usdt,busd,usdc is basicly just digital dollar. it already exist.
as for threat to bitcoin NO. digital dollar will be centralized,
Topic: Is Digital dollar a threat to Bitcoin ? (Read 387 times)
It is possible that digital dollar could pose a threat to Bitcoin's market share, especially if the digital dollar were widely adopted and used for a larger portion of financial transactions, not with like 15+million transactions per second. However, it is also possible that the two could coexist, with people using both for different purposes. Bitcoin has a strong network effect and a loyal user base, so it is not likely to disappear anytime... Ultimately, it is difficult to predict how the hell two will compete with each other, as it will depend on a variety of factors such as user adoption, the development of new technologies, and changes in economic and regulatory environments.
I don't think it's possible, they are two totally different things, the dollar, even if it is digital, is still controlled by an institution, and depending on how it is managed, it can generate inflation, directly affecting the currency and the community, on the other hand, bitcoin is free of state restrictions, and despite being volatile, it generates many opportunities for the user, such as having full control of their capital or having much more solid growth opportunities.
Fiat currency digitization and Bitcoin are two entirely different things. Essentially, one submits to the government, one serves everyone, one is still an extension of centralization, digital banknotes, and one is a model of decentralization. I believe that if there is danger, it is only temporary. Don’t panic. The future belongs to the various landing applications brought to us by the underlying technology of the blockchain. 
Cryptocurrencies success was only for its characteristics of being decentralized. While the Digital Dollar and Bitcoin may serve some of the same functions and be used for similar purposes, they have different characteristics and operate within different frameworks. It is possible that the introduction of Digital Dollar could have an impact on the use and adoption of BTC, but it is difficult to predict exactly how this would play out.
And NO, Digital Dollar will never be a threat to BTC.
The purpose for which bitcoin being innovated and for what reason these digital dollars were developed needs to be understood. This will clearly define whether digital dollars turn to be a threat for bitcoin. In reality digital dollars were developed to keep people away from bitcoin and to have people's fund under control whereas bitcoin is for financial freedom. So, there's big difference and the same won't let digital dollar to be a threat as mentioned. And NO, Digital Dollar will never be a threat to BTC.
Cryptocurrencies success was only for its characteristics of being decentralized. While the Digital Dollar and Bitcoin may serve some of the same functions and be used for similar purposes, they have different characteristics and operate within different frameworks. It is possible that the introduction of Digital Dollar could have an impact on the use and adoption of BTC, but it is difficult to predict exactly how this would play out.
And NO, Digital Dollar will never be a threat to BTC.
And NO, Digital Dollar will never be a threat to BTC.
It's a tricky one, but I absolutely believe that the digital dollar poses a threat to bitcoin. There is a possibility that the federal government will enact absurd taxes and restrictions. There are a number of ways in which this could negatively impact bitcoin owners, and even lead to a desire to sell their assets. As a result, the Fed will provide bitcoin owners with a tempting offer to convert their funds to the digital dollar at an initial one-to-one exchange rate that will eventually depreciate.
Yes, it is a tricky one to say. But I'm viewing the opposite thing where it is the digital dollar (government) who views bitcoin as their enemy and poses a threat and not the other way around. Governments around the world won't be creating such thing like digital currencies if bitcoin is not stressing them out, just like China, they have banned the use of it because they don't know yet how it really works because they cannot control it as well. But they can't blind the people nowadays because eventually, these digital currencies will depreciate because they aren't designed to avoid inflation.This digital dollar is exactly for that purpose, they want to make a huge amount of profit, and they will make it when they start. It's not about threat, it's about getting rich, and making your friends richer as well. With this digital dollar, they are going to print unlimited amount of money that is going to be sold to public, and that digital dollar will have no value whereas real money will be in politicians pockets.
In my opinion, Bitcoin will never face any threats. Due to the hard cap at 21M coins, Bitcoin will always be scarce and valuable.
The more governments try to kill Bitcoin, the more I understand how valuable Bitcoin is.
The more governments try to kill Bitcoin, the more I understand how valuable Bitcoin is.
it was said that the digital dollar would be released primarily due to the pandemic and that every American would be given 1000 digital dollars, but I think that's no longer the case at this point. so the dollar had already lost its former strength and it turned into an effort to keep the dollar afloat. but I don't think the digital dollar will have any effect on bitcoin because the digital dollar will be used for daily transactions. so their lanes are completely different
It just depends on Government's agenda for releasing the digital dollar (CBDC'S) , which I think one of it plans is total control, because Government likes to control everything, but in a situation where they leave both Bitcoin and the digital dollar to compete there's no way it can be a threat to Bitcoin because the difference is crystal clear.
However, Both Bitcoin and the digital dollar needs each other and the digital dollar will help more in Bitcoin's adoption and success ,
so some of those funds in real estate , bonds, Gold etc need melt into Bitcoin through the digital dollar.
However, Both Bitcoin and the digital dollar needs each other and the digital dollar will help more in Bitcoin's adoption and success ,
so some of those funds in real estate , bonds, Gold etc need melt into Bitcoin through the digital dollar.
Why my dear fellows make a lot of noise on the name of the digital dollar as i think its just nothing but an air ballon whenever you are going to test its durability it is going to disappoint you but bitcoin is a true asset i think there is no comparison for these two completely different entities one is called global asset and one is called global currency a lot of differences. I can see maximum of such posts and topics are created by the newbies but i was expecting something more from OP.
I would never see the digital dollar as a threat to bitcoin, first because they do not carry the same technology and if they acquire it, it has no limitation or circulation capacity, that is, they will continue printing money causing inflation, bitcoin does not because it has its limitations and They are no longer printed, it cannot be bigger than bitcoin, also if more gold backs it, that is a lie, they do not have any backing, and bitcoin does not have it either, but it is free and has been maturing for a long time, it is a currency that she can run the world if she wants because no one controls her and being free anyone can have access to bitcoin.
Recently came across this news
https://www.forbes.com/sites/jasonbrett/2022/02/07/fed-designs-digital-dollar-that-handles-17-million-transactions-per-second/
It is still in testing phase. Do you think this digital dollar can be threat to bitcoin ? My answer is never because it is centralized.
https://www.forbes.com/sites/jasonbrett/2022/02/07/fed-designs-digital-dollar-that-handles-17-million-transactions-per-second/
It is still in testing phase. Do you think this digital dollar can be threat to bitcoin ? My answer is never because it is centralized.
The digital dollar is a digital version of the paper dollar so it can be said that it will not pose any threat or effect to bitcoin. The government created CBDC just to bring convenience as well as suitable for today's modern life. Bitcoin is the only digital gold, so it can be said that no government-created digital currency can compete with it.
It's a tricky one, but I absolutely believe that the digital dollar poses a threat to bitcoin. There is a possibility that the federal government will enact absurd taxes and restrictions. There are a number of ways in which this could negatively impact bitcoin owners, and even lead to a desire to sell their assets. As a result, the Fed will provide bitcoin owners with a tempting offer to convert their funds to the digital dollar at an initial one-to-one exchange rate that will eventually depreciate.
Yes, it is a tricky one to say. But I'm viewing the opposite thing where it is the digital dollar (government) who views bitcoin as their enemy and poses a threat and not the other way around. Governments around the world won't be creating such thing like digital currencies if bitcoin is not stressing them out, just like China, they have banned the use of it because they don't know yet how it really works because they cannot control it as well. But they can't blind the people nowadays because eventually, these digital currencies will depreciate because they aren't designed to avoid inflation.
Recently came across this news
https://www.forbes.com/sites/jasonbrett/2022/02/07/fed-designs-digital-dollar-that-handles-17-million-transactions-per-second/
It is still in testing phase. Do you think this digital dollar can be threat to bitcoin ? My answer is never because it is centralized.
https://www.forbes.com/sites/jasonbrett/2022/02/07/fed-designs-digital-dollar-that-handles-17-million-transactions-per-second/
It is still in testing phase. Do you think this digital dollar can be threat to bitcoin ? My answer is never because it is centralized.
Dollar has fixed rate, we use that to evaluate the value of BTC. Moreover if you see it is similar to that of USDT only. So is USDT currently a threat to Bitcoins? No right. Then similarly this might also happen side by side simultaneously. Bitcoins are already popular coins, and definitely many people use it as an asset rather than a coin. But this digital dollar will be treated as a currency only which value will be fixed with Dollar price. So yes both will have different audience and holders.
The general pubic does not know the difference between centralized and decentralized... and they simply do not care about that. They care about some government giving the "green" flag on a currency that they can use everywhere. 
We have a huge task to educate people on the difference between the two technologies and what the threat will be to use a centralized technology.
We have a huge task to educate people on the difference between the two technologies and what the threat will be to use a centralized technology.
This is actually quite true.
Most people actually might end up preferring something centralized as it's usually simpler and easier to use. For example Google, Facebook, etc, instead of simply the Web 1.0, which was decentralized but "for geeks only".
Similar with Bitcoin, it started "for geeks only" but now it's made easy with lots of centralized companies.
In my opinion, both are entirely different, so they cannot threaten each other, using CBDC is no different than you are using fiat. In a sense, CBDC is a digital version of fiat and if we cannot compare fiat to bitcoin then CBDC is similar.
Not entirely technically coz fiat like any other currency powers the bitcoin. How would you think any cryotpcurrencies would raise their value without any external force to power it up? What I think should be more appropriate to call any currency is competitor rather than being a threat coz basically there won't be any digital currency without any fiat back up. I agree, on this case bitcoin is merely an investment to people, not even a currency thought of a thing. I agree with pooya87's point: digital dollars have been around for a long time, and we have been using them for a long time, so it would not be correct to say that it is a threat or will compete with bitcoin. Bitcoin is not just a currency, it is an asset and an investment, so to speak, there is no such thing as a government-created asset class to compete with bitcoin.
Uhmm I don't think so. As you said Bitcoin is an asset and investment, there are lot to compete with being these two. 
If compared as a means of payment, bitcoin today is still not widely used because most people prefer to accumulate and hold bitcoins than to use it as a payment method.
I can't agree with your point, you mean a single coin having daily transactions of about 250,000 and yearly transactions of about 93 million is not widely used? These numbers are certainly more than the numbers of the holders as I am sure that BTC is active in payments, though more could be done.Where do you get this metric? I mean, is this bitcoin transaction volume? If it's bitcoin's trading volume, the daily number is much bigger, I just checked CMC, and it shows bitcoin's 24 hour trading volume is over 13 billion. A number that is not too large compared to the trading volume of forex. But this is the volume bought and sold on exchanges, not the volume used as a daily payment method. People are still using bitcoin for investment instead of using it as a payment method. Even if your metric is a transaction metric for payments, 93 million is still too small to be considered widespread.
The digital dollar or any digital fiat currency doesn't feel like a threat to bitcoin, but it certainly can be considered a real threat to other centralized altcoin including stablecoin. I agree with the idea because it is quite possible that CBDCs are adopted by most of the centralized exchanges instead of ignoring them. It will also affect the interest of many people in its use cases as CBDC is the government's official currency as legal tender. So of course it will help centralized exchange to grow bigger due to increased interest.
We have a huge task to educate people on the difference between the two technologies and what the threat will be to use a centralized technology.
It doesn't have to be, let them choose what they think is safe as when they trust their bank and savings instead of investing in bitcoin. I don't think it's our responsibility to educate, unless they start asking which is better.
The general pubic does not know the difference between centralized and decentralized... and they simply do not care about that. They care about some government giving the "green" flag on a currency that they can use everywhere.
We have a huge task to educate people on the difference between the two technologies and what the threat will be to use a centralized technology.
We have a huge task to educate people on the difference between the two technologies and what the threat will be to use a centralized technology.
If compared as a means of payment, bitcoin today is still not widely used because most people prefer to accumulate and hold bitcoins than to use it as a payment method.
I can't agree with your point, you mean a single coin having daily transactions of about 250,000 and yearly transactions of about 93 million on average is not widely used? These numbers are certainly more than the numbers of the holders as I am sure that BTC is active in payments, though more could be done.If compared as an investment, it is clear that CBDC does not have any effect on bitcoin, as CBDC is fiat, just a currency but in digital form.
It would, first, don't forget that when trading BTC in futures and other online platforms, it's mostly in BTC/USD. Now, tell me, how won't it affect it if the development of CBDC causes more patronage of the USD? And be sure that being a fiat does not mean that the USD is not investable. Also, many are using BTC for payment now because of accessibility and low fee, what if CBDC comes with a better offer? Let it be out before we conclude. Jump to: