Re: How much longer until paper money is no longer in circulation?
Both of you are very much on the money with your opinions. The fact is that we don't have a crystal ball so we can't be sure if it will play out in a way where people can still survive tyranny or if it will be a dystopian chain of events that forcefully effects freedoms.
I think that if Monero and Zcash (as well as other privacy protocols) don't sell out and maintain the integrity of their systems, then regulation shouldn't matter too much. Security is in the hands of developers as well, but to an extent also in the hands of the user.
I just hope that when the transition is toward its completion, that people can still work their way around the forceful use of CBDCs and have a way to maintain privacy legally.
I think that if Monero and Zcash (as well as other privacy protocols) don't sell out and maintain the integrity of their systems, then regulation shouldn't matter too much. Security is in the hands of developers as well, but to an extent also in the hands of the user.
I just hope that when the transition is toward its completion, that people can still work their way around the forceful use of CBDCs and have a way to maintain privacy legally.
If Monero and Zcash were to please the regulators, there's always a "Plan B". The community could fork out of these chains and carry on as usual. That's the beauty of decentralization and open source. You won't get this with a CBDC controlled by both the government and the central bank. You'll be a complete slave subject to the desires of these two entities alone.
With paper money, you'd get a certain level of freedom due to its tangible nature. It can't be traced or restricted at will, unlike a CBDC. The transition will be a slow and steady one, especially when not everyone is used to digital payments yet. This could take decades to complete, so let's all enjoy paper money while it lasts. Just my thoughts
