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Government controlled digital currency is the scariest thing anyone can imagine.

The government will have the ability to track, tax and discern every transaction made, if the transaction is allowed.

It'll be great at first. Every transaction everywhere will be allowed, and it'll be just the most convenient thing ever. People won't have to do taxes every year, because they'll be done transparently in real time. There will be great support for people who lose their phones or whatever (it will be contracted and ChatGPT-based, not employees of any government).

But then people will start to have transactions be declined...Only a few prominent people at first, and only the most extreme of thought criminals, but slowly, gradually...It will morph into the weapon of ultimate control over individuals from a faceless machine.

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Discussion

Earl Turner 2y ago

It also won't ever be government controlled directly, it'll be controlled by a private entity the government gives a legally binding monopoly to so that when people object to the policies of that entity the government can claim it's not the one responsible for those policies. That will be how they bypass the constitution while saving face.

nostr.build 2y ago

Good point.. And of course that private entity will never be compromised.