It was in the news that the Canadian government is looking at it. Substituting it and withdrawing conventional currency would obviously leave a perfect trail of your financial life.

There are several indications. Concerns over the underground economy escaping taxes. Would obviously be number one. Why I had a look at it? I seldom use actual money. So in general have none on my person. It is either a debit card or a credit card that I have automatically paid of at the end of the bllling period. A bank draft or electronic funds transfer. Yet I still like what unmonitored cash can enable from time to time.

I found a guy with a set of snow tires and rims. With the tires less than two months in use. Off a 2018 Passat. Naturally this is one of those cash deals. He does not collect any tax on the sale and I do not report the transaction as a buyer. Cyber money only would be monitored by computors. Yet throwing red flags perhaps. Any transactions between two people where one did not have a sales tax license as an example. Also my guess is these types of credits could not easily go in and out of a country. Other than by government arrangement with foreign ones. Exchange arrangements for the individual might have to meet rules. All money flowing in or out as credits or whatever they wanted to call them. Would show a trail. It might really hurt the drug business and various forms of crime. Fortunately they are just examining the concept currently.

If there is no longer actual cash. It would change things I think. There are other issues as well. Currently there is far less money in circulation Than what is already present in the electronic medium. Obviously the government would issue so many cyber currency credits for money they received.

There is no difference in my mind. We trust paper money simply because others think it has some value. In my mind a cyber currency issued by a countries government would not have more or less credibility. You might still barter a deal from time to time out of their potential sight. It would be harder though and awkward. I underwent a net worth audit years ago. Well aware that even with all their paperwork at the time. How our money was made and spent. Was difficult for them to verify in many cases. If back then a government based cyber type currency was in effect. The audit may have produced another result.


To me it is easy to enact once the politicians stop fighting in their sandbox. An equal exchange is offered for a period of time. Then the money on hand cannot be converted making it worthless. Anyways I found the concept interesting. I was trying to find a real reason for it not to work.