Poll: coming CBDC help or hurt bitcoin?

[dunfida]

Central bank digital currencies (CBDC) are coming fast. Recent article focuses on impact of digital yuan (likely first) to dollar, but what impact will it have on bitcoin or any?  I know they are not the same thing, but will eventual widespread adoption of government issued e-currencies (a given IMHO... just when) help or hurt bitcoin?

It doesnt help nor give an impact.This digital yuan is no different with fiat and we know that it cant really make an effect on Bitcoin market.They can switch all they want
but to think that making your fiat to digital isnt something new.So just let them be on what are the things they do wanna like to do.It wont be a surprising thing
if other government would do the same thing or do such trend yet crypto will always be a different market that doesnt rely nor dependent on other markets.

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[jossiel]

That could be a little help from it. I don't see it that there's a negative impact from CBDCs affecting bitcoin and this is just the first from it. I don't want to think that they've made it just because of bitcoin.

If CBDCs trial going to be positive from the people, they could at least understand that it's okay to have bitcoin as their holding. But differentiating CBDCs to bitcoin, we all know that bitcoin's got more value than those.

i guess the rise of CBDCs will have positive impact on bitcoin. because once these users came to know the benefits of bitcoin over their CBDC, they will switch to btc. but CBDC is a good stepping ground for new users to appreciate the value of crypto. and so they will discover soon about the advantages of btc over CBDC. so bottomline, we have nothing against CBDC, it is just paving the way to have more crypto or btc users

It might happen.

We're all good with the speculations and it's always there's good, bad and just neutral thoughts about it. Once we see it rolling, we get to know more about CBDCs.

People who will use CBDC if the government pushes it and if they start to have an idea about it, they'll also become curious about bitcoin, those people who really have no idea about bitcoin.

[cash wounds]

I feel like the CBDC's will help Bitcoin.  The CBDC's will be a gateway to the world of digital assets for the masses.  Depending on how they are setup and regulated,  it could make transferring fiat in and out of crypto easier, kind of greasing the wheels of liquidity.  I could see CBDC's being a new kind of crypto "stablecoin" if in the future we are able to flow into different asset classes seamlessly.  And the technology is constantly evolving so the future will look radically different than the present. 

[charlesmichel1]

I'm not sure if CBDC will be helpful for Bitcoin adoption, but digital currencies won't hurt Bitcoin. CBDC is just a modernized form of fiat we are using now.

[Shasha80]

I am one of those who agree that CBDC will help Bitcoin, because if it is true CBDC is officially used by all countries.
All digital payments will be impacted, including Bitcoin which should also be affected. Everyone will study all E-currency,
and will definitely start learning and using Bitcoin. Then Bitcoin will become increasingly popular, and there could be mass
adoption. So indirectly Bitcoin became famous due to the coming of CBDC. People will prefer to use digital currency as payment,
because my prediction in the future financial transactions will be cashless.

[DougM]

I am one of those who agree that CBDC will help Bitcoin, because if it is true CBDC is officially used by all countries.
All digital payments will be impacted, including Bitcoin which should also be affected. Everyone will study all E-currency,
and will definitely start learning and using Bitcoin. Then Bitcoin will become increasingly popular, and there could be mass
adoption. So indirectly Bitcoin became famous due to the coming of CBDC. People will prefer to use digital currency as payment,
because my prediction in the future financial transactions will be cashless.

I too agreed for similar reasons.   IMHO, CBDC will increase awareness and adoption of 'digital currencies' in general and since CBDC are almost on opposite sides of the DC's spectrum (centralized vs. decentralized, fixed cap vs. 'at the issuing government's whim' cap, etc..)  bitcoin will sought after by those seeking bitcoin's true virtues.

[pixie85]

No impact or help IMO. It's really hard to say if these centralized currencies will be understood by people. If they are then finally people will realize there are centralized and decentralized currencies and some of them may sway towards decentralization.

You as bitcoiners may find it strange but most people don't know what a decentralzied currency is.

[altcoinMaxi]

Wouldn't say its gonna hurt Bitcoin but it will hurt people not using Crypto. If you dont have the option to use an anon currency and are forced to only use a digital centralised coin. Orwell...

[Wexnident]

I'm actually glad that there's a no-impact option since seeing the thread title, I initially thought it would only help or hurt options which would be pretty stupid. There's honestly no impact at all imo, and even if there was, it would be a helpful one, but at a rather minimal level. Mostly because I doubt they would even clash with each other? It's not like Bitcoin is threatening fiat, heck, I'm more concerned about Gold here since the two have been compared as safe assets from so long now, as for fiat? As long as the government doesn't agree with it, I really doubt it would go nor would Bitcoin actually be more important than it. At most an equal level importance between the two, but a hierarchy of Bitcoin being superior? I doubt that.

CBDC aims to help people become more automated, improve QoL in other words. Cryptos, on the other hand, want you to take hold of your funds and be directly responsible for them, while having no risk at all of someone actually doing something wrong with it when storing it, since technically, only you can access it. Most would probably prefer the former, but that doesn't mean that they would hate the latter, since it doesn't really affect their lives.