State-Issued Digital Currencies - Why do you need to sell all your bitcoin

[wealthcoachnearme]

Hi Guys

I have been reading about State-Issued Digital Currencies and it seems that current bitcoin wont worth anything.

let me know what you think about it i am planning to write an article about it

N

[Darker45]

If I were you I won't proceed.

Well, may we know the purpose of writing the article? If it is merely to sow FUD over Bitcoin, that effort of yours will only go to waste. You better use them to write something else more productive, logical, and worth reading.

CBDCs won't kill Bitcoin because CBDC = fiat, albeit a more snoopy one.

[Coyster]

Central bank digital currencies are centralized, so it's not 'competing' with Bitcoin which is a dex crypto, and can't make it's value depreciate by any means, the only competition CBDC's have is with other countries planning to also launch theirs, like China v The U.S. in their struggle for which country is making more progress economically and in other whatnots.

Btc crossed 15k today, sorry it's prolly not the time FUD can actually work on noobs, it's more of that period when quite a lot of people will start getting curious (FOMO) and joining the network as opposed to selling their btc.

[Poker Player]

Couldn't you have read the forum a bit before asking?

If you plan to write an article it's the least you could do.

If you read you'll see why you shouldn't sell bitcoin.

[Wexnident]

A lot and I really mean it to be a lot would react negatively if you were to ever write an article being worth nothing due to State Digital currencies. CBDC is merely fiat, but in it's digitalized form. That's it. The same issues still plague it, ones that were so bad that made people move over to Bitcoin. Not to mention that they aren't really even competing with each other, both can be used freely, and I really doubt banks/governments could block off Cryptos completely, cause if they could, they would've probably done so sooner, but instead we got more countries that simply accept bitcoin instead.

I'd suggest writing an article completely opposite of what you're thinking of. Though it'd probably be a lot better to do more research since most of it would probably be speculation, but really, just look at the differences between the two and you'd clearly see that they don't need to compete with each other, nor would the existence of the other make the other one useless.

[pooya87]

I have been reading about State-Issued Digital Currencies and it seems that current bitcoin wont worth anything.

let me know what you think about it i am planning to write an article about it

about what? your random statement without any explanation of why you are making it!
you also seem to not be aware that we have already using "state issued digital currencies" for decades. long before bitcoin was even created. whether they change their "database" from SQL to Blockchain is not going to change anything, least of which bitcoin and its future.
what i think is that you should first educate yourself before trying to write "articles".

[Lorence.xD]

Like all the others have already said, CBDC will not kill bitcoin. It is just a way to make the inflation go at a normal pace, CBDC is a solution to inflation because of money printing and the expense of money printing, it is not advertised to kill crypto or bitcoin for that matter. It might be an experiment on the side but it will not kill bitcoin in my opinion. There must be articles circulating about CBDC's to provide more information.

[adzino]

Hi Guys

I have been reading about State-Issued Digital Currencies and it seems that current bitcoin wont worth anything.

let me know what you think about it i am planning to write an article about it

N

Why do you think bitcoin won't be worth anything when "state issued" crypto/digital currencies are made? The state issued currency has nothing to do with bitcoin. In fact, more people will get to know about bitcoin and their advantages over those centralized government issued crypto currencies which will in turn drive a huge demand for bitcoin.
Even though if people won't be able to use it as a regular currency, they will still be able to use it as a store of value. Bitcoin has proven over the years that it is an excellent store of value!

[20kevin20]

What I find funny is that a lot of people think CBDCs will actually grow in price like Bitcoin does. They won't - they'll be stable, just like Tether and all those other stablecoins. CBDCs will not be rare and will never have halvings.

Decentralized governance will always find its way. It just can't go away unless everyone likes control, and trust me: a lot of people don't and never will. Just think about it: today authorities barely care about printing trillions of USD (although it's mostly virtual USD, not physically printed money). Just imagine how much money they'd be able to steal and create when these systems are ready, lol. New money is going to be a codeline/button away.

[wxa7115]

Hi Guys

I have been reading about State-Issued Digital Currencies and it seems that current bitcoin wont worth anything.

let me know what you think about it i am planning to write an article about it

N

I am not trying to be rude or anything but what it is the point of writing an article of something you know nothing? You will just misinform the public with your article, if anyone takes the time to read it, also it seems you want us to make your work for you and unless you want to share the benefits with us then why do not you make the research by yourself?

Still I will help you, centralized cryptocurrencies backed by governments are coming, we all knew that, the moment governments eventually realized they could not kill this market they will apply the old strategy of ‘if you cannot beat them, join them’ but it will not make a difference, why? Because those currencies will have all the flaws fiat has and that bitcoin does not, as such the niche that bitcoin is filling now will still be uncontested and it will keep growing because of it.

[shinratensei_]

CBDC is not a threat for bitcoin and otherwise, it can bring more money to come into the cryptocurrency. Dude, your title sounds like FUD to the bitcoin. This time people need to hodl rather than sell their bitcoin for a non sense reason.
CBDC will be created to follow the massive development that happened in the digital payment system especially crypto with its blockchain.
People were massively moving to use crypto.
You should write what you have known so well.

[odolvlobo]

you also seem to not be aware that we have already using "state issued digital currencies" for decades. long before bitcoin was even created.

There are many people that don't realize that fact.

The main difference between a CBDC ("central bank digital currency") and the current system is that a transaction goes through the central bank directly rather than being routed though the banking system.

Like all the others have already said, CBDC will not kill bitcoin. It is just a way to make the inflation go at a normal pace, CBDC is a solution to inflation because of money printing and the expense of money printing ...

CBDC will not change inflation. It will not affect how a central bank prints money. A central bank could still print an unlimited amount of CBDC.

[gentlemand]

I can't fucking believe people still roll this line out.

A statecoin has every single problem the existing currencies have and many more new ones too. They will have vastly more control over everyone's money and will be able to enact any policy without resistance.

An all statecoin world will make Bitcoin more compelling than ever. If people can't figure that out then they should give up their BTC so someone with a modicum of cognitive ability can benefit from it instead.

[Rengga Jati]

You can write anything you want, but if it is controversial, you will get what you make. 
And personally, I will not read your article about it because this kind of issue ever happen during this time, moreover to make people afraid about this fud and make the negative issues on BTC. The goal? ONly to make the price of BTC down to earth again and make many more people do not believe in BTC.

But this was old. Many people know more things than previously, we know the truth. BTC has been here for more than 10 years, and now BTC price is in bullish time. So, why should you make that kind of article? 
You can make it but I believe most people will not be interested and will not believe in it. They believe more in the worth of BTC

[romero121]

Whatever might the fact, you write the article. Go through it and understand what does these state backed digital currencies do. Simply you can write about the traditional currency, because these state issued digital currencies were just a digital cash backed with stablecoins. This shouldn't be compared against bitcoin. One who sell bitcoin for these state issued digital currencies will be the uneducated politicians.

[hatshepsut93]

I can't fucking believe people still roll this line out.

A statecoin has every single problem the existing currencies have and many more new ones too. They will have vastly more control over everyone's money and will be able to enact any policy without resistance.

An all statecoin world will make Bitcoin more compelling than ever. If people can't figure that out then they should give up their BTC so someone with a modicum of cognitive ability can benefit from it instead.

People have a really primitive understanding of crypto, they think that if CBDC is a "crypto coin", and Bitcoin is a "crypto coin" too, than they are direct competitors and one must defeat the other. The flaw here is not realizing that Bitcoin is too different from these hypothethical CBDCs and even existing altcoins, because unlike them, it's actually decentralized and secure. In reality the competition will be minimal, no sane Bitcoiner would drop Bitcoin for any other coin.

[pooya87]

you also seem to not be aware that we have already using "state issued digital currencies" for decades. long before bitcoin was even created.

There are many people that don't realize that fact.

The main difference between a CBDC ("central bank digital currency") and the current system is that a transaction goes through the central bank directly rather than being routed though the banking system.

not necessarily. similar to the current banking system, each bank could have its own tokens that run on their own database (aka blockchain) when someone creates an account with that bank, all their transactions go through that bank only then everything between banks could be like atomic swaps where they swap tokens between chains. while central bank only monitors them to not surpass the cap they are allowed to have.

[tbterryboy]

Instead of you rushing to go write an article on the said topic and ending up misinforming some people who don’t know much, I would say that it is best that you edit this your post here and put a summary to explain what kind of thing you heard about state backed digital currencies and what makes you think that Bitcoin isn’t worth it, so that the people here can have a look at it and teach you better, or if you’re right, then we will all agree that you’re right.

I don’t know what about state backed digital currency that’s making you lose hope in bitcoin. These two are different.

[Jating]

Hi Guys

I have been reading about State-Issued Digital Currencies and it seems that current bitcoin wont worth anything.

let me know what you think about it i am planning to write an article about it

N

Lol, CBCD or any state sponsored crypto will not hurt the bitcoin market. You should understand what's the purposed of CBCD first because getting ahead of yourself like what the title of your thread thread, "What do you need to sell all your bitcoin".

You can sell your bitcoin of course, not just because of CBCD, but because you wanted to get your profits. CBCD since it is under the government's central bank, will be centralised and controlled. And this is why we don't like about them, and that's why bitcoin will be the 'answer' for this.

[mixerbtc]

CBDCs are only created so that states and central banks get a piece of the cryptocurrency pie. They're quite terrified of this financial paradigm, so CBDCs are a way to slow down decentralized cryptocurrencies. HODL and continue using your coins!