Quote from: Cryptions on March 29, 2022, 12:43:18 PM

I see CBDC very worrying what comes to "traditional" cryptocurrencies. Governments are going to regulate cyrptos to the death and take market share easily.

They don't have to say it, but governments can use for example "airdrop" to make their CBDCs the most held crypto in the country/world with a push of the button... just create "wallets" for everyone based on for example social security numbers, etc., and airdropping a few crypto dollars to every citizen.

In a such scenario, what are the ways for Bitcoin and alts to compete? ...and ultimately there are no rooms to compete because of regulations, you need to be a bank to be allowed to exchange etc cryptos. We're not yet there, but dreams of wide adpotion will eventually turn against the whole crypto community. Let's have fun as long as it's possible, and create cryptos that are REALLY decentralized and impossible to regulate. That's the only way to survive in the long run. Trust me.

Exactly. The launch of CBDCs will put crypto to the test as governments increase regulatory pressure. By encouraging the use of government-issued digital currencies, most people will have no need to turn to crypto as an alternative payment system. A Digital Dollar would be as fast and cheap to use as crypto (probably even better) with added convenience. Only those who care about their privacy or want to escape from the clutches of central banks and governments alike will use crypto for day-to-day payments.

One thing for sure is that increasing regulations will only do more harm than good for the mainstream adoption of crypto/Blockchain tech. We should expect constant opposition from governments in order to force people to use CBDCs. Ultimately, it's all about decentralization. As long as decentralization wins, we'll have nothing to worry about. Just my thoughts Grin