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Comment by xwolfi | Hacker News Reader

W...why do you want something more digital than the existing system ? I dont want each dollar to be tracked from its infancy to where I spent it, I m quite fine with withdrawing my digital money back to cash at the ATM and spending it anonymously thereafter.

The system is perfect, why change it to liquefy the dumb investment a few crypto lunatics made ?

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The existing system would stay the same. A USD stablecoin would be something new - a cryptocurrency that is backed 1:1 by the USD and the US Government.

It's too big of a job for private finances and too prone to corruption because there is zero profit if you do it properly.

But why should the US government build something just so crypto folks have something to gamble with? Why does the government need to enable their habit? What benefit is there to its people?

What value does "cryptocurrency" add to a centralized currency? I can see that we'd be better off with a standardized protocol for sending money around, but plenty of countries have done that fine. The US is stuck in a technological backwater, yes, but I fail to see why "cryptocurrency" would decrease the number of problems.

> W...why do you want something more digital than the existing system ?

> The system is perfect

Still amazes me how conservative the HN crowd is when it comes to finance. Move fast and break things... except not the monetary system; that, is perfect.

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