Just my own thoughts

[kryptqnick]

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

CBDCs compete against fiat, in my opinion, because they are both centralized and both aim to be used as a main means of payment in a particular country. While CBDC competing against fiat is not a real thing for now, it does make sense that they might do so in the future, in a certain sense. As for decentralized currencies, they, IMO, aren't threatened by fiat currencies or CDBCs because they indeed have their own niche. But, as some pointed out, there's room for competition because decentralized money (if we view cryptos as money) is an alternative to centralized money. Right now it's also not really a competition because the possibilities of using Bitcoin as payment are very limited, and many view Bitcoin as more of an investment than a form of payment.

[uchegod-21]

We have three things in your post. They are btc, fiat and CBDCs. Btc is decentralized and runs on blockchain, CBDC is centralized and runs on blockchain and the fiat is decentralized and does not run on blockchain.
If you want to make comparison is should be on centralize and decentralized.
If it is like that, bitcoin is different from the rest two.
But if you talk about competition, CBDC should be in competition with fiat because they have the same parents which is government. Bitcoin is different and bitcoin is liberty.

[Alisha-k]

Bitcoin and Fiat may have similarities and that is it in ability to store value, be a means of exchange etc, as for it's decentralized nature, it's majorly the feature of Bitcoin and so the should be no room for competition cause Fiat on the other round is being controlled and as such is centralized, they're both and wolll remain alternative for each other and not competitors.

[xSkylarx]

Bitcoin and Fiat may have similarities and that is it in ability to store value, be a means of exchange etc, as for it's decentralized nature, it's majorly the feature of Bitcoin and so the should be no room for competition cause Fiat on the other round is being controlled and as such is centralized, they're both and wolll remain alternative for each other and not competitors.

Yeah, I agree with you, we are also using fiat when converting our bitcoin into our money because not all merchants are currently accepting bitcoin as a payment method, so for the time being, they are not rivals, but rather good friends because they have used each other's services. The future holds a high probability that our payment methods will change, such as becoming digitalized, such as bitcoin, or, similar to bitcoin, in which people will not use any physical money to spend and will instead only use their mobile devices to make purchases and payments.

[davis196]

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

Bitcoin is fully decentralized only if you are using it with your own cold wallet.
Bitcoin is as centralized as fiat,if you are relying on a cryptocurrency exchange or online BTC wallet to store your Bitcoins.
Bitcoin and fiat aren't competing,because you could buy fiat with BTC and BTC with fiat.The Bitcoin price is measured in fiat money.If BTC and fiat were competing,all the central banks in the world would ban BTC/fiat trading and they would try to destroy Bitcoin,because BTC is a competitor to their precious fiat.
The idea of Bitcoin "competing" against fiat is popular mostly among the fanatic diehard Bitcoin fans,who think that Bitcoin can become the true global currency of the future.

[Yamifoud]

We have three things in your post. They are btc, fiat and CBDCs. Btc is decentralized and runs on blockchain, CBDC is centralized and runs on blockchain and the fiat is decentralized and does not run on blockchain.
If you want to make comparison is should be on centralize and decentralized.
If it is like that, bitcoin is different from the rest two.
But if you talk about competition, CBDC should be in competition with fiat because they have the same parents which is government. Bitcoin is different and bitcoin is liberty.

There is no such comparison between the decentralized one to centralized form of the market as they are totally a different alternative to fiat money(local currency). And why Bitcoin couldn't overthrow fiat (local currency) for the reason that people just consider this an investment like bonds and any businesses. To earn some profit from investing in Bitcoin make people encourage, not the way we could use to pay bills, buy stuff, or anything as we do like with fiat.

[Wawa2013]

We have three things in your post. They are btc, fiat and CBDCs. Btc is decentralized and runs on blockchain, CBDC is centralized and runs on blockchain and the fiat is decentralized and does not run on blockchain.
If you want to make comparison is should be on centralize and decentralized.
If it is like that, bitcoin is different from the rest two.
But if you talk about competition, CBDC should be in competition with fiat because they have the same parents which is government. Bitcoin is different and bitcoin is liberty.

There is no such comparison between the decentralized one to centralized form of the market as they are totally a different alternative to fiat money(local currency). And why Bitcoin couldn't overthrow fiat (local currency) for the reason that people just consider this an investment like bonds and any businesses. To earn some profit from investing in Bitcoin make people encourage, not the way we could use to pay bills, buy stuff, or anything as we do like with fiat.

Therefore, the government does not need to be afraid that actually legalizing Bitcoin for payments will threaten the existence of fiat. Because as
you explained, most people are more comfortable using fiat to pay bills and buy daily necessities. Moreover, with the price of Bitcoin which is
very volatile, it would be better if it is used for investment, maybe if we want to send money abroad using Bitcoin is a good choice too.
In conclusion, Bitcoin and fiat were created not to compete, but to complement each other. So Bitcoin and fiat if used by humans will make
financial transactions much more effective, because both Bitcoin and fiat have their own advantages and disadvantages. Humans desperately need
both to live a much better life.

[sarmrakib]

as we know there has never been a bitcoin space to replace the existence of Fiat, but they can complement each other side by side, where bitcoin as an investment, Fiat as a means of living (in my opinion this is also)

It could be a real thought that there are no space to replace btc by fiat .This is so interesting when this two has a value and its create a competition .Its the truth that btc always has a huge value and the value will increase for sure on the other hand your fiat value will be decreased gradually .So we can easily say that btc not only using as a currency but also it is an asset .Which can really change your future and also living .If the world turn into block chain the using fiat will be decreased .So it could be a great thing on the future .

[TheGreatPython]

Bitcoin and Fiat may have similarities and that is it in ability to store value, be a means of exchange etc, as for it's decentralized nature, it's majorly the feature of Bitcoin and so the should be no room for competition cause Fiat on the other round is being controlled and as such is centralized, they're both and wolll remain alternative for each other and not competitors.

A good point, the both of them are different and should exist as alternatives. At least Bitcoin has relieved us the stress of having to go to the bank and standing in the long queue because of we want to make transactions. I can’t count how many times that Bitcoin has been of help to me. And also the Fiat is still useful to me as well.

It’s all about what you want to do; whenever I’m making a local transaction, I do rely very much on Fiat, but when it comes to sending money to someone who is not in the country with me, then Bitcoin is usually the best option for me to consider, because I don’t use PayPal or any other payment methods. so whenever they are useful to you, that's when you should make use of them.

[Silberman]

Acceptance as being a currency was always the issue with Bitcoin, just a few merchants accepts it as payment options which is why it became more of an asset. CBDC on the other hand is like an online fiat. That's it. What's the difference? Now, people don't need to go the bank and deposit to buy Bitcoin, they can do it directly using CBDC. I guess they just sliced that little effort of human to take a walk to the bank. 

The problem with CBDC is that just as bitcoin and its technology can be used to give freedom to the people if it is decentralized it can also be used to slave them if it is centralized, governments are trying to twist things up and gain even more control over the economy and their population with CBDC and we cannot let them to succeed, we need that bitcoin survives and becomes a real alternative which we can use to buy what we need, because if that is not the case then authoritative governments in the future could deny you of the most basic necessities if you happen to have different ideals from the government in turn.

[TheNineClub]

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

You are completely right, it doesn't need to compete with FIAT. No crypto should compete with FIAT. It has to exist in its own universe, and coexist with FIAT as just another option out there. The only thing crypto is competing with itself and its growing base of users. And it has to tackle the issue of government regulations and adoptions. FIAT is the least of its worries.

[skarais]

There is no competition between fiat and bitcoin because these two currencies are different even though they have the same function as currencies. Bitcoin is decentralized while fiat is centralized, both are means of payment although the systems are different. People who are concerned about privacy have an alternative to using bitcoin as a means of payment, while those who are not then fiat will remain the choice.

So far, even though I support bitcoin as a means of payment, I still firmly believe that bitcoin is just an alternative that I can use without legality from the government. Not to be a major currency, bitcoin is not a fiat competitor in my opinion and CBDC is one of the expected fiat competitors.

[sheenshane]

That's why we shouldn't compete for these two different currencies because they have a different world.  Through our confusions, that's why comparing them or competing is our primary objective because of our government's regulations.  The truly decentralized nature doesn't really have a chance that can be regulated and that's why Bitcoin now has been existed.

Fiat and Bitcoin have opposite features and totally has different nature, they have pros and cons so competing isn't necessary.  We understand the government and we know that they combat those possible causes of fraud and unregulated assets because they all care about how to apply tax in your asset.

[Baofeng]

That's why we shouldn't compete for these two different currencies because they have a different world.  Through our confusions, that's why comparing them or competing is our primary objective because of our government's regulations.  The truly decentralized nature doesn't really have a chance that can be regulated and that's why Bitcoin now has been existed.

Fiat and Bitcoin have opposite features and totally has different nature, they have pros and cons so competing isn't necessary.  We understand the government and we know that they combat those possible causes of fraud and unregulated assets because they all care about how to apply tax in your asset.

True, that's why I don't get the idea of hearing people comparing and competing them because its totally different world. Crypto is young and decentralized and I would say it is a revolutionized concept as well by Satoshi although not original. But still it just burst out of the scene and then becoming big in the last 10 years that people can't help it but to compare the two, but there is no point.

[taufik123]

Bitcoin and Fiat have different paths, each with their own advantages. So it can't be debated which one is the best. Bitcoin is decentralized so that it will be more free without any regulation even though the government, but has a large fluctuating risk. while Fiat is centralized or regulated by the government and is stable. Bitcoin becomes optional when you don't want to use Fiat. Some of the major adoptions in bitcoin made bitcoin a legal tender but Fiat remains.
Bitcoin and Fiat will continue to coexist.

[CaptainCrapper]

Bitcoin is decentralized, fiat are centralized, no room for competition than being alternatives. Bitcoin was created for privacy and decentralized purpose but most people using bitcoin nowadays are using it for its appreciative and speculative value, what fiat can not provide than to continually be devaluated. Not only that CBDCs are centralized, they are fiat, not a substitute but an alternative just as fiat.

Yes I have the same opinion but bitcoin will major part of the whole world within a short time we are all waiting for this season and this time bitcoin lead the modern world.

[Sebas.tian]

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

Yes, bitcoin is a decentralized currency which is not control by any country of the world. Many people has achieved a lot of reward from decentralized currency that is attracting other people to have more knowledge about bitcoin in the societies. Now that the citizens  has engaged themselves into bitcoin investment because of the income they are receiving from their investment compare to their fiat investment that is not helping them to make a good income from their investments. Nobody can stop the movement of bitcoin because bitcoin is not control by the government.

[wxa7115]

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

Governments are realizing they cannot kill bitcoin with their traditional methods so they are using another tactic, if you cannot beat your enemy then join them, so they are releasing their own centralized coins of which they have complete control.

Then they are going to argue their coins are better because they have the ability to get back  the funds that are stolen by hackers and scammers and this will attract people to those coins, but for people like us that know the truth we will not be interested in their coins, so this changes nothing at all.

[Gozie51]

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Then they are going to argue their coins are better because they have the ability to get back  the funds that are stolen by hackers and scammers and this will attract people to those conis, but for people like us that know the truth we will not be interested in their coins, so this changes nothing at all.

No government won't have to argue that their coin or fiat is better because the two are both different and on different functions or purpose. You can't compare both. Bitcoin being an asset can be used as exchange too , you can hodl bitcoin for longer time with hope to get multiple in your hodling investment. Bitcoin is about decentralised system that can't be monitored or stopped, the freedom of which you the user should protect himself, you are having and taking charge of yourself by keeping your security code safe, that is freedom.

[Ultegra134]

Bitcoin is fully decentralized which is why I think it doesn't have to compete with Fiat at all, those who needs the decentralized idea should just keep using BTC as it is, we all know that CBDC will run on the blockchain too but in centralised form so where thus this leave Bitcoin?

Governments are realizing they cannot kill bitcoin with their traditional methods so they are using another tactic, if you cannot beat your enemy then join them, so they are releasing their own centralized coins of which they have complete control.

Then they are going to argue their coins are better because they have the ability to get back  the funds that are stolen by hackers and scammers and this will attract people to those conis, but for people like us that know the truth we will not be interested in their coins, so this changes nothing at all.

Governments can't and shouldn't ban cryptocurrencies, even if they could, because it would cause more harm than good, (government sided). What they can do is tax such movements, which can be easily tracked, up to a degree, by monitoring transactions from and to exchanges. As a result, the government would profit through taxation, without banning them. Is that ideal? Certainly not, but efforts to implement such practices are almost guaranteed.

I was once told by an acquaintance, that the National Bank of Greece blocks any transactions towards the Binance exchange, haven't tested it myself though.