vimothy

yurp
The idea of a public or private panopticon is enough to sink the notion of a CBDC in the US, you're right. Even if its technically inaccurate.

the problem us authorities face is that, if they want the banking system to manage a CBDC (since they dont want to manage the liability side, or damage the financial system), it's not obvious what the advantages of a CBDC are from a consumers POV versus a deposit held a bank which is covered by deposit insurance
 

Clinamenic

Binary & Tweed
the problem us authorities face is that, if they want the banking system to manage a CBDC (since they dont want to manage the liability side, or damage the financial system), it's not obvious what the advantages of a CBDC are from a consumers POV versus a deposit held a bank which is covered by deposit insurance.
The lack of deposit insurance is a drawback for holding any assets on custodial crypto exchanges, for sure. The main advantage of using stablecoins is really composability, a benefit the nuance of which is lost on most people. Plus, barring mixer/tumbler protocols and a couple other confusing things, on-chain accounting should be significantly easier than off-chain accounting.
 

forclosure

Well-known member
The lack of deposit insurance is a drawback for holding any assets on custodial crypto exchanges, for sure. The main advantage of using stablecoins is really composability, a benefit the nuance of which is lost on most people. Plus, barring mixer/tumbler protocols and a couple other confusing things, on-chain accounting should be significantly easier than off-chain accounting.
its interesting how cypto and bit coin went from being this secretive thing that nobody could really tell what it was being used for to gambling

or if you listen to certain black capitalists the way black people can "liberate" themselves from the grip of banks etc etc its just the ancient argument about "buying power" but with a slightly more libertarian bent to it
 

Clinamenic

Binary & Tweed
its interesting how cypto and bit coin went from being this secretive thing that nobody could really tell what it was being used for to gambling

or if you listen to certain black capitalists the way black people can "liberate" themselves from the grip of banks etc etc its just the ancient argument about "buying power" but with a slightly more libertarian bent to it
Honestly the buying power argument has some legs to it here. Certain tokens allow governance rights within DAOs, and certain DAOs directly manage protocols, so anyone can buy governance power in the web3 layer of the internet.
 

Clinamenic

Binary & Tweed
To me that is as appealing as the potential for capital gains. In some respects its a land grab, but most of the people speculating on these tokens don't understand what exactly their speculating on.
 

vimothy

yurp
The lack of deposit insurance is a drawback for holding any assets on custodial crypto exchanges, for sure. The main advantage of using stablecoins is really composability, a benefit the nuance of which is lost on most people. Plus, barring mixer/tumbler protocols and a couple other confusing things, on-chain accounting should be significantly easier than off-chain accounting.
I don't think stable coins are the relevant comparison for most ppl. most ppl hold deposit accounts with banks in the tradfi system. what's the advantage, to them, of a central bank digital currency, held at and managed by their bank?
 

Clinamenic

Binary & Tweed
I don't think stable coins are the relevant comparison for most ppl. most ppl hold deposit accounts with banks in the tradfi system. what's the advantage, to them, of a central bank digital currency, held at and managed by their bank?
Yeah to me CBDCs are only interesting if we're talking about stablecoins, which isn't a given. Short of leveraging that technology, I really don't see the point of a CBDC, and if anything I'd have reservations about the prospects. Maybe there are good arguments, I'm just not aware of them.
 

WashYourHands

Cat Malogen
deaf to America!


in the lust for western power you have to be seen to be working hard, exercising regularly and a loving dog owner. my Mum is early 80’s and does power walking round Belfast with a group of old girls. admit to being concerned if she phoned up saying she’d bought a 2nd hand Raleigh Grifter and was out razzing it

the Grifter brought stability with a robust frame, speed and mobility. cars respect no such things. same with driving, oblivious to kerbs and this is meant in a truly benevolent way - you don’t get taught at school how to manage ageing relatives and death, you have to learn by seeing it close up and personal to empathise. nation states are similar, look at Putin. when does Vlad know it’s last orders? curious to see Putin’s dinner of the day

there’s a cut-off with age and the pressures of position, surely. I’ve known plenty of sharp 85+year olds but head of the US is 365/7 and even 80 is going some
 

Mr. Tea

Let's Talk About Ceps
I mean, you do understand, don't you, that nobody here gives half a dried shit about Joe Biden?

Certainly none of us have the desire to tongue-punch his ringpiece as you apparently do with Trump.
 
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