[rlmorel]

I don't know enough about cryptocurrency to be for or against it, but I feel VERY strongly opposed to digital currencies. I do know this: anything that has value which I cannot control either its place of storage or the methods of obtaining that value in the time and circumstances of my choosing, I don't trust.

And I don't think it should be trusted.

For me, it is encompassed in Natural Law by the concept of the "pursuit of happiness".

I have rights given to me by God. They are not rights given to me by Man.

That means that Man cannot take those rights from me. Only God can. If I agree that a Man or a Government gives me those rights, the corollary of that is that Man or Government can take them away from me.

At some level, I feel the same about wealth and property.

If I give complete control of access to my wealth or property to a Man or Government, they can take it away from me. If I have a gold coin in my hand, a Man or Government may make it difficult for me to have control of its value by denying me an avenue to convert it to food or shelter.

But it cannot have complete control of it.

With a cryptocurrency or a national/international digital currency they can control every single avenue of access to wealth with a click of a mouse.

• Didn't pay your taxes? Click. (well, they wouldn't just shut you off. They would take it. And shut you off to punish you.)
  
  
• Didn't pay your Child Support? Click.
  
  
• Didn't participate in the Census? Click.
  
  
• Wrote or said the wrong things to the wrong people? Click.
  
  
• Justly or unjustly accused of wrongdoing? Click.
  
  
• Hanging around with the "wrong" people? Click.
  
  
• Got a low social score because you didn't show up to "donate" your time to maintaining the town square? Click.
  
  
• Didn't get your vaccination? Click.

It is certainly true I don't trust fiat currency, but...I can still hold a $20 in my hand and get something. That isn't the real value. The real value is that your transaction with that $20 is your own business. You can give it as a gift, pay for some freshly grown produce, pay for a bottle of whiskey or give it to a hooker if that is your thing. The Government has no say in that in an immediate and direct way, except in the actual value of that fiat currency.

But you can tell-the Statists are itching to get rid of physical currency. Itching. Their fingers are twitching just thinking of it.

For them, it is as close to the ultimate control of people as they can get.

When a Man or the Government tells you that "Your money is no good here" and they do it with a click of a button thousands of miles away, well...when you cannot buy food, shelter, or clothes in any way other Than bartering some physical or mental task or service you can render...that is pretty comprehensive control.

And they have demonstrated repeatedly, and in every way possible, that their goal is to obtain that level of control. It is why so many of them think the Communists are the Bee's Knees.

[norsky]

you can enter the new economy only if you have a green pass.

you no have you die! maybe you die anyway.

[Ancesthntr]

Best post that I’ve read in a very long time.

Also among the most alarming posts that I have read in a long time.

Yup, those who pine for control over others, the more the merrier, are simply drooling about this. The only thing better (or at least the most complementary thing possible) would be to confiscate firearms from the populace. But it looks like they won’t have to - they’ll be able to starve and/or freeze us to death first. Hell, they may even go soft and offer a fair (digital) price for our guns & ammo, and even leave us alone for a little while if we sell it to them. But controlling the money is controlling the society - without any doubts whatsoever. As you pointed out, that’s exactly what a digital currency will hand to those who most like to exercise power.

Prison planet.

[poconopundit]

Good commentary, rlmorel.

Crypto-currency advocates would argue that security is enhanced because nobody can associate a crypto asset with an individual person. That's why fraudsters and criminal love crypto.

In truth, criminals are targeting people who participate in crypto social media forums. They view them as nice targets for phishing and scam campaigns.

Two Russians Charged in $17M Cryptocurrency Phishing Spree

The nice thing about banks is they have stopgap measures to protect your savings account. They also have a reputation to protect. And there's a federal law (FDIC) protecting accounts up to $200,000.

With crypto, all you've got is your password. And if you lose your password or somebody discovers it, say sayonara to your savings.

[EBH]

Everyone screaming about the $600 limit for bank accounts transacting in cash to be reported to the IRS, well that is just a step towards digital currency. Eventually cash will just become archaic. This whole scheme for the currency will come in bit by bit through legislation buried deep in these bills.

The reality is if you are not debt free and need to pay any major bills they are going to want to know where and how you got that cash to do so. The dollar is going away and those not wanting to transact in digital will have to figure out another way. But if you have to pay say a mortgage or rent, then you will need pay in digitaldollars.

Honestly, this is where I can see using silver coins comes back into fashion, because the paper dollar is being made worthless.