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What are dangers of a digital dollar?

‘The Monica Crowley’ podcast host Monica Crowley warns about the push to adopt a digital currency across the western world on ‘Kudlow.’

https://youtu.be/-oj_Sk6vrNU

#Bitcoin = #freedom was mentioned too although what they got wrong, IMHO, is going back to gold standard.

The issue I have with the gold standard, is the trust in the issuer, not to create more money than they can back up. This works, until it doesn't.

In Bitcoin, we all have the power to verify the supply at any time, no trust in central authority is necessary.

john galt 2y ago

Agreed. I believe in freedom, so why not having both?

If a bank wants to create its own token backed by gold in its vaults, ok.

If it “prints” more tokens the market washes the bank away.

If some people finds #gold backed tokens good, let them use it.

If people prefer #bitcoin, great! MONERO? Good!

The one thing that we should always be against is monopoly by force.

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Discussion

Relai Alex 2y ago

Is anyone forcing you into #Bitcoin?

Do you want to trust your bank they have enough gold to print the dollars? Enjoy. Do you want to hold your savings in a shitcoin, hardforking without notice? Enjoy too.

I prefer the absolute digital scarcity that can be verified anytime, without trusting third parties.