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Will you accept Central Bank Digital Currency? (CBDC)

Labeled as discuss in Domain Buying and Domain Purchases, started by DanSanchez, Jul 11, 2021

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?

Will you accept CBDCs for your domains?

  1. Yes!

    31.0%
  2. Maybe

    23.8%
  3. No!

    45.2%
Total: 42 vote(s)
  1. DanSanchez

    DanSanchez Earn Bitcoin 48hr.com VIP ★★★★★★★★★★

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    The rumors are correct, governments and central banks around the world are preparing a monetary shift equating to a "New Brettonwoods." There is the Digital Yuan, which is already in circulation and has over 10 million users, Digital Euro, which the ECB announced would be required for the Euro Zone, and the last one being FedCoin, the latest of the bunch with the most obscurity.

    Here is the President of the Bank for International Settlements, talking about "having complete control" over the money.

    https://mobile.twitter.com/Leve_raged/status/1412928948586127362

    Likely a measure to "slow" the coming tsunami of monetary inflation into the real economy. The impact on retail banks, existing debt, and the current denomination of labor/value is unknown, but I think it's important we truly identify some pain points before we land as an industry.

    My question to you is, will you accept CBDCs for your domains?

    If yes or no, I'm interested to know your perspectives.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Mister Funsky

    Mister Funsky Top Contributor VIP

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    There will come a time the governments will make any digital currency beside their own (or those they approve) illegal, aka counterfeit.

    China has a very serious plan to take over as leader of digital currency and hope to replace the dollar on the world stage as the dominant form of global exchange. I encourage anyone who has not kept up with what they are doing to giggle 'China gives away free digital currency'. The US (as well as other countries) are scrambling to get strategy and systems in place.

    For me, I will accept any method of payment (bitcoin, eth, xrc...classic cars, stamps, cattle, etc) as long as I can conveniently and quickly convert it to US dollars.

    Of course, I could be wrong.
     
    Last edited: Jul 11, 2021
  3. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    There certainly seems that there is going to be some kind of a revolution in the currency and monetary systems around the World in the near future.

    But

    Before we change things so drastically one way or another we need to consider what money exactly is and what role it plays in our lives.

    We need to recognize that for the past five thousand years or so money has made us to live in an era of slavery that has been based on the system of haves and have nots and if we are going to bring this era to an end we should know exactly what we want to expect of any new era that we are going to enter into since most likely we might not get another chance to make such drastic changes for a long time to come once a new kind of slavery system takes hold in the World.

    We need to end this era of the haves and have nots. It doesn't matter whether we use money, gold, or digital currency, if the economical system is going to cause so much pain and suffering for some while allowing certain others to live in a life of luxury and excesses then we have failed in our duty to the future generations.

    Dan, as a family man who might have been struggling at times to make ends meet you and millions of other people like you need to ask yourselves why should money stand in the way of people of being able to live a decent, righteous, productive, safe, and happy life.

    We need to ask ourselves why should someone who is sick need to have money to get medical attention, and why are so many people going hungry because they don't have enough money to buy food.

    We have gotten so used to this slavery system that money has created for us that we automatically blame people who are financially struggling to make ends meet and think of them as being somehow responsible themselves for the situation that they are in with total disregard of the fact that there are countless number of decent, intelligent, and hardworking people who are currently struggling to make a living at no fault of their own and it's just their bad luck that they are living in the year 2021 instead of the year 2121 when things might hopefully become much better.

    But why do we have to wait a hundred years to do the right thing if we already know what all the problems are.

    And that goes beyond just the problems with money as we should accelerate our evolution towards making this a better World for everyone by gaining control over our destiny specially when it comes to some of the other issues that we are facing such as the Environment, AI and Automation, and Human Rights which include having adequate and timely healthcare, food, shelter, and education.

    So it is time to make some changes, but lets use our intelligence and design a whole new system that can free us from the status quo that exists around the World with all its faults and shortcomings.

    As I have been saying all along we need to find common grounds over the Universal Values and Principles that are derived through Logic and Compassion and we need to design a whole new era that would allow us to rid ourselves of all that has been ailing us and our World in order to finally be able to become a Force For Good.

    IMO
     
    Last edited: Jul 11, 2021
  4. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    Hi

    hey, don't F with the $ bill

    yuan't :) gonna change the setup

    when other money isn't rated against the $ bill, then who and what will the world do to restore order?

    imo....
     
  5. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com VIP Gold Account

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    I'd accept it then buy gold or silver.

    Governments are realizing or have always known there is too much untraceable money out there not being taxed.

    Examples.

    1. Tips (waiter or bartender or exotic dancer or Christmas money to condo employees or delivery people)
    2. Under the table jobs. Pretty much anyone but most problematic to any Gov is illegal aliens(restaurant or corner deli helper or construction/gardener/landscaper helper or babysitter)
    3. illegal whatever . Fake handbags and watches. Cocaine marijuana controlled substances, prostitution, human trafficking, stolen goods.

    I believe now more than ever Gold and silver will go up in value because these will be the only way to hide money literally if all money goes digital.

    Why will gold and silver prices go up? Well the usual stuff but also those most affected by this change.

    Criminals, undocumented or under the table workers.

    Prediction. Imagine your Mexican deli worker or car washer or gardener or construction worker not accepting your American digital currency but instead wants a gram of gold for days worth of work.

    The worker given this money will then only deal with under the table businesses who will give them the things they need to survive. Food,drink, clothing and apartment rental. All paid secretly with Gold and silver.

    Or if they need to send money back home they will use underground network. Pay a gram of Gold at your local Bodega and your family in India or Mexico will get 80% of that gram of gold.

    These gold pieces or silver whoever holds on to them I doubt they will ever cash it because it will be a taxable event if cashed in digital currency.

    So we will begin to see this secret underground currency flowing healthy under the surface of society being used by poor people just trying to eek out a living who don't want to pay taxes or criminals or illegal aliens or even rich people who want to skip paying taxes.

    It's no wonder there are many stories about Governments like China stock piling Gold.

    They know what's coming.

    Let's also not forget that bartering is becoming a new trend these days. This would be hard to tax.

    If I paid you in Chickens for Air Jordans how would Uncle Sam tax that event. Lol

    Or I babysit for you and you dry clean my clothes.

    Or I will work for food and board.

    a ridiculous scenario but definitelly possible but also from a tax perspective I'm no expert but its like a 1031 exchange.

    There are those who are already ready for this paradigm shift. I saw this come out like in 2010.


    Valcambi Suisse 100 x 1 Gram Gold CombiBar (3.215 oz) with Assay Card

    upload_2021-7-11_13-39-28.png
     
    Last edited: Jul 11, 2021
  6. lambo.com

    lambo.com 445.com VIP

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    Thank you for your question and bringing a critically important thought experiment forward.

    Yes, I will.

    The State has a monopoly on violence, medium of exchange and deterministic oligarchal rule.

    Cryptocurrency has a monopoly on financial freedom yet the official currency of the State will not fade into oblivion.

    Goods and services with the taxation burn payable by decree in the Gov't Fiat by all market participants (everyone), are the dependency alone giving a worthless currency a huge meta value.

    Therefore, as a State compliant Actor emboldened by freedoms innate in the Constitution, one can focus on a freedom-centric meta identity with legacy crypto as well as partitioning State signaling Fiat holdings and Assets of the Land.
     
    Last edited: Jul 11, 2021
  7. lambo.com

    lambo.com 445.com VIP

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    Accept the suffering
     
  8. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    All nice words, but sounds like you only want what's good for you personally which might not necessarily be good for the World and the future of Humanity.

    IMO
     
  9. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    Now what happens when some of these countries and private companies start mining the many astroids that are out there which some of them might contain a lot of precious metals including gold.

    Gold might become as cheap as aluminum.

    IMO
     
    Last edited: Jul 11, 2021
  10. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    Some people think that the Digital Currency is the future, but why not go one step further and have Digital Management of peoples needs and wants. (soon AI will be capable of doing that, for all 10 billion of us).

    IMO
     
  11. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com VIP Gold Account

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    thought of that. it's be discussed already before.

    any and all materials mined outside of Earth will remain outside of Earth as a form of currency or commodity for future interplanetary exploration and colonization.

    translation? There will be trillionaires on Mars,Jupiter, Pluto, Venus.

    sure that money will eventually land in the pockets of the wealthy on Earth but as a rule the trading of such mined products will happen in outer space as to not destabilize the wealth here on Earth.

    as sudden surplus of Gold in our Earth supply will surely drop the price of gold.

    in that scenario you will see the creation of an interplanetary "border partol" making sure "contraband gold" will not end up in Earth markets.

    The best depiction of this type of future is in the syfy.com show The Expanse. Pretty interesting show.
     
  12. lambo.com

    lambo.com 445.com VIP

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    Correct, I am here to focus on my life and things inside of my control. The net impact of a society of individuals seeking to have their houses in order (literal and figurative) - is a society to be proud of and worth fighting for. Some may endeavour to focus on local citizenry and contribution will others may propagate a national pride to others.

    Utopian notions of a profound anthropomorphic family under God the Father where we are all building the Kingdom of Heaven on Earth, mitigating suffering and singing Kum Ba Yah together is nice and certainly worthy on Earth, but that happens in communes or communities where like minded persons can build together and invest in one another.

    Diversity includes everything, including Satanists.
     
    Last edited: Jul 11, 2021
  13. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    Hi, please tell @lambo.com that the only way that we can have a civilized society is for everyone to respect the rights of others and not to try to impose or force their ideologies on everyone else.

    For the record I do believe that people who fanatically pursue thier political, religious, and racial beliefs and agendas to the point of becoming extremists are only half a person untill they are able to free themselves of all the forces that want to bind and control their mind.

    IMO
     
  14. lambo.com

    lambo.com 445.com VIP

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    That's just your belief system.

    One is entitled to scorn those of nefarious dispositions and actually stand for something instead of naive celebratory platitudes for all including those trying to make your kids gay or gender bending or those with fear inspired cowering attitudes etc..
     
    Last edited: Jul 11, 2021
  15. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    Please tell @lambo.com that he is entitled to have those beliefs regardless of how unacceptable they might be to others, but if he starts putting those beliefs in to action then he will no longer be considered a part of the civilized society.

    I don't want to take Dan's thread off topic and so I shall make this my last response here.

    IMO
     
  16. robs01

    robs01 Established Member

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    Nah. Resist digital currencies at all costs. Do not be fooled or coerced or bribed into adopting it. It's all about control. Just like they have already started to control the internet/websites and shut them down, they will do the same to YOU and your currency when you dare say that CGI Joe (the hand in front of the microphone layer) is not a legit US president, or any other inconvenient truth. For domainers, you should already have seen some wrong stuff by registrars telling you that you cannot register or sell certain domains (covid) or host them because their "fact checkers" say it's all false (but who appoints and checks the "fact checkers"?)

    Go back to cash. I withdrew 2 x AUD$10k IN CASH from my superannuation account (IRA to those in the USA) and pay cash where I can, except online purchases and direct debits. This cash=crime/terrorism is just propaganda. "They" won't be happy until you are completely submissive and at their mercy and their slave. Fight it at all costs, even if it means you miss out on some alluring bait offers.
     
  17. zomainhacks

    zomainhacks Top Contributor VIP

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    The true question is: "We will be able to accept non-government currencies?"

    What is going on is very concerning for our freedom.

    They arleady get used to restrict our freedom for the sake of curbing covid spread and economic liberties are under attack as never before.

    If in your country voting is a thing, make the difference and vote for the few that still stand for freedom.
     
  18. DanSanchez

    DanSanchez Earn Bitcoin 48hr.com VIP ★★★★★★★★★★

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    The way CBDCs are being structured is definitely geared towards control, would domains qualify as "non essential purchases" in this new world? Controlling inflation is likely the only use-case they'll be able to sell as a reason for having central-bank control on how you spend.

    Cash is tough, they will eventually turn those pieces of paper into collectibles by devaluing them so quickly, you won't be able to spend them fast enough. That is the purpose of monetary inflation. Also, good luck trying to get more than $15000USD out of a bank without getting questioned and having to wait a few days. Banks are simply not designed to have this sort of demand on cash anymore.

    "We will be able to accept non-government currencies?"

    The real question is, how can they stop you? China fails miserably every time they try. They are the "innovator" that can't compete with Bitcoin.

    Thanks all for your input so far.
     
  19. RogueWriter

    RogueWriter Top Contributor VIP ★★★★★★★★★★

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  20. robs01

    robs01 Established Member

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    In Australia the limit is AUD$10k or if the bank feels suspicious about the scruffy and unshaved man standing in front of them then they can choose to fill out that government cash transaction notification form from $5k upwards.

    I can't see myself having to withdraw such an amount in one hit in the near future, but if I ever do... boy will I give them an earful. In the explanation section telling them why you need it, my opening line will be "No, I'm not a f%[email protected] criminal or terrorist". Then follow with something like "The real criminals are the banks and infiltrated governments who support them to counterfeit currency and steal the labour of the people. In 2015/16 many governments gave themselves (lawless) "lawful" powers to bail-in (ie: steal) peoples' bank account balances to "save" those criminal banks, hence the need for me to withdraw my savings and have it 100% in my possession." (Note that I did not say anything unlawful so they can go to hell if they don't like it.)
     
    Last edited: Jul 12, 2021
  21. Hankish

    Hankish Established Member

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    CBDCs have been talked about a lot on LinkedIN and old school fin-forums. Pointless for the masses if the "gas" is not cheaper than transaction cost now (visa,master card) or faster than ACH.

    Expect payment services (visa,master card, swipe, paypal,..) to lobby against it or de-fund politicians :) .
    As for the Euro token, the ECB is only starting a multi-year research thing (5y+). I dare say only to bring interest into the Euro (FX) itself, just keeping the new blood interested. Although, Central banks do not Have to be chainbased or defi; points on that.

    The item to watch is the target user. Is this B2B or B2C linked? For now it seems most propaganda is b2c linked; aiding customers in buying online with ease. Int'l B2B would still face ye-olde forex problems.

    The higher the country is ranked for Int'l currencies the less they benefit from state-coins.​

    HOWEVER!! do not over look the fact that the boys (&gramps) at top might come up with away to use these as some form of treasury bond scheme. And worse, centralized-tokens are easier, darn easy, to track. On-shoring might be only done by tokens in the future.

    But as for now it is too novel. Just like arcades make you use tokens instead of quarters, it's really all the same*. It's a non-investable that's only good for the merchant in proof-of-funds / transaction speed.
     
  22. DanSanchez

    DanSanchez Earn Bitcoin 48hr.com VIP ★★★★★★★★★★

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    The ECB posted a Press Release today,



     
  23. NameMagnet

    NameMagnet Established Member

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    The entire conspiracy is about the new control over population and money, the covid-hysteria is a preparation for these new currencies, over government-blockchains, tied to chip's. This is not a theory, but facts on the table. The tech is there already. Just think this: central banks will operate directly with people, so private banks are pushed out of the game, by central banks and by big 5 tech giants.

    That's why bitcoin was created by the banksters to save them self, they created them self a new niche.
     
  24. DanSanchez

    DanSanchez Earn Bitcoin 48hr.com VIP ★★★★★★★★★★

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    That's taking it a bit far fetched, the central banks do want control of the money, but to "limit inflation" as a vehicle of containing the messes they themselves created. Bitcoin could have been created by the NSA themselves, sure. But it's entirely open source and the cryptography that secures it, also secures major infrastructure portions of the internet and requires an enormous amount of energy to break a single encryption string. It's unstoppable and as more individuals join to secure the network, it becomes stronger every day.
     
  25. Robin A.

    Robin A. Established Member

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    Unfortunately we will have no choice but to accept government digital currencies. Total control is the ultimate goal of the central banks. But just like whoadomain, I convert some of my fiat to CGT free gold and silver. Just in case the entire world "is gifted" the same fate as Venezuela's hyperinflation.
     

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