1. The government can just shut the internet down rendering digital coinage completely useless (eventually).
2. It is just creating what the government wants anyhow. It is creating a type of 'credit' system that is in a way a universal money system (any digital money can be manipulated even if backed by real coins). The only difference is that it's not monopolized by the government. That is the only thing I see as good about it.
And he shall judge among the nations, and shall rebuke many people: and they shall beat their swords into plowshares, and their spears into pruning hooks: nation shall not lift up sword against nation, neither shall they learn war any more.
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