Posted on 05/24/2021 7:22:22 AM PDT by PPSman
Whoa that’s deep, thanks for posting.
—”I, for one, am all-in.”
Just like old uncle Clyde a very successful businessman.
When he passed there were substantial tangible assets, but they could not locate much in the way of cash?
He never told a soul about his crypto coin accounts.
China Creates Its Own Digital Currency, a First for Major Economy
When bitcoin launched in 2009, most nations’ policy makers largely played down its significance. China paid attention.
A cyber yuan stands to give Beijing power to track spending in real time, plus money that isn’t linked to the dollar-dominated global financial system
China has indicated the digital yuan will circulate alongside bills and coins for some time. Bankers and other analysts say Beijing aims to digitize all of its money eventually. Beijing hasn’t addressed that.
Digitized money looks like a potential macroeconomic dream tool for the issuing government, usable to track people’s spending in real time, speed relief to disaster victims or flag criminal activity. With it, Beijing stands to gain vast new powers to tighten President Xi Jinping’s authoritarian rule.
The money itself is programmable. Beijing has tested expiration dates to encourage users to spend it quickly, for times when the economy needs a jump start.
While U.S. regulators focused on stopping Facebook, ultimately succeeding, China accelerated its pursuit of a digitized yuan, launching trials in April 2020.
“Federal Reserve to Partner With MIT in Testing a Central Bank Digital Currency”
we already have a digital currency: it’s called the “dollar” ...
How would I keep the digital currency in my gun safe along with cash and gold?
> How would I keep the digital currency in my gun safe along with cash and gold? <
No worries. You will be given a password. Keep that password in your safe.
And if for some reason the Fed decides to erase your account and disable your password, again no worries. Just write your Congressman a letter. That should set everything right.
This makes no sense in that the existing currency can already be used as a digital currency. It happens every day.
OH but if they could completely do away with cash. Then we would have that cashless society that officials long for. Complete control. I think that is what this is really about.
You will receive what they feel you need, everything else you own or earn will go to the greater cause, those who are lazy and useless
The advantage of a cryptocurrency is if the dollar crashes and burns it’s a safe haven.
Seems to me that Bitcoin has gone down substantially over past couple weeks—and there was no dollar crash. So how does Crypto retain its value in a crash?
Sincerely want to understand this.
Thanks!
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