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Author Topic: Difference btw CBDC & BTC (Simple and short explanation)  (Read 248 times)
The Cryptovator
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June 24, 2022, 07:15:11 PM
 #21

CBDC something like MFS (Mobile Financial Service). It will backed by fiat and control by central bank. Its just a digital version of fiat, nothing else. Its not competitor of Bitcoin nor can compare anyway. CBDC would work as a payment method countrywide. CBDC won't harmful for Bitcoin anyway. Because it will make easier to trade Bitcoin and make Liquidity.

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davis196
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June 26, 2022, 10:50:56 AM
 #22

I still can't figure out what makes CBDCs better than good old paper cash. We already know that CBDCs aren't better than Bitcoin, so starting again this discussion is pointless. Moving from paper money to CBDCs seems like a step in the wrong direction.
Why would anyone use a payment system that is actually worse than the paper money(and credit/debit cards) we use everyday?
There's no clear incentive for the people to use CBDCs. The central banks and the governments might force them to use CBDCs, but the administrative and financial oppression will backfire for sure. Nobody likes to be forced to do something against his/her free will.
We know that the central banks want financial dictatorship and zero privacy, but CBDCs seem like the dumbest idea ever. If the central banks really want to impose such financial dictatorship they will have to create a system, that is way more convenient and secure(which isn't going to happen).

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June 26, 2022, 03:29:54 PM
 #23

This is a good infographic to teach people the difference, but the reality is that we shouldn't really compare the two in the sense that "which one should I invest", because that is not how people will approach it. The reality is that the best thing we could do right now is to accept that there will be people who have both of them at the same time, and there will be people who will hold only one of them.

This is why people trying to say "cbdc is not good, buy btc instead!" will be disappointed about it. There will be plenty of people who will have cbdc and not buy anything else, and there are plenty that won't even take look at cbdc, and we just need to accept both.

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June 26, 2022, 03:55:31 PM
 #24

There isn't much difference between a CBDC and a fiat currency, they are merely a digital version of each other. The CBDC will give the government full control over them against fiat. Even the slightest fluctuations in our account will be passed to the government. Personally, I still prefer to use fiat over CBDC, our privacy will be nothing if we use CBDC. A digital currency, bitcoin is more than enough.

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June 26, 2022, 03:56:12 PM
 #25

I still can't figure out what makes CBDCs better than good old paper cash.

For you and me? No better. There may be that you may be able to have some sort of wallet with no yearly fee to the bank, but that's all.
For merchants? Hmm.. it may become interesting to not pay a lot of money to VISA and Mastercard and just support CBDCs.
For governments? Full control over people's finances, zero privacy and all the rest.

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June 26, 2022, 08:41:44 PM
 #26


CBDC will likely compete the Bitcoin wallets like the Bitpay, Revolut or the Strike which they will force these wallets to incorporate CBDC coin and from there we may only be using the CBDC coin to  cashout our BTC. With this they can prevent the adoption of BTC and at the same time can slowly help the transition to ruining the current financial system until we all completely use the CBDC.

There are two kinds of CBDC that will be issued according to some articles I've read, one is for retail CBDC for regular users and the other is the wholesale CBDC which understandably for institutions to transact with a central bank. Retail CBDC is where they set all kinds of limits for regular users.

Every country will have its own CBDC, I guess we will find out soon which one have created the best CBDC that gives freedom to its people.  Who knows some countries may really have thought of ways to making it fair and with privacy in mind.

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