Bitcoin is the vaccine against the CBDC virus

[Solosanz]

I need to disagree with your analogy, vaccine is created during or after someone is sick, but Bitcoin was created before any government want to create their own CBDC. So the analogy doesn't make sense since Satoshi already create it before CBDC happen.

But I tend to agree CBDC created is to kill Bitcoin, but they're forget Bitcoin is decentralized and anyone can buy or sell Bitcoin even the whole countries absolute ban Bitcoin usage through decentralized exchange.

[joker_josue]

Yeah. I still think CBDC was created not to destroy Bitcoin/cryptocurrency, but was made to destroy paper money and force the world to use only one currency slowly. Sounds absurd right? And unfortunately, I don't have a good argument for that. Ha ha.

On that I agree with you. The current financial system no longer works, it was designed more than 100 years ago, and is not ready for globalization. No matter how much interest rates increase or how much money is injected into the economy, we will have shorter and more frequent up and down cycles. And that's not good for anyone.

So I agree that the idea is to create a single, global financial system, with a single currency for the entire world, but each government can continue to create its own rules. And CBDC is one of the best solutions for that. One currency, but each country has its own rules.

I need to disagree with your analogy, vaccine is created during or after someone is sick, but Bitcoin was created before any government want to create their own CBDC. So the analogy doesn't make sense since Satoshi already create it before CBDC happen.

The idea of the author of the article is to indicate that Bitcoin is the vaccine for the current financial system, which is undergoing a serious change for CBDC. Hence this type of analogy.

[uchegod-21]

CBDC’s are evil, total control & communism by governments. The thought of them makes me sick. Imagine being unable to buy more meat this month because your social credit score indicates you’ve had too much so your government controlled CBDC payment is declined. That’s what this whole thing is about, a CBDC twinned with a social credit score for everybody.

I will not be a part of the Great Reset, this is why we have bitcoin.

I don't think that there is a great difference between physical fiat and CBDCs. If there is someone should let me know what I am missing.  I think that the only difference is that one is offline while the other one is digital. Even if it runs on blockchain, it is still centralized. If it is tracking ones expenses, I think mobile bank apps are used by banks and other of their data base to know the spending habits and the worth of their customers.

[livingfree]

I don't hate fiat because I still use it every day, and it's still necessary for us, but the truth is that CBDCs are the worst and most trashy thing the government is trying to create. Although it offers more utility than fiat, we already have bitcoin, and we don't need more CBDC. CBDC is just a tool for them to control us entirely, I have never hated the government, but with the CBDC initiative, I cannot take their side.

I also don't hate it because it's going to make me hypocrite while I'm using it. That's the fact, most of us still use it and very unlikely to avoid using fiat.

But this CBDC is just another idea that the government should just stop doing so, this is making their gateway to digitalization but they're also aware that cashless transactions are already there.

What's the purpose of this if there's already an existing one for most countries?

[Rruchi man]

It is a fact that is not yet a reality. But is it really that far from being? The major world economies are carrying out extensive studies on the implementation of CBDC.

We can question whether they will implement after these studies. Well, why would they say no to a financial system that gives complete control to the Central Bank and governments?

Already in my country, there is a move by the government to force the use of CBDC's down our throat by reducing the withdrawal limits and amount of cash in circulation. But just as you have said OP about bitcoins being the vaccines against CBDC virus, nobody will be talking about the vaccines, if there are no viruses, a vaccine will not be relevant without a virus. Forcefully introducing CBDC's will only have the long term effect of making Bitcoins more popular.

[Flexystar]

Basically what we discussing is, anything that goes into digital form is now under the radar of authorities. We can not freely transmit the data neither use any asset freely which has taken digital format. It is laughable thing but bitcoin was supposed to be fearless, pseudo anonymous and have the data integrity issue solved for us. But as we know already, various governments, financial institutes, authorities like SEC and CBDC are always putting their nose into matter of bitcoin. They are the reason for whole exposure of the crypto currencies otherwise we would have followed amazing trail of anonymous and unlimited transaction system.
Bitcoin was vaccine which has failed over the time due to such organization. There is still time needed to understand how one could improvise and implement it in the system.

[maikrothaman]

Privacy coins are the vaccines against the CBDC virus.

[romero121]

I think the spread of CBDCs can't be likened to a pandemic yet. It is not widespread yet. Although many countries have either studied or piloted their own versions of CBDCs already, there isn't a single country yet that is using a CBDC as its official currency. So if we are to liken Bitcoin to a vaccine against something considered a pandemic, it must be against the fiat currency itself, which a CBDC essentially is though. But Bitcoin is basically a solution to the kind of monetary system we have in place right now.

Many countries developed their own CBDC, but the same isn't working in an effective way. The existence of bitcoin have made people understand the flaws in the traditional monetary system. The existence of CBDC have given access for the governments to have control over people's money in an easier way than the monetary system. If a common CBDC is developed and countries begun to use it, then it can make some changes.

[hatshepsut93]

Well, why would they say no to a financial system that gives complete control to the Central Bank and governments?

Because if people will not want to use it, it would me just a waste of resources and a humiliation. CBDC can only succeed if its better than existing payment methods. If it has lower fees, better customer service, better cashback and other incentives, better interest rates. It also must be globally accepted.

What are the chances that a CBDC will manage to achieve that? How many countries in the world are able to create a government-owned version of Visa and get it as adopted? I'd say zero.

[davis196]

Well, why would they say no to a financial system that gives complete control to the Central Bank and governments?

Because if people will not want to use it, it would me just a waste of resources and a humiliation. CBDC can only succeed if its better than existing payment methods. If it has lower fees, better customer service, better cashback and other incentives, better interest rates. It also must be globally accepted.

What are the chances that a CBDC will manage to achieve that? How many countries in the world are able to create a government-owned version of Visa and get it as adopted? I'd say zero.

I don't think that the CBDC is going to act as a commercial bank. The interest rates won't be lower because of the CBDC, they will be lower because the central bank had changed them. A CBDC won't offer things like cashback and customer support service. The financial institutions will keep offering such services. I'm not an expert in CBDCs, but I think that the main reason behind CBDC creation is the central bank gaining more control over the commercial banks. I don't think that the main focus on CBDCs will be direct control over people's savings or how the people spend their money. Who knows, maybe this is their hidden agenda. I don't wanna get into conspiracy theories right now. 

[joker_josue]

Because if people will not want to use it, it would me just a waste of resources and a humiliation. CBDC can only succeed if its better than existing payment methods. If it has lower fees, better customer service, better cashback and other incentives, better interest rates. It also must be globally accepted.

What are the chances that a CBDC will manage to achieve that? How many countries in the world are able to create a government-owned version of Visa and get it as adopted? I'd say zero.

But Central Banks will never deal directly with the final consumer. They are not going to put an end to the commercial banking business. These types of financial products continued to be developed by commercial banks. This idea of no fees, it's just now in the launch phase, to attract consumers to join. After being massively adopted and in the daily lives of the population, fees arise.

As for adoption... well, fiat belongs to governments, as does CBDC. So, if governments stop accepting fiat and start accepting only CBDC, the population will simply have to change.

[Leviathan.007]

CBDC’s are evil, total control & communism by governments. The thought of them makes me sick. Imagine being unable to buy more meat this month because your social credit score indicates you’ve had too much so your government controlled CBDC payment is declined. That’s what this whole thing is about, a CBDC twinned with a social credit score for everybody.

I will not be a part of the Great Reset, this is why we have bitcoin.

According to what I aw during all these months after they started talking about the CBDCs, I can say CBDCs are the same as the traditional fiat currency and they are just a little bit shinier to attract people's attention to the centralized systems because in the end the CBDC is under control of the governments and the transaction are under control by a third-party element while I think the whole purpose of creating CBDC is to make a competitor for bitcoin and cryptocurrencies and this idea already failed.

[Stedsm]

I really don't think that we need CBDCs at all in our life.
It's like they're hammering their own head by doing this, because we already have PayPal and other various e-currency platforms allowing us to perform transactions in different currencies of the world, so what's the real point of coming up with a CBDC? That's just because they (your government) want to keep a track record of all your transactions directly and so they'll lure you to use their CBDCs and save on fees that you pay to these e-currency vendors. However, we in India already have UPI services that allow us to send INR from one account to another without any fee (mostly). So I don't understand the point of coming up with a CBDC when we already have the solutions available to transact our traditional fiat currency faster and cheaper.

[Lanatsa]

CBDC’s are evil, total control & communism by governments. The thought of them makes me sick. Imagine being unable to buy more meat this month because your social credit score indicates you’ve had too much so your government controlled CBDC payment is declined. That’s what this whole thing is about, a CBDC twinned with a social credit score for everybody.

I will not be a part of the Great Reset, this is why we have bitcoin.

According to what I aw during all these months after they started talking about the CBDCs, I can say CBDCs are the same as the traditional fiat currency and they are just a little bit shinier to attract people's attention to the centralized systems because in the end the CBDC is under control of the governments and the transaction are under control by a third-party element while I think the whole purpose of creating CBDC is to make a competitor for bitcoin and cryptocurrencies and this idea already failed.

Anything that do starts up on being centralized and minding about beating up Bitcoin into its current place then they had already failed from the start.The community do knows on what they do need and on what

are the things which is really just good to be an alternative.We cant deny that these CBDC's does have actually some utility or usage which if we do talk about trading or investment decisions which it could
really make yourself save up when there's too extreme volatility which it is really a common actions to be made.

There's no way that it could really replace out those decentralized things considering that they are totally opposite.Its better not to stress yourself out that much when it regards to this
manner because this is no different with digital fiat or something like this.

[joker_josue]

I really don't think that we need CBDCs at all in our life.
It's like they're hammering their own head by doing this, because we already have PayPal and other various e-currency platforms allowing us to perform transactions in different currencies of the world, so what's the real point of coming up with a CBDC? That's just because they (your government) want to keep a track record of all your transactions directly and so they'll lure you to use their CBDCs and save on fees that you pay to these e-currency vendors. However, we in India already have UPI services that allow us to send INR from one account to another without any fee (mostly). So I don't understand the point of coming up with a CBDC when we already have the solutions available to transact our traditional fiat currency faster and cheaper.

But a CBDC goes much further than that. Governments now have the ability to manage how and where money is spent. That is, while current systems only allow governments to have a certain level of information on transactions, with CBDC they now have full control of the money.

[uneng]

But a CBDC goes much further than that. Governments now have the ability to manage how and where money is spent. That is, while current systems only allow governments to have a certain level of information on transactions, with CBDC they now have full control of the money.

Besides that, CBDC opens the door for the so desired "one world currency" we are hearing since a long time ago. Rumours said it was bitcoin, but as we know bitcoin is the antidote to control from central authorities, the one world currency can come only from the subversion of bitcoin, in form of the CBDCs, developed by the enthusiasts of globalism who seek for unlimited regulations and surveillance over the common citizens.

Once CBDCs are introduced and enforced, we will need bitcoin more than ever. And this time must not be too far.

[Jason Brendon]

cbdc is a virus. and bitcoin needs to be ready to kick some asses

[joker_josue]

Once CBDCs are introduced and enforced, we will need bitcoin more than ever. And this time must not be too far.

It remains to be seen, with the CBDC implemented, what difficulties we will have to face in order to acquire Bitcoin. The best thing is to go together today, as a prevention.

[DooMAD]

Once CBDCs are introduced and enforced, we will need bitcoin more than ever. And this time must not be too far.

It remains to be seen, with the CBDC implemented, what difficulties we will have to face in order to acquire Bitcoin. The best thing is to go together today, as a prevention.

My suspicion has always been that, if governments do become hostile towards Bitcoin, the first thing they would likely do is prevent people from sending CBDC tokens to centralised exchanges, so people would no longer be able to purchase Bitcoin in that way.  

Bitcoin merely existing isn't enough.  We also need people to use Bitcoin in the intended way.  In order for a vaccine to be effective, it has to be administered correctly.  As such, people need to get accustomed to using Bitcoin in the peer-to-peer manner it was designed to be used.  People won't gain any protection if the only thing they do with their Bitcoin is leave it on exchanges.  

[yazher]

CBDC’s are evil, total control & communism by governments. The thought of them makes me sick. Imagine being unable to buy more meat this month because your social credit score indicates you’ve had too much so your government controlled CBDC payment is declined. That’s what this whole thing is about, a CBDC twinned with a social credit score for everybody.

I will not be a part of the Great Reset, this is why we have bitcoin.

Is this for real? I never thought it goes something worse like this and I don't know how they even can it equality for everybody with this kind of system. Bitcoins are really unique and it would be a great opportunity for us to consider migrating to use it and transact using it for our essential needs. After all, it's really a pain in the ass when you are getting controlled by the government about buying what you want with your own money and it's not first come first serve anymore, people that come first will not be able to buy everything he needs due to the new rules that they about t implement which is really weird.