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What is actually even the benefit of going to cryptocurrency if the government is going to control it, and be able to inflate it at will?

You end up with only very minor benefits. Basically, the current dollar already is a digital dollar, because most people pay using credit. Cards are slowly disappearing and being replaced with CashApp or other bank apps where you pay by scanning a QR code. So most of the benefits that a CBDC would present already exist with the current dollar.

The benefit of Bitcoin is that it is sound money – it is a limited supply, which means that it cannot be inflated. The government cannot rob you by printing money and making your money worthless. It is also a perfect balance of transparency, privacy and independence.

>What is actually even the benefit of going to cryptocurrency if the government is going to control it, and be able to inflate it at will? >You end up with only very minor benefits. Basically, the current dollar already is a digital dollar, because most people pay using credit. Cards are slowly disappearing and being replaced with CashApp or other bank apps where you pay by scanning a QR code. So most of the benefits that a CBDC would present already exist with the current dollar. >The benefit of Bitcoin is that it is sound money – it is a limited supply, which means that it cannot be inflated. The government cannot rob you by printing money and making your money worthless. It is also a perfect balance of transparency, privacy and independence.

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[–] • 0 pt

That just seems really unlikely.

[–] • 0 pt

Actually, governments are stockpiling gold like never before in preparation for a gold backed CBDC. When the dollar fails, how would they prop up a new digital dollar as a world reserve currency without stabilizing it to gold? Right now the most stable cryptos are "stablecoins" like tether, which are tied the the US dollar. No dollar, where will they tether it? My bet goes with the most trusted source of wealth preservation in the history of the world.

[–] • 0 pt

how would they prop up a new digital dollar as a world reserve currency without stabilizing it to gold?

We're talking about the Fed, right? How do they prop up the dollar? Is that gold-backed?

I mean that's great if the Fed wants to make a gold-backed currency, but I don't believe that's how they operate.

[–] • 0 pt

Signs are starting to point to it.

If the dollar fails as the world reserve currency, it would be because faith is lost in the US GOVT.

When they get to the point where they have to choose between a decentralized crypto based currency they can't control, and a gold backed digital dollar that the world elite will get behind, they will choose the latter.

Foreigners love dollars, so the US will contribute the name recognition of the dollar to the one world currency.