Will mainstream users care about the difference?

[witcher_sense]

If we are talking about a specific centralized cryptocurrency, then, of course, the authorities will offer any advantages if this cryptocurrency is used, if in general, then the cryptocurrency should not be subject to centralization, since this is a transference to all its principles

The absence of intermediaries between payers and payees is one of the main attributes and also what makes cryptocurrencies interesting in the first place. The use of cryptography and blockchain technology allows for trustless minting, immutable transaction recording, absolute transparency, unchangeable monetary policy. That is a decentralized system governed by consensus rules, upon which all the participants in the network agreed. If the rules of any given system are not the law and subject to changes by the minority of rulers, then it is not a cryptocurrency, it is just another form of fiat. It will have the same advantages and disadvantages as government-issued money.

[josepaez]

I think cryptocurrencies mainstream adoption will be a hard thing to accomplish because of the "difficulties" of having to control by yourself your decentralized money and wallet. But time is the only one who will say if it will become even bigger than it is now or not. There are regulations coming, so that may be also a changing factor in the future... we shall see.

[fishbonez11]

it won't matter. what matters is if they can spend it to buy something and can be kept like fiat, it's good. they are not conscious about these things even if they are going to be educated about it decentralization and privacy. but the number of people who care about these is growing though.

Mainstream users might be considering to jump in to Cryptocurrency. They care how they can get their funds grow. Knowing that large companies have adopted Bitcoin like PayPal whch i has very large population, it will surely gain even more popularity and people to invest in. Thus, anyone who has good offer for money, they will choose the side where they can earn more.

[Paycoinzzz]

Assuming that they can receive and send their money quickly and conveniently with ecash, I speculate that they will never care about the difference between centralized and decentralized.

Would this not hurt bitcoin as a currency? Would this not only encourage bitcoin to be used as a speculative investment? How about mainstream adoption?


Read in full https://www.coindesk.com/pboc-governor-says-successful-digital-yuan-trials-have-transacted-299m

Despite the small success of high transaction demand in China, it is actually very difficult to approve Bitcoin.

As Yi Gang said, this is just the beginning of a demo implementation using cryptocurrencies and their legal framework remains their biggest hurdle. It is really difficult to accept cryptocurrencies because if they cannot manage it well, money laundering will happen soon. And that will certainly affect the general economy in the future a lot.
So we should only be happy that China is showing a positive signal about Crypto, but the announcement of its widespread use has to wait a very long time

[kryptqnick]

Assuming that they can receive and send their money quickly and conveniently with ecash, I speculate that they will never care about the difference between centralized and decentralized.

Would this not hurt bitcoin as a currency? Would this not only encourage bitcoin to be used as a speculative investment? How about mainstream adoption?



The governor of the People’s Bank of China praised recent tests of its national digital currency at the Hong Kong Fintech Week conference on Monday.

As reported by Bloomberg, Yi Gang said the pilot program, which has spanned multiple Chinese cities this year, has proven successful.

Over 4 million transactions totaling more than 2 billion yuan ($299 million) have been conducted using the digital yuan, Yi said.

Financial services in remote areas have been bolstered by new technologies, the governor explained, including microloans and risk management, which plays into how the China is looking to spread the digital currency.

Read in full https://www.coindesk.com/pboc-governor-says-successful-digital-yuan-trials-have-transacted-299m

As the TV show suggests, even though they'd be fine with ecash, it gives certain new opportunities of improving the world that with using fiat. I think most people won't care much, but they wouldn't mind fellow admirers of decentralized coins using their cryptos. And for now, I don't see any successful centralization cases that worked out, while Bitcoin is doing pretty great. The thing is, unlike in Mr. Robot, we don't have such a monopolist that would also be in bed with the governments, and thus even big companies face opposition in the forms of harsh regulations when they attempt to create a powerful centralized cryptocurrency (I'm thinking of Libra now). So maybe they won't become a trend after all.

[jaberwock]

I’m still believing that Bitcoin will have the upper hand in a fight with the CBDC, unless the government themselves will start fighting against Bitcoin by declaring it illegal and punishing those are making use of Bitcoin to cause fear among them. If not that way, then Bitcoin will continue to be at the top.

From what I have read once, CBDC is quite different because it’s backed by the currency of the country that issues and it can only be used in that country and you can’t send it out like you can send Bitcoin to anyone around the globe. So Bitcoin is still winning, and these CBDC is unnecessary, I will even choose to make use of PayPal than the CBDC, at least PayPal will allow me send money to anyone anywhere.