Thoughts on CBDC's and long-term effect on the cryptomarket

[KaliLinux]

Hi guys,

As a lot of you may now, the Central banks are heavy into the development of the CBDC's. I truly believe that these coins are a tool of the global elite to control us. You can take a dive into what these coins really are meant for and its pretty scary. Its basically the opposite of what crypto currencies today are meant for; centralization and complete control.

A lot of people see this as bullish for the Crypto currency market for obvious reasons, nevertheless I still believe the adoption of these CBDC's will be forced onto us. Just like the restrictions of the so called pandemic were forced onto us. This makes we wonder how these two polar opposites will co-exist, and what long-term effects it will have on the market.

I would like to know your thoughts on this.

If you have really looked at what the CBDC is then you would see that it is just a digital replica of the fiat money of any country that is operating it now and nothing more. If the fiat value was useless so will be the value of their CBDC and it doesn't have anything remotely close to crypto other than the claim it is also digital and I don't think it will change anything even if the government would force it on her citizens.

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[Wexnident]

I'd say it's more of an improvement if you were to consider originally how fiat is and how governments are making it work right now. It also opens up improvements on money transfers in different situations which makes it a lot easier for the regular person, kind of how the advantage of centralization is supposed to originally be. If you look at it from another perspective, CBDC is simply fiat but made more secure (for the government that is) and transparent (hopefully). I honestly don't think much is gonna change for us, whether it be as users of fiat or users of crypto.

I don't think it's going to ruin or damage the crypto scene, maybe an initial FUD of sorts after it officially releases as a form of currency, but other than that, they live their lives there and we live our lives here.

[Wind_FURY]

As economic circumstances deteriorate, there are still many who are expecting governments and central banks of the world to save them. They may place all of their wealth and life savings into CBDC and other state mandated programs as their best option for avoiding inflation.

Others who have lost faith in governments and central banks may store their wealth in gold and precious metals. They are more likely to seek alternatives to fiat and CBDC, which they no longer trust to retain their value in the event of hyperinflation.

Depending on the performance and rollout of CBDC, public opinion could shift. The way people think about and view the world could change. To an extent we already see this happening with shifts in approval ratings and voter registrations. The question is, will it matter over the long term.

It was easy for many to believe bitcoin was evil when prices were low and inflation wasn't a concern. Now that conditions are changing however and people are being forced to question their own perspectives everytime they fuel up at the gas pump. Many are being forced to look outside their comfort zone. And it is possible things might change.

Its been said that it took people 10 years to accept vitamin C being a legitimate treatment for scurvy in centuries past. Today, public opinion can shift and change much more quickly within a span of weeks or months. Rather than decades.

Public opinion would DEFINITELY shift! This is what I believe what the U.S. government could do, with the help of the Fed, they will crash the economy. They will take away your savings, your retirement, and your jobs. This is the perfect time to introduce CBDC through Universal Basic Income. This pumps the economy, AND make the public opinion on CBDC more "positive".

[zasad@]

Getting people to use the CBDC is not difficult if they distribute benefits and pensions using this method. Then another question arises, why do we need dozens or hundreds of other banks, if we can make them branches of the central bank.

[Silberman]

Hi guys,

As a lot of you may now, the Central banks are heavy into the development of the CBDC's. I truly believe that these coins are a tool of the global elite to control us. You can take a dive into what these coins really are meant for and its pretty scary. Its basically the opposite of what crypto currencies today are meant for; centralization and complete control.

A lot of people see this as bullish for the Crypto currency market for obvious reasons, nevertheless I still believe the adoption of these CBDC's will be forced onto us. Just like the restrictions of the so called pandemic were forced onto us. This makes we wonder how these two polar opposites will co-exist, and what long-term effects it will have on the market.

I would like to know your thoughts on this.

Without a doubt they entail a huge risk to the population, but as long as bitcoin can still be used we could easily avoid most of their effects by just keeping enough CBDCs in order to function in a society dominated by them and then we keep the rest of our wealth in bitcoin, so they are bad and terrible news for people in general, but many of us are avoiding holding a lot of fiat even now, so things wont change much for us just because governments introduce those coins and find a better way to try to control us.

[jostorres]

I truly believe that these coins are a tool of the global elite to control us.

I think this was not new anymore because before they came out, we already have so many centralized currencies and payment methods. They are controlling people since then but good thing that satoshi came to the rescue and started out the first crypto which was bitcoin. The growth of bitcoin and crypto proves that many people don't want to be controlled anymore. Finally they are free after so many years of being a slave.

A lot of people see this as bullish for the Crypto currency market for obvious reasons, nevertheless I still believe the adoption of these CBDC's will be forced onto us. Just like the restrictions of the so called pandemic were forced onto us. This makes we wonder how these two polar opposites will co-exist, and what long-term effects it will have on the market.
I would like to know your thoughts on this.

How come they think it's bullish? It's supposed to be bearish because those currencies can be a crypto killer since they are offering the opposite thing as what cryptos are trying to offer but not all are forced to use this. This isn't the same as covid, don't compare them please. Cbdc's arent new in the market but it seems they don't have a big threat to cryptos. Don't worry.