Digital Currency

Not comply. Maria has spent the last 2 years "praticing" using cash. Don't take cash, don't get our busness.

Interested, any word what pyshical form it will take.

Quote from: Rick on September 16, 2023, 04:51:30 PMNot comply. Maria has spent the last 2 years "praticing" using cash. Don't take cash, don't get our busness.

Interested, any word what pyshical form it will take.

The Ruble? It seems more stable than the dollar at the moment.

Quote from: Rick on September 16, 2023, 04:51:30 PMNot comply. Maria has spent the last 2 years "praticing" using cash. Don't take cash, don't get our busness.

Interested, any word what pyshical form it will take.

This article describes in general how a digital currency works.  Some countries have already  started using a digital currency: Bahamas,

It will be accessible and usable via either an "app" that runs on a smartphone or a digital card similar to a bank or credit card. I do not see a practical and foolproof way to make this kind of currency both anonymous and isolated from government tracking/control.  I prefer the old fashion cash version of monetary assets. I have seen a number of articles and references to persons who have had their digital currency (bitcoin)"wallets" compromised and ALL of the bitcoin stolen, with NO WAY to recover them; no implementation of software to control assets is perfect or immune from hacking.  At least with cash, if your wallet is stolen, you only loose what was in it, and unless someone tracks the currency serial numbers an knows that you have in your possession said currency, completely anonymous...

So, whats differant than our current debit card? You hear story's about being chipped, mark of the beast ect, ect. Was wondering if anyone has actually seen it.

Quote from: Rick on September 17, 2023, 01:31:22 PMSo, whats differant than our current debit card? You hear story's about being chipped, mark of the beast ect, ect. Was wondering if anyone has actually seen it.

Just a wild ass guess, digital currency will be world wide control, debit card/credit card is only country control. Remember, just a wild ass guess. I can see no other need for digital if everyone, or most, are already using plastic. I have the same question you have and can not really find a legitimate answer. That guess does eliminate countries currencies, which would fall in line with the one world order. Here's one more wild ass guess, or question, I wonder how much wealth will disappear from the common people when the system changes over?

Quote from: Possum on October 21, 2023, 06:44:50 AMI wonder how much wealth will disappear from the common people when the system changes over?

Thats a good question.

Wifes been praticing. Check comes in, goes down takes out most in cash. Pays in cash. The exception being the mortage.

Quote from: Possum on October 21, 2023, 06:44:50 AMJust a wild ass guess, digital currency will be world wide control, debit card/credit card is only country control. Remember, just a wild ass guess. I can see no other need for digital if everyone, or most, are already using plastic. I have the same question you have and can not really find a legitimate answer. That guess does eliminate countries currencies, which would fall in line with the one world order. Here's one more wild ass guess, or question, I wonder how much wealth will disappear from the common people when the system changes over?

I will be in Nassau next week and will see what I can find out about the Bahamian "Sand Dollar" digital wallet/currency...

Quote from: Rick on September 17, 2023, 01:31:22 PMSo, whats differant than our current debit card? You hear story's about being chipped, mark of the beast ect, ect. Was wondering if anyone has actually seen it.

I suspect there will be a digital "wallet" that currency is credited into and debited out of.  The digital wallet is the weak point, whoever controls access to that wallet will be the final arbiter of who can access it.  I suspect that other controls could be developed, such as "valuing" what is in the wallet based on the current value of the wallet currency; such is done with Bitcoin and others. However, currency valuing is already done for multi-country transactions (i.e. "exchange rates"). I know when I was travelling overseas if I purchased something with my credit card the exchange rate was applied at the time of the purchase; it was up to me to try to figure out how to get proper business reimbursement of expenses in this scenario, and I usually wound up on the losing end of it   

Quote from: VVet69 on October 21, 2023, 09:11:53 AMI will be in Nassau next week and will see what I can find out about the Bahamian "Sand Dollar" digital wallet/currency...

I would be interested.  Pictures would be nice.

As an aside. The current chips are very delicate. Every Walnmart has several machine that destory chips. Look for the counter with the warning not to place your card here. So how is it replace. Do you lose the money on it. How about hacking, is the money replaced?

Quote from: VVet69 on October 21, 2023, 09:11:53 AMI will be in Nassau next week and will see what I can find out about the Bahamian "Sand Dollar" digital wallet/currency...

No sign of Sand Dollar that I have seen and pretty low adoption right now.  Here is a recent update about the initiative.

Quote from: VVet69 on October 25, 2023, 05:15:53 AMNo sign of Sand Dollar that I have seen and pretty low adoption right now.  Here is a recent update about the initiative.

Thank you. The article talks about "digital wallets", guessing thats the form it will take.

Here's what these Marxists are up to currently.
They are removing ATM's nationwide.

Quote from: Rick on October 25, 2023, 07:59:43 AMThank you. The article talks about "digital wallets", guessing thats the form it will take.

DISCLAIMER:  These are my thoughts only, I am by no means an expert here 

The Digital Wallet and digital currency are similar to your ATM Debit Card.  You debit card number is your Wallet and the balance in your ATM card account is your digital currency.  You would present a digital wallet for payment in the form of a smart phone app or likely another type of card, and the transaction would move money from your wallet to the sellers wallet or account. You could also be paid by your employer through a digital wallet "deposit".  I have not yet seen how the wallet would replace an existing bank account.

The current implementation in Bahamas limits the capacity of the wallet in dollars and the maximum size of a transaction in dollars, and  it is NOT tied to a specific bank account; you still have to move money into the wallet before it can be used.  Cash is still king there, even though most of the transactions we did there were credit/debit card transactions. Some of the shops we visited were "cashless", only took credit/debit cards or your resort/hotel card to charge to your room account.

Whether it is a credit card, ATM card, or digital wallet: Any of these can be shut down such that you do not have access to them via a lock on your ATM Account, a lock on your digital wallet, or more likely, the disruption of the internet communications between the buyer and seller's accounts to validate the transaction and update the balance of the account.  As long as actual cash currency is available you can still purchase stuff. It will be interesting to see how the ones in charge intend to remove the currency in circulation...

" It will be interesting to see how the ones in charge intend to remove the currency in circulation..."

Seeing this:  They just stop making cash deliveries to banks/stores. Seen this at Walmart early this summer.

Thank you.