[RomanSoldier19]

>

[sonova]

Oooh! A cryptocurrency run by the feds.
Can I get an extended warranty with that?

[rigelkentaurus]

Protecting privacy??? The entire point of this exercise is to eliminate privacy.

The government would know exactly where each coin is at all times, and exactly who has it and what it is being used for each time. That means it can be selectively turned off for specific products out of favor with the regime, or just turned off for you because your social credit score is too low, or, turned off if you have wandered too far from your home - say 5 miles - because they are quarantining you.

[JustaTech]

No doubt the technical research is about preventing conversion of CBDC into cash or any other currency. ​Basically keeping all of us trapped in the roach motel of fiat.

With our money trapped in Fed-controlled digital accounts, they’ll have free reign to impose negative rates, new taxes, new criteria for civil asset forfeiture of bank accounts, race-based “reparations” for social justice, and of course bail-ins for when the bank decides to “fail”.

To herd everyone’s funds into CBDC they’ll have to do away with cash afterwards. That part seems to be de-emphasized for some reason...

[RockyTx]

what do
Visa and Mastercard
think about all this?

[KarlInOhio]

The theoretical coin, which was unveiled just as the Federal Reserve explores the pros and cons of adopting one – could handle 1.7 million transactions per second, and settle in under two seconds, the Boston Fed and MIT surmise.

And how quickly can it be devalued? One extra zero per day or even faster?

[july4thfreedomfoundation]

Glenn Beck mentions this all the time.

It sounds like FedCoin, meant to devalue and replace paper currency altogether.

[BiglyCommentary]

“could handle 1.7 million transactions per second,”

That’s professionaly designed for real world scale out and use. Unlike the hobbyist cutsy bitcoin that has a max rate of 10 transactions per second.

[OpusatFR]

Cartels, criminals, illegals, and bad actors excepted.

Gotta keep those tax donkeys corralled don’t you know.

[Tallguy]

This government can’t rollout a Healthcare application website without effing it up, and they are going to develop a crypto-currency that will settle all transactions in less than 2 seconds? Does Vegas have a line on this?

[Adder]

It will be the YIM coin...
Yours Is Mine

Has a nice ring...

[Joe Brower]

Perhaps of interest.

[Joe Brower]

All this talk of nationalized 'digital currencies', the implication that such would work in a manner akin to BTC, which, of course, we know the exact opposite will be true. Centralized control and total monitoring of every transaction, large and small.

A statist's wet dream come true.