Executive order 14067.
As the US Federal Reserve has been printing money hand over fist, you really trust them with a digital currency? Canada froze assets of protesters, how easy would it be to wipe digital accounts by "Big Brother" as punishment for non-compliance?
The great advantage of Bitcoin etc is the blockchain technology behind it. Totally transparent and most importantly, pure market driven without state interference.
Some are scared won't be able to use sanctions as a diplomatic tool anymore.
Someone really needs to scruitinise all the dictatorial executive orders the POTUS is making. There has been a lot and they bypass both House of Reps and Congress.
Cash is King, let's keep it and digital currencies can exist alongside.
Bitcoin is a joke. Let me paint rocks gold and call them money. The only thing I see so far in digital currency is that money can be put on a card one time or many times. I don't think we will stop this. Big Brother could do a lot of things as a punishment. Garnishment used to be one of them and I hear it is still done. I work for a corporation and never see my money. I can go online and see check stubs but the money goes right to my bank. This must be digital. My Social Security works the same way and so do my tax returns.
BTW, there is nothing Federal about the Federal Reserve Banks. They are private banking institutions.
@puff Blockchain currencies use massive amounts of energy (most of which is generated by burning greenhouse gas-producing fossil fuels.) That's reason enough to eschew bitcoin and its digital cousins.
Bitcoin is too high of surveillance now, I would go to pirate change, very private and safe. Trudeau is trying for everything digital currency.
@Flyingsaucesir Is it blockchain technology that uses power or mining? Are other crypto currencies who use blockchain technology able to be mined ie do they use lots of power too?
I honestly don't know and any clarification appreciated.
I see the way to go is every dwelling will be independently self powered as renewable power production and battery capacities improve with technology. What I'm saying is if it is the actual technology which chomps power rather than mining, this issue will be irrelevant if self power generation occurs.
I kinda agree bitcoin is a joke and used as a stock investment atm. But blockchain technology is quite brilliant and the way of the future.
All FIAT currencies operate on trust and good will. I always rip my paye out and use cash.