FedNow- Digital Dollar

[The_Duck_Master]

Digital currency is how they roll in the PRC. Get out of line with the government and they turn off your debit card and lock down your account.

I’m reminded of the tee shirt with Geronimo, Chief Joseph, Sitting Bull & Crazy Horse with the line, “turn in your guns, the government will take care of you.”

That's because it's not trustless.

 

[The_Duck_Master]

digital dollars will never accrue value anymore than paper has, the opposite

Why if there is no ability to create any more of it? Government CBDC can be increased, Bitcoin can't.

 

[pintail2222]

Why if there is no ability to create any more of it? Government CBDC can be increased, Bitcoin can't.

It won’t be until 2140ish when all the bitcoin is expected to be mined.

 

[The_Duck_Master]

It won’t be until 2140ish when all the bitcoin is expected to be mined.

Right, but it IS limited and increasingly costly to do. An incredibly ingenious way to foster early adoption while rewarding long term mining.

 

[Fogie]

Why if there is no ability to create any more of it? Government CBDC can be increased, Bitcoin can't.

are bit things digital dollars? “mining”..lol

 

[grahler]

Why if there is no ability to create any more of it? Government CBDC can be increased, Bitcoin can't.

The fact of its purported scarcity doesn’t prevent government seizure of it.

I always think of this example and is it unlike crypto?

John Keynes
General Theory of Employment, Interest, and Money: If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coalmines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again… the note-bearing territory), there need be no more unemployment and, with the help of the repercussions, the real income of the community, and its capital wealth also, would probably become a good deal greater than it actually is. It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.

It’s ridiculous and it’s the same as bitcoin.

How governments seize millions in stolen cryptocurrency

 

[Fogie]

The fact of its purported scarcity doesn’t prevent government seizure of it.
View attachment 382151

I always think of this example and is it unlike crypto?

John Keynes
General Theory of Employment, Interest, and Money: If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coalmines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again… the note-bearing territory), there need be no more unemployment and, with the help of the repercussions, the real income of the community, and its capital wealth also, would probably become a good deal greater than it actually is. It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.

It’s ridiculous and it’s the same as bitcoin.

they will get it all eventually

 

[The_Duck_Master]

they will get it all eventually

The only question is how we get there, through decentralized crypto like Bitcoin or centralized via a CBDC. It is unequivocally clear which one is better for freedom of thought and expression. People rant so much about the deep state and limited government but criticize efforts to curtail those. Will I see it in my lifetime? Probably not, but I sure hope for humanities sake I do.

 

[Lip Shooter]

The only question is how we get there, through decentralized crypto like Bitcoin or centralized via a CBDC. It is unequivocally clear which one is better for freedom of thought and expression. People rant so much about the deep state and limited government but criticize efforts to curtail those. Will I see it in my lifetime? Probably not, but I sure hope for humanities sake I do.

A+

I enjoy reading people looking at Bitcoin mining as creating bitcoin. Shows how clueless they are.

 

[pintail2222]

A+

I enjoy reading people looking at Bitcoin mining as creating bitcoin. Shows how clueless they are.

You get an F- when it comes to understanding bitcoin mining.

What is Bitcoin mining?​

Bitcoin mining is the process of creating new bitcoins by solving extremely complicated math problems that verify transactions in the currency. When a bitcoin is successfully mined, the miner receives a predetermined amount of bitcoin.

Bitcoin Mining: What Is It And How Does It Work? | Bankrate

Learn more about how Bitcoin mining can impact your investing strategy. Bankrate offers tips and guidance for cryptocurrency investing made easy.

www.bankrate.com

What Is Bitcoin Mining?​

Bitcoin mining is the process of creating new bitcoin by solving puzzles. It consists of computing systems equipped with specialized chips competing to solve mathematical puzzles. The first bitcoin miner (as these systems are called) to solve the puzzle is rewarded with bitcoin. The mining process also confirms transactions on the cryptocurrency's network and makes them trustworthy.

Bitcoin Mining

Breaking down everything you need to know about Bitcoin mining, from blockchain and block rewards to proof of work and mining pools.

www.investopedia.com

How Bitcoin Mining Works​

Bitcoin mining is a process that creates new Bitcoins and releases them into circulation.

How Bitcoin Mining Works: Explanation and Examples - NerdWallet

Bitcoin mining is a process that creates new Bitcoins and releases them into circulation.

www.nerdwallet.com

WHAT IS CRYPTO MINING?​

Most people think of crypto mining simply as a way of creating new coins. Crypto mining, however, also involves validating cryptocurrency transactions on a blockchain network and adding them to a distributed ledger. Most importantly, crypto mining prevents the double-spending of digital currency on a distributed network.

Mining Explained: A Detailed Guide on How Cryptocurrency Mining Works

Most people think of crypto mining simply as a way of creating new coins. Learn More....

freemanlaw.com

How Does Bitcoin Mining Work?​

Bitcoin mining is a process that helps verifying bitcoin transactions, and creating new bitcoin. In many ways, bitcoin mining is similar to gold mining. Bitcoin mining and gold mining are both energy intensive, and both have the potential to generate a handsome monetary reward.

How Does Bitcoin Mining Work?

Bitcoin mining helps maintain the cryptocurrency network and can be profitable for bitcoin miners. Learn what bitcoin mining is and how the process works.

www.thebalancemoney.com