How will CBDCs will impact Bitcoin?

[posi]

I think Bitcoin should be used as a currency since it's the best way to increase huge Bitcoin adoption.

I have a different opinion about bitcoin from you. I do not like bitcoin as a currency, I prefer it as an asset or a commodity like gold. To be a currency it has to have a stable value and be controlled by the government, you can't expect a currency not approved by the government, that will never happen and if bitcoin becomes stable, it will be no different from the current government CBDC. But if it is an asset like gold then its value will always fluctuate according to the demand from which we can make a profit.

[suzanne5223]

CBDCs and Bitcoin have a different purposes. Therefore, I don't see much impact the CBDC will cause on Bitcoin than it making people know there's a certain cryptocurrency ^{(which is Bitcoin)} was the main reason that give the government idea of creating their own CBDC which I believe will make people that only see BTC as a scam to literally to some surfing about it.

[Artemis3]

So, how do you guys think will affect Bitcoin?

CBDC is digital fiat, so its actually worse than cash. In short, they want to create money without spending in paper and ink, i know very well as my country has been doing it for years and even made the first State backed crypto (a CBDC before the acronym was invented) which was an absolute failure (they themselves don't use it despite their propaganda).

Just as current fiat doesn't realty affect bitcoin, neither will this. CBDCs are NOT an alternative to Bitcoin, they miss all the fundamental features that make bitcoin more valuable. Its only alleviating the State from spending in printing and custody of physical banknotes.

[justdimin]

Still won't give any effect to bitcoin, believe me. Again, CBDC is fiat, what do you want fiat to do other than make it a means of payment? You want to make it an investment? Impossible. Then why should we be afraid of CBDC?
I repeat, CBDC's just a means of daily payment, to buy burgers, tacos, Pepsi, pay rent, etc.

Some governments promote CBDC as a better and safer crypto so there will be some impact as decent number of potential Bitcoin users will not learn about it enough to start using. In another hand using digital money will give an experience of doing so and motivate some others for learning more and to know about Bitcoin what is an impact also. May be impact will be not too big but some impact will be.

But yes, CBDC is just another form of fiat, I totally agree.

I think it is not going to be an alternative to bitcoin but more like alternative to usdt, which means that there will be a lot of people who will use it, and it will be very much liked. All these people who claim that it will hurt crypto do not know what they are talking about, if a government is doing CBDC that means they are actually promoting crypto to a point and that's a good thing.

I believe that we are going to be doing just fine and it should be something we really enjoy and promote ourselves as well. If a government accepted it and uses it, that means they are actually quite fine about crypto as well and that means we can promote crypto saying the government promotes it as well.

[rat03gopoh]

I'm just referring to decentralized cryptocurrencies bound to bitcoin and altcoins like LTC, Dash, etc.

In terms of transaction mechanism, fiat (paper money) also has decentralized conditions at some point, such as self-custody, no censorship, (possibly) the transaction footprint can be reduced for privacy purposes, etc.
If cbdc is made referring to the features of paper money without removing any of the innate capabilities, then the importance of CBDC for people (imo) can outperform bitcoin, even transactions should be able to work without an internet network.

[jokers10]

I think it is not going to be an alternative to bitcoin but more like alternative to usdt, which means that there will be a lot of people who will use it, and it will be very much liked. All these people who claim that it will hurt crypto do not know what they are talking about, if a government is doing CBDC that means they are actually promoting crypto to a point and that's a good thing.

I believe that we are going to be doing just fine and it should be something we really enjoy and promote ourselves as well. If a government accepted it and uses it, that means they are actually quite fine about crypto as well and that means we can promote crypto saying the government promotes it as well.

Stable coins are not true crypto also and I suppose that they are even more risky than fiat currencies. So there are some negative sides both of stable coins and of CBDC. Problems with understanding a difference between true crypto (decentralized) and centralized imitations of true crypto (stable coins, CBDC and much more) is already a negative impact of popularized by governments CBDC.