Fed Coin ..US DIgital dollar ..

by Odahh

Posted: 4 years ago 11 replies

OFF TOPIC

Well ,

has anyone else been watching the developments on this ..at this point how it will work it seems .. is that citizens of the USA will be able to open an account with the federal reserve .. and if certain condition are going on in the economy the fed will deposit digital currency into the account ..

now i saw that part and its not in the information i have found .. but i think the total amount in the account might be a hard cap ..so you cant save it up for two years and go buy a car for cash ..

now what i didn't think of was in agreeing this .. would allow the fed will track everything a person spends this digital money on ..and aggregate that data so the fed can track where all the money is being spent ..

anyone have links to articles ..published in the last few days that explain it better ..than the fed hating gold bugs are doing ..

Jeffery

4 years ago

Originally Posted by Odahh

Got a link?

Originally Posted by Odahh

now i saw that part and its not in the information i have found .. but i think the total amount in the account might be a hard cap ..so you cant save it up for two years and go buy a car for cash ..

Got a link?

Originally Posted by Odahh

now what i didn't think of was in agreeing this .. would allow the fed will track everything a person spends this digital money on ..and aggregate that data so the fed can track where all the money is being spent ..

Me personally, I don't care if the fed tracks anything and everything, especially terrorist, scammers and the NWO flavor of the day.

Originally Posted by Odahh

anyone have links to articles ..published in the last few days that explain it better ..than the fed hating gold bugs are doing ..

Whats so hard to understand the explanations the fed gold bugs are doing?

~ ~ ~

There are worse things than the a Fed backed digital currency program. The thing is "Nobody is forcing anybody to participate", so if someone doesn't like it and if it is not their cup of tea they can go a different route.

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Matthew Stanley 4 years ago

This is the most recent article I could find on this. Is this what you're referencing? Article's writer makes some inferences, but hard to tell how "real" some of the plans are...

https://news.bitcoin.com/us-federal-...ael%20Brainard.
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Kay King

3 years ago

.published in the last few days

Nothing official since August - at least nothing new I could find - this won't be a fast moving train...

he most important thing is that I feel more freedom here than on the streets of my city. Here I can play in fairspin as long as I want, I can communicate with anyone I want, say what I want. I can visit the darknet for any information, if necessary. What do you think about this?

The internet is a virtual 'world' - you can't LIVE there without also living in the real world. You still have a REAL life and responsibilities unless you are financially supported by someone else. Any place where everyone can do what they want with no rules or limitations may eventually become chaos.

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Odahh

3 years ago

Originally Posted by Kay King

I don't believe you will get a full story by reading bitcoin news but maybe that's just me...various bitcoin sites/news have been claiming BC will take over the world...for how many years now?

https://www.federalreserve.gov/newse...d20200813a.htm

https://www.forbes.com/sites/jasonbr...h=2d45d5dc5946

https://www.bankingdive.com/news/dig...eserve/587374/

Nothing official since August - at least nothing new I could find - this won't be a fast moving train...

The internet is a virtual 'world' - you can't LIVE there without also living in the real world. You still have a REAL life and responsibilities unless you are financially supported by someone else. Any place where everyone can do what they want with no rules or limitations may eventually become chaos.

i hadn't bothered to add to this thread ..in the USA for reason i can talk about on this forum .. it will be february or march before the train can start moving .. as the fed can't just start doing this ..

but Central bank digital currencies are being worked on buy every major government ..to replace the current monetary system and remove the US dollars from being the reserve currency..central bank digital currencies and a new system for cross border payments that makes it faster and cheaper to send money around the world ..

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Kay King 3 years ago

I have no doubt there will be digital bank services, digital currencies that span global financial institutions.

I don't think they will be 'bitcoin' based.
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- Odahh 3 years ago
  
  Originally Posted by Kay King
  
  I have no doubt there will be digital bank services, digital currencies that span global financial institutions.
  
  I don't think they will be 'bitcoin' based.
  
  the state or central bank digital currencies will not be bitcoin based .. and i highly doubt it will be backed by one thing.. ..because the dollar has been the reserve currency it also has been the only currency oil could be traded in ..which is part of what backed the value of the dollar ..
  
  the biggest pain with the current system is moving money around the world or even from one part of the US to another .. ..because of the worldwide nature of the economy and ecommerce .. making it as easy for me to send 100 dollars to you to buy something ..from you anywhere in the world ..as it is if i could just hand you cash . and without the current fees .. though it won't have the anonymity cash does ..
  
  bitcoins will be the suitcase full of cash of the digital age .. not the currency you buy breakfast or bread with ..
  
  in my view and it is my view the planet only has one economy ..and more money get spent at some parts than other .. the better way to fuel a worldwide recovery ..is to make world wide flows of small amounts of money effortless .and costless .. but for safety .. 100 percent trackable ..
  
  if you want annonymity .. barter and trade on a local level
  
  Thanks
  
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- Kiwigal 2 years ago
  
  Banks all over the world are now buying and selling Bitcoin - so my guess is they believe it has a value.
  China has been one of the largest buyers of Bitcoin and is now introducing their own digital currency.
  My bet is Bitcoin and a few other cryptos will supersede all other currencies and precious metals.
  
  Thanks
  
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Matthew Stanley 3 years ago

somewhat pertinent here ... U.S. Senate banking committee hearing today revealed that " today, over 60M Americans own some type of cryptocurrency." Even more than I'd have guessed!

https://www.banking.senate.gov/imo/m...2011-10-20.pdf
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pierseon7 3 years ago

I'm no expert in economics. This is a good thing for bitcoin and leads to its growth, right?
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- Odahh 3 years ago
  
  Originally Posted by pierseon7
  
  I'm no expert in economics. This is a good thing for bitcoin and leads to its growth, right?
  
  China is testing out and expanding the program ..it has nothing to do with with crypto .. once the laws get passed.. it is basically the fedral reserve of the USA .. depositing money into the accounts of citizens ..
  
  any more explanation than that involves to much mention of politics ..
  
  Thanks
  
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gustavowoltmann123 Banned 3 years ago

Great article and Very less people have knowledge of this. But you are explaining good information . Gustavo Woltmann
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Fed Coin ..US DIgital dollar ..

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