Topic: CBDC competing with bitcoin - page 2. (Read 299 times)
You are comparing two different things like one is centralised which means they can implement changes to it but on the other side btc is decentralised and owned by you so make assumptions keeping that in mind that whether CBDC can compete with bitcoin? The btc has its own existence due to its working and it will continue to work the same manner while CBDC will fail eventually.
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CBDCs are the only tool for governments to counter Bitcoin.
How are they using CBDC against bitcoin? And if they really want to fight or destroy bitcoin, then the series of bans that have been enacted and maintained so far, not governments that are gradually accepting bitcoin to some extent. The growth of CBDCs is just a result of technological developments, which bring convenience as well as help them better manage us. I don't see anything dangerous in the government issuing CBDC, to me, it's still fiat, nothing more and nothing less, so it can't compete or compare with bitcoin. CBDCs are the only tool for governments to counter Bitcoin.
Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
Totally agree with the points you made. The real point of the government to launch CBDC is because they don't want Bitcoin to beat the popularity of fiat and so they try to copy the Bitcoin system and try to offer it to the public and say that it is better than Bitcoin. When in fact they are afraid that people will trust Bitcoin more and adopt it as their main payment. But no matter how the government gets rid of Bitcoin, it won't be able to hinder the adoption of Bitcoin going forward, it will continue to increase and reach more and more people.
Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.
I think that's been established since long ago? Just imagine fiat, but digitalized. Maybe made fancied with all the crypto jargon they're gonna use but in the end it's gonna end up just being fiat, but digital. They still hold power over it technically. And competition is nonexistent as well, I mean, they're being used completely fine to date havent they?Its not the system adjusting towards the creation of the CBDC. The system's set already so to speak, the only thing others can do is enter and use it. Take ownership? Ehh I wouldn't call it impossible, but it's almost infinitely difficult.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
There will never be a meeting point between the government and decentralization because the inherent nature of the government is to function as both the state police and the regulator of society. The position of the government necessitates control in order to make more rational decisions (that's the government's perspective).Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
However, when Central Bank Digital Currencies (CBDCs) attempt to mimic Bitcoin, those who initially became acquainted with Bitcoin and fell in love with it will not be interested in CBDCs. Meanwhile, government-backed products will find traction in a market of individuals who were previously unfamiliar with Bitcoin altogether.
CBDCs are not meant to replace decentralized cryptocurrencies like Bitcoin. While Bitcoin operates on a fully decentralized network, CBDCs remain centralized and are subject to the scrutiny of financial institutions. The main objective of CBDCs is to improve the efficiency of payments and offer more advanced financial instruments, while maintaining control by the monetary authorities.
It is true that some people may prefer Bitcoin due to its decentralized nature and the financial autonomy it offers. However, central bank digital currencies could offer additional benefits, such as price stability and consumer protection, which could be of interest to a large part of the population, which is why they could be preferred to Bitcoin. CBDCs are the only tool for governments to counter Bitcoin.
It is true that some people may prefer Bitcoin due to its decentralized nature and the financial autonomy it offers. However, central bank digital currencies could offer additional benefits, such as price stability and consumer protection, which could be of interest to a large part of the population, which is why they could be preferred to Bitcoin. CBDCs are the only tool for governments to counter Bitcoin.
Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
I think the CBDC's are going to change the world of crypto-currencies and I fear that because of their promotion governments could create far more restrictions and way tough regulations on Bitcoin and the exchanges that support Bitcoin and other crypto-currencies. The CBDC's are created with that intention only and the banks will get quite a huge number of investors with the help of CBDC than with current fiat system. The CBDC's won't be as volatile as Bitcoin and other crypto-currencies and may remain stable even if the market gets a crash.
The only draw back of CBDC's is that anything you do with those you will have to first purchase them from a retailor or a bank and then you'll be able to do anything with those. The main agenda of Decentralization was to stop those banks from interfering with our finances, and with CBDC's that idea is totally drown into water. They will operate just like Fiat but in crypto-currency form, and they might create huge risks for current Stable-coins of the crypto-ecosystem.
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No. It's not.
With CBDC government try to create its own stable and says that we don't need Bitcoin now because we have the digital dollar lol. But they are not gonna win because no one cares about CBDC sh*t.
Everyone who knows what crypto is will use usdt or BTC instead of CBDC. This "stable" will be promoted as an alternative of BTC but I don't think it's gonna be really successful.
With CBDC government try to create its own stable and says that we don't need Bitcoin now because we have the digital dollar lol. But they are not gonna win because no one cares about CBDC sh*t.
Everyone who knows what crypto is will use usdt or BTC instead of CBDC. This "stable" will be promoted as an alternative of BTC but I don't think it's gonna be really successful.
With CBDC, we won't have the right to like or dislike it, I think the government will force us to use them when it officially works. Simply put, it's just a digital version of fiat, and their creation of CBDC is just the advancement of technology and freeing us from the frills. It can be said that CBDC is inevitable, but to say it competes with bitcoin is not true because these two assets are completely different. So I don't think there will be any real impact or competition between these two properties. But to talk about between fiat and CBDC, I still prefer using fiat over CBDC.
No. It's not.
With CBDC government try to create its own stable and says that we don't need Bitcoin now because we have the digital dollar lol. But they are not gonna win because no one cares about CBDC sh*t.
Everyone who knows what crypto is will use usdt or BTC instead of CBDC. This "stable" will be promoted as an alternative of BTC but I don't think it's gonna be really successful.
With CBDC government try to create its own stable and says that we don't need Bitcoin now because we have the digital dollar lol. But they are not gonna win because no one cares about CBDC sh*t.
Everyone who knows what crypto is will use usdt or BTC instead of CBDC. This "stable" will be promoted as an alternative of BTC but I don't think it's gonna be really successful.
If talking about CBDC, I don't think it has enough criteria and strength to compete with bitcoin. If you want to find something in the crypto industry to compare, stable coins will be more suitable because CBDC is no different from fiat, so it cannot be compared to bitcoin.
Many people say that CBDC will fail, but I see that the government is taking that project very seriously, as we are entering the digital world, it is only a matter of time before everything is digitized. Moreover, they always want to control us more and with CBDC they can control us more tightly than fìat. Therefore, they will certainly continue to deploy despite certain difficulties.
Many people say that CBDC will fail, but I see that the government is taking that project very seriously, as we are entering the digital world, it is only a matter of time before everything is digitized. Moreover, they always want to control us more and with CBDC they can control us more tightly than fìat. Therefore, they will certainly continue to deploy despite certain difficulties.
For me, Bitcoin and Central Bank Digital Currencies (CBDCs) are completely very different types of digital currencies.
Although both technologies have the potential to completely transform the way we think about money or our current financial system, but we must be aware because they carry some risks that should be carefully considered.
Digital currencies are not built on top of blockchain technology.Although both technologies have the potential to completely transform the way we think about money or our current financial system, but we must be aware because they carry some risks that should be carefully considered.
CBDCs will be built on blockchain but it's just lack of decentralization like Bitcoin blockchain. I think CBDCs are better than digital currencies in technology but if we can have choice to use Bitcoin, CBDCs will not be our favorite choice.
I think CBDCs have more advantage with blockchain technology than previous generations of digital currencies.
[GUIDE] All About Central Bank Digital Currency (CBDC)
For me, Bitcoin and Central Bank Digital Currencies (CBDCs) are completely very different types of digital currencies.
Although both technologies have the potential to completely transform the way we think about money or our current financial system, but we must be aware because they carry some risks that should be carefully considered.
Although both technologies have the potential to completely transform the way we think about money or our current financial system, but we must be aware because they carry some risks that should be carefully considered.
Central Bank digital currencies was made because of hatred to be like bitcoin.
When the control lever of government on individual wallet or pocket is not fixable on Bitcoin, CBDC becomes the alternative solution to further encourage citizens to see the idea of a decentralized system as difficult and unable to be reliable.
CBDC of any country is like the opposite of what BTC stands for. There is no competition between both as only those who don't fully understand its concept would think a there is.
The major similarity I can share now is that both are digital.
It is okay to also be aware that Bitcoin is a type of cryptocurrency, while, the E-naira is a form of CBDC, just as other countries have thiers.
Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.
They are controlled by central banks and entirely centralized. They don't have non custodial wallets for citizens, I am sure they won't have such. You don't control keys of your CBDCs and you don't have them actually.Quote
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency.
I don't think governments launch CBDCs because they want to imitate Bitcoin or compete with Bitcoin.They do this because they only want to control their citizens' money flows better. They want to gain more tax from their citizens so they need CBDCs to do this better.
Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.
I don't know how they expect people to feel any different when government cannot let the currency to be decentralized . Some of the reason why most users clamor go cryptocurrency and by that I mean bitcoin is because of its decentralised nature. The heavy hand of control which the government can't so much release has been the barne of the currency CBDC and would continue to be.In the end, I think financial freedom is what the government can't offer as they are sure to lose some of its sovereign power to manipulate the system in ways that pleases them after power is released to the people.
Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
I think it's more of the government wanted to join the hype and it's a win win for them. Their population will think that their they are going to support crypto, but on the other hand, this CBDC could be used to track everyone in the future, how they spend, where they spend it and everything. In short it could be used as a surveillance. And as a tool, they can force their people to not have a choice but to used it, specially if you are going to transact to the government itself, everything should be in their control and that is their CBDC's.
CBDC were just another way of having control over the funds of the people. This doesn't make any impact upon bitcoin, because people who have understood well about the difference between cryptocurrency and the CBDC will never switches. The development were much focused on keeping the cryptocurrency users directed towards CBDC as they weren't able to ban or restrict the usage of bitcoin.
People who haven't got used to cryptocurrencies and prefer to be with the government's guidance will prefer CBDC. Even those people will find this innovation unwanted if they use bitcoin once.
People who haven't got used to cryptocurrencies and prefer to be with the government's guidance will prefer CBDC. Even those people will find this innovation unwanted if they use bitcoin once.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
CBDC will go extinct in a short period of time. This currency exists solely to divert attention away from the use and adoption of bitcoin. The government already knows this, and every bitcoin enthusiast understands why the government is implementing CBDC. It can never be dependant if it is still under the authority of someone or some agency. Bitcoin is decentralized, but CBDC is centralized; CBDC is simply another name for fiat.
In the end, I do not think the CBDCs and Bitcoin will even compete against each other.
This comparison is not even conceivable. If bitcoin ever becomes comparable to CBDC, CBDC will be able to compete with bitcoin in the worldwide market. But, as of now, the use of CBDC has not increased, despite the fact that bitcoin continues to have a big impact on the financial markets.
CBDC may not go extinct but we all know that it is centralised, so the users know the risks involved using this coin. if the government is supporting it, there will always be users. good as digital cash in usage as we are more on digital transaction these days.
once users understand the difference of cbdc vs btc, they will know which one to use depending on what kind of transaction they want to make.
Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.
If you're using fiats and CBDC, you're still under thesame canopy of centralized authorities being in control of your finances, they can implement, change, alter and influence change as they want, they have the full control over your asset without taking permission from yours, if you think this is abnormal and should be stopped, you have the option of choosing a decentralized digital network with bitcoin, if you adopt bitcoin then don't make the simplest mistake of going back to where you left by having your bitcoin on centralized exchanges.
Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.
The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
The change is obvious from the naming conventions itself. Cryptocurrency= Encrypted cash, money that is not only digital, but is hidden away in some sort of internet puzzle that you could solve and then win out of, the prize being the cryptocurrency itself. Central Bank Digital Currencies are well, digital currencies, think of your bank money before you withdraw it, or after you deposit some of it. That in itself is digital money and in some places in the world that very number could denominate value and be used for purchases, be taxable, and such and such. So with that being said it must be obvious to anyone with half a brain that CBDC and Cryptocurrency are not two sides of the same coin. They are not binary, not entangled, not related in any way whatsoever. The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.
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