What are the implications of the digital yuan or USD.

[Anonymous No.18533066]

I feel like we all had to be thinking that a large government was going to try to make a digital fiat currency before bitcoin goes on the next bull run. Am curious of the possible scenarios that could play out.

[Anonymous No.18533093]

>>18533066
what would be the difference with actual numbers that bank accounts transfer among each other?

[Anonymous No.18533199]

>>18533093

No more money privacy if it replaced paper money entirely

[Anonymous No.18533211]

Fuck glowies. People are going to ditch your negative interest rate shitcoin once and for all. Good luck Rothschild's, ya gonna need it.

[Anonymous No.18533264]

Why are people so panicked about the fiat digital? The way I see it that’s the equivalent to asking the normies “do you want a U.S.A sponsored internet, a China sponsored internet or the internet as it is today” I feel normies are dumb but not that dumb especially If the fiat is inflated to kingdom come they should decide on BTC and crypto.

[Anonymous No.18533269]

>>18533199
Only if there's an actually decentralized entity allowing you to give money to someone without (((someone))) in the middle.
Paper is more handy in many situations too, cannot be completely discarded as an option.

[Anonymous No.18533287]

>>18533264
I think they might be that dumb. All it would take is a media campaign fudding crypti as a bad store of wealth and unsafe investment, while downplaying the level of control the governments would have over digital fiat.

[Anonymous No.18533360]

>>18533264
Digital fiat is the gateway drug that leads to negative interest on consumer savings accounts. Right now if you put a stack of hundreds under your matress all they can do is inflate it away, if we go full idgital they can just charge you -% on your savings directly instead. Only people who already own physical assets will be somewhat sheltered, everyone else joing the new class of working poor where saving past the end of your paycheck is pointless.

[Anonymous No.18533532]

Well ultimately I think the digital fiat is here to stay. How do you believe this will play out? Will crypto devise so type of hype/marketing plan? Or will the government convince the world crypto is bad. (Honestly I believe the average person will just decide what will provide them with more money if it truly is a better solution for them?)

[Anonymous No.18533533]

>>18533360
How could this be effectively done? There will always be precious objects. Even if private ownership of PMs was banned, there’s still jewelry and other valuable if not quite precious metals that would be hard to ban private ownership of, like copper zinc and tin.

[Anonymous No.18533611]

>>18533066
none, they just try to get on with the technology smart and programmable money that you can use as cash offline maybe. but that's problematic because doing it without a timestamping server and determine objectively in what order the transactions were made or is there a malicious rollback on the spenders side is literally impossible.
what's possible is that you make this rollback illegal and the state authority enforces the rules of the blockchain.

[Anonymous No.18533623]

>>18533066
It would make it a lot easier for Crypto to achieve adoption. In the long run, banks would die or at least stop existing in their current form.

[Anonymous No.18533651]

>>18533611
and to determine which was the correct chain of signatures you need BOTH parties to sign a transaction both the sender and the receiver and the signatures have to contain a timestamp they agree on in the handshake.

this timestamp that can be millisecond accurate will ensure that ordering the transactions to the global ledger is always deterministic.

doing a double spend is akin to writing a bogus check you can't even pretend was by someone else. but the blockchain can not enforce the replacement of the invalid transactions with a valid one it must be up for violence enacted by state.

i am absolutely curious if this will work.

[Anonymous No.18533719]

>>18533651
well thinking about this it's still not gonna work very well because altho the spender can't produce someone else's signature retrospectively but he can produce one with an accomplice or a second wallet.

so basically doing offline crpyto transfers is a clusterfuck that can not be sorted out by normal blockchain rules. and offline spending distributing commingling offline spent coins creates an even more disturbing state of fucked.

sooner or later people will realize that bitcoin altho seems limited and cumbersome is the only crypto that ever truly solved this problem to an degree.

[Anonymous No.18533726]

>>18533719
*an acceptable degree
and it requires you to do it online for a reason.

[Anonymous No.18533839]

Will be just like crypto minus all the good features and with a ton of bad ones implemented on purpose, with a few catastrophic bugs here and there. It will work exactly as intended and no one will want to use it, but they will be forced to use it. Some straight up satanic shit. Hope someone murders a bunch of politicians, preferably by torture. In minecraft.
Im gay.

[Anonymous No.18533952]

>>18533839
frankly if you think about it ditching the paper money in itself is a huge pro. unsanitary economically disastrous dumb and hard to trace when investigating criminal activity.

but the custodial model used by banks is also shit. so even if the new currency is entirely state controlled and not perfect as in not trustless or permissionless just secure enough (and especially you have legal backing for honest players) and convenient and cheap it will see huge adoption.

[Anonymous No.18534010]

>>18533066

The govt will NEVER issue a currency that they do not control the supply of.

The govt will NEVER issue a currency where they cannot totally control who can use it and for what.

Here is what they will do: they will set up USD pegged "Fedcoin" which will be centrally printed, permissioned, with no privacy, and seizable at-will by LEO. The media will vomit out a huge propaganda push gushing about how it's a "revolution" without explaining how.

All the major companies and banks suckling on uncle sam's teats will obediently start accepting it, welfare will be issued in it, and they will try to push it on our trade partners as well.

Then they will move against the exchanges and anyone they can reach with subpoenas to suppress actual crypto. "why do you need that scary bitcoin, don't you know only terrorists and drug dealers use that?" They will offer a 1 time amnesty of swapping bitcoins to fedcoins, but after that they will put the boots to it. This will drive the market underground and hugely depress the value of cryptocurrencies.

From there the future is uncertain, but most likely Lolbertarians gay little insurgency against the central bankers will fail in the near term because they forgot that fiat is backed by the ultimate form of value: violence.

TLDR: Central banks will panic and lash out at a threat to their power. Nerds still hodling the bag will get crushed. Crypto may still win in the end, but not for many more years, and not in the US. The currency wars are getting spicy. Buy gold, dummy.

[Anonymous No.18534053]

>>18534010
>with no privacy
no privacy from the issuer obviously it will be private as in your neighbour will not be able to see what type of dragon dildo did you buy this month.

[Anonymous No.18534075]

>>18534010
there are two key elements you are mistaken in
1 central banks don't see bitcoin as a threat
they are perfectly aware it could never replace fiat unless they fuck up so badly that there are no words for it.
2 they are more afraid of corporate sovereign currencies than real crypto stable coins by a landslide
they see the real threat in international conglomerates creating their own money and own markets that no country has control over becoming states over states. that's what they care about not your doge.

[Anonymous No.18534202]

>>18534075

>1 central banks don't see bitcoin as a threat

I was being flip. Bitcoin specifically is a joke, but they fear what else may emerge. If order of magnitude scalability improvement actually happens, crypto suddenly gets a whole lot more usable/threatening.

>unless they fuck up so badly

They're hard at work on fucking up as we speak.

Agree with point #2, at the present. Zuck will get kneecaped for getting to big for his britches. Though it doesn't change the outcome I described, they will go after all competition.

[Anonymous No.18534223]

>>18533952
>hard to trace criminal activity
you do know (((they))) decide what is criminal right?

[Anonymous No.18534292]

The current fiat currencys are essentially digital atm
There is more digital than physical money if i remember right
I believe they will try to erase cash completely with the next generation of fiat currency
Next fiat currency will be batshit crazy and basically a surveillance and tax system
Innoffical currencys will gain uses but crypto is impractical as fuck desu and to create and use a wallet that is untraceable is annoying af if i understand this right

[Anonymous No.18534302]

>>18533287
Based

[Anonymous No.18534359]

>>18534053
I would bet that the Swedish version would do exactly that
>they already can look up each others taxes
I hope this won't create a generation of beautiful Swedish golddigger hoes, but it will absolutely

[Anonymous No.18534375]

>>18534292
the hard part with crypto is generally making it trustless and secure against attacks from exploiters, making it anonymous is not the biggest hurdle

[Anonymous No.18534394]

>>18533066
Franchise > app translation to English > Change YUAN.JPEG to USD.JPEG

[Anonymous No.18534416]

>>18534375
But I'd still had to use an internet cafe or public wlan on an extra laptop every time i want to execute actions on the wallet to really be anonymous right?

[Anonymous No.18534549]

>>18534359
If it's any consolation, those gold diggers will all be gang raped by Somalians.

[Anonymous No.18534789]

>>18534292
>I believe they will try to erase cash completely with the next generation of fiat currency
yes but they looking to make offline transactions still possible. right now the digital cash only works online.

[Anonymous No.18534808]

>>18533066
>he doesn’t know
https://m.youtube.com/watch?v=jfx7PnMtCeY

[Anonymous No.18534934]

>>18534549
No they won't, the gold diggers check taxes beforehand