this post was submitted on 07 Apr 2025
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If done right(it won't be), it could replace cash.
But you know it won't be. They'll control the backend of it entirely and it will never be any sort of open standard that isn't endlessly mintable or manipulated by their whims and wishes.
At this point, I wouldn't be surprised to find the US lying about what it prints to curb inflation. Could you even imagine that with zero oversight?
how are you people still doing this. every other cryptonut on the planet finally moved on from this talking point in 2022 when it was very clear that beenz.com was and is not the backbone of any kind of stable anything
and, for the love of god, having the economy slightly inflationary, physical, fiat, not public, and manipulatable by an administration according to changes in market demand -- is a goddamn feature of the system, not a bug. it's actually both good and critically important that the US is capable of changing things like interest rates to maintain an economy
Why is everything as free and open as it can be but the second someone suggests doing it to cash, you all have a universal meltdown?
Double standards, much? I hate the crypto market but I saw the potential in the technology. It could have a use but goddamn forbid, right?
In what world is crypto free and open? Never mind the fact that the public ledger is undercut by the difficulty of tying a wallet (or wallets) to specific people, which is possible enough to make transactions traceable for the average person while letting sufficiently motivated bad actors hide their behavior from observation in a way physical cash doesn't, the entire infrastructure is controlled by either whoever happens to have the biggest share of the crypto token or whoever has the most real money to buy server hardware and electricity.
Unless you want to talk about actual private block chains like they seem to be suggesting here, in which case you're literally dealing with a wildly inefficient but otherwise unremarkable database. If you think that replicating the ledger across multiple servers at different HUD locations is somehow more secure or open then I've got bad news for you about how modern IT infrastructure is already set up.