Post
Topic
Board Economics
Re: Vietnam Becomes Latest Country to Turn to Crypto
by
bryant.coleman
on 05/07/2021, 13:30:45 UTC
Yeah, I thought the same.

It is in line with other central banks in creating centralized state-owned cryptocurrencies. The same old crap but digital. The only good thing I see in this is that people will not see Bitcoin as weird when they are used to pay with their fiat cryptocurrency.

The problem is that if the CBDC is there, then the government may not permit proper cryptocurrencies. As I mentioned earlier, China is already moving in this direction. CBDCs doesn't have anything unique about them. They just plagiarize the code from existing cryptocurrencies, and are then incorporated to the fiat currencies. Now the advantage for governments is that they don't have to spend valuable paper and ink to print banknotes. Everything can be done digitally with minimal expenses. This is the ultimate wet dream of every central bank around the world.