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But you won't have the option of cash, the Fed getting into digital currency implies an all-digital future. No cash, and everything is traced. Nobody gets to
by EMM_386 4y ago
But you won't have the option of cash, the Fed getting into digital currency implies an all-digital future.
No cash, and everything is traced. Nobody gets to be "paid under the table", no exchanging cash with your dealer for drugs, no buying things you may be ashmed to buy with cash.
- humanistbot 4y ago> But you won't have the option of cash, the Fed getting into digital currency implies an all-digital future. That is quite a leap in logic, or "implies" is doing a lot of work in that sentence.
- gerad 4y agoHistorical precedent, and the fact that most of world trade is now dollarized, means that it’s incredibly unlikely that the US will ever deprecate cash. Unlike other currencies, all US currency ever issued remains legal tender [1]. Honestly, if you want untraceable transactions - using US cash is going to be way better than any digital currency. 1: https://www.federalreserve.gov/faqs/currency_12768.htm https://www.federalreserve.gov/faqs/currency_12768.htm
- giaour 4y agoI don’t know how you made the leap from “digital currencies will exist” to “non-digital currencies will cease to exist.” Even if that were to happen, you could still get paid under the table will gold, gemstones, bushels of corn, pallets of durable goods, etc. meatspace won’t simply end when a central bank issues a digital currency.