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x3lr4 t1_ixppyl1 wrote

It will not be money anymore, because it will completely lose the property of fungibility. Every single dollar will be differentiable to another dollar and carry attributes like your name and the name of every previous user and any transaction made with it. It will be able to be seized or frozen at any time. You will only be able to make purchases that you have specifically received permission for. This will likely be done with pre-approval lists based on various categories like your social credit score and your assigned caste.

19

SageMaverick t1_ixpxvyt wrote

如果五天内不删除，此评论将被中国共产党CCP审查。你被警告了。

4

kdjfskdf t1_ixpd1z1 wrote

Affect. When you misspell that again, the controller of the CBDC can turn you off

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ExpiredOTMCalls t1_ixqd7th wrote

I spent a good ten minutes trying to figure out what the “Digital Dollar Effect” was.

1

Independent_Read2676 t1_ixpa61o wrote

Also, they can block your bank funds any time they want right now. Im sure there will be more control over digital dollar but they already got us by the nutsac

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Certain-Mobile-9872 t1_ixsm8om wrote

except we still have dollars so they might think they have you by the nutsac but you can still spend dollars once money goes all digital if we let it happen the government will totally control us.

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Independent_Read2676 t1_ixpa3cr wrote

When you get paid, its direct deposited into your account, then you pay your bills online, after that you use your debit card to buy Mcdonalds.... Were already on the digital dollar. You can just get paper ones to supplement.

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CheetoEnergy t1_ixpbun2 wrote

It will destroy the currency. Just look how easily crypto was mismanaged. Banks/governments love the idea of creating monies out of thin air! It means they can spend without limits. Get ready for currency destruction.

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Effective_Young3069 t1_ixuuupj wrote

Money is created from thin air by banks

3

CheetoEnergy t1_ixuy83n wrote

Yes, because the government allows them to. We should return to a stable form of currency for many reasons. It limits spending overall. The government can't perform endless wars with a stable currency. It has literally led to millions dead.

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Deicide1031 t1_ixpdmek wrote

They already do everything you just said bro

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CheetoEnergy t1_ixpdur6 wrote

I agree with you. It will just get much worse man. The rate of destruction will surprise people.

3

Deicide1031 t1_ixpe07y wrote

We will see, but it’s inevitable it was always gonna happen. Seeing as most money is digital anyway may not make a difference. Bye bye to privacy though? Anyway who knows

0

JoshM-R t1_ixpdbqy wrote

It will speedrun the collapse of the USD. I'm thinking about investing in DVD players and movies to flip in the aftermath.

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Future-Back8822 t1_ixq4z6h wrote

I prefer to barter for things with "favors"...but the powers that be have already made that illegal unless they get a cut

I guess they're going to go all the way by controlling and tracing every little thing that I buy

3

gopher_slayer t1_ixs62sw wrote

It will be the end of the US dollar being a reserve. There are two reasons it is the reserve. The US is the strongest and largest economy creating a fairly stable currency. Second is our paper money is private and not traceable. A digital dollar will eliminate the privacy and open up a dystopian world where the government can turn off your “cash”. That in and of itself will make many places around the world not want to use it as a reserve.

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W1nn1gAtL1fe t1_ixpit6r wrote

I'm more concerned about what my trading is going to do to my purchasing power

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Flynn_Kevin t1_ixr3o1q wrote

It won't change purchasing power. Surveillance & control won't change at the fundamental level, but it will become faster & easier to trace funds or lock/seize them.

The real big implication is that it could end fractional reserve banking. No longer a need to keep physical currency on hand to honor withdraws.

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VisualMod t1_ixp9l7g wrote

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1

Shuttodeath t1_ixpitee wrote

it will destroy currencies . nice one. specially dollar, no more printing fake moneeeee

1

Revelation22_vv14-15 t1_ixpc5ys wrote

Doge > digital dollar, you can't print more doggies

0

duhduderx t1_ixpn6l4 wrote

False

A new block of transactions is mined roughly every minute on the Dogecoin network. The block reward is 10,000 DOGE, or about $600 as of September 7, 2022. Unlike Bitcoin, which has a hard cap of 21 million and releases fewer coins over time, there is no Dogecoin supply cap.

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Revelation22_vv14-15 t1_ixql0ym wrote

Only about 5 billion dogecoins will enter a year, you can't print more than that in a year

2

Seabound117 t1_ixt3ci9 wrote

There is a titanic amount of speculation and fear mongering flying around about the applications of a CBDC (Digital Dollar) and how this will instantly plunge us into a real life version of THX-1138. The government is demonstrably incompetant and the idea they could implement anything as complicated as what people are claiming without fucking everything up with half-assery is dilusional.

The distopian fetish that everyone is fapping over about CBDCs is unlikely and impractical. Also even if they tried anything even slightly close to these fantasy horror stories, a large portion of the populus would just revert to bartering or a substitute currency. Absolute authoritarianism is the stuff of fiction and mostly is used to peddle sub-par wares and other scams. Be more vigilant.

0

auranyxi t1_ixq1vk6 wrote

It will be great for us who report everything and pay taxes. I hate how many get away with paying cash with undeclared funds!!! I hardly ever see any dollar notes anyway. All I see is a + in my account and then a bunch of - from my wife and that’s it back to 0 😂

Hopefully I automatically save money and another account has a +. I might go to the ATM once a month to pay my barber 💈

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d00ns t1_ixpbtu1 wrote

It's already digital

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Strength-Silly t1_ixpm7zx wrote

i don't think this will have an impact.

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