It does raise interesting issues.

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It does raise interesting issues.

Author: NedoftheHill (43224 Posts - Joined: Jun 29, 2011)

Posted at 2:19 pm on Apr 25, 2022

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Local gas station gets tired of inflated US dollar, and starts accepting payments in digital pounds or digital yuan. Foreign currency could become more accepted in US transactions, just like the USD is accepted in many countries in Latin America...only you don't need the actual physical cash.

I haven't thought all this through. Interesting issue, though.

This message has been edited 1 time(s).

Evil preaches tolerance until it is dominant, then it tries to silence good.

Replies to: "It does raise interesting issues."

China is ready to roll out 1rst major centrally backed cryptocurrency. We are way behind & this is a [LINK] - BaronVonZemo - 1:16pm 4/25/22 (24) [View All]
- Nope will never happen. I would short anything China does on the international stage. [NT] - PBHangingChad - 8:05pm 4/25/22
- Geeze - Nigel Tufnel - 3:25pm 4/25/22
  - This is a big deal, but Lance referenced end days. We need to get going. - BaronVonZemo - 5:46pm 4/25/22
- Looks like a digital currency tied to the Yuan & controlled by PRC cBank, not a cryptocurrency. - NedoftheHill - 2:15pm 4/25/22
  - The dollar index is at the high for the past year and has rallied over 11%. - Iggle - 3:43pm 4/25/22
    - Yeah. The hacks are of exchanges, not the cryptocurrency itself. The PRC just made an exchange. - NedoftheHill - 4:06pm 4/25/22
  - Correct, it is intended for the domestic market. - LanceHarbor - 2:17pm 4/25/22
    - It does raise interesting issues. - NedoftheHill - 2:19pm 4/25/22
      - That's a pretty advanced local gas station. - LanceHarbor - 2:28pm 4/25/22
        Ever heard of an app? - BaronVonZemo - 5:43pm 4/25/22
        
        But that is kind of the point. Digital currency will become accessible to all. It is digital. - NedoftheHill - 2:30pm 4/25/22
        It's available right now. - LanceHarbor - 2:40pm 4/25/22
        El Salvador (the entire nation) accepts Bitcoin as legal tender. - NedoftheHill - 2:42pm 4/25/22
        This was before their corrupt president made that official. - LanceHarbor - 2:48pm 4/25/22
        Right. John Doe takes the easy route, until it becomes too costly. Then he chooses next best option. [NT] - NedoftheHill - 2:51pm 4/25/22
        That's right, I forgot about the hyperinflation in your scenario. [NT] - LanceHarbor - 3:28pm 4/25/22
        I'm certainly not going to bet against the dollar...but I'm not above hedging a small portion. [NT] - NedoftheHill - 4:12pm 4/25/22
- Worse than that, the days of the Dollar as World Reserve Currency are numbered..Reason: profligacy- - CapeIrish - 1:57pm 4/25/22
  - Heard a great exposition on this - we have not prioritized it until very recently. We're yrs from a - BaronVonZemo - 2:06pm 4/25/22
    - I think legal entities should be hesitant to allow the PRC to hold their money for them. - NedoftheHill - 2:16pm 4/25/22
  - Who knew the end is so near? - LanceHarbor - 2:03pm 4/25/22
    - Probably nick some off Chris. He predicted doom and gloom every day of the Trump presidency. - Stark Raving Dad - 2:30pm 4/25/22
      - So, you think the USD will remain solid forever?...or just beyond your lifetime? [NT] - NedoftheHill - 2:33pm 4/25/22
- So dramatic...always. - LanceHarbor - 1:55pm 4/25/22