Fed Coin - Rumors that the dollar will be switched to a crypto currency otherwise known as "Fed Coin".

[Automaton Type 2B]

So what are peoples thoughts on this scenario?

Bitcoin ETH survival?

More loss of freedom and liberty etc.?

 

[Lord of the Large Pants]

I'm not really sure it's as interesting as people are imagining. All the stuff about stealing your money, attaching it to a social credit score, etc? They can ALREADY do that if they want, just to your bank account. It's not the technology holding them back, it's legal and social restrictions. Fedcoin doesn't change anything in that regard.

 

[ZazietheBeast]

At best, its yet another coin that they are trying to push. At worst, its going to be the only coin you're allowed to use.

Reality though its exactly like the Facebook coin that was pushed earlier. Its to get suckers to trade in their coin for the "officially endorsed" coin.

 

[Tsukasa Kadoya]

A test bed for a worldwide crypto based currency. While it might fail when compared to Bitcoin and Ethereum, it will give TPTB the info they need to implement a currency they can control and regulate at a moment's notice.
People are brushing off Fed Coin, but I would suggest paying attention to the implications of what Fed Coin could later bring about.

 

[Phalanges Mycologist]

I hate to sound like a Hippy or a Libertarian here but - Money is mostly a imaginary construct now since it's been separated from a physical asset a incredibly useful imaginary construct that we all need more off but it's one of those situations where it doesn't really exist anymore kinda things.

What matters is what you can do, what you know and what you can produce - that has and always be the real currency.

Atleast that's my personal take on digital currency let alone a state backed one.

 

[Toolbox]

I'm not really sure it's as interesting as people are imagining. All the stuff about stealing your money, attaching it to a social credit score, etc? They can ALREADY do that if they want, just to your bank account. It's not the technology holding them back, it's legal and social restrictions. Fedcoin doesn't change anything in that regard.

I think the fear here is more if physical dollars are completely gotten rid of for digital currency connected directly to the fed. At least in the modern world you can still have real cash and use it, and it's still printed and can affect the economy in a major way. Even if it's essentially worth squat without world trade relying on the US. If that's gone then any way to sidestep the government is, and those choices are already very slim.