<story><title>Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC</title><url>https://cointelegraph.com/news/nigeria-bans-atm-cash-withdrawals-over-225-a-week-to-force-use-of-cbdc</url></story><parent_chain><item><author>irjustin</author><text>China was the leader in the push to pure cashless society. Cash still works, but only in small amounts.&lt;p&gt;Lots of HNews&amp;#x27;ers claim cash is the only way to keep your freedoms, but that simply glosses over the fact that even if you have piles of cash under your bed, you can&amp;#x27;t do anything meaningful if the government decides to prevent&amp;#x2F;limit banks from accepting cash deposits - say in a 5 year timeframe.&lt;p&gt;After a while, businesses will simply stop accepting cash.</text></item><item><author>kornhole</author><text>This is programmable money where the government controls how and when you can spend it. It does not take long for most people to figure out how this restricts their freedom. I guess they will make it a bargain in some way such as charging a higher rate for cash as they are doing here. This may be a training ground for other governments to learn how to force or incentivize us to use their CBDC&amp;#x27;s.</text></item></parent_chain><comment><author>nix23</author><text>&amp;gt;After a while, businesses will simply stop accepting cash.&lt;p&gt;So when you loose you smartphone&amp;#x2F;cards you cant buy another one, open your car, pay for a taxi or even sleep in a hotel because there is no chance to go home?&lt;p&gt;Switzerland had 3 complete blackouts (1-2 month ago) for paying digital. So the sellers had to make list (and hope you come back later to pay it.). If your country just accept digital, you trust fully on digital infrastructure...i think we all know what a good idea that is.</text></comment>
<story><title>Nigeria bans ATM cash withdrawals over $225 a week to force use of CBDC</title><url>https://cointelegraph.com/news/nigeria-bans-atm-cash-withdrawals-over-225-a-week-to-force-use-of-cbdc</url></story><parent_chain><item><author>irjustin</author><text>China was the leader in the push to pure cashless society. Cash still works, but only in small amounts.&lt;p&gt;Lots of HNews&amp;#x27;ers claim cash is the only way to keep your freedoms, but that simply glosses over the fact that even if you have piles of cash under your bed, you can&amp;#x27;t do anything meaningful if the government decides to prevent&amp;#x2F;limit banks from accepting cash deposits - say in a 5 year timeframe.&lt;p&gt;After a while, businesses will simply stop accepting cash.</text></item><item><author>kornhole</author><text>This is programmable money where the government controls how and when you can spend it. It does not take long for most people to figure out how this restricts their freedom. I guess they will make it a bargain in some way such as charging a higher rate for cash as they are doing here. This may be a training ground for other governments to learn how to force or incentivize us to use their CBDC&amp;#x27;s.</text></item></parent_chain><comment><author>jjgreen</author><text>I don&amp;#x27;t hear people saying cash protects freedom, but is does protect &lt;i&gt;privacy&lt;/i&gt;.  Can it be taken away, yes of course, if people don&amp;#x27;t care about privacy (and most don&amp;#x27;t) and don&amp;#x27;t use it then it can, and that seems to be a project in progress.</text></comment>