Bitcoin Forum

came across this and thought I would share on here.

https://www.youtube.com/watch?v=lFgwRCl4ghs&ab_channel=TraderUniversity

give ethereum your energy to build your own digital prison in the future?

what you guys think

I doubt it, china's very own CBDC isn't build on Ethereum and for the hate that's still alive against crypto many CBDCs might be standalone, fresh blockchain of sort, this is the government we talking about here.

As for the video, the guy said PoW is what makes BTC so special and neutral, for me it's a big mistake that Ethereum is leaving behind something that bring the project this far, I hope things works like the maker dreams.

This is the reason why Ethereum is not fully decentralized because there are still a few people who have full control over the Ethereum infrastructure. They can manipulate Ethereum at any time and we can't prevent this, because from the start Ethereum has been developed with a consensus system and everyone has the right to participate.

But before that, what will happen to Ethereum must be seen from two different sides. And this video gives us a warning about how Bitcoin is the one we can't leave behind. He also opposes those who say the environmental impact of Bitcoin. I think Ethereum will eventually become a CBDC in more difficult terms. With Bitcoin, everyone can run their own node, in Ethereum you put your trust in other people's nodes. My conclusion is that Satoshi was right in creating Bitcoin.

As he said: Ethereum is really a betrayal of the whole crypto revolution of the Satoshi revolution the essence of crypto cryptography and cryptocurrency is to verify not to trust but the way Ethereum is regulated is to make sure that you trust people like vitalik and joe Lubin.

Ethereum is no more a decntralized project, going proof of stake have proven this and yes it thus look like something that CBDC can work with but I am not sure, all I care about from the merge is a cheapest gas fee rate, PoS? Not really sure that this will make Ethereum more valuable but I heard the project will have fixed max supply so that should help.

IMO, Ethereum doesn't represent cryptocurrency as a whole. Yes, ETH is the one that thrives for a smart contract program, and it does successfully built such kind of platform. Nevertheless, it doesn't have to adhere to the root essence of "don't trust, verify". Regarding centralization, well, ETH already has issues back then when they revert the blockchain, and the main thing is, ETH userbases are mainly ignoring any decentralization, so it is expected to see how ETH will become.

And why should CBDCs even be hosted on some blockchain to which the state does not have full access? The whole point of CBDCs is complete autonomy and centralization, as well as complete control by the state. Most likely they will be run on their own blockchains, where they will have all the leverage and control, they don't need someone else's networks for that.

CBDC is a government owned project and most probably, they will have their own system where they can fully control the chain so I doubt about ETH becoming the home for CBDC. Well, future updates might be more like this, the slowly trend of CBDC are now getting into more territory and many countries already shows interest to have their own digital currency. I hope no cryptocurrency will involve on this because the purpose of crypto is not like this.

No way, CDBC will be in a Database controlled from the central bank and will require permission. It's just a scam

Maybe if it's just a stable coin that could be traded in an open market but not when it's a privately utilized coin like CBDCs. Creating CBDC on an open chain is like the US asking China to manage USD.

Exactly!

How is CBDC a scam? It's a digital version of fiat with a twist of blockchain an not a crypto to begin with.

For starters, they sell it as a Bitcoin or crypto subtitute, and there's not. On the contrary, if they remove cash, crypto will be the new Cash.
They have no idea how to do it . Digital version of fiat already exist with the super complex banks and institution networks. Now they are just trying to remake that network so they go faster and ¿cheaper? ¿for who? ¿How the Digital Euro will interoperate with Digital Dolar or Yuan? The whole idea is stupid. They don't get what this is about. They're just going to improve some of the friction in the system, but in order to do that, they'll have to make political decisions that will impose who wins or who loses. Crazy. 

If Ethereum has a max supply after Vitalik develops Ethereum with an unlimited supply, then Ethereum nodes are still mutable, meaning that Ethereum is not decentralized. But what is echoed today about decentralization will be contradicted itself.
But I'm not so sure what it says. China continues to reject crypto today, not that they are against crypto, but rather have plans to develop their own blockchain. In fact today China has accepted Bitcoin and Litecoin as digital assets. Not as currency.

Indeed, CBDC has not yet been part of the blueprint for the working group on the development of the money market and payment system. This is because CBDC concerns technology platforms and so on.
There are several cryptocurrencies in the market right, but few of them including Bitcoin and Ethereum that can be taken seriously. They are like Dogecoin, Shiba Inu, and coins from other memes. So, at some point, one has to decide which cryptocurrencies are acceptable and allowed to exist in the economic system.

That's how people feels over bitcoin that it's not a decentralized currency any More, their is no fact prove to indicate that Ethereum is not decentralized currency any more, each coin have people who is projecting them in the market, or the supporters that pump's it's market,