gladstein on Nostr: Legacy US dollars are NOT CBDCs The Fed does not directly issue digital cash to the ...
Legacy US dollars are NOT CBDCs
The Fed does not directly issue digital cash to the population right now
It issues cash (not a CBDC) and otherwise private corporations issue dollars
Tether is not a CBDC for many reasons but primary amount them is that it does not require ID to use
The central purpose of a CBDC is to surveil and track and control and this isn’t possible to do if you don’t know who is using the money
If Tether starts requiring KYC then maybe it can morph into a CBDC but then it loses most of its global value proposition
gladstein (nprofile…89xw) I heard you recently criticize the fact that some people argue tether/circle etc are not CBDCs because they aren't directly issued by the government. I would just like to ask how that isn't a distinction without a difference. Dollars are not issued by any government either... The federal reserve is as much of a private institution as tether is. The point is the US can absolutely survail and censor tether the exact same way they could with any stablecoin they issue directly. Do you care to add some context or provide a counter argument that would otherwise change my mind?
#asknostr
Published at
2025-05-09 17:28:10Event JSON
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"content": "Legacy US dollars are NOT CBDCs \n\nThe Fed does not directly issue digital cash to the population right now \n\nIt issues cash (not a CBDC) and otherwise private corporations issue dollars\n\nTether is not a CBDC for many reasons but primary amount them is that it does not require ID to use\n\nThe central purpose of a CBDC is to surveil and track and control and this isn’t possible to do if you don’t know who is using the money \n\nIf Tether starts requiring KYC then maybe it can morph into a CBDC but then it loses most of its global value proposition\n\nnostr:note19zeducvjmg4ey438lmxaz4wdytfyp0g7v25u4dfxcyea9sylfhxqqxsqjx",
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