Quote from: mu_enrico on Today at 07:05:44 AM

Quote from: deisik on July 21, 2020, 04:26:09 PM

Put shortly, digital currencies issued by central authorities cannot on their own pose a real threat to Bitcoin and undermine its value proposition coming from its decentralized nature and capped supply, especially in the long term.

True, and don't forget the pseudonymity and the borderless nature of Bitcoin. With CBDC, perhaps KYC will be mandatory, so people's financial activity can be heavily tracked... Good bye online gambling! And it's easier to convert BTC into local currencies at the moment (well, based on my experience dealing with both). I think CBDC & fintech products are competing in the same market, but not with Bitcoin

There's another issue which I decided not to touch in the article

If the idea of a CBDC is implemented to its full potential, it will strike against today's bankers (not central bankers, though). Really, if people will be able to transact directly through a central bank (as Roubini suggests), what is going to happen to commercial banks? Indeed, if they are no longer needed, it will free one hell of a lot of resources (read, it is a good things), but I don't think many bankers will be happy

Quote from: mu_enrico on Today at 07:05:44 AM

Anyways, it is definitely not a blessing since Bitcoin will move towards a niche market if it cannot compete as mainstream everyday e-cash. Like I said:

Quote from: mu_enrico on June 28, 2020, 01:11:56 PM

Perhaps it cannot become a currency, but it certainly can become useful money.

I don't agree, and I explained that point in the article. CBDCs will be a new payment system essentially, not new money. So how can it hurt Bitcoin beyond what regular fiat does?