Topic: CBDC vs CRYPTOCURRENCY - page 2. (Read 192 times)
Cryptocurrencies will not be replaced by CBDCs. Each has its own respective use cases that the other cannot do. We will exist side by side, although the presence of one will not cancel or abolish the existence of the other. I believe both CBDC and cryptocurrency can co-exist. no need to Remove or replace them will be two supporting factors in the future.
CBDC is backed by the government though. So if they enforce us to use it, people will use CBDC. But it will just replace fiat but not cryptocurrencies because it has a different market. There is not enough information I've read but some say it's using blockchain. Even if it's going to be using blockchain, it's going to be a centralized currency.
But just like in the early days of credit cards, they will airdrop money to your CBDC wallet to make people use it.
But just like in the early days of credit cards, they will airdrop money to your CBDC wallet to make people use it.
Neither CBDCs nor cryptocurrencies will be able to replace the other one I think. And they are not aiming to do so too. CBCDs can start becoming a really good alternative to fiat as long as they are developed enough to do so. But this won't be a short process I believe. Because I don't think that we will let fiat currencies go forever so soon. They will still be in our lives until the digital currencies that are developed by governments are ready.
Given the decentralized natures of cryptocurrencies, they can never be stopped as long as the crypto itself maintains its decentralization. Also, even if the country itself going full crackdown on cryptocurrency, there is still a way to be able to use or access it.
I believe both of CBDC and cryptocurrency can coexist. What is a more plausible scenario is governments going to strictly regulate cryptocurrency to minimize the privacy/anonymity benefit, it what made them to be able at the very least to control it. Also, cryptocurrencies will be a big thing, surely governments won't miss a thing to tax it.
I believe both of CBDC and cryptocurrency can coexist. What is a more plausible scenario is governments going to strictly regulate cryptocurrency to minimize the privacy/anonymity benefit, it what made them to be able at the very least to control it. Also, cryptocurrencies will be a big thing, surely governments won't miss a thing to tax it.
Cryptocurrencies would not be replaced by CBDCs. Each have their own respective use cases that the other may not be able to accomplish. They will exist side by side with each other, though the presence of one will not cancel or delete the existence of another.
Cryptocurrencies will always remain supreme when it comes to transactions across borders. CBDCs will function as digital version of the country's currency which may streamline some other financial services within the country. Two complete facets of the economy, I'd say.
Cryptocurrencies will always remain supreme when it comes to transactions across borders. CBDCs will function as digital version of the country's currency which may streamline some other financial services within the country. Two complete facets of the economy, I'd say.
CAN THESE CBDC REPLACE CRYPTOCURRENCY IN THE COUNTRIES WHICH THEY ARE ISSUED?
No.What they're trying to replace is their current fiat system and they're just bringing it into digital. If the aim of these CBDCs is to replace cryptocurrencies then they don't even stand a chance.
The country that issuing their own CBDC, they can't just stop the emerging market of cryptocurrencies in their country. And they all knew it and understands that they just can't beat crypto.
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No, they are two different sides that have different goals. Cryptocurrency to make you free from regulations that shackle your ownership rights, While CBDC is to bind you to all types of ownership and is fully controlled by the Bank, you have taxes, wealth data and all the values contained in it. There is no room for you to avoid the government. Monitoring will always follow you. Here cryptocurrency will always be tried to be removed by the government which continues to prioritize CBDC as a legitimate and recognized digital currency.
No, they are two different sides that have different goals. Cryptocurrency to make you free from regulations that shackle your ownership rights, While CBDC is to bind you to all types of ownership and is fully controlled by the Bank, you have taxes, wealth data and all the values contained in it. There is no room for you to avoid the government. Monitoring will always follow you. Here cryptocurrency will always be tried to be removed by the government which continues to prioritize CBDC as a legitimate and recognized digital currency.
No, both will not replace each other. The main thing you should know is that the CBDC is absolutely legal, crypto is only possible to be legalized.
Crypto will stay on its own with its volatility, its decentralization. Meanwhile, CBDC is just another form of physical fiat that has been improved, but it doesn't leave its main characteristics as a state currency (under control, unlimited supply, inflation, etc.).
Crypto will stay on its own with its volatility, its decentralization. Meanwhile, CBDC is just another form of physical fiat that has been improved, but it doesn't leave its main characteristics as a state currency (under control, unlimited supply, inflation, etc.).
With the emergence of cryptocurrencies came CBDC, which means Central bank digital currencies. These currencies are simply the digital version of their corresponding fiat.
Although CBDC also referred to as digital fiat currencies or digital base money is inspired by cryptocurrency, they are not to be confused with cryptocurrency as they are still issued and controlled by the government.
The real question is,
CAN THESE CBDC REPLACE CRYPTOCURRENCY IN THE COUNTRIES WHICH THEY ARE ISSUED?
Although CBDC also referred to as digital fiat currencies or digital base money is inspired by cryptocurrency, they are not to be confused with cryptocurrency as they are still issued and controlled by the government.
The real question is,
CAN THESE CBDC REPLACE CRYPTOCURRENCY IN THE COUNTRIES WHICH THEY ARE ISSUED?
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