Post
Topic
Board Economics
Re: Do we truly need cbdc when bitcoin already exist?
by
Argoo
on 28/06/2024, 05:05:58 UTC


I think CBDC is something we cannot avoid whether we like it or not, so it is inevitable that we will be controlled more. I'm thinking the worst when cash disappears and all our transactions are done using CBDC. Our smallest transactions will be controlled by them.
Although many people say that paper cash may soon disappear from circulation, I do not believe it. Cash in general is needed by both the state and people. After all, in order to make transactions with cash, you do not need the participation of banks or technical means. This is very convenient for small household transactions. But it is worth recognizing that their turnover is not cheap for the state. Therefore, the amount of cash will decrease over time. Cash also virtually cannot be tracked by the state and this is its absolute advantage over CBDC, which are completely under the control of the state.

The emergence of CBDC is a phenomenon of the times. They also have their advantages and disadvantages. For privacy and anonymity this is worse, but for the speed of large transactions over long distances involving large firms, CBDCs are very suitable.