Topic: Will digital dollar be a threat to bitcoin? - page 4. (Read 2614 times)

Don't forget that bitcoin is also a currency other than being an asset. Digital dollar can be use an alternative to bitcoin in terms of currency use. They are stable and perfect for those who get annoyed in the volatility of btc when making a transaction. Digital dollar has their own value but they are not a store of value because they are not like btc which you can put more money in it.

The only problem with btc is that its value can sometimes dump hard but the real definition of store of value is that assets that don't depreciate in value. Btc can recover if given enough time, I think this is the reason why they insist that btc is a store of value.

BTC is freedom. Decentralized and stealth. Many people who are engaged to BTC will never use something like Digital dollar issued by government. That will be centralized and with that you loose the freedom of what comes with BTC and also blockchain support.
Keeping your identity hidden and not share those are the key factor in BTC.
We will keep pushing until BTC becomes legalized all over the world. Digital dollar is nothing compare to BTC.
Wait for the day till it happens.

Personally i won't use this. I strongly prefer BTC

The phrase "Just to simplify the transaction" it means to make easy the way they transact.

I think you misunderstood my answer (which you replied to). I don't think CBDC is better than Bitcoin or other cryptocurrency/altcoins,  I said CBDC can't be different with other electronic money. Please read it again.

Nothing is being made simplified here as long as it is CBDC it is thesame fiat and you cannot compare fiat with bitcoin by any means, no transaction is simplified yet with CBDC, and why we left fiat was because of one of its major inconveniences on cross boarder transactions chaeges, scalability challenges, and many more, no body ehoy is into bitcoin will wanted to go back with the centralized financial institutions only to embrace KYC and regulations unfavourable to holders of the currency, this makes bitcoin serves the solution to what the people needs.


This may applies to other cryptocurrencies often regarded as altcoins and not with bitcoin


If you never experience safety before with the cyber digital world then try and have an ex with bitcoin and see if your privacy, security, anonymity and many other relevant financial indications won't be meant and secured, don't bebtoo involved with fiat such that all your trust rely on them, if you ever had their bad experience then you will drastically effect a change in your decision and approach towards them.

I think CBDC will be an electronic money only. Just to simplify transactions, cross-border payments, toll and parking payments, and taxes. There is no different with paper money except digital form. They say that CBDCs are safer than cryptocurrencies, but they use blockchain technology which has been the core of cryptocurrencies, and they are forgetting that nothing is safe in cyberspace.

I'd see nothing like that OP.
People love the new technology where digitalization comes to a realization. Bitcoin is another form of digital currency, the same as digital dollars, but what do we call these ATMs? Are they still a threat to Bitcoin or vice versa? They are not killing each other which we can say was a threat but consider this an option and as an opportunity for all of us to live to have them. It was already been expected that the government will create their own digital currency but this never mean it theaten Bitcoin. They have their purpose and it remains as an alternative option other than paper money.

There is no doubt that digital dollars pose a threat to bitcoin, as they offer all of the same benefits (anonymity, security, and lack of government control) while also being backed by established governments. This gives them an advantage over bitcoin in terms of trustworthiness and stability.

That said, there are some advantages that bitcoin has over digital dollars that could keep it afloat in the long run. These include its faster transaction times and lower fees. So it's likely that both currencies will continue to exist side-by-side in the coming years. As for how this will play out for online gambling sites like Stake Casino US, only time will tell!

We are the Era of technology and information, which government are still in process to regulate cryptocurrency as a means of digital assets payment, which is applicable to digital dollar to Bitcoin that coming to a gradually process to reality as a means of word global digital assets not only in USA.

Right mate. Visa, Mastercard, and there's Paypal and the online industry is becoming a norm with stores like Amazon and eBay becoming huge but we haven't heard of any governments creating CBDCs. CBDCs only came up serious when Bitcoin and some of the top altcoins like Ethereum became big from millions to billions and then they just continue to grow bigger reaching into a trillion-dollar industry. Governments and banks tried to stop the growth of Bitcoin before but to no avail. Big companies are starting to realize the value and potential and they are also starting to adopt. So someone tells us if Bitcoin is not a threat to this old inflationary centralized monetary system?

Bitcoin leads to the creation of CBDCs. And you're right mate, CBDCs can remain as primary currencies in this growing digital world but they also exposed their citizens to Bitcoin and crypto. Sooner or later, more and more people realized the importance of privacy and most especially the limited supply of Bitcoin compared to the unlimited fiat supply. The weakening of the US dollar's influence on the world market due to Chinese competition and the current arms race and mobilizations lead people to just select a decentralized currency like Bitcoin since it is not directly affected by politics.

Both of them are in digital form, and this gives an option for the people which one to choose. As you can see, there is no threat to existing as it remains these two are just a sort of payment option to where people like to use it depending on the availability. In fact, we can't even say that ETH and other cryptocurrencies are a threat to Bitcoin also knowing that they all have their market role to play just like the digital dollar.

We also have Digital Yuan, it is to see that many countries will do the same creating their local currency in digital form just to give convenience to their netizens as well.

No. Digital dollar is like a fiat currency that is only digital. It’s not a long-term investment like Bitcoin. Plus, Bitcoin has additional advantages over dollars. Dealing in bitcoins is more secure.

Digital Dollar will not be a threat to Bitcoin at all. Earlier we saw that China launched its own currency but Bitcoin was not harmed.From here we can say that there will be no loss for Bitcoin no matter which currency it comes to.Those who will use bitcoins will not leave and use bitcoins in whatever currency they come in And even if the digital dollar comes, it can be beneficial for our Bitcoin, as if the transaction system is launched with Bitcoin, it will definitely be beneficial for Bitcoin.

I really don't want to think that bitcoin is going to be a threat to fiat or the dollar, to be honest this is not good for bitcoin. It is this thinking that has led the government to be wary of bitcoin and even they are seeing bitcoin as an enemy, seeking to eliminate bitcoin from our lives. We still live in a world where the government is still controlling us, so don't try to fight them, bitcoin gives us freedom so we should take advantage of it, not show the government that bitcoin will replace their power. I like to think that the two will co-exist and be able to support each other.

You can say that again. Bitcoin is really the threat of the digital dollar. Not the other way around. Governments (including the US) are afraid Bitcoin will take over the global economy, urging them to launch CBDCs of their own before they're left behind in the dust. I'd say they will succeed with the launch of the new digital cash system, but they will be unable to "defeat" Bitcoin because of its decentralized and censorship-resistant design.

In fact, I think CBDCs will be beneficial towards Bitcoin because they will increase awareness of digital currencies all around the world. People who haven't heard of or used crypto before, will get into Bitcoin when they hear paper money will be phased out of existence for good. Now the question would be whenever the USD will be able to retain its place as the reserve currency of the world right after it becomes a CBDC or fall all the way down the drain. If the US quickly launches its own CBDC system, then it's likely the US Dollar's position will remain unchanged. But be aware that China has already been the pioneer in CBDCs, launching the "Digital Yuan" before anyone else. It's a highly-competitive world out there, but at least we can be sure Bitcoin won't be going anywhere soon. Just my thoughts

It will not be a threat to bitcoin because bitcoin is not  not competing with dollar, but I believe some countries are affraid to adopt bitcoin because of the dominant nature of it. The digital dollar will make things easier for bitcoin users because it will make transaction more easily. Many countries have already launched or created digital currency but most of them are not working. Citizens are not even using them to do any transaction. So they become redundant in the ecosystem. The existence of the digital dollar will be achieved but the different is always clear. Dollar is centralized system of service while bitcoin has a decentralized system of operation so there are of different uses.  
Like the Nigerian Enaira, since when it was launched I have not even open the app to see how it works but I only heard that there is Enaira but I am not using it. This case might different from dollar because dollar. But the number of users of bitcoin will still supersede dollar.

There is a tin line between digital currencies (CBBC) and Bitcoin because Bitcoin plays multiple roles in the financial system, but the digital dollar is stable and not in the class of asset, while Bitcoin can be used as an alternative to the dollars, and also an asset the digital dollar, on the other hand, can only be used as a currency.
So instead digital dollar is a threat to Bitcoin I will say the reverse is the case but in this situation, it is a win-win since both the digital dollar and Bitcoin can co-exist

The US government is being careful, which is why the digital USD has not been established yet. This might be a blockchain or another project, but either way, it would be a centralized project, and it will not be able to compare itself with Bitcoin which is decentralised. It will only wreck some online fiat payment systems if care is not taken because the US government would have given individuals the right to own their digital dollar that would be backed by the Federal Reserve.

Well, many CBDCs are already expected to launch. They are coming and it is normal because the world is turning digital. The digital dollar of the United States will be successful of course. But is this a threat to bitcoin? It is simple, the digital dollar is the same fiat inflationary centralized money while bitcoin is secure and decentralized. Maybe the question should be made the opposite because bitcoin is the real threat to this old centralized fiat system.

What governments want is full control over the monetary system. And the only way to do this is by launching a digital currency of their own. Once the new system is up and running, people will no longer have privacy over their finances. Everything will be visible by both the central bank and the government on a distributed digital ledger only they can control. It's the perfect kind of money for a totalitarian/surveillance state.

I don't see how this would work well in a democratic country like the US, since this takes away people's freedom and privacy. The emergence of the digital dollar or Euro won't be a direct threat against Bitcoin, but it will have some impact on Bitcoin's mainstream adoption. It's likely more people will join government-backed digital currencies while leaving Bitcoin behind in the dust. You can expect government propaganda and misinformation in order to prevent as much people as possible from using Bitcoin. We shouldn't be worried about this as long as Bitcoin remains decentralized. Just my thoughts

I do think that the digital Dollar is going to be only moderately successful, similar to the digital Euro. These digital currencies are not in a direct competition with Bitcoins and other crypto currencies in my opinion, rather competing against other Fiat currencies. The main idea behind cryptos is to not be influenced by governments and be independent from national central banks. With the digital Dollar this is not the case, it's another from of the Dollar that is controlled by the FED. As long as politicians can decide to print money freely there won't be crypto investors switching into that currency. Another factor that is making the digital dollar less successful is that the world is trying to move away from the US Dollar as the number one reserve currency. Most of the international trade is still being settled in USD, which creates some demand for the digital Dollar, but the world is moving more and more into bilateral trade bypassing the dollar.