Topic: new central banks currenicies vs fiat currency? - page 4. (Read 712 times)

CBDCs won't make Bitcoin and Ethereum obsolete. Bitcoin and Ethereum were not experiments created for the eventual unfolding and issuance of government-issued digital currencies. On the contrary, CBDCs are to be issued as a sort of response to the current monetary system being disrupted to a certain extent by the rising popularity of Bitcoin.

There's a lot of wrong with fiat, but worry not it won't change much with CBDCs. Cash works but it means little opportunity for the government to monitor its use. A digital version of it would make everything smoother for them. But the change would certainly be gradual.

As for its value, transparency, control, and so on, they are all the same with the old fiat. Government's digital currencies are fiat currencies.

Those who watch the news may have noticed the media's tendency to be negative towards monopolies. They say US big tech is a monopoly, which must be fined, penalized or broken up under US anti trust laws. And that consumers and industry could greatly benefit under free markets if there were more business competition. As opposed to monolithic, centralized, monopolies. Which have a tendency to result in industry wide stagnation and poor terms, prices and conditions for consumer markets.

These observations apply to fiat currency, which could be considered monopolies. Governments who issue fiat could benefit from having competition as could businesses and everyone else.

Many are extremely negative in their stance on bitcoin. They claim bitcoin undermines government authority and is an attack on the state. Its not. Bitcoin only gives governments the competition they need to build a better, more stable and reliable fiat currency. The same way that competition between AMD and Intel gives consumers better and more affordable CPUs every year.

The fiat currency works really fine and that make transaction to be done smoothly even if we compared to bitcoin or any other cryptocurrency use for digital payments.
But because of the love of cryptocurrency this is the reason why many bitcoin users like more of bitcoin instead of fiat. There several reasons to enjoy in the use of cryptocurrency.

first, is by having p2p transactions no third party service involve means lesser fees to be taken away from you in a certain transaction
second, cryptocurrency is an asset had its value from fiat currency when traded to it just like gold. Gold will have no value if it could not be traded to fiat and fiat could have no value too without those asset like gold. The value of fiat was determine by the value of the economy that represented by fiat currency. And with asset like gold then it can make fiat currency greater value same as to cryptocurrency.
third, being anonymous when doing transactions. Because you only see wallet addresses involve and no names needed or identities being exposed after making the transaction. This is why government are afraid and does not approve or legalize cryptocurrency because it is a subject for abuse like money laundering, funding terrorist and etc.
fourth, cryptocurrency is a form of investment. Many had earn on it but many too had made losses. Remember that while are earning buying crypto in cheaper price others are losing when they buy which is more expensive than the latter who first bought crypto.

This is the question that we will never know. We don't know who created bitcoin but we know why he/she/them created it but at the same time we don't exactly know if that's the real reason or the reason that author wants us to believe. It's possible that governments are behind it but at the same time I doubt that because it was proven years ago how hard it was for governments to track bitcoin transactions (maybe it was done to blind us on a long term?).
There is nothing wrong with fiat currencies, I don't want full digitalization because in that case governments will have full control on numbers (money) and will be able to manipulate them the way they wish, they even manipulate current fiats.

Btw who says that governments plan to create their own cryptocurrencies? Any currency made by them will be far from cryptographic.

i dont know if fed created or not how i know ? i wasnt there lol:D i can only say what i seen or i know for sure.

Are you the same as those guys that are having conspiracy theories about bitcoin was being made by the fed? Don't think a lot from that speculation as cryptocurrencies aren't the testing or beta for their digital currencies. In fact, there were already digitalized payments before the launching and stage of crypto being recognized. The government has cope up whichever is the trend, they don't want to be late and they see the real growth for bitcoin. If they create cbdc, they are recognizing crypto but they only think that they're better because they can adjust, freeze, add supply, reduce the supply and other controls that they want to. But if you analyze it, they will never be par with crypto which have been considered as a good investment unlike cbdc, they're just printed money that upgraded to digital.

but maybe they dont show us nothing lol:D
as this pandemic laws are getting more strong and we will soon have more rules but not rights so i dont think we can ask anything at all lol

No! Governments are only afraid of bitcoin and decentalized cryptocurrencies because people are continuing to adopt it, they already know cryptocurrencies are the future currencies. But, governments are only compromising what cryptocurrencies are, cryptocurrencies  are supposed to be decentralized, but governments are working hard to make it centralized it.

When the governments have already dawning to know fiats are not accurate enough when it comes to transparency, and that cryptocurrencies can be created in a more transparent way and hard to edit or manipulating ledger unlike fiats.

Governments are governments, their centralized cryptocurrencies will be controlled like normal fiats which are depreciative assets. So, governments owned cryptocurrencies which will be centralized will be manipulated in price and value like fiats, which means the governments cryptocurrencies will be depreciative assets, unlike decentralized ones like bitcoin that are appreciative assets.

Government owned cryptocurrencies will be transparent if they use a transparent and impossible to edit ledger, but let us see if such will be the case. But, know that the centralized currencies, be it fiats or cryptocurrencies will be a depreciative asset because it will be subjected to manipulations in term of prices and values.

the goverments have plan to create their own cryptocurrenicies, so the btc and eth was just testing currencies to see how it works and get people to use with cryptocurrenies?
first whats wrong with fiat currency? the cash is works good nothing wrong with this.
second how they are going to control how much to issue the currency and how the value will be backed?
and by who the transparanscy is guranteed?