Congressman Urges To Ban CBDC, Says Technology "Corrupts Money" https://bitcoinist.com/us-congressman-urges-to-ban-cbdc-says/ US Congressman Warren Davidson has called for a ban on central bank digital currencies (CBDCs), stating that they corrupt the concept of money. Davidson criticized the Federal Reserve's move to develop a CBDC, comparing it to "building the financial equivalent of the Death Star." He argued that CBDCs give too much power to central authorities and reduce money to a tool for coercion and control. Davidson's remarks came in response to the Federal Reserve Bank of San Francisco's job advert for a senior crypto architect for its CBDC project. Other prominent figures, including Florida Governor Ron DeSantis and Congressman Tom Emmer, have also expressed opposition to a state-controlled digital dollar. [–]StrangelyBeigePlatinum | QC: CC 370, ATOM 17 | TraderSubs 12 20 points21 points22 points 1 day ago (23 children) People corrupt money, we just tell the tech what to do. permalink embed save report give award reply [–]002_timmy 10 points11 points12 points 1 day ago (14 children) And money corrupts people permalink embed save parent report give award reply [–]Bunker_BeansPlatinum | QC: CC 224, BTC 40 | ADA 18 7 points8 points9 points 1 day ago (8 children) And we’ve gone full circle. permalink embed save parent report give award reply [–]Pristine_Spinach8718Small town girl in a big arcade <3 3 points4 points5 points 1 day ago (5 children) Congress man and politicians talking about corruption and pointing fingers. Perhaps they should take a long hard look into the mirror. permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago (2 children) They dont have mirrors for this very reason. permalink embed save parent report give award reply [–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 1 point2 points3 points 1 day ago (1 child) It is because they are vampires and loves to such citizens blood. permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago (0 children) Dont carry garlic into the capitol building. You will cause a frenzy. permalink embed save parent report give award reply [–]snowmichaelh 0 points1 point2 points 22 hours ago (0 children) They want to control everything. They like corrupcy, but only the ones which they are in. permalink embed save parent report give award reply [–]azsxdcfvgSilver|QC:BTC130,ETH97,CC76|DayTrading28|TraderSubs99 0 points1 point2 points 1 day ago (0 children) and tech corrupts tech. permalink embed save parent report give award reply [–]Impossible-Injury932Tin | r/WSB 12 0 points1 point2 points 1 day ago (0 children) Hey nice avatar permalink embed save parent report give award reply [–]special_onigiri 0 points1 point2 points 1 day ago (0 children) I'd like to believe people are already corrupted to begin with, money just makes it faster to show their colors. permalink embed save parent report give award reply [–]ShadowKnight324 0 points1 point2 points 1 day ago (0 children) Only those that were already corrupt. permalink embed save parent report give award reply [–]chocolateboomslangPlatinum | QC: CC 73 | CRO 5 | Investing 41 0 points1 point2 points 1 day ago (0 children) Maybe the people were already corrupt permalink embed save parent report give award reply [–]Tasigur1Tin 0 points1 point2 points 1 day ago (0 children) Wherever there is power, greed, and money, there is corruption ;-) permalink embed save parent report give award reply [–]Hawke64Platinum | QC: CC 199 0 points1 point2 points 1 day ago (0 children) Power corrupts people and absolute power corrupts absolutely permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 1 point2 points3 points 1 day ago (0 children) Near-future self-aware AI: "Hold my bits" permalink embed save parent report give award reply [–]MindTheMindForMind 0 points1 point2 points 1 day ago (0 children) But doesn’t money born with a corrupt principle? permalink embed save parent report give award reply [–]Geolinear 0 points1 point2 points 1 day ago (0 children) CBDC isn’t even about money. It’s about control. It’s inherently corrupt. permalink embed save parent report give award reply [–]PeacefullyFightingPlatinum | QC: CC 329, ETH 23 | VET 10 | TraderSubs 24 -1 points0 points1 point 1 day ago (0 children) Just like guns don't kill people! If they did my 9th grade history teacher better change my grade because it was my pencils fault! permalink embed save parent report give award reply [–]ice_blade_sorc -2 points-1 points0 points 1 day ago (0 children) Same thing when people blame guns and explosives. Ban the guy from walking in public instead. permalink embed save parent report give award reply [–]UnsightlyCornerstone -1 points0 points1 point 1 day ago (0 children) It's so corrupt that even we are not corrupt enough to control it! permalink embed save parent report give award reply [–]EdgeLord19941 -1 points0 points1 point 1 day ago (0 children) So people are the problem, time for a purge permalink embed save parent report give award reply [–]Enschede2Platinum | QC: CC 181, ETH 91, Coinbase 21 | PCmasterrace 78 0 points1 point2 points 1 day ago (0 children) Not when it's a cbdc you're not, unless you work for the government that is, so yea, cbdc's should be stopped, for sure.. permalink embed save parent report give award reply [–]coinfeeds-botApproved CC Bot 5 points6 points7 points 1 day ago (1 child) tldr; US Congressman Warren Davidson has called for a ban on central bank digital currencies (CBDCs), stating that they corrupt the concept of money. Davidson criticized the Federal Reserve's move to develop a CBDC, comparing it to "building the financial equivalent of the Death Star." He argued that CBDCs give too much power to central authorities and reduce money to a tool for coercion and control. Davidson's remarks came in response to the Federal Reserve Bank of San Francisco's job advert for a senior crypto architect for its CBDC project. Other prominent figures, including Florida Governor Ron DeSantis and Congressman Tom Emmer, have also expressed opposition to a state-controlled digital dollar. This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. permalink embed save report give award reply [–]samer109 3 points4 points5 points 1 day ago (0 children) We should all stand against CBDCs.. permalink embed save parent report give award reply [–]Inevitable-Lie-4277Tin 2 points3 points4 points 1 day ago (0 children) Use decide corrupt or pious permalink embed save report give award reply [–]NuewimPlatinum | QC: CC 613, ETH 31 | TraderSubs 31 6 points7 points8 points 1 day ago (4 children) I agree with him. CBDCs are pure evil and should be banned. permalink embed save report give award reply [–]Technologicalgolf 1 point2 points3 points 1 day ago (0 children) Exactly!! permalink embed save parent report give award reply [–]Killertimme -2 points-1 points0 points 1 day ago (0 children) they people that want them have the power to ban them permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2 points 1 day ago (0 children) Unless people want to live in a world where there are expiry dates on your money and the government can seize it remotely wherever you are and also establish what can and cannot spend it on, the fight against CBDCs needs to be relentless. Specially because it's now or never, once they're implemented they'll be impossible to stop. permalink embed save parent report give award reply [–]jrodshootsTin 3 points4 points5 points 1 day ago (0 children) Please stop all CBDC’s. My god the amount of government control there will be. Drink too much? Accounts frozen. Haven’t paid your bills? Accounts frozen. Didn’t vote for the right politician? You guessed it… frozen. permalink embed save report give award reply [–]Elgato_TJTin | CC critic 1 point2 points3 points 1 day ago (0 children) Cbdcs are a scam , a way to control our money permalink embed save report give award reply [–]Dull-Wear-3286 3 points4 points5 points 1 day ago (3 children) I can't decide if I hate CBDCs more or politicians permalink embed save report give award reply [–]Fair_Raccoon9333 3 points4 points5 points 1 day ago* (0 children) In particular when the politicians against CBDCs are awful people themselves. This politician is anti-choice, pro-January 6 mob, against universal healthcare, for separating immigrant children from their parents... permalink embed save parent report give award reply [–]DJCityQuamstyle 1 point2 points3 points 1 day ago (0 children) Yes permalink embed save parent report give award reply [–]crypt0_sportsTin | r/WSB 18 -1 points0 points1 point 1 day ago (0 children) That’s a tough call but if you get rid of the politicians you don’t have a CBDC. permalink embed save parent report give award reply [–]Ireallyasked 2 points3 points4 points 1 day ago (0 children) As per the notion wherever i see CBDC, must I comment CBDC BAD permalink embed save report give award reply [–]jbl1091Tin 1 point2 points3 points 1 day ago (0 children) CBDC should be banned permalink embed save report give award reply [–]glistoforTin[S] 1 point2 points3 points 1 day ago (0 children) In a July 23 tweet, Republican representative Warren Davidson condemned any potential move to launch a CBDC, noting that a digital currency flaws the ethos of money. Davidson urged Congress to ban and criminalize any effort to establish a central bank digital currency. Warren Davidson, the Ohio 8th Congressional District representative, stressed that money should not be programmable by a central authority. According to him, the Federal Reserve’s move to develop a CBDC is like “building the financial equivalent of the Death Star.”He added that CBDCs reduce money into a tool for coercion and control in the hands of a central authority (the Federal Reserve). And “Congress must swiftly ban then criminalize any effort to design, build, develop, test, or establish a CBDC.” It bears mentioning that Warren Davidson’s remarks came in response to the Federal Reserve Bank of San Francisco’s job advert for a senior crypto architect who would work on its CBDC project. Responding to a Twitter user’s remark, Davidson also noted that money should remain a stable store of value and that sound money should facilitate permission-less peer-to-peer transactions. While CBDCs continue to gain traction globally, the US Federal Reserve has been exploring appropriate designs for a potential digital US dollar. However, the central bank is yet to make decisions about whether to issue one or not. permalink embed save report give award reply [–]alaminul950 1 point2 points3 points 1 day ago (0 children) Fk US drama. No more permalink embed save report give award reply [–]KappatalizablePlatinum | QC: CC 846 0 points1 point2 points 1 day ago (0 children) And money corrupts politicians like them permalink embed save report give award reply [–]Disavowed_RogueTin | CC critic 0 points1 point2 points 1 day ago (0 children) People corrupt money, technology is a tool. permalink embed save report give award reply [–]002_timmy 0 points1 point2 points 1 day ago (0 children) Politicians talking about who will be corrupted by money permalink embed save report give award reply [–]rorowhatPlatinum | QC: CC 389, XTZ 20 0 points1 point2 points 1 day ago (0 children) I support this view permalink embed save report give award reply [–]deckartcain 0 points1 point2 points 1 day ago (0 children) If by technology he means corrupt politicians and bankers, he'd be right. permalink embed save report give award reply [–]TheSauce32Bronze | r/WSB 115 0 points1 point2 points 1 day ago (0 children) Politician want their cut so bad and pretend they are above greed. permalink embed save report give award reply [–]Technologicalgolf 0 points1 point2 points 1 day ago (0 children) It is true that CBDC is very bad permalink embed save report give award reply [–]yuruseiiiETHead 0 points1 point2 points 1 day ago (0 children) You know something is a truly terrible idea when even some politicians are worried permalink embed save report give award reply [–]TheGiftOf_JerichoPlatinum | QC: CC 831 | ADA 5 0 points1 point2 points 1 day ago (0 children) No lies here permalink embed save report give award reply [–]crypt0_sportsTin | r/WSB 18 -1 points0 points1 point 1 day ago (0 children) The headline is correct, we don’t need this garbage. permalink embed save report give award reply [+][deleted] 1 day ago (1 child) [deleted] [–]TheSauce32Bronze | r/WSB 115 0 points1 point2 points 1 day ago (0 children) Greed corrupts everything, guy but is a better system that what we currently have permalink embed save report give award reply [–]BlooberinoPlatinum | QC: CC 1344 -1 points0 points1 point 1 day ago (0 children) governments corrupt money. Technology is great if you keep bad actors away. permalink embed save report give award reply [–]bcmeerTin -1 points0 points1 point 1 day ago (0 children) Congressmen corrupt money, now gtfo. permalink embed save report give award reply [–]sylsau -1 points0 points1 point 1 day ago (0 children) This US Congressman must have thought it was an AI that created this technology he's talking about... Who created this technology? It's humans. So it's not the technology, it's the humans who are going to corrupt the money. As for the technology, it all depends on how you use it. permalink embed save report give award reply [–]robotwizard_9009 -3 points-2 points-1 points 1 day ago (0 children) The more republicans hate on it.. the more I thinks it's probably a good thing and a national security issue.. tbh. permalink embed save report give award reply [–]RoskohGold | QC: CC 49 0 points1 point2 points 1 day ago (1 child) Just looking to get more people on his side... We all know politicians want cbdcs... Unfortuntly... permalink embed save report give award reply [–]glistoforTin[S] 0 points1 point2 points 1 day ago (0 children) Most likely permalink embed save parent report give award reply [–]Extension-Release558 0 points1 point2 points 1 day ago (0 children) Tech in the wrong hands permalink embed save report give award reply [–]1Tim1_15 0 points1 point2 points 1 day ago (2 children) I bet Elizabeth Warren and Gary Gensler will eventually come out in favor of CBDCs. We already know Biden loves CBDCs due to his executive order. And yes, CBDCs are 1984 on steroids. They must not be allowed. permalink embed save report give award reply [–]GrunblauPlatinum | QC: CC 410, BTC 71 | r/WSB 214 1 point2 points3 points 1 day ago (1 child) Elizabeth Warren has already came out in favor of CBDCs permalink embed save parent report give award reply [–]1Tim1_15 0 points1 point2 points 14 hours ago (0 children) lol...thanks for the link. It has to be crystal clear what she and others like her are after: control. They hate decentralized crypto and love centralized "crypto." The only rationale behind such a position is a desire to control others. Anyone who votes for her or anyone else who is advocating the same positions is voting for 1984. permalink embed save parent report give award reply [–]Captain_HoytBronze 0 points1 point2 points 1 day ago (0 children) In the history of humankind, nothing has had a more corrupting influence than money itself. This a$$clown thinks crypto is going to soil his squeaky-clean money? permalink embed save report give award reply [–]terp_studiosSilver | QC: ETH 55, CC 53, DOGE 39 | r/SSB 13 | TraderSubs 21 0 points1 point2 points 1 day ago (0 children) No, government corrupts money. permalink embed save report give award reply [–]ikikjkPlatinum | QC: CC 48 0 points1 point2 points 1 day ago (1 child) Ill take right for the wrong reasons. permalink embed save report give award reply [–]glistoforTin[S] 0 points1 point2 points 1 day ago (0 children) Cbdc's are always bad permalink embed save parent report give award reply [–]CrunchaucityTales from the crypt 0 points1 point2 points 1 day ago (0 children) Yes, because money is so pure... permalink embed save report give award reply [–]jwz9904 0 points1 point2 points 1 day ago (0 children) Money corrupts technology permalink embed save report give award reply [–]OddIndication4Tin 0 points1 point2 points 1 day ago (0 children) They will say anything to get votes. When it comes to implement the right things, they shy away. Comes from naturally having no skin in the game due to their position. Lot's of upside talking and basically no downside not doing. permalink embed save report give award reply [–]drche35Tin 0 points1 point2 points 1 day ago (0 children) Why? TLDR? permalink embed save report give award reply [–]Schedule-MutedTin 0 points1 point2 points 23 hours ago (0 children) Everything is corrupt able if you are evil and creative enough.