize assets at will.
A world with physical currency has a builtin "privacy mode" in that you can conduct business just using notes and keep it in notes.
The US stopped printing notes larger than $100 in 1969. That $100 note in 1969 had the buying power of roughly $780 today due to inflation. I think it's well past due that the government print larger notes, allowing more economic freedom, but I understand why they don't. Even a $500 note doesn't bring us back to cash buying power parity with 1969.