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Replying to Avatar šŸ¦ŠšŸ”«šŸ„©šŸ“ā€ā˜ ļøāš”

CBDCs are dead on arrival. Society has never moved from a more saleable money, to one less saleable.

Thought experiment: a CBDC is soft implemented - no restrictions etc…as soon as it is ā€œprogrammedā€ to not be able to be used for X, it immediately and perpetually trades at a discount to other money.

The most productive people will demand to be paid in something else. I can’t imagine a CBDC surviving for long, and ushering in a technocratic slave state.

If the money can’t buy what you want, it isn’t money, no matter the ā€œdecreeā€ of governments. Venezuelans know this, and use cinder blocks as money, preferentially to government dogshit.

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Efrat Fenigson 1y ago

I hope you’re right!

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