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>I'm just of the opinion that whatever next steady state situation we might find out on the other end of a crypto-world isn't necessarily going to be better, or

>I'm just of the opinion that whatever next steady state situation we might find out on the other end of a crypto-world isn't necessarily going to be better, or relatively better enough. Oh is that so? Curious that governments are now basically salivating and trying to copy cryptocurrencies for their own CBCDs but stripping it from everything that prevents them from having full domination over their respective populations. >The more I see crypto come up, the more I become convinced that actually, perhaps it's for the best after all that the government controls the financial sector. Human in the loop sort of idea. Based on what evidence? Your inference is so backwards, because all of these fiascos have one thing in common: the human in the loop. No one can ever tell me that a biased human could do a better job than an auditable open-source smart contract refined by thousands of diverse engineers that work together to create credibly neutral infrastructure transparent and verifiable by anyone. Luddites may disagree.

imtringued 4y ago
I haven't seen any government want to use blockhains or anything decentralized for their CDBCs. They are not a copy of cryptocurrencies. There are countries that issued their own cryptocurrencies and it didn't really work out. It is more appropriate to consider CDBCs to be the digital equivalent to cash. A database at the fed isn't really equivalent to cash so there have been attempts like GNU Taler to build a cash like system.
- jedimind 4y ago
  >I haven't seen any government want to use blockhains or anything decentralized for their CDBCs. They are not a copy of cryptocurrencies. Wrong, they are. Just because you haven't seen or studied it, doesn't mean it isn't so: The United Kingdom wants CBDCs[0] for a while now and guess who is helping them in developing those technologies? Blockchain companies, because CBDCs are heavily inspired by prominent blockchains and their innovation of programmable money. So please read correctly what I've actually written "to copy cryptocurrencies for their own CBCDs but stripping it from everything that prevents them from having full domination* over their respective populations" - Of course they would not want to copy the decentralization property because they want to maximize their power. governments only want to copy those properties which help them in that regard as I already explained. >There are countries that issued their own cryptocurrencies and it didn't really work out. So what? Cryptocurrencies are not a miracle cure that will fix a broken economy. We have already seen what every nation on the planet does when they can arbitrarily print money out of thin air, they abuse it, every single one of them. Cryptocurrencies can only help a nation that actually wants to act rationally and is not corrupt to the core. >It is more appropriate to consider CDBCs to be the digital equivalent to cash. Wrong. Cash is anonymous, which governments do not like at all, that's exactly the reason why CBDCs are the authoritarian ruler's dream tool. It gives them full control via programmability, eliminates privacy and establishes a surveillance capitalist dystopia. [0] https://www.youtube.com/watch?v=0u8eZcPnWeU https://www.youtube.com/watch?v=0u8eZcPnWeU
AYBABTME 4y ago
"Luddites may disagree" aka "whoever disagrees must be a $this". You seem to have a lot unuanced, inflexible and strongly held beliefs about this all. Perhaps consider if there's space for a world in which cryptocurrencies aren't a silver bullet.
- deleted 4y ago
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- jedimind 4y ago
  >You seem to have a lot unuanced, inflexible and strongly held beliefs about this all. Peak projection. At least I provided arguments based on evidence, while you just stated your opinion which clearly ignores any evidence of corruption and abuse of power from the early history of (central) banking up until now. >Perhaps consider if there's space for a world in which cryptocurrencies aren't a silver bullet. Never claimed them to be silver bullets, don't put words in my mouth. Maybe you should consider a world in which you are not blind to the continuous and boundless abuses of power by (central) banks and proponents of fiat who benefit from this broken system.

imtringued 4y ago

I haven't seen any government want to use blockhains or anything decentralized for their CDBCs. They are not a copy of cryptocurrencies. There are countries that issued their own cryptocurrencies and it didn't really work out. It is more appropriate to consider CDBCs to be the digital equivalent to cash. A database at the fed isn't really equivalent to cash so there have been attempts like GNU Taler to build a cash like system.

jedimind 4y ago
>I haven't seen any government want to use blockhains or anything decentralized for their CDBCs. They are not a copy of cryptocurrencies. Wrong, they are. Just because you haven't seen or studied it, doesn't mean it isn't so: The United Kingdom wants CBDCs[0] for a while now and guess who is helping them in developing those technologies? Blockchain companies, because CBDCs are heavily inspired by prominent blockchains and their innovation of programmable money. So please read correctly what I've actually written "to copy cryptocurrencies for their own CBCDs but stripping it from everything that prevents them from having full domination* over their respective populations" - Of course they would not want to copy the decentralization property because they want to maximize their power. governments only want to copy those properties which help them in that regard as I already explained. >There are countries that issued their own cryptocurrencies and it didn't really work out. So what? Cryptocurrencies are not a miracle cure that will fix a broken economy. We have already seen what every nation on the planet does when they can arbitrarily print money out of thin air, they abuse it, every single one of them. Cryptocurrencies can only help a nation that actually wants to act rationally and is not corrupt to the core. >It is more appropriate to consider CDBCs to be the digital equivalent to cash. Wrong. Cash is anonymous, which governments do not like at all, that's exactly the reason why CBDCs are the authoritarian ruler's dream tool. It gives them full control via programmability, eliminates privacy and establishes a surveillance capitalist dystopia. [0] https://www.youtube.com/watch?v=0u8eZcPnWeU https://www.youtube.com/watch?v=0u8eZcPnWeU

AYBABTME 4y ago

"Luddites may disagree" aka "whoever disagrees must be a $this". You seem to have a lot unuanced, inflexible and strongly held beliefs about this all. Perhaps consider if there's space for a world in which cryptocurrencies aren't a silver bullet.

deleted 4y ago
[deleted]
jedimind 4y ago
>You seem to have a lot unuanced, inflexible and strongly held beliefs about this all. Peak projection. At least I provided arguments based on evidence, while you just stated your opinion which clearly ignores any evidence of corruption and abuse of power from the early history of (central) banking up until now. >Perhaps consider if there's space for a world in which cryptocurrencies aren't a silver bullet. Never claimed them to be silver bullets, don't put words in my mouth. Maybe you should consider a world in which you are not blind to the continuous and boundless abuses of power by (central) banks and proponents of fiat who benefit from this broken system.