CBDC vs regular credit/debit card or bank account

posted 1 year ago by CrazyRussian 1 year ago by CrazyRussian +8 / -0

Reading all kind of CBDC propaganda and those who are clearly against CBDC I absolutely can't get something real from that stuff.

Every single feature/option/whatever of CBDC could be implemented using current bank card/account system without single problem. Everything, from any restrictions to programming buying power or whatever. Every single thing that somehow connected to CBDC in everything written about it and posed as threat/advantage by whatever side is a question of a few minutes scripting in bank computers over current card/account system.

So, what is the real point of pushing CBDC crap by TPTB? Money laundering? Creatiing a base for some other narrative unknown yet, like kind of cyber threat fearmongering? What else? Anybody?

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– CrazyRussian [S] 1 point 1 year ago +1 / -0

CBDC, like, e.g., ETH, is designed to be programmable, trackable, and non-fungible.

If you dig deeper in that terms, you will find out that there is no any problem with that things in card accounts too. Programmable - easily. Dtabase triggers and procedures are not a new things at all. Trackable - there is no problems of tracking anything in database. Non-fungible there is no problem in adding a column with unique number.

So, would the currency only be good/legit if you could withdraw 8 million dollars?

Obviously, there should be no any limit on sum of withdrawal. As on sum you could keep with you in travel and so on.

By your logic, even though the second amendment protects American citizens' rights to keep and bear arms, since we aren't allowed to have nuclear ICBMs, we might as well give up the second amendment, entirely. It's all just binary, no continuums, no nuance, etc.?

Seriously - yes, I think there can't be any limits on the owning of any tech. Use of tech outside your property - may be. But definitely not owning. It is just basically stupid. No government could prevent me from building and owning fusion reactor. And even from using it in my property. But it will be wrong thing if I will take my fusor and run it at voltage level when it began to shoot fast neutrons in a pub.

Would you rather have that scenario or a scenario where your car prevents you from going 1 mph over the speed limit, regardless of your tolerance for risk?

But how CBDC is different in that from regular card/bank account? If they want, they could right now implement such limit on card/bank accounts to prevent buying more than 2 rolls of toilet paper, f.e. Just in a second. And CBDC adds nothing to that ability.

Of course you could hack that system in car, or go to the black market trade of toilet paper, but you will be able to do it regardless of CBDC existence.

How about your car let you go over the speed limit and then automatically deducts a $100 ticket from your bank account, every time you go above the speed limit.

That is exactly like many road camera systems work in some EU countries and nearly same as it work in Russia (fine does not deducts immidiately, but if you will have too many unpaid, it will). Without any CBDC at all.

but it can (and will) get a lot worse.

And why they need CBDC for that, when they already have card/bank account system? I still don't get that. Not what they want to achieve with CBDC, but why they need CBDC when they already have everything needed in place. That is my question, not how CBDC planned to work and so on.