Quote from: Silberman on Today at 05:14:26 AM

Quote from: Hewlet on October 03, 2023, 04:06:18 AM

CBDC (central bank digital currency) are digital representation of a country's official currency managed and regulated by a central bank. The idea is to provide an alternative to digital cash allowing faster transactions and increasing financial accessibility.

Its centralized nature allows the government to directly issue currency to citizens at the whim of central banks

This obviously means that they can not offer the same level of autonomy or censorship resistance that bitcoin offers

The fact that its implementation can lead to potential surveillance and increase government control over finance is something to be worried about.

Considering the fact that bitcoin has earned an high level of trust, security and borderlessness from it user with an inherent monitory policy brings the big question;

Do we really need cbdc now?

This is an example of the proverb ‘if you cannot beat them, join them’ governments all around the world have tried all kind of strategies to eradicate or to at least slow down bitcoin and they have failed, so what they are trying now is to create their own coins hoping to dupe enough people into thinking their centralized coins are better than bitcoin, but even if they could achieve their objective and deceive a lot of people, they will never deceive us and we will keep using bitcoin regardless of any strategy they may come up to counter it.

They have failed to contain bitcoin so maybe they try to control it by introducing this new coin. But I doubt this can eliminate bitcoin since to many challenges has been passed and even government cannot move it until it get no demand. But for sure their are people will adopt this coin since some may think that centralize coins is good coin to have but it will just be traded together on exchange so most provably this CBDC will became another alternative coins like USDT and other stable coins. Those people who want to control the industry cannot really deceive people about its existence but rather they will continue to adopt bitcoin for betterment especially for profit generation, people know that bitcoin could give them more better profit rather than holding a coin created by them.