Cash can be spent without being monitored or blocked.

A recent example of how this might be relevant is with the protests in Canada that lead to the freezing of the protesters’ bank accounts by the government. While I don’t agree with the protesters, the idea of the government freezing their accounts is alarming. After seeing such control exercised, it’s hard to be excited about a cashless society.

For one, unlike cash, the issuing entity can program CBDC to expire on a specific date unless utilized. Another horror use case is that they could track and limit how many hamburgers or pizzas you eat daily, weekly, monthly or yearly!

When the government does something unpopular against its own people, they can easily quell protestors at scale and force the usage of CBDC adoption by closing ATM withdrawals [0] add savings limits [1] and can incentivise spending with an expiring date. [2]

Whilst many HNers were celebrating UPI as the payment rails from India, it is almost the same thing as FedNow and is planning to put their own CBDC on UPI called E-RUPI [3] taking all the same valid concerns that I have mentioned.

Do you really want this?

[0] https://www.pymnts.com/cbdc/2022/nigeria-cuts-atm-cash-withd...

[1] https://reclaimthenet.org/digital-euro-spending-saving-limit...

[2] https://bfsi.economictimes.indiatimes.com/news/policy/digita...

[3] https://indianexpress.com/article/explained/what-is-e-rupi-d...

It's bad enough that banks have virtually unlimited insight into my spending habits that we need to give the Feds the same access. I should have the right to buy a big mac without some government server getting pinged.

I’ve seen a lot of crazy conspiracy theories reveal themselves to be true in the past five years.

Apply some critical thinking on this. Governments and corporate elites worldwide are salivating over the level of surveillance and control that a CBDC will enable.

What has government ever done for us?

https://youtu.be/Qc7HmhrgTuQ

The ban on bearer bonds should be repealed. People worry about cash because it is the only legal option left.

It makes me question why we allow government to be in charge of our money, and the price of money (interest rate meddling by govt contractor federalreserve). I suppose we grow up with it and don't question it.