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When it's digitally created by the central bank, it gives total control to the central bank.

The threat is not that it's digital, we already have that. It's that it becomes programmable with it.

Imagine a money whereby your access to it can be turned off. Where negative interest rates can be issued instantly and personally to individuals based on behaviour.

It's a totalitarian's wet dream and Bitcoin is the antithesis.

Andy 3w ago 💬 1

It gives total transparency on what you earn and what you spend it on. Even if you lend money to a friend that would be visible - which isn’t necessarily the case with cash.

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Discussion

Stjepan 3w ago

CBDC does not have effect on a cash. If they wanted, they would outlaw cash without CBDC and they could track money around in current sytem. If tracking money is a goal, they already can do it. They don't need CBDC for that.

Some EU countries are extremely low on cash transactions anyway and some are on their way to remove cash CBDC or not.

I must say again....i heard a lot of "they will" and "they could" scenarios and not a single one is something they can not do in current system.

Tracking, can

Programable money, can

Blocking you from spending, can

Setting arbitrary limits for whatever reason they want, can