I understand that Monero is a privacy coin. I would buy some and use it, but in the Chinese credit system you talk about, what is to prevent the powers that be from penalizing businesses that accept Monero? Or even without a credit system, couldn't the govt outlaw Monero and threaten to shut down businesses that accept it?
When the Central Bank Digital Currency is launched, there will be a huge black market that is started. Free markets work, regardless of what interference the government puts out there. Even if businesses get in trouble for using Monero, there will be all kinds of under the table transactions that happen in the real world - and these under the table transactions will be right and honest. It's the CBDC that will be corrupt and dishonest.
Thanks so much for the reply! I'm very tech/crypto illiterate (I'm 79), but I would like to invest in Monero. Do you recommend Cakewallet as advertised on Monero Talk? Also, have you heard of Qortal? Another entity I would like to be a part of, however joining it is beyond me! Thanks so much for all you do! Susan
I understand that Monero is a privacy coin. I would buy some and use it, but in the Chinese credit system you talk about, what is to prevent the powers that be from penalizing businesses that accept Monero? Or even without a credit system, couldn't the govt outlaw Monero and threaten to shut down businesses that accept it?
When the Central Bank Digital Currency is launched, there will be a huge black market that is started. Free markets work, regardless of what interference the government puts out there. Even if businesses get in trouble for using Monero, there will be all kinds of under the table transactions that happen in the real world - and these under the table transactions will be right and honest. It's the CBDC that will be corrupt and dishonest.
Thanks so much for the reply! I'm very tech/crypto illiterate (I'm 79), but I would like to invest in Monero. Do you recommend Cakewallet as advertised on Monero Talk? Also, have you heard of Qortal? Another entity I would like to be a part of, however joining it is beyond me! Thanks so much for all you do! Susan