Bitcoin Forum

We all know how goverment can't move on from fiat and create it as camouflage crypto called CDBC, they try to make competition because crypto has grow up everyday. And in fact some country was implemented the real crypto, bitcoin as currency and can be as payment.

The government try to centralize crypto and want to control it. So be carefull CDBC is not crypto, but camouflage the new fiat.

Governments want to make the masses believe that the new CBDCs will be the digital currencies of the future but obviously compared to Bitcoin, these currencies will only worsen the current situation as fiat money remains a somewhat anonymous method of payment, something that could be easily traced with a centralized electronic currency.

I believe no one here believes CBDC as crypto since it’s just a digital version of fiat that store on centralized ledger.

Banks needs to level up their game since crypto is already starting to make some noise on financial world. There’s a lot of free money flowing on crypto that supposed to be with the banks alone if crypto didn’t exist. Simply they are trying to disguise as crypto so that normie user will use it instead of the stablecoins available on crypto.

Personally I’m neutral on this topic since most of the stablecoins available in crypto has a high risk to fall down in near future like what happened on UST while USDT has a lot of shady background. I feel more safe putting my money on my country CDBC rather than crypto stablecoins in long term if my purpose is just to store my assets in stablecoin.

CBDC is fiat. The only difference is just the fact that they might be using a blockchain as a database instead of the typical SQL database.

First, we have to understand that there is a difference between cryptocurrency and digital currency, and even a newbie should be able to differentiate between the two.

Cryptocurrency has to do with blockchain technology while most CBDCs are just centralized digital currency that is org with a national currency and it doesn't have any element of decentralization like cryptocurrency and CBDCs are controlled by the government.

Do you think the whole crypto that listed on coinmarketcap or coingecko are decentralized? come on, only 0.01% that actually 100% decentralized while the other is centralized!. Also if you're using centralized exchange to buy and sell your coins, this mean you're not care with decentralization!

I don't understand why there's many users are complain with centralization while you're still use anything that centralized.

To be honest CBDC is more trusted than USDT, USDC, BUSD etc since most banks will offer insurance if they lose their fiat (although there's no proof if it will be same to CBDC).

They did not actually make it as camouflage, instead it actually a FIAT. There is no foundational difference, the difference is mainly in the form of it, which is it exists digitally and is more centred than current electronic cash. If they really want to make decentralized cryptocurrencies to became less decentralized, doing it via regulation is way simpler compared to making a psyop of crypto camouflage.

All in all, a truly decentralized system is hardly controlled by a centralized entity. And here is a related quote worth remembering from Satoshi:

They're just telling that it's also crypto to their constituents but the mere fact, it's not. We can't stop the government from doing that and that's why educating everyone is a must.
The government will just have to implement this on their own and their citizens will just have to follow no matter if they liked it or not, there should be a need for them to tell that it's not a crypto.

You should take CDBC in same way as you take USDT, isn't decentralized either, and no one is even saying it's decentralized or "crypto".
But difference in CDBC would be that people would actually trust it. It wouldn't need to be backed by fiat as it would be fiat.

However there isn't yet a blockchain that would work in a way that would keep regulators happy about issuing CDBC into it. So far every experiment on it has pretty much failed. I could still be years away.

That's just the way it is. CBDC is an attempt by central banks and governments to occupy their niche in the crypto space. In doing so, they solve the problem they have with real cryptocurrency, their pseudo-cryptocurrency can now be controlled, blocked, etc. Handy tool in the digital world, the only thing left is to convince all crypto users that CBDC is the real digital currency with the state as a guarantor, but those who understand will not buy into these tricks and will ignore these centralized state shitcoins.

The governments have understood well about the growing crypto market. To stop its growth is a tedious task and to have competence is possible. In such a way the risks of cryptocurrencies were briefed and the solution is achieved through CBDC. This is how CBDC were getting marketed. Most of the cryptocurrency users understood well about it and stands away. Even after years the CBDC developed on different countries can be seen as now, but it'll be hard to see cryptocurrencies in the similar level of growth.

For maximum control to their people. CBDCs are pushed for the sole purpose of being able to control every aspect of people's finances, and to keep track of their spending activities more than ever. In cash it is way easier to obfuscate your tracks and all, hence why a lot are still successful in their money laundering schemes. This might be what the gov'ts use as a preface to their agenda on introducing CBDCs but it really is much more than that.

CBDC are simply another form of money that will have circulation on a par with cash and non-cash forms of money. But given that the CBDC will be created on the blockchain, the government will be able to track every transaction for any period of time.

Forget about CBDC, there is another level fight is going on between SEC and CBDC. It was old news may be a month older, where SEC is trying to get as much authority as they could over Bitcoin. In the official statement released from them they suggested the court that Bitcoin is trading instrument and it is also matter of high volume money involved and thus it should be entirely watched by SEC. That's funny how eagerly they want to control it. As if they can just put stop and run buttons on their system to control the bitcoin. Let us not forget Bitcoin white paper and how it is made. It's still going to be free from the traditional work methods.

I do not agree that governments cannot move away from fiat; I mean it might take some time but when more than half of population of a nation adapt and demand then governments may follow El Salvador. CBDC must be an intermediate attempt by governments to deviate people from the attractions of cryptocurrencies. It means people will follow the most convenient and beneficial thing which must be cryptocurrencies (considering against fiat or CBDC), but before people realizing all the potentials of cryptos, government will play all the drama and CBDC must be one of them.

Moreover, CBDC is not a centralized version of cryptos but it is another form of same fiats without any physical existence.

I don't think we should look at CDBC as competition per se, the two have different structure. We all know what crypto does to us, I mean we can make money out of it by investing and holding thorough the years.


Yes, with CDBC they can track it, how and where you used it which really defeats the purpose of crypto.

However, I think someday will might be force to used CDBC though, specially if this is going to be mandated by our government. I mean I'm seeing it as the only "currency" we can used if we want to transact to government agencies. And if it is treated as regular fiat then I guess there's nothing wrong with it. Of course, we still be very cautious of it's usage as as I have said, they can simply monitor us with their CDBC's.

Everyone in the crypto field understands this for fact. Governments are using blockchain but that is a private blockchain where common users would not have access to. So even if the government is trying to publicize CBDCs as crypto, people with basic understanding of crypto will not agree to it.

But there are multiple benefits for the government to push for a digital currency. They can have a bird's eye view on their citizens financial data. Tax evaders will be caught more easily, no money printing cost etc.

By issuing their own CBDCs, governments are significantly improving how their cashless payments work. They become faster, cheaper, more economical, and work efficiency increases significantly. It is hardly possible to agree with the opinion that CBDCs are created in order to resist cryptocurrency. States have enough other leverage to fight cryptocurrencies.
Yes, CBDCs will be completely under the control of governments, but their non-cash transactions were also under their control. So nothing has changed in that regard. CBDC can be considered an improved form of non-cash government money and nothing more.

Crypto users and investors are not stupid, they knew the benefits that comes with using keeping, and holding Bitcoin compared to a centralized stablecoin.

Most crypto investors invested in Bitcoin to stay off the radar and buying CBDC will destroy that privacy, you will be on track just like when using Fiat, if CBDC ends up becoming something many will use it like Fiat and that's all but the adoption of Crypto will prevail.

They cannot fully do that and they need massive support from the banks which will gonna fund them to further promote this kind of propaganda to bury the idea of Bitcoin as payment. They wanted to get their hands in this field and you were right, they want to take control and make their own version of it we all know how fake it is because it's all Centralized and they still have full control of their created crypto.

Maybe people don't see the irony that with open blockchains everyone can track you. Which is one of the main reasons bigger companies avoid to use it as payment. They need confidential transactions to prevent front running in the markets for example.

It wouldn't be that different from the current banking systems regarding of privacy. I mean it will be more cost efficient, faster and as a standard, it can be easier to implement to everything. And it would make some current third party payment systems irrelevant. Monitoring is only one reason for it. They are already monitoring money transactions and privacy or pseudonymity on those is pretty much gone with physical cash money going next.

I am guessing that it would be even further ahead in the banking system world, because in the banking system you could still "hide" some stuff, like show as if you have a loan from a bank, when in reality someone else deposited laundered money for you, and basically you are using bank as a front.

You think that might be low chance but Deusche bank or something like that did this in tens of billions levels. Russian mafia used banks to put their money into it and then paid out big names in the world with loans that is not needed to be paid back. Such as Trump for example, took out a loan, and didn't pay it back, because it was basically given to him in a disguise.