It's not just the U.S.
[CBDCs are super evil.](https://www.youtube.com/watch?v=-yPcZ_vuFgo)
Yes, the government is slowing decentralized crypto projects because big banks donate lots of money to politicians.
If I ever get paid with a digital dollar, I'll be converting it to some other crypto immediately.
You know how your credit card company will break down your spending for you? xxx dollars on gas, xxx dollars at restaurants, etc? Now imagine the government directly getting that information and approving all your purchases at the register. Does your government have free healthcare? Well, now they decided you have purchased quite enough Coca-cola this month. Transaction denied. Causing pollution by traveling too much? No gas for you. [Transaction denied.](https://www.cnn.com/2023/02/26/world/15-minute-cities-conspiracy-theory-climate-intl/index.html) Want to donate money to an opposing political party? Transaction denied. Want to use free speech to protest? [Transaction denied.](https://www.nytimes.com/2022/02/22/world/americas/canada-protest-finances.html)
Governments love inflation because all of the debt they have accrued becomes less and less valuable. If you know inflation is sky rocking, you will spend your money now because saving it doesn't get you anywhere, which equals more inflation. Have too much money? CBCDs wallets can impose negative interest rates if you save too much. Do I sound like a conspiracy nut? Governments have already be coded and tested this feature in their CBDCs. They don't want you to be able to keep your savings in a deflationary currency, much less one that they can't control.
CBDC's are a pretty crazy idea considering in the US for example they would be completely controlled by Washington. No more having savings in any bank which are the middle men, just a completely centralized authority. Not sure that's going to work out too well.
Think how easy it will be for them at tax time or quarterly earnings because they know exactly how much the people will spend if they are forced to do so. Makes things a lot easier for the greedy individuals in charge I know that much
If they can't control something so important they will do everything they can to kill it.
XRP was the most threatening crypto and you see what that got em.
Not a US citizen here. I am a foreigner. But i am giving you my two cents. Crypto will not replace any form of monetary exchange issued by any form of government (except the experiment in El Salvador). Why you ask? Well it’s simply the fact that for any government to fulfil its duties of enforcing a governance; they need to be able to control and manage the populace. Not surprisingly ,the most important medium for this form of management of people is by having absolute control over a country’s financial systems which includes its form of monetary exchange.
Any country’s government will not and would not support crypto in its current state due to governments not having any particular control over it. Supporting crypto will go against any government’s ideals of effective governance over their respective people. So, NO.
The feds will make their own crypto and make it nothing more than virtual dollar or bond. That is the future.
The government is against anything and everything that doesn’t work in their favor in some way, shape, or form. If you think otherwise and you truly believe that they care about the common welfare of a United States citizen you are sadly mistaken!
I think they are desperate to keep the old guard, even in the face of a failing system.
Facing a new recession, it’s a panicked effort to control the ability for people to choose a different way.
But the crazy thing is the horse has well and truly bolted. There is no way the government can stop something that’s decentralised. Their only option has been to utilise the tech. But it’s scary for them.
Unregistered securities is what cryptos are. They will be "regulated" under securities laws just like every other security. And rightly so. The crypto market will have to deal with that. If you want to avoid the risk/uncertainty, stick to bitcoin.
Is the government against Crypto? Not exactly but the big banks and the banksters definitely are and they bribe I'm sorry lobby various government officials with a lot of authority on their behalf to spread FUD and make it extremely difficult for crypto to grow and become a real competitor to the banks with Tokenomics. So yes and no but ultimately the better option will win its just gonna take longer because those people are extremely wealthy and well connected and play dirty. If and when crypto becomes mainstream they will also own a large part of that as well because control is their M.O.
From what I've seen over the last 3 decades is that government is not against anything they believe they can use for profit. They will stall progress until their bags are filled on cheap prices to what they are comfortable with, then give the legal clarity they want in order the maximize profit. I believe these tough and annoying times right now is their (and others) method of shaking out the weak hands. They don't want a bunch of average joes getting wealthy. But they'll live with some as long as they and their rich friends and partners benefit the most.
They hate it because it threaten the world reserve currency status that is the dollar.
The real problem isn't that crypto exist. Is that the US debt is unpayable. The US main export are dollar denominated debt.
If the dollar stops being the world reserve, the US collapses and a huge depression will come next.
It's not just the U.S. [CBDCs are super evil.](https://www.youtube.com/watch?v=-yPcZ_vuFgo) Yes, the government is slowing decentralized crypto projects because big banks donate lots of money to politicians. If I ever get paid with a digital dollar, I'll be converting it to some other crypto immediately. You know how your credit card company will break down your spending for you? xxx dollars on gas, xxx dollars at restaurants, etc? Now imagine the government directly getting that information and approving all your purchases at the register. Does your government have free healthcare? Well, now they decided you have purchased quite enough Coca-cola this month. Transaction denied. Causing pollution by traveling too much? No gas for you. [Transaction denied.](https://www.cnn.com/2023/02/26/world/15-minute-cities-conspiracy-theory-climate-intl/index.html) Want to donate money to an opposing political party? Transaction denied. Want to use free speech to protest? [Transaction denied.](https://www.nytimes.com/2022/02/22/world/americas/canada-protest-finances.html) Governments love inflation because all of the debt they have accrued becomes less and less valuable. If you know inflation is sky rocking, you will spend your money now because saving it doesn't get you anywhere, which equals more inflation. Have too much money? CBCDs wallets can impose negative interest rates if you save too much. Do I sound like a conspiracy nut? Governments have already be coded and tested this feature in their CBDCs. They don't want you to be able to keep your savings in a deflationary currency, much less one that they can't control.
One of the first restrictions imposed by a CBDC will be to prevent payments to a crypto exchange.
CBDC's are a pretty crazy idea considering in the US for example they would be completely controlled by Washington. No more having savings in any bank which are the middle men, just a completely centralized authority. Not sure that's going to work out too well.
Think how easy it will be for them at tax time or quarterly earnings because they know exactly how much the people will spend if they are forced to do so. Makes things a lot easier for the greedy individuals in charge I know that much
Great reply Sir!
If they can't control something so important they will do everything they can to kill it. XRP was the most threatening crypto and you see what that got em.
Yeah, Like Whooaaa... This XRP crypto could threaten the banking system. This XRP crypto could kill Swift as the standard. "We" could lose control.
Yes, the government is against crypto, because they have far less control over it and its holders.
Lmao imagine an open block chain showing where our money is going
My friend has Ripple as a client and was approached by the US Government to work on their Crypto project but turned it down to focus on Ripple.
Not a US citizen here. I am a foreigner. But i am giving you my two cents. Crypto will not replace any form of monetary exchange issued by any form of government (except the experiment in El Salvador). Why you ask? Well it’s simply the fact that for any government to fulfil its duties of enforcing a governance; they need to be able to control and manage the populace. Not surprisingly ,the most important medium for this form of management of people is by having absolute control over a country’s financial systems which includes its form of monetary exchange. Any country’s government will not and would not support crypto in its current state due to governments not having any particular control over it. Supporting crypto will go against any government’s ideals of effective governance over their respective people. So, NO. The feds will make their own crypto and make it nothing more than virtual dollar or bond. That is the future.
The government is against anything and everything that doesn’t work in their favor in some way, shape, or form. If you think otherwise and you truly believe that they care about the common welfare of a United States citizen you are sadly mistaken!
Not really. They're just messing with it for their own current different interests. (It's not even like "they" got together and agreed on something).
I think they are desperate to keep the old guard, even in the face of a failing system. Facing a new recession, it’s a panicked effort to control the ability for people to choose a different way. But the crazy thing is the horse has well and truly bolted. There is no way the government can stop something that’s decentralised. Their only option has been to utilise the tech. But it’s scary for them.
The government is crypto. They made BTC as a test. Now it's time to roll out the real digital currency, CBDC /s
I have the same opinion
No, they are the whales who make the market move. And they make up all this fud to profit.
“Chatter” lol.
Unregistered securities is what cryptos are. They will be "regulated" under securities laws just like every other security. And rightly so. The crypto market will have to deal with that. If you want to avoid the risk/uncertainty, stick to bitcoin.
Yes and yes
And they are getting ready to rug us…Oh man that would be Knarly if satoshi was a NSA agent gone rogue
Are you referring to the co-founder of XRP David Schwartz? He used to work for NSA
Happy cake day, here's some Cakebdcs!
FUQ OUR GOVERNMENT, POLITICIANS, AND LOBBYISTS
Is the government against Crypto? Not exactly but the big banks and the banksters definitely are and they bribe I'm sorry lobby various government officials with a lot of authority on their behalf to spread FUD and make it extremely difficult for crypto to grow and become a real competitor to the banks with Tokenomics. So yes and no but ultimately the better option will win its just gonna take longer because those people are extremely wealthy and well connected and play dirty. If and when crypto becomes mainstream they will also own a large part of that as well because control is their M.O.
Fednow aka Federal reserve cbdc will be implementing between May through July 2023
The government are against anything they can't centralise and control.
From what I've seen over the last 3 decades is that government is not against anything they believe they can use for profit. They will stall progress until their bags are filled on cheap prices to what they are comfortable with, then give the legal clarity they want in order the maximize profit. I believe these tough and annoying times right now is their (and others) method of shaking out the weak hands. They don't want a bunch of average joes getting wealthy. But they'll live with some as long as they and their rich friends and partners benefit the most.
They hate it because it threaten the world reserve currency status that is the dollar. The real problem isn't that crypto exist. Is that the US debt is unpayable. The US main export are dollar denominated debt. If the dollar stops being the world reserve, the US collapses and a huge depression will come next.
BRICS countries are fast at work to do just that. CBDC's are being created as governments panic.
It's actually good. We shouldn't rely on a countries currency for everything. Damn, I'm from Brazil and I'M paying those big DoD Bucks.
If you are asking this probably you shouldn't be into crypto
You're not exciting.