Most people in the world aspire to slavery, not to freedom. The CBDC project can be very successful.
People are actively moving away from cash, despite the fact that cash is a real freedom and lack of control from governments and banks. Currently, people are actively using bank cards, with the help of which commercial banks can track all the expenses and incomes of their customers.
CBDC is just a further evolution of cashless payments.
At the same time, this is a real opportunity for the state to build a financial system that will allow the government to effectively intervene in the economic processes in the country.
I have to say cash is not freedom, neither bank cards obviously, and nor CBDC will be. None of them are the real "freedom" that we need. Bitcoin is sort of there, it's not fully there but it is decentralized so it is by far the best one out there so far, and it will stay like that until something better comes along.
Freedom is not given to us but we need to take it, nobody would give up their billionaire life and government overwatch just because they should, they give it up because you force them to. And in order to do that we need something even better than bitcoin, but it is at least better than anything in the fiat world, and that's something.
In my opinion, cash is the best money for people who value their freedom.
Previously, cash was made from gold and silver. Since gold and silver are precious metals, no tyrant in the world has ever had the opportunity to devalue your money. Yes, he could kill you and take your money, but he couldn't devalue it.
Then the money began to be issued in paper form, and then it was announced that banknotes were no longer backed by gold and could not be exchanged in the Central Bank for gold bars. This has allowed governments to devalue your money through inflation.
However, you still had the opportunity to make money transactions anonymously and confidentially. You could make payments to any person and buy any (even prohibited) goods, works and services.
The freedom of people was further limited with the beginning of the mass use of plastic bank cards. Banks began to monitor the money transactions of their customers and block their accounts in case of suspicion of committing some kind of prohibited activity.
The introduction of the CBDC symbolizes the complete loss of freedom of monetary circulation. CBDC is, in fact, a digital money concentration camp in which the money does not belong to you, and your right to use it can be revoked at any time.
If only someone invented a form of money that can't be censored.
In a world where CBDC's adoption grows more and more, I'm sure that the growth of people who value their freedom to transact will grow more and more too. There's just one path towards that and all of them lead to Bitcoin. We are indeed early, because if everyone knew what was going on, Bitcoin would have already surged to six digits.
Money that cannot be censored has already been invented - this is Monero (XMR). Monero is the complete opposite of CBDC.
CBDC is centralized money, Monero is decentralized money. CBDCs are completely devoid of the anonymity feature. Monero is one of the most anonymous and confidential money protocols. CBDC was created as an element of a digital concentration camp, Monero was created as an effective tool to overcome prohibitions in the financial sector.
After the widespread implementation of the CBDC system, it may turn out that Bitcoin is not anonymous and confidential enough to function in parallel with the new financial system.
Then a more anonymous cryptocurrency may come to the forefront, whose users will be better protected than Bitcoin users.
If a new anonymous cryptocurrency should surface, one thing Bitcoin users have been exposed to is the fact that Bitcoin has provided a more trusted service and has proven to be stable compared to other crypto. The competition would be there of course.
With CBDC however, it is just digital money of what you have in your bank account. I don't see how its operation is supposed to be anonymous in anyway, but with it getting more revised, Bitcoin is not going to be as decentralized and transactions would be easily pinned.
The goal is to track laundering, other neferous activity and with more decentralized technology being in place, it is only matter of time before this is achieved. Monero as said would have to convince with trusted service over a duration before other users plunge in.
