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I don’t get what are these “digital dollars” supposed to do. There already is a digital dollar. It’s called “dollar”.

UltraViolence 4y ago
They're an alternative to Bitcoin, whilst at the same time guaranteeing government oversight and control of the money supply. Money == power. Alternative currency not created and vetted by the government will mean a loss of power for the politicians.
ronsor 4y ago
It's a scheme to give the government more control over your money than they already have.
- asah 4y ago
  ...which IMHO isn't necessarily a bad thing. Here me out: - you're already at the mercy of the "guys with guys" and the judges who direct them. - central banks struggle to get timely complete information to make decisions. CBDCs offer a path to finally fixing this. - central banks are very limited in what they can do today and in particular can't pop individual asset bubbles without cratering the economy. CBDCs offer a path to finally fixing this. I know the crypto libertarians simply hate the govt, but frankly I love the (US) government: - military that's reasonably competent (vs random warlords trashing everything) - airports, roads, subways and infrastructure (vs every man for himself?!) - air, water, food, etc that's reasonably clean (vs actually being poisoned or living in bubble?!) The list goes on, but you get the idea.
- lxgr 4y ago
  Arguably it would only make the implicit control governments already have more explicit and transparent. Personally, rather than having obscure scores and lists in the background preventing people from getting banked with next to no recourse in case of mixups, I'd appreciate a public alternative, if only as an experiment and to encourage the banking industry to innovate a bit. There are very interesting technologies being developed in this space as well, e.g. Taler offering one-sided anonymity for payments.

They're an alternative to Bitcoin, whilst at the same time guaranteeing government oversight and control of the money supply. Money == power. Alternative currency not created and vetted by the government will mean a loss of power for the politicians.

ronsor 4y ago

It's a scheme to give the government more control over your money than they already have.

asah 4y ago
...which IMHO isn't necessarily a bad thing. Here me out: - you're already at the mercy of the "guys with guys" and the judges who direct them. - central banks struggle to get timely complete information to make decisions. CBDCs offer a path to finally fixing this. - central banks are very limited in what they can do today and in particular can't pop individual asset bubbles without cratering the economy. CBDCs offer a path to finally fixing this. I know the crypto libertarians simply hate the govt, but frankly I love the (US) government: - military that's reasonably competent (vs random warlords trashing everything) - airports, roads, subways and infrastructure (vs every man for himself?!) - air, water, food, etc that's reasonably clean (vs actually being poisoned or living in bubble?!) The list goes on, but you get the idea.
lxgr 4y ago
Arguably it would only make the implicit control governments already have more explicit and transparent. Personally, rather than having obscure scores and lists in the background preventing people from getting banked with next to no recourse in case of mixups, I'd appreciate a public alternative, if only as an experiment and to encourage the banking industry to innovate a bit. There are very interesting technologies being developed in this space as well, e.g. Taler offering one-sided anonymity for payments.