Will digital dollar be a threat to bitcoin?

[Queentoshi]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

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[Hispo]

It wont be completely a threat to Bitcoin because many people see Bitcoin as an asset/ invesment instead a payment medium that can contest against the traditional ones provided by centralized platforms, like Visa & Mastercard. I don't share that vision however.

The digital dollar will probably be very successful among the average people who dont know about Bitcoin or cryptocrurrencies in general, since this project of digital currency by USA would likely make easier for people to manage their finances, pay their bills, pay for their services and keep track of their credit score, but in exchange of centralization and possible surveillance for commercial and law enforcement purposes.

Bitcoin shall continue to have high liquidity from those who want to speculate with its value, as investement and tradeable asset, it is also worth noticing those businesses which accept Bitcoin, they do it because either share the idea of a decentralized medium of exchange (while they also accept Visa & Mastercard) or necessity (as consequence from being excluded by Visa & Mastercard). People who already accept Bitcoin could just add the CBDC option if they want and keep Bitcoin and the rest of their options intact.

[Smartvirus]

The major issues with CBDC has not been the digitalisation of it but rather the issues of centralization as opposed to decentralisation and the fact that, its always going to he ravaged by issues of inflation. Digital dollar would remain a boundary bonded currency and that's not what bitcoin is. The uniqueness of bitcoin would always be its stronghold and the reason it persists in our world.

Having the government hedge on the energy consumption has become an old news and it would be washed away with the strokes of the clock. The CBDC will never hold a substantial threat to bitcoin.

[fiulpro]

Is visa threat to bitcoins?
Is Mastercard a threat to bitcoins?
What's digital dollar? Is it any different from the dollar in your bank ! ? How different is it gonna be? Is it not going to be backed 1:1 ? It is going to definitely be the same thing honestly and thus at the end of the day what you should focus on is accepting the fact that it's not a crypto it's not an ath it's not even a new kind of virtual currency, it's just nothing but fiat and thus it does have constraints of the fiat as well and there is nothing to be worried about since they are going to be backed and strong, hopefully, maybe not like usdt but can be used in its place.

[franky1]

a CBDC is not a threat.
its underlying value is locked to its laws. such as minimum wage and its inflation rate.

EG if min wage is CBDC=1hour labour. and each year there is 5% inflation
then in 10 years that 10CBDC is equivalent to only 44 minutes of labour
this means if you can buy 4 loaves of bread today if bread was pegged at 16min labour.. you can only buy 3 loaves in a decade

bitcoins value is supported at the bottom by the lowest cost to acquire it on the planet. which due to its deflationary process increases noticeably every four years meaning after 10 year the lowest value of bitcoin will buy you more bread than the first year

a governments CBDC may feel slightly different to use than mastercard/paypal. but ultimately it ends up being the same moving government money, pay taxes and have value decline due to inflation. and yes they will still 'create' new money at a unmeasured rate of their whim

bitcoins features and utility are different to government money. used for different things and supports a different value system

think of fiat/CBDC as things to get rid of, spend as quick as you can when you get it or invest it.. and think of bitcoin as the place to put it when you want to save/invest your value and not lose it by just holding fiat/CBDC

[coupable]

It will never be easy to completely change the currency and convert it into a scripted virtual currency. Especially since the dollar is the currency of the whole world. It really is the world's currency.
The US government is seeking to change its paper currency to an electronic counterpart. This will not change the financial characteristics of the dollar because it will remain centrally controlled by certain parties.
In this topic, the news about the gradual withdrawal of the $100 bills from the global markets before their final withdrawal from the US market was discussed :
https://bitcointalk.org/index.php?topic=5411084.0

[The Cryptovator]

I don't believe this is a threat to Bitcoin. Nothing happened when China banned Bitcoin and launch its digital currency. Rather it would be easier to convert into fiat once the exchange adds digital dollar or fiat. Then we don't need to run for paper money. And the blame for energy consumption isn't new anything.

[348Judah]

Do you think with the level of civilization in the united states, that the digital dollar will be successful?

Understand this fact, USD CBDC may be successfully launched and nothing can stop that fine and good but bitcoin can never admit CBDC as a threat just as a dog cannot be a threat to the lion same is how CBDC can never be a threat to bitcoin, cbdc is not a cryptocurrency but rather a digital version of fiat currency, what the people want ks bitcoin and are achieving their results in adopting it, i believe a large number of US citizens are benefiting the use of bitcoin using peer to peer without having a role from centralized banks or exchanges, both CBDC and bitcoin may exist together but the people understand what they want and go for it.

[DeathAngel]

Digital dollar is not a threat to bitcoin, no. Digital dollar is just a stablecoin, a shitcoin. It’s the same as the regular USD, they will be able to track everything you spend. They will be able to see what you like buying, where you eat, where you hang out. It’s full on communism, straight out of China.

Bitcoin is so much better in all ways. There’s a fixed supply, you can buy what you want & nobody can stop you. Your money won’t be eaten by inflation. You can transact P2P without government surveillance.

Buy bitcoin!

[Upgrade00]

You are asking two questions, one in the title and one in the thread. Addressing the latter first;

Do you think with the level of civilization in the united states, that the digital dollar will be successful?

Yes, it's a possibility. Digital exposure is quite high in the U.S, and having an extra layer on that using the block chain could definitely be successful. It could create a cheaper and faster way to transact using the USD, than what is available today, while giving the government more control of transactions.

Will digital dollar be a threat to bitcoin?

Is the regular dollar a threat to Bitcoin? It isn't, so a digital version, or more specifically a blockchain version would not be any different.
People use Bitcoin for a couple of reasons;
• As a global currency,
• For privacy,
• For freedom,
• As an asset and/or hedge fund,
• As a speculative asset, etc.
A CBDC would not fill this and attract those users to hold them instead.

[KingsDen]

The digital dollar you are saying about is the CBDC which is already in existence in many countries, including China that you mentioned. I want to note that your caption is wrong or doesn't correlate with the body. The real question would have been "Will digital dollar be a threat to stable coins like USDT".

Bitcoin is in different class as it is not centralized, unlike some stable coins and the alleged digital dollar. Then, to answer your question, there'll be no difference between fiat dollar and digital dollar. So, since fiat dollar doesn't affect Bitcoin, the digital version will not also. The innovation will encourage many to learn about cryptocurrency, it is an advantage.

[franky1]

a CBDC is not going to change over night..
just like taking old design bank notes out of circulation.. for a period of time they have both forms running both accepted as legal tender and slowly when old money is handed into banks new money is handed out. and old money doesnt return to circulation

most people spend their months salary within that same month. thus it wouldnt take decades to transition just like it doesnt take decades to take old bank notes out of circulation

the UK is going to be an example of how fast old (queen face) bank notes will be taken out of circulation

other methods they could employ
initially i can see how US could offer CBDC at a good + interest rate where people can "save" CBDC and earn interest on it while "saving" old fiat will go into negative interest. if they hand in/convert their normal fiat dollar to claim new CBDC then they wont lose value. . and then after some time just take old notes out of circulation. and the transition is complete

[CryptSafe]

I really do not think digital dollar would be a threat to Bitcoin. Bitcoin is seen as a store of value while some see it as digital gold. Digital dollar can stand as a means of transacting with Bitcoin for value but can not in any way effect or compete with Bitcoin. Bitcoin has already been in existence before digital dollar and come to talk of it, digital dollar is just currency to complement the fiat. So therefore I see no reason it Should be a threat to Bitcoin.

[topman21]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

I don't believe this will start the loss for Bitcoin.Various countries such as China have previously banned Bitcoin and brought their currencies to the market, but this did not harm Bitcoin.From there we were able to prove that no currency can actually be a loss for Bitcoin.If there is a system to convert the digital dollar to Bitcoin, Bitcoin will definitely be stronger.

[minairia3]

Digital dollars or any CBDC coin will not affect or threaten bitcoin. Simply because their essence is still the original fiat only converted to digital, still government-administered, still issued without limits, and will lose value over time. Actually, I don't see a difference between fiat and CBDC.
With the development of technology as well as the digitization of everything today, upgrading fiat to digital is inevitable. The goal is not that it will compete with bitcoin but the goal is to bring convenience to people as well as greater control for governments.

[bittraffic]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

They are saying they are following China's model?
The use of BTC will be threatened as this digital dollar may just be used and adopted faster than BTC. That is just it but BTC will still be preferred by most as an asset. The energy fud has been around for years but it's not going to make BTC vow to this fud.

But USD is also threatened these days since more countries today are avoiding the dollar use because of Russia-China transactions.

[FinneysTrueVision]

Most economic activity in the US is already digital. I don't know how an official diftal currency would look like. Would it only be used for settlements or will people be buying their coffee with it? It won't be a threat to bitcoin regardless. There will always be a need for something that is permissionless and censorship-resistant.

[mk4]

The digital dollar wouldn't be a threat to bitcoin the same way how the USD in it's current state isn't a threat to bitcoin.

Regulations concerning PoW mining is a different topic though. If the authorities became a lot more strict, it's safe to assume that we'd expect a temporary sell off; but in the end it would still probably be a nothingburger in the long term.

[SquirrelJulietGarden]

Digital dollar will not be a thread for Bitcoin.

It is similar to stable coins that are abundant in crypto market but it has a big different characteristic. It is built, launched and managed by central banks and governments. It won't be collapsed like UST from Terra and it is advantage of governmental digital dollar.

Growth of digital dollar and CBDCs will result in more and stricter solutions from governments in regulations, law enforcements in order to control stable coins as well as reduce effects of stable coins. They will do all these to get as much benefit as possible for their CBDCs.

[2stout]

Just remember, digital dollars/CBDC= fiat 2.0, so it's really hard to see it being a threat to Bitcoin, IMHO.  Bitcoin is a true global currency, wherein the digital dollars/CBDC will be a more a nation thing with some international reach.  Gotta worry more about the gov't being a threat than the digital dollar; who knows, maybe it's one of their tools to backdoor Bitcoin?

[davis196]

The only short term threat regarding the digital dollar would be banning Proof-of-work blockchains and mining in the United States.
The Bitcoin miners will have to move to another country. There will be short term drops of the mining hashrate and that's all.
The digital dollar would be a bigger threat for the fiat banks rather than Bitcoin. CBDCs are designed to give more power to the central banks and I'm sure that this will make the private banks obsolete in the distant future. In the short term, private banks cannot be destroyed, because there's no new system that can replace the current fiat lending system.
Maybe PoW coins will be banned completely from all crypto exchanges in the future. Who knows?

[Pierre 2]

Well I personally use 3 biggest usd pegged stable coins right now (BUSD, USDT and USDC) but purpose for me to use them is completely different. I convert Turkish lira to USD over these coins. So Digital Dollar would only make things easier. Compared to my dollar demand, I buy Bitcoin to do conversions to altcoins, or to hodl, or to short term trade etc. People should stop comparing stable coins to Bitcoin.

[Iranus]

The only short term threat regarding the digital dollar would be banning Proof-of-work blockchains and mining in the United States.
The Bitcoin miners will have to move to another country. There will be short term drops of the mining hashrate and that's all.
The digital dollar would be a bigger threat for the fiat banks rather than Bitcoin. CBDCs are designed to give more power to the central banks and I'm sure that this will make the private banks obsolete in the distant future. In the short term, private banks cannot be destroyed, because there's no new system that can replace the current fiat lending system.
Maybe PoW coins will be banned completely from all crypto exchanges in the future. Who knows?

I don't understand any connection to digital dollar issuance and POW blockchains and mining, POW will only be affected by energy related issues.
CBDC or digital dollars are really just an upgrade of fiat to a digital version, so they will support banking or fiat money in the future. They are basically brothers, not rivals. CBDC would be a danger to stablecoins, as money printing should be managed by governments, not by private companies. The stablecoin is irritating government institutions, who feel their power is waning because of the unregulated operation of the stablecoin.

[TheUltraElite]

It will all depend on the returns that Bitcoin and digital dollar will give. Digital dollar is more like a stablecoin which is suitable for risk averse individuals.

A digital dollar is a stablecoin. There is no question of return coming for that, but to be used only as a stablecoin or just like anoher fiat money payment mode.

If Proof of work miners are prohibited they will move to other countries. There are bypasses to such problems and mining would not stop. Again a CBDC will not change the entire scenario immediately. There will be gradual change in the people's minds and then the coin might see some movement. Whether people use the CBDC or crypto will come to picture only then.

[Luzin]

Just remember, digital dollars/CBDC= fiat 2.0, so it's really hard to see it being a threat to Bitcoin, IMHO.  Bitcoin is a true global currency, wherein the digital dollars/CBDC will be a more a nation thing with some international reach.  Gotta worry more about the gov't being a threat than the digital dollar; who knows, maybe it's one of their tools to backdoor Bitcoin?

It is clear that some countries today have plans for the creation of digital currencies. That's because they are concerned about the development and flow of crypto currency. They are afraid of being challenged and are powerless to stop it. CBDC dollars are also a digital currency with full state control and will probably be the same as you say. But the digital dollar will also need a process of recognition. That's what's a regulatory advantage.
Maybe CBDC will be recognized as a legitimate transaction tool, and that's what makes BTC a little weak. But I think as long as the consensus of trust in crypto is there, we don't need to worry. I think crypto is just about to start.

[Reid]

It will be successful, I do believe that. It's not like many of Americans are still using literally cash, most are using credit and debit cards so when it comes digital, it will be more like an upgrade again.
Is it a threat to Bitcoin? No, so does any fiat that is change to digital.
It goes back to the sample of credit and debit cards. They exist and yet investors are buying Bitcoin. It's not really because of usage but more like preparing for the future.

[Leviathan.007]

We have had this discussion on the forum for a number of times and the answer has always been the same and clear. It is important to understand that this will not be a threat or a problem for bitcoin at all because in the end, a digital dollar is something that is backed by a dollar and there is no significant difference between a digital dollar and a fiat money. Both are centralized and are getting controlled by governments, central banks, and other related organizations, which means that there is no big difference between traditional fiat money and the digital dollar. Therefore, this cannot pose a threat to bitcoin at all.

[_BlackStar]

OP, I agree with some assumptions that digital dollars are not a threat to bitcoin. The digital dollar is a CBDC product that is currently being prepared by the government in order to regain the trust of its customers. Centralized financial systems have lost a lot of user trust mainly because of the many problems customers have with banks out there.

Of course it would be very similar to a stablecoin, but these digital dollars are controlled by the government through a central bank. There may be positives and negatives for bitcoin, but I'm sure anyone who knows how the centralized financial system works then bitcoin will still be the best option to use.

[rby]

Digital dollar = Digital Currency
Bitcoin = Cryptocurrency
A digital currency which made by a government of a country couldn't be cryptocurrency. As much as cryptocurrencies offer us decentralized convenience and informational security, I don't think any government-run currency can protect it. I also think that digital USD is a stable currency, and Bitcoin is a currency with volatilities so Bitcoin is used for trading. So all things considered I don't think we need to worry about digital dollar.

It is not all cryptocurrencies that are decentralized and has information security. That is why Bitcoin remains the only reliable coin in terms of decentralization. It means that CBDC and some altcoins share the same characteristics of centralization. And if thr digital dollar should have effect on cryptocurrencies, it should affect coins like Binance stable coin and usdt and not decentralized Bitcoin.

[Odusko]

The digital dollar will not be a threat to Bitcoin as Bitcoin only provides an alternative and not a competitor with traditional currency, after all, does not only serve as a currency but also an asset that has the potential to grow in price and that is why Bitcoin is sometimes referred as digital gold. As long as the digital dollars price does not grow above the traditional dollars then it does not have the same characteristics as Bitcoin and should not be a threat to Bitcoin.

[lalabotax]

Isn't this question also for various other CBDCs?
We can see from the digital dollar function itself. is a legal tender. And became the benchmark currency in most countries in the world. But Bitcoin, this not only applies as a currency, but also has value and trust to be something worth investing in. While the dollar, no. This is what makes Bitcoin most likely not to be disturbed by the digital dollar.

[ingiltere]

Not at all. There is a lot of difference between Bitcoin and digital money. For one thing, there is no state control in Bitcoin. Any digital currency that states try to make will be a centralized system. This is completely against Bitcoin's philosophy.
Most of the money used right now is digital anyway. Which one of us carries cash? Everything happens through credit cards and mobile payment systems.
I don't understand why these discussions are still happening. People who understand the philosophy of Bitcoin already know that such initiatives will not replace Bitcoin. I don't see any other currency that threats to Bitcoin. Because Bitcoin didn't come to this stage easily, it didn't gain this trust for no reason. None of the altcoins have even 10% of that trust. Look at what's happening with second place holder Ethereum. How far is it actually in terms of decentralization and trust. That being the case, a centralized digital currency is not even a threat.

[BitcoinMoses]

Digital Dollar is not Decentralized Currency. It is fiat currency. Bitcoin is not fiat currency.
Bitcoin is an electronic cash and the payment system.

Digital dollar will have no impact on Bitcoin.

[suzanne5223]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The digital US dollar will never be a challenge for the growth of crypto in the US because they both didn't serve the same purpose and the last time I checked the CBDC is always another version of fiat currency but if the Fed misunderstands this there may be a form of challenges for crypto growth in the US.
In the meantime, I hope the US government won't imitate the BTC blockchain concept and go for proof of work.

Do you think with the level of civilization in the united states, that the digital dollar will be successful?

The US digital dollar beings success depends on the idea implemented by the US government but the use of POW cryptographic proof won't make the US digital dollar crypto a success.

[GreatArkansas]

US dollar will still be US dollar, it will be just digitalized, it's like what we have now which is stablecoins, so what's the point they still want to do it as we already experiencing to use a digital us dollar which is stablecoins we have now?
So for me, this is really far threat with Bitcoin as their digital US dollar is pegged with fiat US dollar which we all know the value of it is decreasing over the time.

[Rigon]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

The digital dollar will not hurt Bitcoin. Rather, it may be even stronger for Bitcoin. As soon as the digital dollar comes in, they will start trading with Bitcoin and Bitcoin will gain even stronger.As we may have seen before China issued their own currency and banned Bitcoin But there was no damage to Bitcoin, maybe from here I can say that even if the digital dollar is launched, there will be no damage.

[Gallar]

it will not be a serious threat to bitcoin, because even though the US dollar is made as digital money but the function and use will be the same, it is only made digitally, so it will not be a threat to bitcoin, because bitcoin is still considered an asset / investment, rarely who use bitcoin as a means of payment, digital dollars will not be a threat because in terms of usability there is something different.

[adzino]

It is not going to be any threat to bitcoin. Digital dollars won't be decentralized. So people looking for decentralized currency, currency that isn't controlled by the government, currency that they own and no one else has control of will still be using bitcoin.


There are already "digital wallet dollars" and they were never a threat. And then lets be honest, most people invest in bitcoin to make profits. You won't be able to make any profit holding stable digital dollars.

[SheilaF]

Digital dollar are not any threat to bitcoin. In fact, bitcoin can help in promoting digital dollar. Through bitcoin, we can realize the goal of cashless economy. For example, we can purchase online items through bitcoin, and the seller can easily get the digital dollars with low fee. This can make digital dollar successful.

[sunsilk]

No need to think about it being a threat. Bitcoin is volatile while digital dollar has a stable value. While we hold bitcoin, we're all for it until the price of it goes up.

While this digital dollar and others that have the same stagnant value, they'll be used mostly for purchase as it's guaranteed that there will be no volatility issues.

So, the difference of it from bitcoin is totally far and we can still use bitcoin the same as these digital dollar does. But, they can't be the same as bitcoin for being volatile.

[Wexnident]

Just because Bitcoin was brought along within the discussion of the topic doesn't mean that it's going to be a threat to it. They're still both mediums that people can use, sure if Bitcoin was under the government then yes it might've been but it isn't, it's decentralized, so it can't kill or be killed imo. What digital dollar threatens is fiat though it's might be more apt to call it an upgrade/migration to a better system. Just imagine it as the world having their own currency (compared to a currency set by someone else for the world).

[romero121]

The government have got broad plans, but on execution it won't get the expected results. The digital dollar from US is planned to function on the decentralised network eliminating the middleman and other bank process. The government fear of its financial situation.

For now dollar is considered the reserve and countries valuate their national currencies based on dollar holdings. This benefits the US government financially. If countries leave and starts holding their own digital currency, this will affect America's financial progress. For that purpose digital dollar is being developed and this doens't make any impact over bitcoin.

[FallingKnife]

A digital dollar is still just an inflationary fiat currency.

Then again, a digital dollar will make it easier to buy Bitcoin.

I hope we get digital dollars.

[gunhell16]

I don't believe this is a threat to Bitcoin. Nothing happened when China banned Bitcoin and launch its digital currency. Rather it would be easier to convert into fiat once the exchange adds digital dollar or fiat. Then we don't need to run for paper money. And the blame for energy consumption isn't new anything.

I'm the same way, at least the dollar has never been a threat to bitcoin. And to be honest, I'd rather hold bitcoin and save it than dollars.
Then let's just talk real, the dollar is known all over the world as a major currency but the dollar has no backup, that's the truth and it only revolves around loans. That's the truth here.

Unlike bitcoin, while you hold it, the chances of its value increasing in the future are high. That's why right now a lot of people are buying it little by little to accumulate because of the belief that it will be 100k$ each when the bull market comes, that's for sure based on the analysis of veterans and experts in this industry.

[Kakmakr]

These so-called "GovCoins" are all centralized and they are just a digital copy of a failed Fiat currency that are being manipulated to suit the governments needs and goals. 

The problem is that the average citizen does not understand the problem with centralized currencies that are manipulated by governments, so they will not care about it.

We need to educate people on the PROs and Cons of "GovCoins" vs real Crypto currencies, so that they can make informed decisions when they are offered a choice. 

[budi691]

because it is not centralized and Bitcoin has existed before the digital dollar, obviously Digital dollar is not a threat to bitcoin, because basically its essence is still original fiat only converted to digital, still managed by the government, CBDC will be recognized as a legal transaction tool, and that is what makes BTC a little weak , but it is not a serious threat, Bitcoin is a currency with volatility and Bitcoin remains the only reliable coin in terms of decentralization

[Jeger.Kiting]

Since many people see Bitcoin as an investment or asset rather than a payment method that can compete with the established ones offered by centralized platforms, such as Visa and Mastercard, it will not pose a total threat to Bitcoin. Since this digital currency project by the US will probably make it easier for people to manage their finances, pay their bills, pay for their services, and track their credit scores, instead of centralization and possible surveillance for commercial and law enforcement purposes, digital dollars will probably be very success. among the average person who doesn't know about Bitcoin or cryptocurrencies in general. Those who wish to speculate on the value of Bitcoin will continue to have plenty of liquidity.

[Fireebrand]

It's definitely not a threat, it will take a lot of time for this to become part of the normal so as of now, it is just a small step towards figuring out how the public reacts to the digital dollar. The rest, we shall see.

[Jody.Drummer]

Bitcoin already has a place in the hearts of its users, I don't think they will leave after so long in the bitcoin environment. When the digital dollar was created, everyone would be looking for information on why there was such a policy. When they know that Bitcoin is one of the factors, they will surely find out more about Bitcoin (for people who don't know at all). This is an advantage in itself, because I believe that some of them will definitely be interested in bitcoin through the way the government has created it.
So this is not a threat, even those who initially did not know at all, will be literate towards bitcoin.

[TribalBob]

I don't think it's a threat, it takes a very long process to be accepted by the wider community, even after 10 years there are still many rejections. if you look at its function, there is no effect at all because basically bitcoin is an investment not a means of payment like usd,

[Gyfts]

Isn't this question also for various other CBDCs?
We can see from the digital dollar function itself. is a legal tender. And became the benchmark currency in most countries in the world. But Bitcoin, this not only applies as a currency, but also has value and trust to be something worth investing in. While the dollar, no. This is what makes Bitcoin most likely not to be disturbed by the digital dollar.

Digitalized dollars are basically CBDC's. Idea is to get rid of paper based cash and force people to rely on a central authority for digitalized funds. It allows the central authority to revoke the funds at any time or disallow users to spend the funds (ie freeze accounts).

Bitcoin isn't inherently threatened by CBDC's because they don't operate the same. That being said, the indirect threat exists because government will never cease to act on an opportunity to regulate Bitcoin into the ground while propping up their own useless currencies riddled with inflation and inept central bank control

I'd be worried if I were you.

[Piesel]

What most people failed to understand is that CBDC in whatever currency is already existing and if you can just send a figure from your bank account to another account you are already using the digital form of that currency.

What makes the difference is that some CBDCs are run on the blockchain and have a wallet address instead of an n account number but aside from that, nothing differentiates it from the normal traditional dollars so I can't see it as a threat to Bitcoin in whatever way.

[Cryptomultiplier]

Isn't this question also for various other CBDCs?
We can see from the digital dollar function itself. is a legal tender. And became the benchmark currency in most countries in the world. But Bitcoin, this not only applies as a currency, but also has value and trust to be something worth investing in. While the dollar, no. This is what makes Bitcoin most likely not to be disturbed by the digital dollar.

Digitalized dollars are basically CBDC's. Idea is to get rid of paper based cash and force people to rely on a central authority for digitalized funds. It allows the central authority to revoke the funds at any time or disallow users to spend the funds (ie freeze accounts).

Bitcoin isn't inherently threatened by CBDC's because they don't operate the same. That being said, the indirect threat exists because government will never cease to act on an opportunity to regulate Bitcoin into the ground while propping up their own useless currencies riddled with inflation and inept central bank control

I'd be worried if I were you.

CBDC is just one of the latest waves making headlines in most countries who don't want to fully accept crypto currency. Digital dollar is same as CBDC. Although, the idea of which it operates on shares a digital similarity with cryptocurrency, in that both ensures the user carries less cash around, can buy or sell through a digital device from anywhere in the world with an internet access, also one can easily convert currencies to suit demand. It is sure going to aid curb inflation, and reduce offline crime. However, more awareness need be created by recognized sponsors to expose scamming theatrics and provide online security for users who have been able to adopt CBDC fully.

[Wakate]

Digital dollar are not any threat to bitcoin. In fact, bitcoin can help in promoting digital dollar. Through bitcoin, we can realize the goal of cashless economy. For example, we can purchase online items through bitcoin, and the seller can easily get the digital dollars with low fee. This can make digital dollar successful.

Digital dollar can only be a stable currency and not the type of currency like Bitcoin. Bitcoin is volatile and always has the tendency to move upward and downwardly without been stuck in a particular price. Digital dollar can only be like the normal stable coins like the usdt and others that we have a stable currencies. I think investors will still value Bitcoin than any other coins we are going to have in the crypto market soon because it is still the major coin that controls the market and determines the price of other coins and tokens. It is a universal currency that can not be compete with in time.

[goldkingcoiner]

The digital dollar is proof of governments starting to panic about Bitcoin. They think if they make a trendy "crypto" out of their useless fiat then that somehow fixes the problems that fiat has. Namely centralization, verification and corruptibility. The governments and all the politicians do not truly understand why Bitcoin is as famous as it is. They think its all a PR bubble which has gone too far. This is exactly why the digital dollar, yen, euro, etc. will fail.

I enjoy watching them desperately try to invent a trendy new fiat to replace the same exact fiat. Bitcoin will definitely rise to the top and become the global money. Well, as long as the world still exists. Lets see if we don't nuke ourselves and Bitcoin out of existence

[Asiska02]

The only reason if there is any, for digital dollar to be a threat to bitcoin will be it having characteristics (blockchain) features as that of bitcoin. Apart from that, I don't see it as a threat to bitcoin. The government will still control and own the digital dollar, which can be regulated and reversed, unlike bitcoin. The dollar is a worldwide currency that is used for various exchange purposes and cross-border payments, thus its digitization will benefit the government but will never pose a threat to bitcoin.

[Rengga Jati]

The only reason if there is any, for digital dollar to be a threat to bitcoin will be it having characteristics (blockchain) features as that of bitcoin. Apart from that, I don't see it as a threat to bitcoin. The government will still control and own the digital dollar, which can be regulated and reversed, unlike bitcoin. The dollar is a worldwide currency that is used for various exchange purposes and cross-border payments, thus its digitization will benefit the government but will never pose a threat to bitcoin.

Indeed, although the dollar as a worldwide currency, this will not give a big impact on Bitcoin. However, as we know that this day is a digital world day. I mean that many more systems are operated digitally, yes, of course, the existence of a digital dollar cannot be ignored. The development of this digital era is very rapid, so it is possible that the digital dollar will also continue to grow rapidly. However, this again will not have much of an effect on Bitcoin. Because we ourselves know the function of each. The dollar, still centralized, is controlled by the government and the world bank. Whereas Bitcoin is not. This is what remains the attraction to Bitcoin. And what's more, Bitcoin is not only a means of payment but also a valuable investment tool.

[KennyR]

The only reason if there is any, for digital dollar to be a threat to bitcoin will be it having characteristics (blockchain) features as that of bitcoin. Apart from that, I don't see it as a threat to bitcoin. The government will still control and own the digital dollar, which can be regulated and reversed, unlike bitcoin. The dollar is a worldwide currency that is used for various exchange purposes and cross-border payments, thus its digitization will benefit the government but will never pose a threat to bitcoin.

As the digital dollar function over a decentralised network, it will have all features of a cryptocurrency. For some reason it is not the same as bitcoin, the entire control will be with the government.

The reason for which the digital dollar is being developed in a much faster phase is to keep dollar strong. Because countries might find ways to hold reserve in their own currencies which might affect dollar. So, it doesn't have anything to do with bitcoin and this development isn't gonna affect the progress of bitcoin.

[dansus021]

maybe in the future the Central Bank Digital Currency or CBDC will success but like all other said it will be centralized and in my opinion it might not transparent as crypto did, and the other that it will not a threat for a bitcoin and I think this will be the opposite people maybe get more attracted of cryptocurrency world

[autumnleaf]

In the same way that the ban on bitcoin in China had no impact, I don't believe the existence of a digital dollar poses a threat to bitcoin. In addition, I think that the United States has a good chance of making the digital dollar initiative a success given its strength and resources. It might offer secure, affordable, and quick payments with the digital dollar project.

[CryptoYar]

Will digital dollar be a threat to bitcoin?

Nope, digital dollar will be controlled by the central bank whereas Bitcoin is the exact opposite, It can not be controlled by any central authority.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.
~

Bitcoin is 56x more energy efficient than the current banking system. I think the problem is not energy consumption, but the financial freedom that bitcoin offers.

A recent peer-review white paper finds that Bitcoin's blockchain uses almost half the annual energy of previous estimates. The Valuechain publication also shows that Bitcoin is 56 times more energy efficient than the current banking system.

Source

[UmerIdrees]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

USDT ,USDC and all these stablecoins are also sorts of digital dollars though the US government does not recognize them. In case US government came with its own digital dollar, it will have no effect on the bitcoin. I would say that bitcoin will become even stronger since we know that US dollars won't be inflation free and can be produced as many as they like anytime. 

The effect of digital US dollar would be that other countries will also come up with their own stable coins, creating a mess of useless coins 

[Pmalek]

The dollar is already digital. Cash isn't used as much as it was in the past and future societies will be cashless ones. The only thing those is power have to do is to create a system with stricter control that would allow them to govern you by fear. If you aren't in line with their agenda, you can be punished by not being allowed to use your digital and centralized coins the way you want to.

For something like that to happen, you have to get rid of the competition. What is the competition to a fully controlled government coin? The one that is decentralized and trustless.

But they are not going to ban it just like that because they don't want to look like the enemy. They want you to request for bitcoin to be banned because it's a hazard for the environment, it's used for money laundering, financing terrorism, and all other sorts of illegal activities. The negative portrayal of Bitcoin will continue to show the people that it's not in their interest to use this currency. And if and when enough interest is generated and someone proposes that we should maybe ban it, the majority will get on board.

Stay educated. In the name of the late George Carlin, don't trust anything your government tells you. Nothing. 0%, nada!       

[taufik123]

Bitcoin is 56x more energy efficient than the current banking system. I think the problem is not energy consumption, but the financial freedom that bitcoin offers.

A recent peer-review white paper finds that Bitcoin's blockchain uses almost half the annual energy of previous estimates. The Valuechain publication also shows that Bitcoin is 56 times more energy efficient than the current banking system.

Source

but they still think that bitcoin is a major problem of big energy use and masks the real big energy use. Bitcoin becomes the scapegoat to cover it all. Financial freedom is a disaster for governments because they cannot regulate it. Bitcoin is a financially free digital asset that is full of pros and cons, but bitcoin will survive and cannot be threatened by anything including the digital dollar that continues to emerge. Bitcoin stays on track and digital dollars or stablecoins stay on track too. The government cannot fully regulate.

[Oasisman]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

Digital dollar sounds like it has been existing already with all the digital and online transactions using various types of E wallet that converts your physical fiat digitally. This might probably work for the convenience of every means of online payment. However, Bitcoin is still different than this digital dollar, as Bitcoin could either be used as a currency or an investment. Dollar, may it be fiat or digital will eventually deflate, while Bitcoin will continuously rise and will avoid deflation. 

[Ozero]

The digital dollar will not pose an immediate threat to bitcoin because the digital dollar is an improved form of cashless dollar payments. The digital dollar can really compete directly with non-government stablecoins because they will have so much in common. Moreover, states may further prohibit the circulation of non-state stablecoins due to such competition.

[BobK71]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

Digital dollar sounds like it has been existing already with all the digital and online transactions using various types of E wallet that converts your physical fiat digitally. This might probably work for the convenience of every means of online payment. However, Bitcoin is still different than this digital dollar, as Bitcoin could either be used as a currency or an investment. Dollar, may it be fiat or digital will eventually deflate, while Bitcoin will continuously rise and will avoid deflation. 

It can be said that digital dollars have been used since before the advent of Bitcoin. Generally we consider digital form of fiat money as digital dollar. Bitcoin or cryptocurrency emerged after this digital dollar. But that doesn't affect Bitcoin or Cryptocurrencies because they are two different things. Both are stands in their own position. Where cryptocurrencies are completely different which is run by the use of blockchain technology.

[kryptqnick]

The topic of digital dollar was discussed many times. We already have USDT, and it doesn't seem to take away Bitcoin's power. USDT is not under control of the government, and IMO it makes it better, attractive to peope around the world. The USA is a big country, but many people within it would be skeptical about the digital dollar because they prefer the one they already have, and people outside the US might be reluctant to use something that is under lots of control of a particular state which they might not trust or like.
Furthermore, lots of people are into Bitcoin because of its growth. The digital dollar would aim at stability, not growth of value, so it's a completely different thing even in this regard and thus Bitcoin users won't be tempted to switch at all.

[Coyster]

maybe in the future the Central Bank Digital Currency or CBDC will success but like all other said it will be centralized and in my opinion it might not transparent as crypto did, and the other that it will not a threat for a bitcoin and I think this will be the opposite people maybe get more attracted of cryptocurrency world

Quite a lot of people are already allured to decentralized cryptocurrencies like Bitcoin, and also centralized non-government crypto in general, mind you that in no way is the government attempting to create CBDC's to allure people to crypto, or to encourage people to use crypto, CBDC's are created in a bid to reduce the number of people that are using decentralized crypto, a part of me has always felt that the campaign for CBDC's is basically in direct competition to Bitcoin.

Having said that, whilst CBDC's don't function like Bitcoin, and what goes on with it can't directly affect Bitcoin, but the activities of those who created CBDC's can affect Bitcoin, and these people are no other than the government, they'd definitely strengthen their campaign against Bitcoin, trying to dissuade their people from using it, but rather they should trust the crypto that is issued and controlled by them.

Bitcoin has always risen above government manipulation, and i am pretty sure that the case of CBDC's will absolutely be no different.

[Abiky]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

Neither the Digital Dollar nor the Digital Yuan will be a direct threat to Bitcoin. That's because Bitcoin's decentralized and censorship-resistant design will make it hard (if not impossible) for governments to carry on with their agenda of forcing the use of Fiat for good. There will always be a way to access Bitcoin even if the government bans its use (consider how there are people mining and using Bitcoin in China even though it was "banned" by the government some time ago). CBDCs like the Digital Dollar and the Digital Euro will only strengthen Bitcoin's adoption in the mainstream world. The fact that central banks are responding with digital currencies of their own, tells us that Bitcoin is being taken seriously among those who previously ignored it.

I think the Digital Dollar would be successful because the pandemic has accelerated the adoption of digital payments by a large margin. People are used to paying with their phones or credit/debit cards without ever touching paper money, so the transition to digital Fiat should be a no-brainer. If the US acts quickly, it may be able to hold the Dollar's (USD) position as the reserve currency of the world. We'll see what'll happen after the Digital Dollar is launched for public use. Just my thoughts

[Agbe]

Well I do not have much to say about this all what I to say is that, as far as I know, dollar can not be a challenge to bitcoin. Let me use my country as a. example, dollar is very high in my country but I or we are even angry that why we are using dollar which is not even used to but garri in the market but this the garri that we can used dollar to is very costly because of the high rate of dollar. Now coming to America, dollar can not be used to trade another dollar because it does not have bullish and bearish markets, And also dollar is a stable currency which is controls by Americans government but bitcoin is a decentralized digital currency that does not controlled by any. Bitcoin can be trade itself that is p2p trading because it grows. You can but bitcoin and store it to grow but dollar is stagnant. Therefore, it is bitcoin that has a bigger threat to dollar and not the digital dollar that can be a threat to bitcoin but bitcoin does.

[_BlackStar]

Well I do not have much to say about this all what I to say is that, as far as I know, dollar can not be a challenge to bitcoin. Let me use my country as a. example, dollar is very high in my country but I or we are even angry that why we are using dollar which is not even used to but garri in the market but this the garri that we can used dollar to is very costly because of the high rate of dollar. Now coming to America, dollar can not be used to trade another dollar because it does not have bullish and bearish markets, And also dollar is a stable currency which is controls by Americans government but bitcoin is a decentralized digital currency that does not controlled by any. Bitcoin can be trade itself that is p2p trading because it grows. You can but bitcoin and store it to grow but dollar is stagnant. Therefore, it is bitcoin that has a bigger threat to dollar and not the digital dollar that can be a threat to bitcoin but bitcoin does.

Note that this is not about fiat dollars or any other fiat currency, but this thread is about the other possibilities that digital dollars could bring to a new form of government-owned payment system and will it be a threat to bitcoin?

I've already said that the traditional fiat payment system we've been using has had many setbacks, including a reduction in customer trust in banks. But what will be the impact of digital dollars or the like on bitcoin, that is the main point.

[ejd59005]

Honestly, isn't the dollar mostly digital as it is right now? Most people I know, me included use debit or credit cards in place of cash. Literally using 'digital dollars'

I see what you mean though. Could the government make up their own digital currency and 'force' people to use that while trying to push bitcoin out because of the energy usage? That's actually an interesting concept. They push out BTC because of the amount of energy we're consuming while some states like Texas ran out of energy last winter. I really don't know what they'd do honestly, but it does seem like they really want to limit the amount of energy being consumed, like ETH has done.

Either way I think BTC is here to stay.

[_BlackStar]

Honestly, isn't the dollar mostly digital as it is right now? Most people I know, me included use debit or credit cards in place of cash. Literally using 'digital dollars'

Yes, it is digital fiat that has nothing to do with blockchain. But I can think the digital dollar the OP is referring to is the digital dollar the government is planning to go through CBDC where the concept is still centralized but maybe integrated with one of the blockchain.

I see what you mean though. Could the government make up their own digital currency and 'force' people to use that while trying to push bitcoin out because of the energy usage?

That can be done through the CBDC, but the government will not be able to encourage bitcoin users to stop using bitcoin. CBDC is government owned currency where they have central authority, so it is just another alternative to government currency to get more usage

Either way I think BTC is here to stay.

Of course, bitcoin to stay - CBDC will not negatively affect the popularity of bitcoin.

[Abiky]

Honestly, isn't the dollar mostly digital as it is right now? Most people I know, me included use debit or credit cards in place of cash. Literally using 'digital dollars'

I see what you mean though. Could the government make up their own digital currency and 'force' people to use that while trying to push bitcoin out because of the energy usage? That's actually an interesting concept. They push out BTC because of the amount of energy we're consuming while some states like Texas ran out of energy last winter. I really don't know what they'd do honestly, but it does seem like they really want to limit the amount of energy being consumed, like ETH has done.

Either way I think BTC is here to stay.

Yes. But even though the US Dollar is digital through the use of credit/debit cards, it doesn't live on a Blockchain or Distributed Ledger that's controlled by the government and the Federal Reserve. The transformation will be completed when paper money is phased out for good and the FED launches a CBDC which resembles Bitcoin in every way (except that it won't be decentralized). While a digitized version of the US Dollar won't be a direct threat to Bitcoin, it will certainly give more power to the government over people's finances. A CBDC would be the perfect tool for a full-fledged surveillance state. It'll be the end of privacy as we know it. Most people don't care about privacy anyways, so they will quickly adopt the Digital Dollar even if that would lead them to a "certain path of death". Just my opinion

[JohnBitCo]

The only reason if there is any, for digital dollar to be a threat to bitcoin will be it having characteristics (blockchain) features as that of bitcoin. Apart from that, I don't see it as a threat to bitcoin. The government will still control and own the digital dollar, which can be regulated and reversed, unlike bitcoin. The dollar is a worldwide currency that is used for various exchange purposes and cross-border payments, thus its digitization will benefit the government but will never pose a threat to bitcoin.

In order for the digital Dollar to become a threat for bitcoin it has to become completely decentralized and also it has to be not in control of any government. Since digital dollar will be controlled by the US government there is no way to dollar can become a threat to bitcoin. I don't understand why people are comparing digital dollar with bitcoin.

[ChiBitCTy]

This is a topic that has already been heaving debated and as your post mentions, something that China had already rolled out, some time ago in fact. The truth is the same principles apply as to why neither will be any sort of legitimate contender to bitcoin and that’s because they are both centralized currencies and that’s literally all that needs to be said about it.

[worle1bm]

The actual competition depends on the usage of people and government are still exploring the blockchain technology to develop these digital CDBC but it's not a threat to bitcoin as we have seen in China digital yuan case also.The people will keep utilising btc as mode of investment and payment in the future with the inflation rising.The digital dollar is just another form of currency only subject to government control so how come it can compete with decentralised coin? So we can say that btc growth is determined despite of these relentless efforts by governments.

[rat03gopoh]

Threatened in what?
If the internet and electricity around the world suddenly stopped, then that would be a real threat to bitcoin. Centralized and decentralized aren't competition. In the end, all payment systems will become digital to achieve transaction efficiency, the presence of CBDC is a future innovation that however requires support. Whether you wanna use it or not, it's just a matter of taste.

[BlockChainMentor]

Powell said he will need approval from white house and congress for process with digital dollar although it will not harm bitcoin after approval.

[Flexystar]

Most funny statement I have ever read. That's compulsory failure from white house and it's vision regarding the digital dollar. USA is country where most of the old people live as compared to young minds. They respect their traditional ways of banking and that's cash! I am not at all sure how they gonna implement the digital dollar if the main customer that is their citizens are not going to use it anyways?

El Salvador, the country in central America is big flop example for this one. It was declared as bitcoin acclimatized country, but sooner we saw what happened with the response from the locals. They don't want solutions for the existing ecosystem, they want liberalization of wages, employments, health faculties and much more.

Implementing Digital Dollar means nothing to these things but only way to get over bitcoin. Better they spend the money for improving day to day lives.

[Fivestar4everMVP]

Do you think with the level of civilization in the united states, that the digital dollar will be successful?

Though I am not trying to compare Nigeria to USA, but it might interest you all to know that Nigeria has tried a thing like this, but it didn't succeed, the government of nigeria in a bid to stop its citizens from using crypto currencies created a digital version of the Nigerian naira and called it e-naira, but not only did this fail, it failed woefully, today, I can't find one person that's using this as a means of transaction, it's either crypto or normal (paper) fiat currency.

I see USA is trying to take the same step, I highly doubt it will succeed, any currency that have the control of the government can never be compared to that which is decentralized.

[Abiky]

Threatened in what?
If the internet and electricity around the world suddenly stopped, then that would be a real threat to bitcoin. Centralized and decentralized aren't competition. In the end, all payment systems will become digital to achieve transaction efficiency, the presence of CBDC is a future innovation that however requires support. Whether you wanna use it or not, it's just a matter of taste.

No Fiat currency will ever be able to threaten Bitcoin's existence. That's because Fiat (whenever digital or physical) is centralized, whereas Bitcoin is not. As you've said before, only a complete shutdown of the Internet would be able to stop Bitcoin for good. But we all know this is technically impossible to achieve. A digital dollar would only benefit the US government and the central bank (The Federal Reserve) than individuals themselves. It will be the end of privacy for good since the new CDBC will give the government more power over people's finances. Paper money will be phased out for good, leaving us only with truly-decentralized cryptocurrencies such as Bitcoin and Monero. As long as people have a choice, there should be nothing to worry about. Just my opinion

[KaliLinux]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

Regardless of which nomenclature is now used by the US government, this is no different from the same CBDC we have seen some other countries delving into and has nothing to do with Bitcoin and I also believe has no effect whatsoever on BTC. Is this digital fiat going to be having different inflation effect from its normal fiat currency? or maybe because it is tagged digital? I don't see any difference from the digital services the Banks already provide that any digital currency (CBDC) will change to make it more important to have any edvrse effect on Bitcoin. 

[LUCKMCFLY]

I would never think that the digital dollar could be a threat to Bitcoin, because obviously the dollar would not have any support, even though they say yes, and they have proof of it, it is not like that, it is like saying that they now have low support gold bullion, I think everything is like a mirage where there has always been a clear hegemony of the dollar after the second world war, where the USA was consolidated as a world power, from then on they are the strongest currency, so no would mean no fear for Bitcoin, it's simple, bitcoin is managed through supply and demand, and all its ways like whales, people's emotions, institutions, and they are not controlled by governments or banks, I think that is the best guarantee.

[YUriy1991]

Do you think with the level of civilization in the united states, that the digital dollar will be successful?

My opinion No one will know the true value of digital dollars for quite some time to come. maybe the market experiment had just begun, and it was hard to believe that it could be called a failure so quickly.

There is room for a lot of changes in the near future. Having said that, there are also many questions remaining, namely which coin will rise to the top? How will they compete with other cryptocurrencies? Will they be any different from Bitcoin?

I think that's normal especially for Bitcoin.

[BobK71]

I would never think that the digital dollar could be a threat to Bitcoin, because obviously the dollar would not have any support, even though they say yes, and they have proof of it, it is not like that, it is like saying that they now have low support gold bullion, I think everything is like a mirage where there has always been a clear hegemony of the dollar after the second world war, where the USA was consolidated as a world power, from then on they are the strongest currency, so no would mean no fear for Bitcoin, it's simple, bitcoin is managed through supply and demand, and all its ways like whales, people's emotions, institutions, and they are not controlled by governments or banks, I think that is the best guarantee.

Me too, I never thought that when dollar rises crypto currency will be very affected so much, the reason why we are feeling this thing is because of the best market, we're still in the bear market, and I belive once it is done crypto coins prices will goes up and can have a good start again. Web3 is here, few more days or weeks we can see how it will affect the market price

When the dollar price increases, other countries experiencing inflation. As a result, the price of people's daily goods increases. Financial institutions raise interest rates. Investors are discouraged from investing. Due to which movement is not seen in crypto. The Ukraine-Russia war has had a major impact on economies around the world this year. And if the war continues, it will be difficult for crypto to go into a bullish trend. But digital dollar has nothing to do with crypto. Both positions are different.

[Wiwo]

This is a topic that has already been heaving debated and as your post mentions, something that China had already rolled out, some time ago in fact. The truth is the same principles apply as to why neither will be any sort of legitimate contender to bitcoin and that’s because they are both centralized currencies and that’s literally all that needs to be said about it.

For the fact that the digital dollar will have an intrinsic value, it becomes a no contender to Bitcoin, since Bitcoin has a value that constantly changes against the dollar, so the characteristic of Bitcoin made it unique and able to be called an asset and that is why most people prefer Bitcoin as an asset more than a currency, the only time Bitcoin is most preferred for the transaction as a currency is when Bitcoin is the only alternative to faint in some incidents.

[8rch7]

In my personal opinion, digital dollars will not pose a threat to bitcoin at all, because digital dollars issued by the US government are still the same as dollars issued by federal banks, digital dollars are the same as US paper and coins used. now, in the previous year China also banned bitcoin miners and they tried to create their own coins but the proof is that until now bitcoin is still the main choice of investors, so we don't need to be afraid and don't need to worry even though the government tries to create dollars in digital and issue their own coins but believe me it will never be a threat to bitcoin.

[RealMalatesta]

Threatened in what?
If the internet and electricity around the world suddenly stopped, then that would be a real threat to bitcoin. Centralized and decentralized aren't competition. In the end, all payment systems will become digital to achieve transaction efficiency, the presence of CBDC is a future innovation that however requires support. Whether you wanna use it or not, it's just a matter of taste.

No Fiat currency will ever be able to threaten Bitcoin's existence. That's because Fiat (whenever digital or physical) is centralized, whereas Bitcoin is not. As you've said before, only a complete shutdown of the Internet would be able to stop Bitcoin for good. But we all know this is technically impossible to achieve. A digital dollar would only benefit the US government and the central bank (The Federal Reserve) than individuals themselves. It will be the end of privacy for good since the new CDBC will give the government more power over people's finances. Paper money will be phased out for good, leaving us only with truly-decentralized cryptocurrencies such as Bitcoin and Monero. As long as people have a choice, there should be nothing to worry about. Just my opinion

The idea that there would be a "threat" is the fact that we are talking about something that would be a problem for crypto only in the investment amount, not in a controlling way. So, if there is a digital dollar, a cbdc or whatever you want to call it, that means there could be some money that could have gone to bitcoin, could end up with that.

I am not saying this would be terrible for us, but it could potentially postpone the bull run as well. It’s not a "threat", because both will coexist peacefully and there is no problem with that, but at the same time we are talking about something that would postpone the bull run so it's not a great thing neither.

[Sterbens]

In my personal opinion, digital dollars will not pose a threat to bitcoin at all, because digital dollars issued by the US government are still the same as dollars issued by federal banks, digital dollars are the same as US paper and coins used. now, in the previous year China also banned bitcoin miners and they tried to create their own coins but the proof is that until now bitcoin is still the main choice of investors, so we don't need to be afraid and don't need to worry even though the government tries to create dollars in digital and issue their own coins but believe me it will never be a threat to bitcoin.

That is one of their ways to rival bitcoin, but the fact is that they will not be able to do that, in fact bitcoin will always be a favorite for many people. Most importantly, maybe this will be the beginning of the road for those who are new to bitcoin. This will happen over time, because sooner or later many people will realize the real purpose of the government in creating digital dollars, that is to say copying the way bitcoin works.

[CryptoApeKing]

I don't see how and why a government would allow cryptocurrencies to overtake its own currency as the medium for exchange for goods and services within the global economy.  There are many reasons for this. However the idea of allowing the Government Currency to hedge against BTC is an interesting idea.  We would be going back to the days before the FED was created.   

[Abiky]

The idea that there would be a "threat" is the fact that we are talking about something that would be a problem for crypto only in the investment amount, not in a controlling way. So, if there is a digital dollar, a cbdc or whatever you want to call it, that means there could be some money that could have gone to bitcoin, could end up with that.

I am not saying this would be terrible for us, but it could potentially postpone the bull run as well. It’s not a "threat", because both will coexist peacefully and there is no problem with that, but at the same time we are talking about something that would postpone the bull run so it's not a great thing neither.

Most people will prefer the Digital Dollar over Bitcoin because of convenience. But that doesn't mean Bitcoin will lose interest among investors and traders alike. It's part of a new asset class that's here to stay for a very long time. Just like Gold, Bitcoin will prove to be a reliable store of value anyone can use to protect themselves against the negative effects of inflation. CBDCs (digital Fiat currencies) won't pose a threat to Bitcoin no matter how you see them thrive in the mainstream world. There will be a separation between the centralized world of banks and the decentralized world of crypto/Blockchain tech.

The fact that the US and other countries are announcing the creation of their own digital currencies, means that Bitcoin has already won the war. Governments had no choice but to do this to help prevent Bitcoin from taking over the world. It doesn't matter if Bitcoin never becomes the world's reserve currency, as long as it stays true to its core values of decentralization and censorship-resistance. Just my thoughts

[witcher_sense]

I don't see how and why a government would allow cryptocurrencies to overtake its own currency as the medium for exchange for goods and services within the global economy.  There are many reasons for this. However the idea of allowing the Government Currency to hedge against BTC is an interesting idea.  We would be going back to the days before the FED was created.   

We all have become so accustomed to permissioned forms of money - government-issued money - that it became almost impossible for us to conceive of a world based on a permissionless system where all interactions between individuals can be conducted without the violent interventions of those who have power. Yet, with the invention of the bitcoin decentralized system, we are getting closer and closer to a world where governments and money are separated, which means no single entity will have the power to dictate economic course or to print up money out of thin air for no cost to enrich whoever is close to that printer. The main reason why bitcoin may succeed in helping people to throw off the shackles of the system based on fiat money is that it is completely out of reach for those having power: no matter how wealthy you are or how many friends in high places you have, you won't be able to take away bitcoin from people holding their own private keys, you won't dilute their savings, and you won't enslave them by selling empty promises. People didn't ask for the government's permission to generate a random number, they will also not ask for permission to send these numbers to whoever they want because a decentralized system incentives people to behave in a decentralized way.

[Abiky]

We all have become so accustomed to permissioned forms of money - government-issued money - that it became almost impossible for us to conceive of a world based on a permissionless system where all interactions between individuals can be conducted without the violent interventions of those who have power. Yet, with the invention of the bitcoin decentralized system, we are getting closer and closer to a world where governments and money are separated, which means no single entity will have the power to dictate economic course or to print up money out of thin air for no cost to enrich whoever is close to that printer. The main reason why bitcoin may succeed in helping people to throw off the shackles of the system based on fiat money is that it is completely out of reach for those having power: no matter how wealthy you are or how many friends in high places you have, you won't be able to take away bitcoin from people holding their own private keys, you won't dilute their savings, and you won't enslave them by selling empty promises. People didn't ask for the government's permission to generate a random number, they will also not ask for permission to send these numbers to whoever they want because a decentralized system incentives people to behave in a decentralized way.

With CBDCs on the brink of becoming a reality, I think the hopes of Bitcoin "ruling" the world will be long gone. That's because governments will never allow a decentralized cryptocurrency to take away their power over people's finances. The new Digital Dollar will give the US more power than ever, as it will be able to have complete control over each transaction performed on the ledger. Not only will the FED and the US government be able to freeze or control access to your money, but they will also be able to have a complete overview of your spending habits. Everything will be visible by these entities, putting an end to privacy for good.

Don't except them to be friendly towards Bitcoin and other cryptocurrencies, especially when they'd want to force people to use their "new digital cash system". Bitcoin will survive thanks to its decentralized and censorship-resistant design, but not many people will use it because they will be afraid of government's intervention. There's a dark future ahead of us, so we should be prepared for the worst. Just my opinion

[Vzae]

I can't judge this as a threat to bitcoin. CBDC won't change overnight, USD CBDC might launch successfully and nothing can stop it but it won't pose any threat at all to bitcoin.

[$anounimus$]

I think considering digital dollars as a complement to cryptocurrencies rather than as a challenge. Digital dollars are more traceable, more centralized, and easier to cash out by governments compared to bitcoin.

This could make it more attractive in some ways to consumers who prioritize these features. It is also possible that people will use one or both types of currency depending on their preferences, needs, and concerns.

Simply don't be too discouraged that the government will soon have its own digital dollar; this could eventually prove to be a good thing for crypto enthusiasts.

[8rch7]

I can't judge this as a threat to bitcoin. CBDC won't change overnight, USD CBDC might launch successfully and nothing can stop it but it won't pose any threat at all to bitcoin.

I also strongly agree with your opinion, although digital dollars are managed directly by the government and the government also plans to use digital dollars as a tool to eliminate bitcoin, but I firmly believe digital dollars will never be able to compete with bitcoin, which certainly digital dollars will not at all become a threat to bitcoin, so I never thought bitcoin could be defeated by digital dollars issued by the government.

[Davidvictorson]

There is a place for the dollar despite it numerous problems and personally, I think that a digital dollar is the worst idea out there especially if the motivation is to topple bitcoin instead of making it work along side. My fear is that once the government has control of your currency again especially in through CBDC, they can cut you off or take it all at the push of a button. Additionally, the idea that the government would create a digital currency for free is absurd and naive.

[BinarySumo]

I don’t think so. People view Bitcoin as an investment. And I think, dollar has its own value. People who are not comfortable with bitcoin or don’t know what it is would be more interested in the digital dollar.

[MainIbem]

When you talks of Digital Dollar what first came into your mind, to me is sounds as a stable coin (CBDC) that can be controlled by government this doesn't have affiliate with bitcoin and in no cost should it be a treat to bitcoin. CBDC can't be compared with Bitcoin outside that government has no control over bitcoin so I don't think this case will affect bitcoin progression or affect its price as per say. Note that bitcoin is valuable assets where people has placed their investment.

[trendcoin]

The digital dollar cannot be a threat to Bitcoin. At least if I speak for myself, the digital dollar cannot be "absolutely" a threat to Bitcoin.

Bitcoin is not "only" a digital asset, it is also a store of value. The digital dollar will remain dominated by the Fed and will likely have a centralized structure. Bitcoin will not suffer from inflation pressure and will have a decentralized structure. Digital "dollar, euro, dinar, lira, peso" will never be a competitor to Bitcoin for me.

[wiss19]

There is a place for the dollar despite it numerous problems and personally, I think that a digital dollar is the worst idea out there especially if the motivation is to topple bitcoin instead of making it work along side. My fear is that once the government has control of your currency again especially in through CBDC, they can cut you off or take it all at the push of a button. Additionally, the idea that the government would create a digital currency for free is absurd and naive.

Anyone who is fine using CBDC should be fine using regular dollar as well, that's the difference. We may dislike it as much as we want but when you look at the rankings you see USDT and USDC and BUSD being so high right now, meaning there is a good chance that people who use those stablecoins and invested over 100+ billion dollars into just those three (there are also other stablecoins combined makes it 200+ billion) that means we are going to see government ones to make some noise as well.

It's not going to be that easy, it's not going to be simple, but it's going to be something that we can live with in the long term for sure and we will see it hyped up eventually.

[Piesel]

I don't see how and why a government would allow cryptocurrencies to overtake its own currency as the medium for exchange for goods and services within the global economy.  There are many reasons for this. However the idea of allowing the Government Currency to hedge against BTC is an interesting idea.  We would be going back to the days before the FED was created.   

The fact is the topic title is misleading and the information in the post has a different view and statements that do not collide with the topic title.

The thread is about United regulation on the energy consumption of Bitcoin proof of work algorithm while the topic title point to a direction of the digital dollar being a threat to bitcoin and other decentralized currencies.

But then we are talking of regulations again where we seek to demystify what will become of proof of work algorithm if it is regulated, but we should also know that there is already an alternative source of energy which is the less expensive and self-generated source as solar power and other clean energy.

[Gyfts]

Isn't this question also for various other CBDCs?
We can see from the digital dollar function itself. is a legal tender. And became the benchmark currency in most countries in the world. But Bitcoin, this not only applies as a currency, but also has value and trust to be something worth investing in. While the dollar, no. This is what makes Bitcoin most likely not to be disturbed by the digital dollar.

Digitalized dollars are basically CBDC's. Idea is to get rid of paper based cash and force people to rely on a central authority for digitalized funds. It allows the central authority to revoke the funds at any time or disallow users to spend the funds (ie freeze accounts).

Bitcoin isn't inherently threatened by CBDC's because they don't operate the same. That being said, the indirect threat exists because government will never cease to act on an opportunity to regulate Bitcoin into the ground while propping up their own useless currencies riddled with inflation and inept central bank control

I'd be worried if I were you.

CBDC is just one of the latest waves making headlines in most countries who don't want to fully accept crypto currency. Digital dollar is same as CBDC. Although, the idea of which it operates on shares a digital similarity with cryptocurrency, in that both ensures the user carries less cash around, can buy or sell through a digital device from anywhere in the world with an internet access, also one can easily convert currencies to suit demand. It is sure going to aid curb inflation, and reduce offline crime. However, more awareness need be created by recognized sponsors to expose scamming theatrics and provide online security for users who have been able to adopt CBDC fully.

To be clear, I don't think cashless appeal is the only reason why the government's involved in CBDC's. Most people don't carry cash anyways and the government reserves the right to withhold funds from your bank account if they wish. CBDC's make it a whole lot easier to control the money supply, and presumably it shifts more power to the government without having to use private banks as intermediaries.

As I mentioned before, the government would not hesitate to use CBDC's as a cudgel against crypto so it only serves to benefit them. Average consumer has no use for them.

[yhiaali3]

The digital dollar can succeed in the United States. The United States has huge capabilities and a very developed infrastructure for the success of this project. In my opinion, all governments will eventually be forced to issue their own digital currency to keep pace with the rapid development in this era, but the question is whether the digital dollar can affect or overcome on bitcoin? The answer, in my opinion, is absolutely no, neither the digital dollar nor any other central currency will be able to exclude Bitcoin.

[Mauser]

   Do you think with the level of civilization in the united states, that the digital dollar will be successful?

I do think that the digital Dollar is going to be only moderately successful, similar to the digital Euro. These digital currencies are not in a direct competition with Bitcoins and other crypto currencies in my opinion, rather competing against other Fiat currencies. The main idea behind cryptos is to not be influenced by governments and be independent from national central banks. With the digital Dollar this is not the case, it's another from of the Dollar that is controlled by the FED. As long as politicians can decide to print money freely there won't be crypto investors switching into that currency. Another factor that is making the digital dollar less successful is that the world is trying to move away from the US Dollar as the number one reserve currency. Most of the international trade is still being settled in USD, which creates some demand for the digital Dollar, but the world is moving more and more into bilateral trade bypassing the dollar.

[Abiky]

To be clear, I don't think cashless appeal is the only reason why the government's involved in CBDC's. Most people don't carry cash anyways and the government reserves the right to withhold funds from your bank account if they wish. CBDC's make it a whole lot easier to control the money supply, and presumably it shifts more power to the government without having to use private banks as intermediaries.

As I mentioned before, the government would not hesitate to use CBDC's as a cudgel against crypto so it only serves to benefit them. Average consumer has no use for them.

What governments want is full control over the monetary system. And the only way to do this is by launching a digital currency of their own. Once the new system is up and running, people will no longer have privacy over their finances. Everything will be visible by both the central bank and the government on a distributed digital ledger only they can control. It's the perfect kind of money for a totalitarian/surveillance state.

I don't see how this would work well in a democratic country like the US, since this takes away people's freedom and privacy. The emergence of the digital dollar or Euro won't be a direct threat against Bitcoin, but it will have some impact on Bitcoin's mainstream adoption. It's likely more people will join government-backed digital currencies while leaving Bitcoin behind in the dust. You can expect government propaganda and misinformation in order to prevent as much people as possible from using Bitcoin. We shouldn't be worried about this as long as Bitcoin remains decentralized. Just my thoughts

[inthelongrun]

Well, many CBDCs are already expected to launch. They are coming and it is normal because the world is turning digital. The digital dollar of the United States will be successful of course. But is this a threat to bitcoin? It is simple, the digital dollar is the same fiat inflationary centralized money while bitcoin is secure and decentralized. Maybe the question should be made the opposite because bitcoin is the real threat to this old centralized fiat system.

[EarnOnVictor]

When the Government will make a Digital Dollar It must be blockchain based.  And it will run on blockchain technology . Which Bitcoin has been using since 13 years ago. So when these digital dollars are created and released in the market, people will start to learn more about blockchain and people will become more interested in Bitcoin. So I think this will be a positive point for Bitcoin rather than a challenge for Bitcoin

The US government is being careful, which is why the digital USD has not been established yet. This might be a blockchain or another project, but either way, it would be a centralized project, and it will not be able to compare itself with Bitcoin which is decentralised. It will only wreck some online fiat payment systems if care is not taken because the US government would have given individuals the right to own their digital dollar that would be backed by the Federal Reserve.

[Odusko]

Well, many CBDCs are already expected to launch. They are coming and it is normal because the world is turning digital. The digital dollar of the United States will be successful of course. But is this a threat to bitcoin? It is simple, the digital dollar is the same fiat inflationary centralized money while bitcoin is secure and decentralized. Maybe the question should be made the opposite because bitcoin is the real threat to this old centralized fiat system.

There is a tin line between digital currencies (CBBC) and Bitcoin because Bitcoin plays multiple roles in the financial system, but the digital dollar is stable and not in the class of asset, while Bitcoin can be used as an alternative to the dollars, and also an asset the digital dollar, on the other hand, can only be used as a currency.
So instead digital dollar is a threat to Bitcoin I will say the reverse is the case but in this situation, it is a win-win since both the digital dollar and Bitcoin can co-exist

[Agbe]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

It will not be a threat to bitcoin because bitcoin is not  not competing with dollar, but I believe some countries are affraid to adopt bitcoin because of the dominant nature of it. The digital dollar will make things easier for bitcoin users because it will make transaction more easily. Many countries have already launched or created digital currency but most of them are not working. Citizens are not even using them to do any transaction. So they become redundant in the ecosystem. The existence of the digital dollar will be achieved but the different is always clear. Dollar is centralized system of service while bitcoin has a decentralized system of operation so there are of different uses.  
Like the Nigerian Enaira, since when it was launched I have not even open the app to see how it works but I only heard that there is Enaira but I am not using it. This case might different from dollar because dollar. But the number of users of bitcoin will still supersede dollar.

[Abiky]

Well, many CBDCs are already expected to launch. They are coming and it is normal because the world is turning digital. The digital dollar of the United States will be successful of course. But is this a threat to bitcoin? It is simple, the digital dollar is the same fiat inflationary centralized money while bitcoin is secure and decentralized. Maybe the question should be made the opposite because bitcoin is the real threat to this old centralized fiat system.

You can say that again. Bitcoin is really the threat of the digital dollar. Not the other way around. Governments (including the US) are afraid Bitcoin will take over the global economy, urging them to launch CBDCs of their own before they're left behind in the dust. I'd say they will succeed with the launch of the new digital cash system, but they will be unable to "defeat" Bitcoin because of its decentralized and censorship-resistant design.

In fact, I think CBDCs will be beneficial towards Bitcoin because they will increase awareness of digital currencies all around the world. People who haven't heard of or used crypto before, will get into Bitcoin when they hear paper money will be phased out of existence for good. Now the question would be whenever the USD will be able to retain its place as the reserve currency of the world right after it becomes a CBDC or fall all the way down the drain. If the US quickly launches its own CBDC system, then it's likely the US Dollar's position will remain unchanged. But be aware that China has already been the pioneer in CBDCs, launching the "Digital Yuan" before anyone else. It's a highly-competitive world out there, but at least we can be sure Bitcoin won't be going anywhere soon. Just my thoughts

[Minor Miner]

Well, many CBDCs are already expected to launch. They are coming and it is normal because the world is turning digital. The digital dollar of the United States will be successful of course. But is this a threat to bitcoin? It is simple, the digital dollar is the same fiat inflationary centralized money while bitcoin is secure and decentralized. Maybe the question should be made the opposite because bitcoin is the real threat to this old centralized fiat system.

There is a tin line between digital currencies (CBBC) and Bitcoin because Bitcoin plays multiple roles in the financial system, but the digital dollar is stable and not in the class of asset, while Bitcoin can be used as an alternative to the dollars, and also an asset the digital dollar, on the other hand, can only be used as a currency.
So instead digital dollar is a threat to Bitcoin I will say the reverse is the case but in this situation, it is a win-win since both the digital dollar and Bitcoin can co-exist

I really don't want to think that bitcoin is going to be a threat to fiat or the dollar, to be honest this is not good for bitcoin. It is this thinking that has led the government to be wary of bitcoin and even they are seeing bitcoin as an enemy, seeking to eliminate bitcoin from our lives. We still live in a world where the government is still controlling us, so don't try to fight them, bitcoin gives us freedom so we should take advantage of it, not show the government that bitcoin will replace their power. I like to think that the two will co-exist and be able to support each other.

[NicNacCoin]

Digital Dollar will not be a threat to Bitcoin at all. Earlier we saw that China launched its own currency but Bitcoin was not harmed.From here we can say that there will be no loss for Bitcoin no matter which currency it comes to.Those who will use bitcoins will not leave and use bitcoins in whatever currency they come in And even if the digital dollar comes, it can be beneficial for our Bitcoin, as if the transaction system is launched with Bitcoin, it will definitely be beneficial for Bitcoin.

[YellowWitty1]

No. Digital dollar is like a fiat currency that is only digital. It’s not a long-term investment like Bitcoin. Plus, Bitcoin has additional advantages over dollars. Dealing in bitcoins is more secure.

[Questat]

Both of them are in digital form, and this gives an option for the people which one to choose. As you can see, there is no threat to existing as it remains these two are just a sort of payment option to where people like to use it depending on the availability. In fact, we can't even say that ETH and other cryptocurrencies are a threat to Bitcoin also knowing that they all have their market role to play just like the digital dollar.

We also have Digital Yuan, it is to see that many countries will do the same creating their local currency in digital form just to give convenience to their netizens as well.

[inthelongrun]

Well, many CBDCs are already expected to launch. They are coming and it is normal because the world is turning digital. The digital dollar of the United States will be successful of course. But is this a threat to bitcoin? It is simple, the digital dollar is the same fiat inflationary centralized money while bitcoin is secure and decentralized. Maybe the question should be made the opposite because bitcoin is the real threat to this old centralized fiat system.

You can say that again. Bitcoin is really the threat of the digital dollar. Not the other way around. Governments (including the US) are afraid Bitcoin will take over the global economy, urging them to launch CBDCs of their own before they're left behind in the dust. I'd say they will succeed with the launch of the new digital cash system, but they will be unable to "defeat" Bitcoin because of its decentralized and censorship-resistant design.

In fact, I think CBDCs will be beneficial towards Bitcoin because they will increase awareness of digital currencies all around the world. People who haven't heard of or used crypto before, will get into Bitcoin when they hear paper money will be phased out of existence for good. Now the question would be whenever the USD will be able to retain its place as the reserve currency of the world right after it becomes a CBDC or fall all the way down the drain. If the US quickly launches its own CBDC system, then it's likely the US Dollar's position will remain unchanged. But be aware that China has already been the pioneer in CBDCs, launching the "Digital Yuan" before anyone else. It's a highly-competitive world out there, but at least we can be sure Bitcoin won't be going anywhere soon. Just my thoughts

Right mate. Visa, Mastercard, and there's Paypal and the online industry is becoming a norm with stores like Amazon and eBay becoming huge but we haven't heard of any governments creating CBDCs. CBDCs only came up serious when Bitcoin and some of the top altcoins like Ethereum became big from millions to billions and then they just continue to grow bigger reaching into a trillion-dollar industry. Governments and banks tried to stop the growth of Bitcoin before but to no avail. Big companies are starting to realize the value and potential and they are also starting to adopt. So someone tells us if Bitcoin is not a threat to this old inflationary centralized monetary system?

Bitcoin leads to the creation of CBDCs. And you're right mate, CBDCs can remain as primary currencies in this growing digital world but they also exposed their citizens to Bitcoin and crypto. Sooner or later, more and more people realized the importance of privacy and most especially the limited supply of Bitcoin compared to the unlimited fiat supply. The weakening of the US dollar's influence on the world market due to Chinese competition and the current arms race and mobilizations lead people to just select a decentralized currency like Bitcoin since it is not directly affected by politics.

[dlightag]

We are the Era of technology and information, which government are still in process to regulate cryptocurrency as a means of digital assets payment, which is applicable to digital dollar to Bitcoin that coming to a gradually process to reality as a means of word global digital assets not only in USA.

[eddie.gouws]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

There is no doubt that digital dollars pose a threat to bitcoin, as they offer all of the same benefits (anonymity, security, and lack of government control) while also being backed by established governments. This gives them an advantage over bitcoin in terms of trustworthiness and stability.

That said, there are some advantages that bitcoin has over digital dollars that could keep it afloat in the long run. These include its faster transaction times and lower fees. So it's likely that both currencies will continue to exist side-by-side in the coming years. As for how this will play out for online gambling sites like Stake Casino US, only time will tell!

[Ziskinberg]

I'd see nothing like that OP.
People love the new technology where digitalization comes to a realization. Bitcoin is another form of digital currency, the same as digital dollars, but what do we call these ATMs? Are they still a threat to Bitcoin or vice versa? They are not killing each other which we can say was a threat but consider this an option and as an opportunity for all of us to live to have them. It was already been expected that the government will create their own digital currency but this never mean it theaten Bitcoin. They have their purpose and it remains as an alternative option other than paper money.

[Antonas1]

I think CBDC will be an electronic money only. Just to simplify transactions, cross-border payments, toll and parking payments, and taxes. There is no different with paper money except digital form. They say that CBDCs are safer than cryptocurrencies, but they use blockchain technology which has been the core of cryptocurrencies, and they are forgetting that nothing is safe in cyberspace.

[Doan9269]

I think CBDC will be an electronic money only. Just to simplify transactions, cross-border payments, toll and parking payments, and taxes

Nothing is being made simplified here as long as it is CBDC it is thesame fiat and you cannot compare fiat with bitcoin by any means, no transaction is simplified yet with CBDC, and why we left fiat was because of one of its major inconveniences on cross boarder transactions chaeges, scalability challenges, and many more, no body ehoy is into bitcoin will wanted to go back with the centralized financial institutions only to embrace KYC and regulations unfavourable to holders of the currency, this makes bitcoin serves the solution to what the people needs.

They say that CBDCs are safer than cryptocurrencies

This may applies to other cryptocurrencies often regarded as altcoins and not with bitcoin

but they use blockchain technology which has been the core of cryptocurrencies, and they are forgetting that nothing is safe in cyberspace.

If you never experience safety before with the cyber digital world then try and have an ex with bitcoin and see if your privacy, security, anonymity and many other relevant financial indications won't be meant and secured, don't bebtoo involved with fiat such that all your trust rely on them, if you ever had their bad experience then you will drastically effect a change in your decision and approach towards them.

[Antonas1]

I think CBDC will be an electronic money only. Just to simplify transactions, cross-border payments, toll and parking payments, and taxes

Nothing is being made simplified here as long as it is CBDC it is thesame fiat and you cannot compare fiat with bitcoin by any means, no transaction is simplified yet with CBDC, ~

The phrase "Just to simplify the transaction" it means to make easy the way they transact.

~

If you never experience safety before with the cyber digital world then try and have an ex with bitcoin and see if your privacy, security, anonymity and many other relevant financial indications won't be meant and secured, don't bebtoo involved with fiat such that all your trust rely on them, if you ever had their bad experience then you will drastically effect a change in your decision and approach towards them.

I think you misunderstood my answer (which you replied to). I don't think CBDC is better than Bitcoin or other cryptocurrency/altcoins,  I said CBDC can't be different with other electronic money. Please read it again.

[tjtonmoy]

Do you think with the level of civilization in the united states, that the digital dollar will be successful?

BTC is freedom. Decentralized and stealth. Many people who are engaged to BTC will never use something like Digital dollar issued by government. That will be centralized and with that you loose the freedom of what comes with BTC and also blockchain support.
Keeping your identity hidden and not share those are the key factor in BTC.
We will keep pushing until BTC becomes legalized all over the world. Digital dollar is nothing compare to BTC.
Wait for the day till it happens.

Personally i won't use this. I strongly prefer BTC

[lixer]

The economy is moving towards digitization. Digital dollar is just another way of digital payment. A lot of countries have released their own digital dollars. But they do not provide the benifits of Bitcoin. They  are not an asset, but just a storehouse of value..while Bitcoin is a free market asset.

Don't forget that bitcoin is also a currency other than being an asset. Digital dollar can be use an alternative to bitcoin in terms of currency use. They are stable and perfect for those who get annoyed in the volatility of btc when making a transaction. Digital dollar has their own value but they are not a store of value because they are not like btc which you can put more money in it.

The only problem with btc is that its value can sometimes dump hard but the real definition of store of value is that assets that don't depreciate in value. Btc can recover if given enough time, I think this is the reason why they insist that btc is a store of value.

[freedomgo]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

It will not be a threat to bitcoin because bitcoin is not  not competing with dollar, but I believe some countries are affraid to adopt bitcoin because of the dominant nature of it. The digital dollar will make things easier for bitcoin users because it will make transaction more easily. Many countries have already launched or created digital currency but most of them are not working. Citizens are not even using them to do any transaction. So they become redundant in the ecosystem. The existence of the digital dollar will be achieved but the different is always clear. Dollar is centralized system of service while bitcoin has a decentralized system of operation so there are of different uses.  
Like the Nigerian Enaira, since when it was launched I have not even open the app to see how it works but I only heard that there is Enaira but I am not using it. This case might different from dollar because dollar. But the number of users of bitcoin will still supersede dollar.

Yes, I do agree with you on this. Bitcoin has never in competition with any currency out there even if each respective countries will launch their own digital currencies, bitcoin will still be alive and growing because of its utilities, and most of all, people will still seek bitcoin because it is decentralized. I believe bitcoin is more of a threat to the US dollar than the other way around.

[Maidak]

Do you think with the level of civilization in the united states, that the digital dollar will be successful?

BTC is freedom. Decentralized and stealth. Many people who are engaged to BTC will never use something like Digital dollar issued by government. That will be centralized and with that you loose the freedom of what comes with BTC and also blockchain support.
Keeping your identity hidden and not share those are the key factor in BTC.
We will keep pushing until BTC becomes legalized all over the world. Digital dollar is nothing compare to BTC.
Wait for the day till it happens.

Personally i won't use this. I strongly prefer BTC

Digital dollars are no different from today's dollars, they are basically centralized and controlled by the government, they just differ in how they are used. If you are using paper dollars for daily use then your use of digital dollars will remain the same and nothing will change. Bitcoin and digital dollars don't have any competition here, don't get confused. Bitcoin legalization is up to the government, not us, if they see it as a real threat then I think the chances of continuing to use it are slim. So don't put both on the scale when both are usable and exist in parallel.

[Hamza2424]

First of all, i can't understand the term you called digital dollar as is it mean the USDT or something else or its USD? There is nothing here which can be a threat to the BTC dominance I heard a very well know proverb as strong the USD is going to be, the future for the BTC is going to be that brighter. I would be great if all of the USD capital is converted into BTC imagine the BTC worth ...

[Odusko]

First of all, i can't understand the term you called digital dollar as is it mean the USDT or something else or its USD? There is nothing here which can be a threat to the BTC dominance I heard a very well know proverb as strong the USD is going to be, the future for the BTC is going to be that brighter. It would be great if all of the USD capital is converted into BTC imagine the BTC worth ...

I was also confused with the word used there, but I think what ops mean is United state government approved CBDC which will represent the united state dollar on the blockchain.
But if you will also recall, it has always been that most of the CBDCs are not run on the blockchain because of that. CBDC becomes highly centralized and with loads of limitations to its functionality and is subject to inflation.

[Abiky]

Right mate. Visa, Mastercard, and there's Paypal and the online industry is becoming a norm with stores like Amazon and eBay becoming huge but we haven't heard of any governments creating CBDCs. CBDCs only came up serious when Bitcoin and some of the top altcoins like Ethereum became big from millions to billions and then they just continue to grow bigger reaching into a trillion-dollar industry. Governments and banks tried to stop the growth of Bitcoin before but to no avail. Big companies are starting to realize the value and potential and they are also starting to adopt. So someone tells us if Bitcoin is not a threat to this old inflationary centralized monetary system?

Bitcoin leads to the creation of CBDCs. And you're right mate, CBDCs can remain as primary currencies in this growing digital world but they also exposed their citizens to Bitcoin and crypto. Sooner or later, more and more people realized the importance of privacy and most especially the limited supply of Bitcoin compared to the unlimited fiat supply. The weakening of the US dollar's influence on the world market due to Chinese competition and the current arms race and mobilizations lead people to just select a decentralized currency like Bitcoin since it is not directly affected by politics.

Bitcoin is what has forced governments to explore the creation of "Central Bank Digital Currencies" (CBDCs for short). If it wasn't because of Bitcoin, CBDCs wouldn't have passed through the minds of government officials and bankers alike. The reason why they're doing this is because they're afraid Bitcoin will displace the USD or any other national currency, due to its decentralized and censorship-resistant design. You can bet people would've completely abandoned Fiat in favor of Bitcoin as digital payments are faster, cheaper, and more friendly to the environment than just printing paper money.

Now that governments have decided to go ahead with the launch of CBDCs, they will be able to be remain at a competitive level against Bitcoin. National digital currencies won't pose a direct threat against Bitcoin, simply because they're centralized by design. What they will do is increase adoption of crypto/Blockchain tech as people become more digitally-native. The US Digital Dollar isn't even under development (as far as I know), so we have plenty of time to enjoy paper money while it lasts. Just my opinion

[harapan]

Right mate. Visa, Mastercard, and there's Paypal and the online industry is becoming a norm with stores like Amazon and eBay becoming huge but we haven't heard of any governments creating CBDCs. CBDCs only came up serious when Bitcoin and some of the top altcoins like Ethereum became big from millions to billions and then they just continue to grow bigger reaching into a trillion-dollar industry. Governments and banks tried to stop the growth of Bitcoin before but to no avail. Big companies are starting to realize the value and potential and they are also starting to adopt. So someone tells us if Bitcoin is not a threat to this old inflationary centralized monetary system?

Bitcoin leads to the creation of CBDCs. And you're right mate, CBDCs can remain as primary currencies in this growing digital world but they also exposed their citizens to Bitcoin and crypto. Sooner or later, more and more people realized the importance of privacy and most especially the limited supply of Bitcoin compared to the unlimited fiat supply. The weakening of the US dollar's influence on the world market due to Chinese competition and the current arms race and mobilizations lead people to just select a decentralized currency like Bitcoin since it is not directly affected by politics.

Bitcoin is what has forced governments to explore the creation of "Central Bank Digital Currencies" (CBDCs for short). If it wasn't because of Bitcoin, CBDCs wouldn't have passed through the minds of government officials and bankers alike. The reason why they're doing this is because they're afraid Bitcoin will displace the USD or any other national currency, due to its decentralized and censorship-resistant design. You can bet people would've completely abandoned Fiat in favor of Bitcoin as digital payments are faster, cheaper, and more friendly to the environment than just printing paper money.

Now that governments have decided to go ahead with the launch of CBDCs, they will be able to be remain at a competitive level against Bitcoin. National digital currencies won't pose a direct threat against Bitcoin, simply because they're centralized by design. What they will do is increase adoption of crypto/Blockchain tech as people become more digitally-native. The US Digital Dollar isn't even under development (as far as I know), so we have plenty of time to enjoy paper money while it lasts. Just my opinion

So what difference between the physical money and digital dollar, there is no difference between them if you check, they are both controlled by government and also regulated by government.they determine the total number you can hold and also get at a particular time is that what bitcoin does, no. Bitcoin gives you a chance to send Bitcoin to a user in another country but the digital dollar can only be used in places where they bare also accepted. The dollar won't be an hindrance to Bitcoin it is just that people are too dull to do research on the person benefits bitcoin give's and the bad sides of what digital dollar give's them, all they care is to have money to solve problems for themselves.

[tygeade]

Visa, Mastercard, and there's Paypal and the online industry is becoming a norm with stores like Amazon and eBay becoming huge but we haven't heard of any governments creating CBDCs. CBDCs only came up serious when Bitcoin and some of the top altcoins like Ethereum became big from millions to billions and then they just continue to grow bigger reaching into a trillion-dollar industry. Governments and banks tried to stop the growth of Bitcoin before but to no avail. Big companies are starting to realize the value and potential and they are also starting to adopt. So someone tells us if Bitcoin is not a threat to this old inflationary centralized monetary system?

I believe that it wasn't a big thing because there wasn't a technology behind it until now, there is one now called blockchain. Visa and Mastercard and Paypal did not use a technology that was unavailable, they used one that was already there, which is servers, and they believed that they could definitely store it safer than anyone else and allowed people to use it, governments could 100% replicate what they have done, they just didn't want to take that risk of servers getting hacked or any other trouble. Meanwhile, blockchain is a new technology and that is why it's definitely much better, and that is why governments are looking into it a lot more now.

[GonnaGrinditout]

The banking system is behind most of the cryptocurrencies. They want to familiarize us with crypto, it is the first step to make us accept the CBDCs, which was always the plan. I already hear many crypto libertarians saying:  "I use USDT because it's more convenient, the value is stable" 

[Abiky]

The banking system is behind most of the cryptocurrencies. They want to familiarize us with crypto, it is the first step to make us accept the CBDCs, which was always the plan. I already hear many crypto libertarians saying:  "I use USDT because it's more convenient, the value is stable" 

You really think banks are behind crypto? If they were behind crypto, they wouldn't had been against it in the first place. Their response of launching CBDCs of their own, tells us they're afraid Bitcoin will take over the mainstream economy. If they don't do the move, people will simply abandon Fiat for Bitcoin. With the introduction of CBDCs like the Digital Dollar and the Digital Euro, banks will be able to stay in power for a little while.

In fact, CBDCs will give banks and governments more power than usual as they will be able to have a full scope of people's finances. Every transaction will be visible on a digital ledger only they can control. They can't do that with traditional paper money, though. For the end user, the Digital Dollar would work almost exactly the same as credit/debit cards. The person won't notice any difference at all (except banks). Bitcoin's been going strong since day one, so it's likely it'll live alongside the US Digital Dollar for generations. Just my thoughts

[GonnaGrinditout]

The banking system is behind most of the cryptocurrencies. They want to familiarize us with crypto, it is the first step to make us accept the CBDCs, which was always the plan. I already hear many crypto libertarians saying:  "I use USDT because it's more convenient, the value is stable" 

You really think banks are behind crypto? If they were behind crypto, they wouldn't had been against it in the first place. Their response of launching CBDCs of their own, tells us they're afraid Bitcoin will take over the mainstream economy. If they don't do the move, people will simply abandon Fiat for Bitcoin. With the introduction of CBDCs like the Digital Dollar and the Digital Euro, banks will be able to stay in power for a little while.

In fact, CBDCs will give banks and governments more power than usual as they will be able to have a full scope of people's finances. Every transaction will be visible on a digital ledger only they can control. They can't do that with traditional paper money, though. For the end user, the Digital Dollar would work almost exactly the same as credit/debit cards. The person won't notice any difference at all (except banks). Bitcoin's been going strong since day one, so it's likely it'll live alongside the US Digital Dollar for generations. Just my thoughts

Bitcoin is a dream currency for law enforcement. You can trace everything on the blockchain and forever. CBDCs won't change anything in this regard.

[cr1776]

...
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

If you like a centralized, reversible, censorable, seizable, non-pseudoanonymous, inflationary currency who's value is set by whim, then the digital dollar will succeed.  

If you want to preserve your wealth and freedom, then you won't view bitcoin and the digital dollar as anything similar except that they both are "digital".

[CryptoHeadlineNews]

The banking system is behind most of the cryptocurrencies. They want to familiarize us with crypto, it is the first step to make us accept the CBDCs, which was always the plan. I already hear many crypto libertarians saying:  "I use USDT because it's more convenient, the value is stable" 

I guess you are totally wrong on this statement of yours, because the banking system has never been behind any cryptocurrency, nor owned any cryptocurrency. But if what you meant is that banks are behind all Central Bank Digital Currency "CBDC" just like the digital rupee & E-naira, then it's agreeable, because there is a huge difference between these two.
CBDC are the digital form of a nation currency built on the blockchain to enable easy transaction, controlled by its central bank and the government. And secondly,  USDT is not a CBDS but a stable cryptocurrency pegged to the American digital dollar

[Casdinyard]

Both have different use-cases so I don't think Digital Dollar will be a threat to bitcoin or vice versa. Bitcoin caters to the ones who want to save their money from inflation and/or are looking for peerless transaction across countries and borders with minimal to no trouble. Digital Dollar I suppose will be exclusively used as a form of online payment much like how digital payments are made today, only except you may need to top up or something in order to get a hold of it.

The banking system is behind most of the cryptocurrencies. They want to familiarize us with crypto, it is the first step to make us accept the CBDCs, which was always the plan. I already hear many crypto libertarians saying:  "I use USDT because it's more convenient, the value is stable" 

I guess you are totally wrong on this statement of yours, because the banking system has never been behind any cryptocurrency, nor owned any cryptocurrency. But if what you meant is that banks are behind all Central Bank Digital Currency "CBDC" just like the digital rupee & E-naira, then it's agreeable, because there is a huge difference between these two.
CBDC are the digital form of a nation currency built on the blockchain to enable easy transaction, controlled by its central bank and the government. And secondly,  USDT is not a CBDS but a stable cryptocurrency pegged to the American digital dollar

Matey couldn't be any farther from the truth. Most cryptocurrencies in the market aren't regulated by any central authority which is why some superpowers like China are opposed against usage of it. And even if they do want to familiarize us with crypto because they are behind it in the first place, I don't see the point of creating another currency instead of just backing the biggest cryptocurrency in the market right now.

[roslinpl]

Some people was using USDT,when the market was started to reduce the value.Bitcoin is the best crypto currency in the market.Now the market pump back to 20k dollars.This prove the legitimate of bitcoin while compared to other crypto currency.When the bitcoin price was started to increase,you should not do immediate transaction to Usdt.Instead you should wait till the maximum rise in the price of bitcoin and convert when the bitcoin started to dump again.

[Twentyonepaylots]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

Since many individuals view Bitcoin as an investment or asset rather than a payment method that can compete with the established ones offered by centralized platforms, like Visa and Mastercard, it won't be a complete threat to Bitcoin. As an investment and tradable asset, Bitcoin will continue to have high liquidation. It is also important to note that businesses that take Bitcoin do so because they believe in the concept of a decentralized means of exchange.

[amihada]

Bitcoin is not affected by other alcoins including digital dollars, meaning I always see the bitcoin market as a benchmark for other alcoin prices, for example when the price of bitcoin goes down, the price of alcoin will also go down and vice versa.

[Abiky]

If you like a centralized, reversible, censorable, seizable, non-pseudoanonymous, inflationary currency who's value is set by whim, then the digital dollar will succeed.  

If you want to preserve your wealth and freedom, then you won't view bitcoin and the digital dollar as anything similar except that they both are "digital".

Most people won't get out of the "Digital Dollar" because of convenience. After all, we cannot deny the fact that the USD has greater adoption worldwide than Bitcoin itself. I don't think that the US Dollar would pose a direct threat to Bitcoin after it becomes fully digital. On the contrary, it will benefit Bitcoin as more people will become aware of digital payments. The US government could decide to launch a new CBDC from scratch or simply use an existing stablecoin like USDC or USDT (Tether).

I think the "Digital Dollar" would be worse than its predecessor (US Dollars in physical form), simply because it will strip away people's privacy and freedom. Every transaction you make with the "Digital Dollar" would be publicly visible by both the government and the FED. Bitcoin transactions are also visible, but public addresses aren't directly linked to your identity. If you're careful enough to prevent exposing your identity, then Bitcoin does wonders in protecting your privacy and financial freedom. The US Digital Dollar hasn't even materialized yet, so we have plenty of time to enjoy paper money while it lasts. Just my opinion

[flareonbtc]

Bitcoin and US Digital dollars should go hand in hand. There's lots of companies using both digital balances like Paypal (https://paypal.com/), Square (https://squareup.com), and Poof (https://www.poof.io/) already to accept both fiat payments and crypto payments alike.

As I see it, the more payment methods, the merrier. If anything Bitcoin would be a threat to the US Digital dollar.

[serjent05]

Digital dollar will not be a threat to btc. No digital currency can be a threat to Btc because has been there for long and also because of the number of investors around the world not just from a country.

Instead, we may say Bitcoin is a threat to the dollar in the eye of the government.  Since many people are blindly jumping onto the bandwagon, some governments take it negatively.  So if we are talking about threat to Bitcoin, I believe it is the government and financial institution that is a threat to Bitcoin.

Bitcoin is not affected by other alcoins including digital dollars, meaning I always see the bitcoin market as a benchmark for other alcoin prices, for example when the price of bitcoin goes down, the price of alcoin will also go down and vice versa.

True, Bitcoin is still promulgating despite the availability of digital money in every country so I think the digital dollar makes no difference.  It won't have any effect on the Bitcoin ecosystem.

[goldkingcoiner]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

The digital dollar is not even a threat to the paper dollar. If anything the paper dollar has less disadvantages and more advantages than the digital fiat version. I really hope all these digital government control traps are going to crash and burn at the moment of introduction. The only reason they exist is to take away more freedom from the people and put everyone under a bigger surveillance system. But since Bitcoin has come into existence, I am not worried.

Hell, any cryptocurrency is better than fiat, to be honest.

Worst case scenario we will have to openly rebel against the government on the streets if they oppress us to the point of making any crypto ownership illegal/difficult.

[darkangel11]

The digital dollar is not even a threat to the paper dollar. If anything the paper dollar has less disadvantages and more advantages than the digital fiat version. I really hope all these digital government control traps are going to crash and burn at the moment of introduction. The only reason they exist is to take away more freedom from the people and put everyone under a bigger surveillance system. But since Bitcoin has come into existence, I am not worried.

I cannot agree. Digital dollar and other CBDCs are made to replace paper money. They aren't a threat to normal currencies but they're made to stop the production and use of cash.
Maybe you haven't noticed but the World Economic Forum is pushing for this. They had multiple statements where they said that cash should be completely gone and replaced because it's not eco-friendly and pure. It costs money to make, creates waste, transmits diseases, is easy to steal and makes black market trade easier.
They want to know what you're doing, who you're paying, how much money you have and they want control over your money to make you obedient. Protesters in Canada have experienced what it means to have your account locked because you dare to oppose the government.

Hell, any cryptocurrency is better than fiat, to be honest.

Worst case scenario we will have to openly rebel against the government on the streets if they oppress us to the point of making any crypto ownership illegal/difficult.

Let's hope the rebellion starts before they replace cash with digital money or you'll have all your money taken away the same day a camera catches you protesting.

[goldkingcoiner]

The digital dollar is not even a threat to the paper dollar. If anything the paper dollar has less disadvantages and more advantages than the digital fiat version. I really hope all these digital government control traps are going to crash and burn at the moment of introduction. The only reason they exist is to take away more freedom from the people and put everyone under a bigger surveillance system. But since Bitcoin has come into existence, I am not worried.

they're made to stop the production and use of cash.

Thats really the reason why its not a threat to the fiat system of today. Because nobody is planning on making paper money illegal. If anything, they will have to slowly phase it out but not make it "illegal". The corrupt politicians have waay too much laundered cash in their mattresses to be advocating for wiping it all out in a day or two. So obviously if digital fiat is going to make it, it will have to show its a better version of the paper fiat. And its not. People will not accept the government denying them their cold hard cash. We are not in China and we will not take that lying down. The WEF knows this.

[Xampeuu]

The digital dollar is not even a threat to the paper dollar. If anything the paper dollar has less disadvantages and more advantages than the digital fiat version. I really hope all these digital government control traps are going to crash and burn at the moment of introduction. The only reason they exist is to take away more freedom from the people and put everyone under a bigger surveillance system. But since Bitcoin has come into existence, I am not worried.

they're made to stop the production and use of cash.

Thats really the reason why its not a threat to the fiat system of today. Because nobody is planning on making paper money illegal. If anything, they will have to slowly phase it out but not make it "illegal". The corrupt politicians have waay too much laundered cash in their mattresses to be advocating for wiping it all out in a day or two. So obviously if digital fiat is going to make it, it will have to show its a better version of the paper fiat. And its not. People will not accept the government denying them their cold hard cash. We are not in China and we will not take that lying down. The WEF knows this.

between digital dollars and paper dollars both are the same, namely the currency of a country which only differs in the system of use, so I don't think this will affect paper currency, because they are in the same source. I think this is only a socialization of the transition of payment methods to a digital system, because both are still centralized by the government

[vatanen]

I think it will not. digital dollar is just a digital money which reprerents the value of dollar in digital form where as bitcoin is a in a higher level where it represents the whole cryptocurrency. Bitcoin is the king and the first of its technology.

[Hamza2424]

In the digital space there ia no thread to the Bitcoin as Bitcoin can flawlessly lead the digital economy and finance. You can understand this by the distributed network and decentralization of the bitcoin network. So investors do Trust Bitcoin untill investors trust there is no need to worries.

[Mate2237]

In the digital space there ia no thread to the Bitcoin as Bitcoin can flawlessly lead the digital economy and finance. You can understand this by the distributed network and decentralization of the bitcoin network. So investors do Trust Bitcoin untill investors trust there is no need to worries.

Yes, you said the truth. US digital dollar can't affect Bitcoin in any way. There are of two different control. Bitcoin is decentralized while dollar be a digital or hard currency, it is a centralized control. Bitcoin price is base on the demand in the blockchain while dollar price is base on imposed. Dollar cannot devalue Bitcoin because there is nobody to hold responsible. Bitcoin nis the father of the cryptocurrencies ecosystem space.

[Japinat]

...
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

If you like a centralized, reversible, censorable, seizable, non-pseudoanonymous, inflationary currency who's value is set by whim, then the digital dollar will succeed.  

If you want to preserve your wealth and freedom, then you won't view bitcoin and the digital dollar as anything similar except that they both are "digital".

Correct! The digital dollar or even the digital euro won't be a threat to bitcoin or even sees it as a competitor. The mentioned coins have their own use and utility, many prefer this digital currencies because they are stable and yes, it should be because it's controlled and centralized. But bitcoin is different, saying the reasons why there's a lot of people choosing it over these stable coins would be redundant already and it's almost too obvious why. There's a lot of things that a decentralized coins can give to us that a stable coins can't.

[uneng]

In the digital space there ia no thread to the Bitcoin as Bitcoin can flawlessly lead the digital economy and finance. You can understand this by the distributed network and decentralization of the bitcoin network. So investors do Trust Bitcoin untill investors trust there is no need to worries.

I believe the threat isn't exactly digitar dollar, rather it's the regulators behind digital dollar the real threat to bitcoin, because they can use their decision power to difficult or forbid bitcoin usage in order to push the adoption of their own cryptocurrency upside. They can also launch misinformation campaigns against bitcoin aiming the masses, that can be made through comparisons between CBDC and bitcoin, where they will highlight the benefits and advantages of their currency while highlighting the negative aspects of bitcoin to discourage the public going for the decentralization.

[xSkylarx]

In the digital space there ia no thread to the Bitcoin as Bitcoin can flawlessly lead the digital economy and finance. You can understand this by the distributed network and decentralization of the bitcoin network. So investors do Trust Bitcoin untill investors trust there is no need to worries.

I believe the threat isn't exactly digitar dollar, rather it's the regulators behind digital dollar the real threat to bitcoin, because they can use their decision power to difficult or forbid bitcoin usage in order to push the adoption of their own cryptocurrency upside. They can also launch misinformation campaigns against bitcoin aiming the masses, that can be made through comparisons between CBDC and bitcoin, where they will highlight the benefits and advantages of their currency while highlighting the negative aspects of bitcoin to discourage the public going for the decentralization.

You have really a point just to make their token good and bitcoin bad, but still, the target audience on that is those who really don't know bitcoin; they will make their own token newbie friendly (I don't mean that Bitcoin is not, but it takes real time to read it and understand it on how it works). That's how powerful the people behind it, mostly the government, can really do that. They also can't persuade those people who are really into bitcoin. But for me, as long as they are both good and usable in the face of the internet and I can still gain profit, then that's good to me.

[Ludmilla_rose1995]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

there is already USDT, USDC, BUSD, and many others and now they want to add more by making a digital dollar CBDC, which will only add shitcoin to the market. Bitcoin is a decentralized asset and currency, so don't be afraid of any plans or FUD made by the government, Bitcoin is unbeatable and digital dollars will surely fail.

[Memorabilia]

Digital dollars are designed to be controlled by the government but that’s not the case with bitcoins.
Bitcoin has its own supremacy. I don’t think the digital dollar will do any harm to them.

[BALIK]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

there is already USDT, USDC, BUSD, and many others and now they want to add more by making a digital dollar CBDC, which will only add shitcoin to the market. Bitcoin is a decentralized asset and currency, so don't be afraid of any plans or FUD made by the government, Bitcoin is unbeatable and digital dollars will surely fail.

The release of CBDC will not have any effect or threat on bitcoin, you don't need to be angry. Dollar is digital like the paper USD we are using but different in how it works. The digital dollar will remain inflationary over time just like paper USD. Issuing CBDC will have pros and cons for us, the advantage here is that we will get rid of paper money and move to a modern world and do not need to spend a lot of money and waste materials to print paper money and convenient in daily payment. The downside here is that the government will have more control over us when we use CBDC, even the smallest act will send data to the government, the more we lose our privacy.

Let their government do whatever they want, as long as the bitcoins are there we have nothing to worry about. The government will never be able to completely control us.

[Abiky]

The release of CBDC will not have any effect or threat on bitcoin, you don't need to be angry. Dollar is digital like the paper USD we are using but different in how it works. The digital dollar will remain inflationary over time just like paper USD. Issuing CBDC will have pros and cons for us, the advantage here is that we will get rid of paper money and move to a modern world and do not need to spend a lot of money and waste materials to print paper money and convenient in daily payment. The downside here is that the government will have more control over us when we use CBDC, even the smallest act will send data to the government, the more we lose our privacy.

Let their government do whatever they want, as long as the bitcoins are there we have nothing to worry about. The government will never be able to completely control us.

The government can see every transaction related to credit/debit cards, so I don't see how CBDCs would be any different. If people were used to getting "spied" on credit card transactions, then they should have no problem embracing a CBDC. The new digital cash system would only destroy paper money as we know it, enabling a new era in our society. It won't challenge Bitcoin because of its centralized design, though. Comparing Bitcoin vs the Digital Dollar would be comparing apples vs oranges. I wouldn't worry about the new government-issued digital currency as long as decentralization wins in the long run. Just my thoughts

[Marcellin9]

Digital dollar at its core is a payment method. It would change anything in value whether you have it in large or small. Its biggest advantage is to make people's transaction/trade more quickly and conveniently. Bitcoin, however, is an investment asset which attracts people to invest enormously over a long term. The purposes of choosing or using digital dollar and Bitcoin are completely different. Yet the users might be mixed cause there is no fine line between them. The increase of users with digital dollar does not have to mean a decrease of users in Bitcoin. In the short term, as generally people won't know Bitcoin that well and choose to use digital dollar for its super convenience, digital dollar will be a threat to Bitcoin. In the long term, as people are more educated with more acceptance, the threat will be gone.

[RolonNigel]

It will not pose a threat, and may promote the discovery of Bitcoin. Bitcoin is digital and has stored value, which does not conflict with the definition of digital dollars.
If this digital dollar is successful, then Bitcoin will also be positively affected, making it easier for everyone to exchange currencies.

[Sang Veronike]

They argue that it is almost impossible for bitcoin or other digital currencies to replace the U.S. dollar as the world's reserve currency, and that the volatility of bitcoin's price and its extremely limited supply make it unqualified for the task.
In fact, the purpose of bitcoin is not for payment. You can use bitcoin to buy goods, but bitcoin is more about storing value.

[YouYou0321]

Digital dollars are designed to be controlled by the government but that’s not the case with bitcoins.
Bitcoin has its own supremacy. I don’t think the digital dollar will do any harm to them.

The U.S. dollar is completely centralized. Centralization may have some impact on Bitcoin in the short term, but it cannot be affected in the long run. The more you block BTC, the more people will pay attention to BTC.

[Blawpaw]

we all know that once CBDCs come into play the crypto landscape will be hugelly affected. They are already targeting POW blockchains and that is how they will start. They will turn POW blockchains illigal and push most of them to POS. BTC will have to resist or else....

[Celin Kai]

No matter what form a dollar takes, it's still a dollar. The digital dollar only converts the form, it doesn't change its essence. So the digital dollar won't have any effect on bitcoin.

[Abiky]

we all know that once CBDCs come into play the crypto landscape will be hugelly affected. They are already targeting POW blockchains and that is how they will start. They will turn POW blockchains illigal and push most of them to POS. BTC will have to resist or else....

Of course. Governments will increase their attacks against crypto after CBDCs are launched. But that doesn't mean it's the end of the world. It'll be up to the community to stand strong by keeping crypto as decentralized and censorship-resistant possible. Strong projects will last for generations, while weak ones will become history. I think government-issued digital currencies (or CBDCs for that matter) will benefit crypto more than it could harm it due to the publicity it will provide. People around the world will get to know there are other digital payment systems with the rise of CBDCs and the termination of paper money. Just like Gold co-exists with paper money, credit cards and Bitcoin today, the same will happen after the launch of the Digital Dollar or any other CBDC.

We really have nothing to worry about as long as crypto remains true to its principles. Who knows if we're closer to a full cashless society than we've previously imagined? Just my thoughts

[Yatsan]

Not even an inch. Threat for what? For allowing people to convert their assets and make use of it simply because this technology is still not widely accepted across countries? nah.

Digital dollars are designed to be controlled by the government but that’s not the case with bitcoins.
Bitcoin has its own supremacy. I don’t think the digital dollar will do any harm to them.

The U.S. dollar is completely centralized. Centralization may have some impact on Bitcoin in the short term, but it cannot be affected in the long run. The more you block BTC, the more people will pay attention to BTC.

How would centralisation of a fiat currency will even affect Bitcoin? Im confused. In short term? on what sense? Cryptocurrencies and fiat such as USD has no effect with one another. They are just interchangeable if an investor would like to liquidate an amount of his asset. Even the market prices of cryptos are still based with fiat but a sudden fall on the value of one, won't result to a change with other one's market price.

[YouYou0321]

No matter what form a dollar takes, it's still a dollar. The digital dollar only converts the form, it doesn't change its essence. So the digital dollar won't have any effect on bitcoin.

Yes, the important thing is not the physical form of the currency but the issuance method and issuance logic. What is important is the internal structure. I think there must be stability that fully conforms to the spirit of the blockchain.

[Abiky]

How would centralisation of a fiat currency will even affect Bitcoin? Im confused. In short term? on what sense? Cryptocurrencies and fiat such as USD has no effect with one another. They are just interchangeable if an investor would like to liquidate an amount of his asset. Even the market prices of cryptos are still based with fiat but a sudden fall on the value of one, won't result to a change with other one's market price.

Exactly. Fiat is Fiat, while Bitcoin is Bitcoin. You can't compare both of them because they're completely different things. Comparing BTC vs Fiat (USD, EUR, YEN, etc) would be comparing apples vs oranges. We all know Fiat will always be centralized, no matter how governments wants us to believe otherwise. The launch of CBDCs will only remove paper money from circulation by putting the mainstream economic system into the digital realm. But that doesn't mean Fiat by itself will become decentralized. On the contrary, CBDCs will enable greater centralization as they will allow governments and central banks to have a full scope over people's finances. Not like paper money where transactions are performed from one person to another without leaving any trace.

When the Digital Dollar comes, we should expect everything else to remain the same. Decentralized cryptocurrencies, on the other hand, will continue to improve and reach a wider audience in the future. They will never go away thanks to the way they were designed. Considering that crypto has come a long way since it's inception, it's likely it will live alongside Fiat for generations. Who knows how a full-fledged cashless society will look like in the long run? Just my opinion

[Codswallop]

If that happens, people will be interested in Bitcoin too. Today, many people, because of their lack of knowledge, cringe at the idea of Bitcoin. But they won’t once something like that happens.

[Warkop]

Digital dollars are designed to be controlled by the government but that’s not the case with bitcoins.
Bitcoin has its own supremacy. I don’t think the digital dollar will do any harm to them.

The U.S. dollar is completely centralized. Centralization may have some impact on Bitcoin in the short term, but it cannot be affected in the long run. The more you block BTC, the more people will pay attention to BTC.

How would centralisation of a fiat currency will even affect Bitcoin? Im confused. In short term? on what sense? Cryptocurrencies and fiat such as USD has no effect with one another. They are just interchangeable if an investor would like to liquidate an amount of his asset. Even the market prices of cryptos are still based with fiat but a sudden fall on the value of one, won't result to a change with other one's market price.

I also agree with you, there is no relationship between the two, it's just that they have prices on their respective exchanges, sometimes it's confusing, but it's back to the holders how they liquidate a number of their assets, in several markets, because it's true that all prices depend on fiat, not even just this year, even in previous years, experiencing the same thing, only a sudden drop in the value of one currency, all changes depending on them..

[Smartprofit]

No matter what form a dollar takes, it's still a dollar. The digital dollar only converts the form, it doesn't change its essence. So the digital dollar won't have any effect on bitcoin.

In my opinion, the digital dollar (CBDC) could negatively affect the future of Bitcoin. 

Currently, the first cryptocurrency can be bought and sold for cash.  Cash is untraceable.  Therefore, governments cannot ban Bitcoin.  Also, in many cases it is difficult for regulators to correlate information about the purchase of Bitcoin with the identity of its new owner. 

However, the digital dollar (CBDC) allows regulators to fully control all cash flows in the country. 

This gives them the potential to control all Bitcoin transactions and even completely ban the circulation of the first cryptocurrency.

[Abiky]

In my opinion, the digital dollar (CBDC) could negatively affect the future of Bitcoin. 

Currently, the first cryptocurrency can be bought and sold for cash.  Cash is untraceable.  Therefore, governments cannot ban Bitcoin.  Also, in many cases it is difficult for regulators to correlate information about the purchase of Bitcoin with the identity of its new owner. 

However, the digital dollar (CBDC) allows regulators to fully control all cash flows in the country. 

This gives them the potential to control all Bitcoin transactions and even completely ban the circulation of the first cryptocurrency.

This would only apply to centralized exchanges. But not P2P transfers happening on-chain. A person could simply buy/sell Bitcoin without having to go through centralized exchanges (which are traceable by the government). Of course, CBDCs will enable governments to have a full-scope of a person's transactions. But as long as you don't disclose that some transactions are related to Bitcoin trades, you'll have nothing to worry about.

The Digital Dollar or any other CBDC for that matter would only mark the beginning of the end for paper money. Everything else will remain likely the same as it is right now. Bitcoin and some other cryptocurrencies are decentralized, so it's likely they will live alongside digital Fiat for generations. Who knows if we're closer towards a cashless society than we've thought? Just my opinion

[ayuskabob]

Not more than euro or yen.

The 2 majors and only threat to bitcoin is 1: perceived trust,it can be hurt by media controlled by banks,but only to an level
and second :the possibilities and dangers of quantum computing to bitcoin encryption and all other crypto technologies.

[tjtonmoy]

You can imagine digital dollar as a stable coin in crypto. There are stable coins like us dollar in crypto world too. But that doesn't threaten BTC at all. The dollar will be controlled by Government, which defies the sole purpose of BTC, which is freedom and anonymity of personal space. No strings attached.
Why do you think BTC has come to this position over the year?
It's simply because Bitcoin gives us something which dollar can't provide. And BTC becoming more and more popular day by day. So I don't think this will create any major threat towards BTC.

[seoincorporation]

To understand if it will be a threat or not, first we have to understand how that digital dollar will work... if governments can print unlimited money with the digital dollar just as they love to do with real money, then it will be a threat to bitcoin. But if the money is limited just as in bitcoin then it will be something good for the cryptos ecosystem.

[noormcs5]

You can imagine digital dollar as a stable coin in crypto. There are stable coins like us dollar in crypto world too. But that doesn't threaten BTC at all. The dollar will be controlled by Government, which defies the sole purpose of BTC, which is freedom and anonymity of personal space. No strings attached.
Why do you think BTC has come to this position over the year?
It's simply because Bitcoin gives us something which dollar can't provide. And BTC becoming more and more popular day by day. So I don't think this will create any major threat towards BTC.

Digital dollar or simple dollar, none of these can be a threat to the bitcoin. Even no stable coin can ever become a threat to bitcoin. Stable coins cannot replace bitcoin. If dollars or stablecoins were that important, then we never had bitcoin in the first place.

To understand if it will be a threat or not, first we have to understand how that digital dollar will work... if governments can print unlimited money with the digital dollar just as they love to do with real money, then it will be a threat to bitcoin. But if the money is limited just as in bitcoin then it will be something good for the cryptos ecosystem.

Any money which is controlled by the government can not bring a threat to bitcoin, no matter if it is in the form of digital currency or fiat currency. Also, there cannot be a fixed supply of digital dollars and hence it will not be inflation free.

[Robertshon]

It is unlikely that a digital dollar would pose a threat to bitcoin. While a digital dollar may provide some competition for bitcoin, the two are fundamentally different and serve different purposes. Bitcoin is a decentralized digital currency that operates independently of any government or central authority. A digital dollar, on the other hand, would likely be issued and controlled by the government, similar to how physical dollars are currently issued and controlled. As such, a digital dollar would not be a direct threat to the existence of bitcoin, but it could potentially compete with it for adoption as a means of digital payment.

[panganib999]

I came across this on the news today, and I wonder if this will be a challenge to the growth of crypto in the united states with the government beginning to consider the digital dollar.

The White House is particularly targeting the proof-of-work transaction-validation process used by many blockchains, including bitcoin. This mechanism consumes huge amounts of energy because it requires a lot of computing power.

And with everything else, the administration is pushing for a digital dollar, a kind of digital twin of the dollar, at a time when China has taken a step ahead on this issue

Read here
Do you think with the level of civilization in the united states, that the digital dollar will be successful?

If Digital Dollar could be used outside of US with little to no restrictions and a lower transaction fee for that matter, Digital Dollar may be on par with bitcoin's utilities, but I doubt that would be the case cause the capitalist instinct is to always make parameters that will yield the person profit no matter what. Bitcoin on the other hand, although pricey, is very much usable overseas and to top it all off, anonymous, protecting its users privacy with utmost care. Digital Dollar will fall short on this as verification will be needed no matter what to make overseas payments and transactions. In the long run, Digital Dollar will see usage amongst the people, but if bitcoin continues to get the support that it gets right now, it will slowly regain traction.

[Abiky]

To understand if it will be a threat or not, first we have to understand how that digital dollar will work... if governments can print unlimited money with the digital dollar just as they love to do with real money, then it will be a threat to bitcoin. But if the money is limited just as in bitcoin then it will be something good for the cryptos ecosystem.

The Digital Dollar (or any other CBDC for that matter) will never pose as a serious threat against Bitcoin simply because it's centralized by design. Bitcoin's been doing fine alongside paper money anyways, so I think everything else will remain the same after CBDCs are launched for public use. What matters is that Bitcoin remains decentralized so it could resist government interference. Only this way, Bitcoin could survive for generations.

I wouldn't care about the Digital Dollar because it will be subject to inflation just like paper money. Banks will continue to create new units of the currency whenever they see fit, to manipulate the economy to their own advantage. I'm glad there's an alternative that empowers people to be their own bank. Who knows if governments will ultimately give up on their task to try to destroy Bitcoin for good? Just my thoughts

[Mauser]

You can imagine digital dollar as a stable coin in crypto. There are stable coins like us dollar in crypto world too. But that doesn't threaten BTC at all. The dollar will be controlled by Government, which defies the sole purpose of BTC, which is freedom and anonymity of personal space. No strings attached.
Why do you think BTC has come to this position over the year?
It's simply because Bitcoin gives us something which dollar can't provide. And BTC becoming more and more popular day by day. So I don't think this will create any major threat towards BTC.

I agree with you, just because there is now a digital version of the Dollar or the Euro doesn't mean all the problems of the fiat money is solved now. Personally I am looking at the digital Dollar the same way I look at the physical Dollar. Both of them are controlled by the central bank. If politicians decide to print more of it then there is nobody stopping them. The main attractiveness of crypto currencies and bitcoin in particular is the independence from national governments and the limited supply. Only when there is a finite number of coins that can't be created out of thin air overnight, will it be a real protection against inflation and a good store of value. The digital dollar is an attempt by the USA to advantage of the rise of crypto currencies. So far I am not convinced that it will be a threat to the crypto community.

[Xinarae*]

I also think that the digital dollar will not be a threat to bitcoin the dollar is usually controlled by the government but bitcoin is not controlled by anyone. It is not accepted by others except certain individuals or institutions. The current trend suggests that digital currency will be widely accepted by the general public. However, it is difficult to say how this system will be CBDC will be the digital version of the printed currency.

[qwertyup23]

I do not think that digital dollar would become a threat to BTC since they have different uses and purposes.

Digital dollar is the same as fiat- the only difference is the platform on where you can use it. In contrast, BTC is something that can be used as alternative payment if you want to secure your transactions in the blockchain. Again, like what I similarly comment on posts like these, both fiat/digital dollar and bitcoin can co-exist with each other. They can both be used as they can fulfill each other's roles effectively.

[AicecreaME]

I'm afraid it is not.

Any kind of fiat currency does not have the chance to be superior to Bitcoin, in my opinion. Fiat and Bitcoin are completely different from each other, even though it is a digital dollar or whatever currency it is, you can't hide the fact that it is still fiat and is controlled by the Government. Besides, I highly doubt that everyone could use the digital payment instead of cash since not all of the people have the privilege to buy gadgets in able to do so.

[Dzwaafu11]

Digital dollar can't be threat to bitcoin many people in the world use bitcoin as an assets some use to for transactions, since the USD don't be a threat to bitcoin why will digital dollars be a threat

[Abiky]

I do not think that digital dollar would become a threat to BTC since they have different uses and purposes.

Digital dollar is the same as fiat- the only difference is the platform on where you can use it. In contrast, BTC is something that can be used as alternative payment if you want to secure your transactions in the blockchain. Again, like what I similarly comment on posts like these, both fiat/digital dollar and bitcoin can co-exist with each other. They can both be used as they can fulfill each other's roles effectively.

The Digital Dollar could become a threat to Bitcoin, if the US government forces its use. But that's very unlikely to happen, especially when the US is a democracy. What will happen is that the government will tighten regulations to keep away the "bad actors" from Bitcoin. With how far the cryptocurrency has gone since its inception, it's very unlikely it'll disappear just like that.

I think both Bitcoin and the US Digital Dollar (or any other CBDC for that matter) will live alongside each other for generations. Sort of how Gold is living alongside Fiat up to this date. People will choose which kind of currency to use for day-to-day payments. Who knows if we're closer to a cashless society than we've thought? Just my thoughts