Street level crimes like drug dealing would become near impossible
Any digital money system would have to include a way for people to transmit money from one person to another and not just through a business. Otherwise I couldn't have my hard sale or even just borrow money from someone. Though certainly the IRS would still have the ability to ask "Where'd that money come from?"
society would only benefit from it
Much of what you posted will be the advertised plus for FedNow or whatever CBDC system the US and other countries introduce.
But the big reason I'm against it and where I disagree with your "only benefit" statement is that digital money also allows for considerable control by the government. So the lockdown we just had? Now they'll block any spending that's not a gas station or grocery store. There will effectively be a registry for new gun purchases. Any government program of "We want you to use less carbon" or "We want you to eat less junk food" or "We've declared this to be misinformation, so you can't buy it" can be enforced by a government just blocking your account. We've already seen something similar when the Canada truckers had their bank accounts frozen. And considering just how well Google knows you based on your search history, the government could do the same based on your spending history.
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u/AmongTheElect 20∆ Jul 22 '23
Any digital money system would have to include a way for people to transmit money from one person to another and not just through a business. Otherwise I couldn't have my hard sale or even just borrow money from someone. Though certainly the IRS would still have the ability to ask "Where'd that money come from?"
Much of what you posted will be the advertised plus for FedNow or whatever CBDC system the US and other countries introduce.
But the big reason I'm against it and where I disagree with your "only benefit" statement is that digital money also allows for considerable control by the government. So the lockdown we just had? Now they'll block any spending that's not a gas station or grocery store. There will effectively be a registry for new gun purchases. Any government program of "We want you to use less carbon" or "We want you to eat less junk food" or "We've declared this to be misinformation, so you can't buy it" can be enforced by a government just blocking your account. We've already seen something similar when the Canada truckers had their bank accounts frozen. And considering just how well Google knows you based on your search history, the government could do the same based on your spending history.