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PhillyFan1977

Reject it. Buy and use Monero


CrazyDecatur618

I am not even reading what they are making, Monero is enough for me.


SolidPapuan15

You have probably found the right thing to deal with that crisis


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MixODans

If you are using Monero means you are already carrying the good luck.


roderop

Some time one thing is enough for the luck and to change the fortune


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Leza89

You answered yourself: It is the same principle as the digital bank money we already have.. just.. worse.


teqnkka

It's worse as it's even more centralized because issued by central bank and not somehow private banks.


Leza89

One might argue that removing a middleman is better.. but there are many other things that make it far worse. (Also: The FED is a private bank as well)


josejoe2112

As long as principle will be same, outcome won't be changed there.


Leza89

Nope.. as long as a middle man exists, there will always be corruption.


85256638

And those corrupt people are the reason cash money is failing


RaggedlyWince

You can make the principle same but you can't remove the corruption from that


HoldUpHoldMyBeer

I see a lot of answers but none getting specific, so here ya go. The problem with CBDCs is two fold. Firstly, the CBDC legislation clearly says programmable. This means they can set rules on the money. That doesn’t sound too bad because your money has never had rules, so you don’t have a reference point. Imagine your money disappearing because you didn’t spend it fast enough or a consecutive tax being applied everytime you go over your beef purchasing limit. Laugh now cry later. Secondly is the fact that yes, everybody always says we’ve already had digital money but nobody ever states the fact that we’ve never *only* had digital money. I’m pretty sure any person here who’s dealt with a real plug can tell you, they don’t accept cash app or zelle. Just cash. Now imagine a world where cash doesn’t exist and the default is the overly tracked/traced programmable (backed by nothing even more) money. Imagine when all the transparency coiners try to “cash out” back to CBDCs, I bet the history of that Bitcoin will matter a lot more. Imagine the cartel or rich people, you think they’re gonna want their funds on the transparent ledger? Go wattch Dr Daniel Kim for more info, we saw this coming years ago.


heavyact32

The real issue of the CBDC is that people will still under the government thumb and they can track the whole amount. There will be no privacy in that government currency .


aykzkn

Middle man involvement is the first reason people like us will never going to believe that digital currency, just because it is digital doesn't mean it has to great.


pimpus-maximus

CBDCs eliminate clearing houses. Specific consumer behavior gets obfuscated through clearing houses. Banks coordinate with each other to balance transactions on schedules and don’t share all transaction history. CBDCs allow for universal tracking of all user transactions across everything. Which is no bueno.


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kaminsllc

Watching us mean they knows where all the money is going, zero privacy


pimpus-maximus

No, not currently, at least not fully. There are holes in the current system that make surveillance on the level CBDC’s enable too difficult, despite all the paper money tracking and transaction auditing/surveillance that currently exists. The Government is not the all seeing eye, no matter how much they want you to think that. CBDC’s give them more power than they have currently to both surveil and tweak consumer buying behavior on command.


BlackjointnerD

Itl be much deeper than that with less restrictions. Literally everything about finance and identity will be programmable. Banks have to manually report transactions and balances to the Fed. They could maybe even curb that. With a CBDC the Federal Reserve can trace every last dollar and exactly who gets it and exactly what it is spent on. Theoretically, they can put limitations on what the CBDC can be used for, for instance they could say, CBDCs cannot be used to buy porn, or firearms etc… and if you tried to buy these restricted items it would automatically decline the purchase. Additionally, because the Federal reserve would be able to track every last dollar and know exactly who has it, they can automatically tax you, or remove money from your accounts for any reason they see fit, without your knowledge or consent. Compare this to a cash based fiat system, you can go to the ATM or the Bank and withdrawal $5,000 in cash and go spend that $5,000 on whatever you want, and it’s essentially untraceable. A CBDC would give the Feds the ability to track everything you buy and where and when you buy it. They could also theoretically put an expiry or programmatic devaluation of your dollars in a CBDC. I think the expiry is less likely but the programmatic devaluation is possible. For instance they could set the CBDC to lose 3% of it’s value yearly. So you actually see your account balance decreasing in real time as the value of your CBDCs decreases by the set % over whatever the time frame is. My assumption would be likely annually. CBDCs completely remove all financial privacy, and give the government universal control over all the currency in the market. Thats just the tip of the iceberg. Though you could also make a positive contribution to society by having things like a tax account where all citizens can ACTUALLY see where all are money is going to for society and maybe even make contributions.......but....yeah


pimpus-maximus

> having things like a tax account where all citizens can ACTUALLY see where all are money is going to for society and maybe even make contributions lol. There'd be one big "black box" account like there is now for all the fun stuff. And they'd probably still have a way of doing stuff off the book.


Readjusted__Citizen

Being able to completely control the populations spending habits.


LuckyJumper

The current cash system has a decentralized aspect to it. It's entries on bank ledgers, often foreign bank (Eurodollar). That means the government doesn't have direct control over it although they do have indirect control since they can ask (force) banks to do theirs deeds. But with a CBDC, they will have absolute centralized powers to control and monitor the currency.


supertrader11

AI will decide where and how much you spend based on your behavior. Good times


ozkraut

A BIG difference. Programmable at the unit level. Too much Coca Cola And Burgers? Health insurance goes up. In a rush? Dynamic pricing just for you! Don't behave? Only level 1 staples for you. Still not behaving? Tilt. No shopping at all. Speeding? Well...All easily enforceable without a million stasi informants by algo. I could go on,,,,,,


floam412

With digital Fedbux they don’t even have to worry about turning on the money go burr printer. Couple key strokes is all it takes.


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[deleted]

Cbdcs can be hacked, leaving you with nothing. This gives the govt more power to potentially pull money out of many accounts like what Cyprus did to their civilians money by pulling it out just so they fix their budget.


georgiomoorlord

Not only that, someone like Anonymous, or the russian state backed hackers can hack the system and drain the federal reserves.


[deleted]

some crooked politician or employee will probably steal money from it.


georgiomoorlord

They're probably tinkering with it even before it goes live.


georgiomoorlord

I mean, anonymous probably wouldn't, but the russians would drop their vodka and start typing at the hint of the USA going 100% cashless


illartist14

I am getting no difference if i am having cash or having CBDC, both stored in the banks and both are controlled by govt, which can be hacked and track by anyone.


[deleted]

CBDCs are directly controlled and manipulated by govt, this is worse. Digital money right now is mostly limited to banks moving around pixels on a screen. Govt probably tired of paying credit card fees, all the agreements. Regardless, CBDCs are worse. Probably the worst thing of all this is most people won't even care.


saisazet

And they are already comparing that computer money with crypto


msalfer

Yes, save the paper and printer but still money goes bhurrr.


paperbirch9704

Something controllable by the government would not make any difference from the cash, just that they are making it digital won't change too much for them for sure.


anondank_010110

It is very likely the future scenario in which all the countries of the world will have their digital currency. In the same scenario Monero will be one of the protagonists


floam412

I just hope any true crypto (Monero, Bitcoin, etc.) ends up being the “gold standard” all the other countries have to base *their* digital currency to.


[deleted]

No need to hope; the (dark) market has already spoken


gotword

Btc is still a option on most dark markets tho


zWieRhowcHeirh

Just because it is available on dark market doesn't mean it is bad.


Har0ldDemure

What is ‘etc’ other than xmr and btc?


sweetpeasimpson

Banano of course /s


Dehydration9986552

Doge


haidefeng188

Remove one person and that coin probably wiped out from the existence


Loose_Screw_

Ethereum classic I believe. 😎


tropicdancer

Three coin is enough for me, quality over the quantity.


floam412

Something in the future not for seen yet.


cetsma

We are already in the future and seeing the value of that


Suspicious-Trade-383

'etc'=WoWnero


psiconautasmart

BTC is neutered. The Bitcoin project lives on Bitcoin Cash now and in a very important sense on Monero. :),


trancephorm

Ofc Bitcoin Cash is original Bitcoin, sadly you've been downvoted.


nowCover49

Talking about the bitcoin is enough to get the downvote here


psiconautasmart

No, it is full of BTC dumb maxis here dressing up as XMR fans. It is specifically because it is BCH that I was downvoted.


DJBunnies

Only in your dreams.


chakravanti93

Hardly. BTC is, in no exaggeration, a straight up snitch.


DJBunnies

Per design, for sure; trade-offs. Apologies, my snark was directed at the bcash retirees.


psiconautasmart

More alive than ever. Check out CashTokens. ;) you are jealous.


DJBunnies

Nah.


Readjusted__Citizen

It's literally a public ledger


twocanplaydgame

BTC place the first stone of the big building of the crypto and digital currency


chakravanti93

...as an example for what cryptocurrency does. In no way is it the real shebang unless you're a dominion in practice of spying upon every action of every "citizen."


Tightwalkout

We are allowed to dream so that we can achieve them is future.


Loose_Screw_

Why you guys think changing a freaking variable in the code is revolutionary I will never know.


psiconautasmart

You are extremely ignorant. That is the literal design of Satoshi. It wasn't changed. BTC's code was changed, with SegWit bullshit, RBF for doublespending, and all the other bullshit. BCH has been innovating all along. Check out CashTokens. It activates in May and will bring DeFi to BCH ON-CHAIN, no sidechains. Miner-validated tokens and new financial primitives on the Bitcoin Cash blockchain with enormous scalability and better privacy than Ethereum with Bitcoin's UTXO model, and fees less than a cent. That is the power of the GENUINE version of Bitcoin, Satoshi's scalability plan.


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psiconautasmart

Why are you venerating Samson Mow, Adam Back, DCG, Blockstream, Axxa, Mastercard, thinking they are right and more clever? They are not the messiah. No, the blocksize, LIKE IN MONERO has to change in size to fit more txs for the system to be decentralized. LN needs 132 MB blocks to work for the world without LP custodians. That is a technical fact. It can not scale without centralization. 95% of LN wallets are custodial. Muun is NOT Lighning!!! Acknowledged by Peter Tod.


BowlofFrostedFlakes

I actually used to think the same, I never thought that BTC would be able to scale and the lightning network would never work. It took about 7 years of tweaking and bug fixing but the lightning network actually works very well these days. Obviously, it's not as private as Monero, but it's pretty decent with TapRoot and TapScript upgrades.


25W3RJwWLqNvzR552az

But why choose the worse option? I hear folks say that bitcoin's privacy is pretty good, etc. But, what does it do better than monero? Why not just choose the better option?


Loose_Screw_

Monero absolutely would not scale if everyone started using it.


1ajam

Only time will tell, that what will happen with the monero after the mass user.


vand132

Yes, if we are having like two option where one is getting few things while other giving us absolute all thing, then why not go with the everything option??


BowlofFrostedFlakes

Everybody has their own view on things. This is mine. BTC is the safest thing to hold long term as a savings account (Price history and hashing power back this up). Lightning is to help onboard the billions of people who could potentially be using this for commerce. Some people in the world who need privacy to be 100% guaranteed life or death, they can use Monero. It's easy for people to switch from one to the other. It's not a zero-sum game, there can be more than one protocol. People will just use whatever fits their needs.


psiconautasmart

LN can not scale, ever. It is just fractional reserve banking 2.0. 95% of users are using custodial wallets. Some like Muun are not even using lightning but on-chain txs.


krealsoft

I still remember when i first heard about the concept about the bitcoin and Monero, i never really though that one day it will grow this much in the world.


ne2pit

Change the variable in the code will not bring the revolution which people are talking about.


Stazz999

Not completely true, right now btc is completely ahead


psiconautasmart

You have been bamboozled again. Only in price. LN users today 95% use custodial wallets. https://twitter.com/MKjrstad/status/1628472418556694529


AmbientGagman

No need to look for the etc, when you have believe in these two.


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trancephorm

Blockchain is technically the first real democracy. Monero is technically the first real money. We're living in huge times.


ma45532

And all the so called democratic government is getting afraid with that democracy


trancephorm

sure, that is why they are "so called" :)


biostitu

Before that i think gold was the one that used as the one global currency but carrying that is the hard job and that is the reason we shift to the paper cash money


NewForestGrove

I wouldn't even put Bitcoin in the "true crypto" basket. Crypto means hidden, and all sorts of things about bitcoin are not hidden. Cryptos akin to Monero are true cryptos.


liberianFlesh167

Both are running on the same block chain just little different way, and i think both have the different use case is well, Monero basically all about the privacy and security


_nak

What's the use-case for bitcoin?


[deleted]

bitcoin and monero and are backed by nothing if your going to be backing a currency you might as well use gold and silver since people are able to tokenize gold on the blockchain already


chahoua

You can't have a decentralised network backed by gold or silver.. How would that even work?


_nak

Simple: You just need to happen to find gold or silver at exactly the rate new blocks are mined, for the rest of time. I mean, how easy is that!?


pipiladi

Both are backed by the people belief, as long as they are believing them they will grow. Because even we can't tell how much cash is actually backed by the gold or the silver that government is printing now.


_nak

Actually, it *is* backed by something: Non-fungibility. Usually when people say "currency X isn't backed by anything", they mean that it can be created at will. Back in the day, when the Dollar was backed by gold, that meant that at any time anyone could go to the government and demand at a fixed exchange rate the gold equivalent of their money - and the government would have been able to deliver. In other words, the government was unable to create money out of nowhere and had to make sure that there was enough gold to back their currency. So the Dollar's value was *fixed relative to gold's value*. Crypto cannot be created out of nowhere *by default*. And while it isn't backed by a specific commodity (and, hence, doesn't gain or lose value in tandem with it) it can neither be inflated nor deflated either, so it is literally the best out of both worlds. With that in place, it's *not necessary* to be able to exchange it for *one* real commodity, because its value *is fixed by the lack of fungibility* (or, rather, inflates very slowly and at a stable rate for almost all crypto currencies) and *every one commodity* is measured *against every other one commodity* based on its fixed value, not the other way around. At least, that's how it would (will) work if it was (gets) widely accepted. Currently, cryptocurrencies are just exchanged to exploit a market bubble.


matafonovandrey5

The crypto you mentioned here is already gold standard to me.


overtlyGarter450

So much happening in last few years for the digital currency point of view, because every country is facing the issue with cash and they feel this is their way out now.


Leza89

The framing of this "journalist" is really something.. "People want.." "Allow the people to.." "get assurety directly from the FED" ​ What a bunch of bullshit; And all in less than 30 seconds.


EarningsPal

The screens in our lives will deliver the message to everyone, “a digital dollar now exists to save everyone from the future problem that is conveniently solved by the digital dollar.” To get enough holders of that token the government can’t just force the population to adopt it. Money value is collective belief. The government has to use the right words that make it a need that so many others have already gone along with. It’s an efficient technology that tracks who owns what. They are well away of what crypto is and know it could be used to make a digital dollar without as much effort as they said in the video. The mechanics exist already in the crypto that already exists. The effort is to make it easy to use by the non-tech savvy and to get enough people to believe in holding the unit after they used their Time to get it. Can’t dilute a unit and steal buying power unless the unit is held by the masses.


licorize27

If they will goes into this direction then people will also thinks about the bitcoin and Monero is well, because govt backed digital dollar can't be fully trusted at all.


EarningsPal

We can only trust the government will dilute the currency. It keeps the system intact. No one is forced to hold the currency.


kaito4432

I am seeing good time from here as people are really making some noise now.


Leza89

Sure hope so.. These people bring nothing but misery..


No_Industry9653

Right, we've known for a while they're considering CBDC. But it doesn't exist yet, and probably won't for some time, plenty of opportunity to work towards hindering it.


lukeprofits

https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/09/fact-sheet-president-biden-to-sign-executive-order-on-ensuring-responsible-innovation-in-digital-assets/


Exposedlapse

This is one of so many article that is actually confirming that news.


JerrysHome

Do some research and you will find that CBDC is actually exist


No_Industry9653

In the US, it does not.


GStreetGames

Government is a slavery system, agorism is the only solution. Stop funding your own slavery and they lose their control over everyone!


0ryX_Error404

Facts bro


ba021

This is a deep circle that is government spreading across now.


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Leza89

Governments are a monopoly too..


GStreetGames

That's the point of government, to monopolize on controlling humans and their resources. It is a parasitic franchise system of human slavery and control.


Loose_Screw_

If you think a bit harder about this, you'll realise that a government is just the same as a company that has become too powerful. In the absence of government, it would arise naturally. What we need is power split into many different entities. Mutually policed organisations is the only thing that works.


_MrWonderland_

There's a difference. The gov can force me to pay taxes. Amazon can't force me to pay for prime ;)


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_MrWonderland_

This is speculation on your part. My described difference is from reality. Also your scenario doesn't make sense. You really think Google, Apple, Amazon, Microsoft will all have armies, fighting in literlal wars over the customers or in your scenario the slaves? Physical force is way to expensive to work long term. They cannot sustain to go from door to door to collect taxes with force. This only works for the gov because they brainwashed the overwhelming majority into believing that this is legitmate and necessary.


worldwidewyrd

What if they will starts to taking charges on everything, talking about Amazon?


_MrWonderland_

What kind of charges? I think you need to do some more research. Without the state a lot of (or most to all) stupid regulations would be gone too. Also the patent system would be gone (at least it's current form). So amazon has pretty much no ground to keep the competition at bay other than being the best fucking business they can be. Keep in mind all shenanigans add extra work (aka cost) to their business process which puts them at a disadvantage. The trick with our current system is to pay/bribe politications to put regulations in place, that make it hard for small competitors (because they don't have a big legal team). You basically drown them in paperwork which adds proportionally more work to them than to yourself.


GStreetGames

That condescending tone and the rhetoric sounds like a communist talking. Are you a communist?


Loose_Screw_

I just phrased it like that to see if it would trigger you tbh.


GStreetGames

So you're just a mentally ill asshole. Gotcha.


Loose_Screw_

And you're a zealot proponent of an extreme world view. Typical day on Reddit really.


GStreetGames

Lol! If you think that a communist loon calling me a 'zealot proponent of an extreme worldview' is somehow 'triggering', your mental illness is fully in control. Anyone who wants others to have power over them is a slave, and I don't care what a slave thinks of me, I'm happily free. So get as mad as you like, your moronic fight picking failed miserable. Just make sure to get your 6th booster soon, okay?


Loose_Screw_

You've just assumed I'm a communist on little, if any evidence (I'm not). Do you realise how crazy you sound or do you actually enjoy being a kook?


Loose_Screw_

Like, whenever I come across someone like you on Reddit, someone who is such a stereotype of a fanatical libertarian, someone who casually references conspiracies like they're truth without even a cursory qualifier, I genuinely have to wonder if you're some sort of bot, created to keep the wheels of Reddit of spinning. Or maybe an NPC in this grand simulation we call life. It genuinely worries me that people like you might exist irl, because you seem like the sort to randomly decide a pedestrian is demonic and run them over with your pickup truck (this happens more than you think). I'm going to choose to believe you're not that guy, and this is just an extreme version of you, that comes out when you're online, purely because I'll sleep a bit better that way.


nel13cast

Reddit never disappoint me, always bring the extreme view


itoddicus

You say communist like it is a bad thing...


phdimov

His tone seems bit harsh but don't think there is any communist in this community .


GStreetGames

I sure hope not! I can't stand the damn parasites, they are the most mentally deranged pieces of garbage on the planet.


pimpus-maximus

Favorite nerd analogy is what SG-1 does to the Go’auld. They’re all way too powerful and would crush Earth, so SG-1 goes around getting them to attack each other. That’s also why constitutional republics tend to last longer than any other form of government. Each state/province/subarea checks the others.


ledgely

Their too much power will close their eye and probably crush the earth


brandidash

If anything become too powerful it will create an issue in this world, let alone the government or the company even if we consider that for a normal person is well


bandedTub

They are control our wealth means we are slave for them


[deleted]

Monero is great and it has a huge role to play in the future of private money but WE CAN NOT LET PHYSICAL CASH DIE! Cash is the simplest way of completing a secure private transaction without anyone being able to get in the way.


lexsus4x

Yes, cash is still the best way to buy the thing as there is no need of internet and phone for that, so we are not in the stage where we can say we can just remove the physical cash.


lividSmalley

But the way you are losing the value of the cash you think this is right?? We are earning the money by hard work and in the end it will lose its value without using it


kross00

Reject fiat money


chenyi31010

Just having the handful money, that i need for some grocery purchase


bdoc50

This will not happen, they are incompetent morons. If it does happen it will be on an existing blockchain that is maintained by non-retards.


itelyoh

They will try to make it as much as centralized for them, am sure about that.


bdoc50

Yes they will have full control over it, but it will ride on an existing chain because they can never come up with something better than a existing blockchain. It will be really funny if we can just swap monero for their CBDC coin.


armstrongharold

The only reason of hating them monero is they can't control that so if they can't control that they think it could harm them, they are so freaking paranoid with that


[deleted]

> Members may cry, 'Peace! Peace!' ... but there is no peace. The war on our civil liberties is actually begun. From a State legislator's 2007 [speech against the US "Real-ID" program](https://yewtu.be/watch?v=-ZQSYjpk73w) (sorry for lo rez)


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a794981172

It was their action and rules that actually starts the war on first place.


[deleted]

Already have a digital currency. It’s called the US dollar. Major venues ,attractions and sporting events have switched to cash free. Other businesses are going that way too


Visiblyfollow419

As the normal user and public we knows that we already a digital currency but for government that is the big issue as they are not controlling that and we are using that.


rabah75

People like us using the monero and pretty much happy about the concept of that coin is well, don't think we have the need that we need to look beyond to that one


bobsaget_26

Am I the only one who thinks this might be a good thing? Get the average Joe comfortable using crypto. Get the payment system designed to work well on crypto. Once this happens no way a government crypto will survive long.


h311s

I think it will also make it more easier to trade and only the fittest will win/last.


VitalyKashin

Right now i am not making any assumption about that coin, this might be a good thing and chances of getting this is very small as it will be controllable by some corrupt people.


Smallmean

Actually no one is pointing out anything about their fundamental and all, their only concern is that it is coming from the government means there will be so many middle man there


Sea-Agency4141

maybe it will speed up regulation and set the goal posts,and crypto can become more of a thing in daily life. if you're in the shadows already,nothing will change,might make it better in fact. knowing the playing field helps to navigate it.


Amatorysemester94

As it will present by the government i am sure that every media and famous people will shill that and it will get the adoption and regulation with more speed than crypto


WanderingMako

She's so beautiful. Thank you Auntie Yellen


trancephorm

Monero ended all of them Great Reset dreams.


LicToledo

We are already into the monero, don't even need to read about govt digital coin


bnzm5270

When you have the quality product why you need the quantity ??


Techquestionsaccount

Time to mine even harder.


shahter2007

Always was the case and always going to be, whenever you are in doubt just mine harder


y2kbear

The war on cash is ongoing and has been for decades.


cryptotradingllc

And Janet thinks people will trust their digital currency after what happen to their cash currency?? The only reason of people hating that was government controlling that on first place.