Topic: How will CBDCs will impact Bitcoin? - page 3. (Read 509 times)

i predict it will be Visa/mastercard running it in some fashion

CBDC is not where bank of england do everything for the british CBDC

what will happen is BOE will issue the initial premine of a few trillion CBDC£

smart contract it out to half a dozen commercial banks/payment services
and the commercial banks/services then handle the customer service/supervision stuff, because simple fact and logic there are not enough ministers/senators, civil servants to watch ever ones picnic and coffee purchases.. nor do they want or care to spy on everyone personally

..
if you research the chinese CBDC its not the PBOC thats handling it all. they have distributed the reserves(pre mine) to half a dozen commercial payment services
Alibaba, Tencent, Huawei, JD.com and UnionPay

the structure of the e-yuan
is the PBOC issue new currenct and share it down to the commerical payment services. the commercial services then have their own customers, so the commercial services then do the customer registration part and keep those databases inside the commercial services..

payments flow between the commercial services
if the commercial services find something suspicious they report that to the chinese department that deals with crimes.. not the PBOC and not the PRC
the police then see if its criminally suspicious, to then seek a court order via the court devision. which then gets the cops access to request more personally identifiable information about the individual account holder from the commercial service

oh and guess what folks
china. i said it china's CBDC has it where the payment services have 3 levels of account
amounts under monthly wage spends account level have no KYC. if you want to increase your income/expenditure limit. you can register for simple KYC and if your wealthy or run a business then you have to full KYC

..
its much the same as how the UK/US system works now..
and no, the US/UK system now of normal fiat is not where "government" are sat at computers watching everyones transaction.. they are reactive to reports cent by commercial banks

will people please do your research and use the search function instead of forming a silly opinion and then come in seeking people to agree with an opinion you might already have formed pre ask.

im not siding with anything but just writing what i have found out in my own research and observations.. but i keep seeing silly posts of people with no knowledge forming an opinion about something. asking a question hoping to get an answer that aligns with an opinion they have
 

I'm just wondering how much you can withdraw from your banks without getting asked why you always withdraw your money. Banks will ask you regarding what's the reason you withdraw your money and they're actually already know what have you done with your money, they just want to verify it. Don't forget someone that you've traded can expose your illegal business (if you did for criminal) and there's many CCTV can trace you.

Fiat isn't anonymous and CBDC will not give any impact to Bitcoin.

Can you buy today anonymous irreversible payment things with your card?
Or, even better, can you withdraw paper fiat from your card?
Also, can you buy Bitcoin with your card or with bank transfer?
Well, same will have to happen with CBDCs too.

CBDCs will be competition for Visa/Mastercard (centralized, fiat related), CBDCs will be competition for stable coins (centralized). Bitcoin (decentralized), as I said, will be pretty much unaffected.

Sure, but paper fiat cash is the most anonymous form of value you can find, whereas a CBDC is a representation of fiat paper cash that is fully trackable. So, with heavy regulation in place against cryptos won't this have a negative effect over Bitcoin?

You really need a 101th topic on this? Every week new topics pop up asking about this.
I've linked a very few of them:

https://bitcointalksearch.org/topic/--5416457
https://bitcointalksearch.org/topic/cbdcs-cannot-save-weak-currencies-5419584
https://bitcointalksearch.org/topic/cbdcs-are-like-a-digital-prison-but-bitcoin-is-the-key-5419179
https://bitcointalksearch.org/topic/are-cbdcs-good-for-the-economy-5409436


Short answer: little to no impact. CBDCs are just another representation of fiat.

to normal fiat people they will just see it as another phone app. like paypal or venmo

certain CBDC are not as "overwatch" as tinfoil hat's proclaim
many of them have like a dozen different commercial banks being the account providers. where the commercial banks do the KYC.
and where within the commercial bank app. there are 3 levels of account
account limits(spendability amount per month) =under $xxx has no KYC
(imagine it like virtual debit card)
then basic kyc for above min salary to below small business amounts. then full KYC for the wealthier/business accounts

of course the currency inside the apps is not going to be deflationary so again its just fiat in a new app

so people will still, much like today want to hedge that inflation via a deflationary asset

CBDCs are coming, and they spell the end of the Private monetary policy as we know it. The list of countries adopting CBDCs is growing at a fast pace:

The Bahamas
Antigua and Barbuda
St. Kitts and Nevis
Monserrat
Dominica
Saint Lucia
St. Vincent and the Grenadines
Grenada
Nigeria

Governments have already understood the sheer potential of the Blockchain to impose Total monetary control.

So, how do you guys think will affect Bitcoin?