Fiat, CBDCs, all of these are enemies, your only friend is Crypto!

[Synchronice]

Recently CBDCs is becoming a popular subject of discussion. Long story short, they are designed to be similar to cryptocurrencies but still with a lot of differences. They are totally centralized ad misleading to people.
As it's claimed, CBDCs are designed for safety and stability unlike bitcoin and other cryptocurrencies that are volatile and speculative.
But you know what?

Look at this! You work hard, work hard for years, save some money, and finally what? Their Safe and Stable currency fucks you You still have to work because this shit currency lost its value and it's not enough for your future and your dreams. Wanna buy a house? Then inflation + bank interest rate fucks you twice as hard. And then you know what? If you live in a country that has its national currency and people trade according to nat currency/USD rate, then if lucky, you are 4x fucked, if unlucky - higher than that.


Now, look at this! Is this the first image with a mirror effect? No, this is Bitcoin!


Media and the government tell you that it's a scam, a pyramid, terrorists and drug dealers favourite money, but no! This is a great escape. Just look at these two charts that clearly show the history of both currencies, the first one declines and the second one rises and after all of this, the government tells you that it's not safe and is dangerous!

We should learn from our mistakes!

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[Bitstar_coin]

Good for those of us who are already part of this revolution because that's what it is, a revolution even though the government are trying so hard to denial and prohibit it.
Majority of the crypto enthusiast already know where the cbdc stand and what it represent, an upgraded version of fiat can't be expected to do anything different from fiat, it is the same manner of control with unlimited supply (if am not mistaken).
BTC may be volatile but is far more better to hold than fiat with high rate of inflation.

[TravelMug]

I wouldn't call CBCD enemies though, perhaps government just wanted to offer alternatives that all.

But definitely, for us who are in crypto, then there's no way that we are going to shift to CBCD. Maybe in needed basis though, for example if your government requires you to transaction thru their agencies with CBCD as a payment method. I think this is the only way that I see CBCD might be of good use.

[palle11]

CBDC or whatever digital form of money is not an enemy to cryptocurrency or it is not the way that they are made by government. The need arose for a digital currency of course many aspect of life is gone to online since covid-19 so for better and easy way that marketing can go on via online and its affiliates because there different businesses that have gone online.

[so98nn]

Good for those of us who are already part of this revolution because that's what it is, a revolution even though the government are trying so hard to denial and prohibit it.
Majority of the crypto enthusiast already know where the cbdc stand and what it represent, an upgraded version of fiat can't be expected to do anything different from fiat, it is the same manner of control with unlimited supply (if am not mistaken).
BTC may be volatile but is far more better to hold than fiat with high rate of inflation.

Correct. And you are not mistaken. The supply is unlimited and that is why it runs into inflation when they keep print more and more money. We already have above example and even saw last year how US kept printing the money when they ran out of it for health emergencies, stimulus packages etc. However, what they forgot is, they are loosing the liquidity at enormous rates and at the end inflation and peeps going crazy.

This is why one intelligent man pulled us out of this mess, Mr. Satoshi.  No wonder now peeps will understand the meaning of decentralisation and also bitcoin ultimately. That graph surely keep surging no matter what.

[Poker Player]

Recently CBDCs is becoming a popular subject of discussion. Long story short, they are designed to be similar to cryptocurrencies but still with a lot of differences. They are totally centralized ad misleading to people.
As it's claimed, CBDCs are designed for safety and stability unlike bitcoin and other cryptocurrencies that are volatile and speculative.
But you know what?

Look at this! You work hard, work hard for years, save some money, and finally what? Their Safe and Stable currency fucks you You still have to work because this shit currency lost its value and it's not enough for your future and your dreams.

In my opinion you and all those who have commented before me have left out the most important point: the absolute loss of privacy.

CBDCs emerge not only as an alternative to Bitcoin and crypto, but as an improved version of cash (supposedly). The problem is that with CBDCs governments and central banks are going to know exactly what you spend where your money, and the exact time to spend it.

Cash, as bad as it is in terms of its devaluation, gives you privacy. With some exceptions, like when you buy expensive things that have to be reported, like a second hand car for example. But if you go to the supermarket, the store, the pharmacy etc, and you pay in cash there is no record linking you to that purchase, whereas with CBDCs they are going to know everything.

[avikz]

Money can't be enemies. It's the government who can bring down  your finances are enemies. Fiat is a medium of exchange, same goes with CBDC as well. It's the data infrastructure that will be leveraged by the government agencies to run behind you, is going to be your enemies.

With CBDC, the human population will loose its right to keep their finances private. Everything will be visible to government. Today only, I have written a post about it. Read it once,

https://bitcointalk.org/index.php?topic=5394515.msg59856353#msg59856353

[Leviathan.007]

Regarding fiat and CBDCs we can consider some factors upon comparing them with cryptocurrencies and bitcoin, the first and I think the most important thing is the centralization of the these even if the countries start creating their own CBDCs for their central banks and even in the best situation still these are depended to their governments while most of the cryptocurrencies are made to be decentralized, in the other hand since these are under control by the governments so cannot be safe from the inflation rate, unlike cryptocurrencies and bitcoin.

[fiulpro]

Some people don't have that option since the government cuts off all their supplies and forces them to use CBDC's - this would be a future statement definitely because we are seeing a trend where the government is trying to do the exact same thing.
People would go wherever they get the profits from which means that it can be CBDC's or just stable coins. But considering bitcoins and Altcoins they definately are the ones which would be able to provide you with economic stability and freedom as well since considering the situation right now it looks like the whole world is going to collapse and we are getting far too closer to WW2.
There is a long line of Government taking the privacy out of the cryptocurrencies as well since they are always trying to add the documents and connect it all with your bank accounts.

[DanWalker]

CBDC is an upgrade of fiat in terms of technology, it does not have any breakthrough like current crypto. CBDC is still a centralized currency controlled by the government and more importantly the government is still the one who decides how much CBDC supply they can generate as much as they want. Even using it will make us completely lose our privacy because they can control us anytime and anywhere.

[Sterbens]

Enemy in what way? Have you ever forgotten something before and jumped into Bitcoin and cryptocurrencies?

I'm not going to be a hypocrite and deny the benefits of fiat, albeit with some downsides. But the truth is we are still living with it. And no one should be emphasized as an enemy or anything. We just need to use it smartly as long as it doesn't harm our own finances. We live under the state constitution. Even El Salvador has never considered the fiat component or CBDC as an enemy. And you are so sure? just need to know how much bread where you live when you want to buy it? what's up with fiat?

Don't complicate things you can simplify.

[doomloop]

CBDC is an upgrade of fiat in terms of technology, it does not have any breakthrough like current crypto. CBDC is still a centralized currency controlled by the government and more importantly the government is still the one who decides how much CBDC supply they can generate as much as they want. Even using it will make us completely lose our privacy because they can control us anytime and anywhere.

It’s still the same Fiat and I am not expecting any breakthrough from it because even if we still adopt it, it is not going to change anything at all and will still continue to lose value.

Anyone who chooses to make use of central banks digital currencies (CBDC) is just wasting their time because they are not going to be gaining anything from it apart from the same headaches they are having with the use of the old Fiat, because you’re still using the same thing. And privacy is another thing you’re giving up on when you’re making use of CBDC, you wouldn’t be free to do what you want to do because you wouldn’t have the freedom to do so.

[Wexnident]

I wouldn't consider fiat to be bad, but well the way the government manages inflation inevitably makes it look bad to us anw.

But still fiat has it's own advantages (but disadvantages may overwhelm those depending on gow you look at things), so I reckon CBDCs are the same. Being centralized has its own advantages (mostly qol stuff imo), but still, inflation would still fuck us up, but hey, if you know how to manage your finance I think you can minimize the damage it could cause.

[barbara44]

I am definitely agreeing with this for sure. I have been in crypto only because I hate fiat, everyone keeps talking about how crypto could become better and how if we could just adjust crypto the more like fiat, and so forth, regulations, legal tender, laws, many other things but for me none of that matters.

I was in love with bitcoin the moment I saw it, a truly decentralized digital money that can't be controlled by the government, the "price" could be controlled, but the coin itself can't be touched. That's all I care about and that's all I want to know. There is no CBDC, no fiat, no other thing that would make me want to use over crypto.

[Furious 7]

So with that said money is the enemy? this is certainly naive in my opinion why they are called enemies when we still need them.
The presence of CBDC is actually only used as an option for those who are still using fiat in a more modern way. there is no problem with it because regardless of accepting or rejecting it comes back to oneself and belief.
Crypto is a good thing now but that doesn't mean with crtypo we have to consider other things as enemies

[wiss19]

Anyone who really knows what they are doing wouldn’t think that Fiat is better than Bitcoin.
Bitcoin is far much better than storing your money in Fiat because you’re just going to be the one who is losing.

And it is not just only about Fiat losing its value that irks me, there is also the issue of banks having to charge you a lot of fees, either it is daily, weekly or monthly. Seriously that shit is quite annoying, but with bitcoin you don’t have all those too much stress. And most of the fees that you would be charged by banks are just some totally unnecessary fees that are questionable.

[Oluwa-btc]

Bitcoin and Crypto ain't the same thing, Hope you know this ?

[Quidat]

Anyone who really knows what they are doing wouldn’t think that Fiat is better than Bitcoin.
Bitcoin is far much better than storing your money in Fiat because you’re just going to be the one who is losing.

And it is not just only about Fiat losing its value that irks me, there is also the issue of banks having to charge you a lot of fees, either it is daily, weekly or monthly. Seriously that shit is quite annoying, but with bitcoin you don’t have all those too much stress. And most of the fees that you would be charged by banks are just some totally unnecessary fees that are questionable.

On some aspect then it cant really be denied on what are the main benefits when we do deal up with Bitcoin which it wont really be that surprising that it did really get that much attention and support
in the community due for that reason but we cant really still avoid the fact or reality that we are still that dependent on fiat.We are aiming to accumulate bitcoin to have more fiat whenever it do
increase its value.Pretty much sure you would still come back to fiat form considering that bitcoin isnt adopted or accepted on any parts of the world.

[Vaskiy]

There is nothing to blame the fiat and the CBDC's that are being developed to keep the finance under the government's control. Everything have evolved in a slow and steady manner according to the need of the people. As a result we had coins to currencies and from there we had everything digitised as internet banking, further we had card transactions. The lastest being the usage of applications and wallets to make transactions. However people who doesn't make use of bitcoin were also comfortable with it. So, it is upto the users and we should also know without fiat now we could've never got cryptocurrencies. So, everything is part of evolution.

[hatshepsut93]

"Fiat bad, Bitcoin good" is such a simplistic view, it ignores all the nuisance and practicality of Bitcoin use. Inflation is not a secret to anyone, but crypto can't magically fix it. Imagine you are a worker, you get your monthly salary and convert it into BTC - and it solves nothing in short term. Bitcoin is not growing 1:1 in response to inflation. The price of goods grows, your salary does not and Bitcoin moves randomly in short term. Bitcoin offers nothing to people who live on a tight budget, because they can't afford to make any savings and benefit from the long-term growth. And people who can save money can put it into a wide variety of assets, so it's not like Bitcoin is a game changer. Gold has recently acted as a much better counter-inflation and counter-risk asset.

The bottom line is, Bitcoin is still a high risk high reward investment and not a reliable financial tool for harsh times.