Topic: Can Central Bank Digital Currencies Kill Cryptocurrencies ? - page 2. (Read 834 times)

You should do more research about what you are talking about. People do not like or favored fiat. They are forced to use it because it has been legalized by their government. Inflation is the reason why people do not like fiat in the first place. CBDC is nothing but a digital form of fiat. There is nothing new so it is not a better version of fiat. People will face even greater problems while using CBDC.

If BTC is nothing against fiat then how did you come to this place? BTC controlled by any company? Didn't you see any ads about BTC? Still, you find it out and this number is growing. There must be something in it that's why people like to store their wealth in BTC, not fiat.

Fiat currency is already been here right before the btc came in and fiat is still being favored by the governments/banks and as well as the majority of people. Btc is nothing against it but between cbdc and cryptos, cryptos are the first one to came in however cbdc is being favored the most by the governments/banks because it's theirs but many people are still sticking with cryptos over cbdc so there is no need to worry about it.

Cbdc cant surely kill cryptos but they are the ones that cryptos will kill. Governments can allow crypto but they cannot totally control it, that is the reason why they created cbdc and I don't think creating it is hard and costly.

It sounds like can fiat currency kill BTC! I ready doubts about this concept of CBDC and its potential. Most of the country in the world doesn't have the ability and resource to create and maintain their own CBDC. Allowing crypto assets and taxing them is less costly and convenient for the govt than creating CBDC. Also, I do not find many similarities between them expect their use case. So talking about killing one another is irrelevant.

https://news.bitcoin.com/rbi-official-central-bank-digital-currencies-could-kill-cryptocurrencies/


Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar says central bank digital currencies could “kill whatever little case there could be” for cryptocurrencies, like bitcoin and ether.

RBI Deputy Governor T. Rabi Sankar talked about the potential impact of central bank digital currencies (CBDCs) on cryptocurrencies, like bitcoin and ether, at a webinar organized by the International Monetary Fund (IMF), local media reported Friday. By “private cryptocurrencies,” the Indian government and the central bank refer to all non-government-issued cryptocurrencies, including bitcoin and ether.


I know IMF are huge critics of Bitcoin and any country that adopts Bitcoin as a legal tender, they're also involved one way or the other innit . As I don't blame RBI much, only scared of dollarization https://news.bitcoin.com/indias-central-bank-rbi-warns-crypto-could-lead-to-dollarization-of-economy/ which they say are not of them countries interest. Asides that, drug abuse and money laundering has been a norm over there.

IMF are chiefly responsible and Championing the move against Crypto Currencies and Bitcoin all for them selfish interest... But do you see any possibility of Central Bank's Cryptocurrencies killing Bitcoin, Crypto Currencies ?, although China imposed huges bans of any other digital currencies except there's and are doing quite well ( Economy ) correct me if I'm not!

What you think?!

I think CBDC can't kill cryptocurrency because the majority of people who are involved in cryptocurrency are avoiding the banking system.  Even if we think that banks have great influence, it won't affect people who don't want to use their service.  With that, CBDC cannot be considered a competitor of cryptocurrency so there is no way it can kill it.

So, Bitcoin is a currency that was created to not be controlled by the government, and the government plans it to kill it with a currency controlled by the government? They really don't understand what crypto is about. People with a basic understand of it (which sadly is not everyone in crypto community) know that blockchain alone doesn't make a coin fundamentally valuable. It's the decentralization, robustness, security against potential attacks. Bitcoin is miles ahead of both altcoins and CBDC here, and those things can't become better than Bitcoin due to their fundamental flaws.

For trying to adopt the changes made by cryptocurrency for sure it will not kill the industry what you concerned with and most provably people will take it as alternative since investors will not focus on one thing so for sure all of this will get adopted and maybe by the help of their created currency it will help boost the popularity of crypto. So chill out and don't worry about things which didn't give any bad effect yet.

I don't think CBDC's can compete with crypto. My concern is government backed efforts to go paperless and install CBDC's in place of fiat currencies while trying to oust crypto at the same time. It's not that CBDC's on their own can be successful when applying free market principles. There's no chance a consumer would voluntarily choose a CBDC without their being other factors involved (like government coercion).

It's not much of a conspiracy when you realize the steps a lot of countries have been taking to curtail crypto growth. Their intentions have been clear from the start.

I don't think Central Bank Digital Currencies offer the same ideas as cryptocurrencies, at least most of them. They will most likely form a separate sector of finances that will coexist with crypto and FIAT, but will (probably) have less importance than the other two. And they might as well intertwine with FIAT and crypto to form some kind of a bridge between those two. Could be interesting.

I don't think Central Bank Digital Currencies offer the same ideas as cryptocurrencies, at least most of them. They will most likely form a separate sector of finances that will coexist with crypto and FIAT, but will (probably) have less importance than the other two. And they might as well intertwine with FIAT and crypto to form some kind of a bridge between those two. Could be interesting.

For trying to adopt the changes made by cryptocurrency for sure it will not kill the industry what you concerned with and most provably people will take it as alternative since investors will not focus on one thing so for sure all of this will get adopted and maybe by the help of their created currency it will help boost the popularity of crypto. So chill out and don't worry about things which didn't give any bad effect yet.