How CBDCS(central bank currency) could lead to the end of +18 and restricted games.

[Samyaza]

Isn't it strange to imagine that, even here in America, your bank account could one day be frozen because of your politics or comments you made on social media and also have some relation to the adult gaming industry as we've seen paypal and banks do in recent cases.
PayPal modified its acceptable use policy to fine users $2,500 for spreading what it considered misinformation, a change it rescinded under pressure. However, thousands of customers are suing PayPal for arbitrarily seizing their accounts.

These are private company decisions, but often these private companies act out of fear of Congress or regulators, or directly on their orders. Your decisions directly affect our rights.
The digitization of currency has given the government unprecedented powers to surveil and control economic life.
This is why I oppose CBDCs(central bank currency), which will greatly expand the government's power to stifle dissent by cutting off access to funds at the touch of a key.

 

[Nastastic]

Isn't it strange to imagine that, even here in America, your bank account could one day be frozen because of your politics or comments you made on social media and also have some relation to the adult gaming industry as we've seen paypal and banks do in recent cases.
PayPal modified its acceptable use policy to fine users $2,500 for spreading what it considered misinformation, a change it rescinded under pressure. However, thousands of customers are suing PayPal for arbitrarily seizing their accounts.

These are private company decisions, but often these private companies act out of fear of Congress or regulators, or directly on their orders. Your decisions directly affect our rights.
The digitization of currency has given the government unprecedented powers to surveil and control economic life.
This is why I oppose CBDCs, which will greatly expand the government's power to stifle dissent by cutting off access to funds at the touch of a key.

I had to look up "CBDC" as the OP does not define it:

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A central bank digital currency (CBDC; also called digital fiat currency

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or digital base money

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) is a issued by a , rather than by a . It is also a liability of the central bank and denominated in the sovereign currency, as is the case with physical banknotes and coins.

Rather than a new currency, CBDC is a form of central bank electronic money that could be used by households and businesses to make payments. A report by the states that, although the term "central bank digital currency" is not well-defined, "it is envisioned by most to be a new form of central bank money [...] that is different from balances in traditional reserve or settlement accounts.".

The present concept of CBDCs differs from and cryptocurrency in that a CBDC is or would be issued by a . Most CBDC implementations will likely not use or need any sort of such as a .

In other words, this is not yet a thing. Just something to watch out for in the future.

 

[dickness all around]

nothing new here, a guy had a smart house from Amazon. one day his entire smart house stopped working. apparently some asshole in the company found the guy's political messages online and decided to shot him down for it. Amazon never said "we're sorry", they just restored his smart house and that was that. the man apparently sold the house and left Amazon, this is basically how the people in power wants everyone else to be. it's why they push credit card on us, hoping that hard cash will never be used again.

if you are being punished for whatever reason I get it, but do it via the law, to deny someone's rights or things he owns because you disagree with his political views is a red line we can't cross as a society. other than a ****, these I have no problem hunting and shooting to death, but then again you need to have proof first. which is why we also can't go there. the law needs to do it's job, it might not be perfect, but we can't allow people to do whatever they want. and again I have no problem with killing real life ****s, non at all, but unless it's done via the law (not perfect I am aware) it's gonna be way worse if we as a society start killing the wrong people.

 

[Valso]

The digitization of currency has given the government unprecedented powers to surveil and control economic life.

You Americans have given up your financial freedom long ago but the most of you don't realize it and you keep giving it away completely voluntarily. There's one thing almost every American has which I refuse to sign up for, no matter how hard the banks try to convince me to use. It's called a "credit card". The credit card is a financial slavery.

 

[Samyaza]

I had to look up "CBDC" as the OP does not define it:

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In other words, this is not yet a thing. Just something to watch out for in the future.

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You mean 1 year right?

This is really near to be completed in the near very near future.

 

[h3n741.g33k]

Digitization is the treasury's response to both Crypto and the BRICS alliance. In short, and to be blunt, hyper-inflation is now soo bad that creating physical currency to match dollar for dollar the exchange within the actual economy is physically impossible and only going to get worse. Since 2016, about 6,000x the physical US currency in existence, is exchanged electronically, every year. Now credit is one thing as credit doesn't represent actual currency so there's a way out of this through that from economics management perspective. But since 2018, the amount exchanged electronic transactions far excheeds all credit+in circulation currency and etc.

Real problem of this is, that for every honest dollar spent online, about 10k are spent in money laundering or scams or just plain crime economics (one criminal org buying things from another with money that theoretically shouldnt exist).

So, this is an attempt to remedy both the supply issue and provide a means to ensure the electronic dollar spent is a legitimate dollar not some money laundered from credit to gift cards or from counterfiet purchase of electronic funds. It is a bad thing and should be stopped on govt's e-coin, but feasibly the issue of invalid electronic money and the supply of currency to assets/capital goods backing offsets, is something that needs to be addressed and that honestly there is no real solution for due to FIAT system basically saying the Govt has final say on determining what currency is recignized as valid or not, and whether it should be honored or seized. Like since loss of glass stegal with Ghram Leech Bliley act, basically any perspective rich guy can take out a loan on an asset he wants to buy, then buy that asset with that loan. Problem with that being, when we are talking Leverage Luquiduty average ratio of 33 to 1 on debt issued and dealing in billion dollar assets, you get a 33 billion dollar loan to buy a 1 billion dollar item. This is why hyperinflation exploded from 1992 to present. Just a flood of "valid" currency due to billionaire's taking on insane debts on assets that are bad/nonexistent and even worse CDOs making debt itself sucg an asset to be traded in such a way. Taking out 33 to 1 to 98 to 1 loans to buy an asset that is nothing but a bunch of loans traded at sane insane LvL ratios and by bunch I mean CDOs being assets of 1000s to 100s of 1000s of such loans.

Growing the in circulation trade rate at such exponential degrees got us here to where we are now. And in the end thanks to FIAT, all the money is only "valid" because the state says it is, even when 99.999998% of the CDOs used to create that "asset" were fake/scam loans.

 

[c0rkscr3w]

I had to look up "CBDC" as the OP does not define it:

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In other words, this is not yet a thing. Just something to watch out for in the future.

Its not a thing yet, but if the people in power decide its introduction has more benefits than drawbacks to them, then it will get implemented. Once you begin to see increasing positive reports about it in mass media, you'll know it won't be long before it gets introduced.

 

[Lucumo]

Any control over your money is a bad thing. It's why you ideally use cash in the real world as much as possible.

 

[purequiche]

Fuck the WEF
Fuck CBDC

 

[Uninvited Gues]

Cash is printed freedom. Ask germans about it .

 

[Crpapjda]

You Americans have given up your financial freedom long ago but the most of you don't realize it and you keep giving it away completely voluntarily. There's one thing almost every American has which I refuse to sign up for, no matter how hard the banks try to convince me to use. It's called a "credit card". The credit card is a financial slavery.

Dude, I agree. I hate when people (that can do hard math) say "just use credit, with the interest/inflation (or whatever term they choose to misuse that day) you will pay less than the cost"... but they are not taking the fact that is "less than the cost" of the item in a few months later, and that they dont profit of the money they "didnt spent" earlier.

 

[Valso]

Dude, I agree. I hate when people (that can do hard math) say "just use credit, with the interest/inflation (or whatever term they choose to misuse that day) you will pay less than the cost"... but they are not taking the fact that is "less than the cost" of the item in a few months later, and that they dont profit of the money they "didnt spent" earlier.

It's not the cost that is the problem. When paid with credit card, the cost of the item is always higher, especially if you buy it on leasing. But whether you pay the whole sum or parts of every month, the cost is always higher. In my country it's usually 50% higher.
But as I said: that's not the main problem. The main problem comes, if you miss the date for the instalment with even just one day, they immediately begin penal and legal penalties against you, not even giving you the chance to do that instalment on the next day and when they're done with you, you have nothing left and you become homeless. Our streets are full of people who used to have properties and now thanks to credit cards live in the streets.
That's the financial slavery I was talking about and that's why I'll never have a credit card, even if I have to become a social pariah for the lack of it.

 

[Crpapjda]

It's not the cost that is the problem. When paid with credit card, the cost of the item is always higher, especially if you buy it on leasing. But whether you pay the whole sum or parts of every month, the cost is always higher. In my country it's usually 50% higher.
But as I said: that's not the main problem. The main problem comes, if you miss the date for the instalment with even just one day, they immediately begin penal and legal penalties against you, not even giving you the chance to do that instalment on the next day and when they're done with you, you have nothing left and you become homeless. Our streets are full of people who used to have properties and now thanks to credit cards live in the streets.
That's the financial slavery I was talking about and that's why I'll never have a credit card, even if I have to become a social pariah for the lack of it.

aaaahh ok where i live, credit lines and credit debt are not that big of a problem, and penalties are not that ridicule. They still bleed you, but not to that extreme
Here you often get credits with 0% interest here (over short times). That's why people here use it to buy thing "cheaper" because "they will pay it later"