CBDC competing with bitcoin

[mvdheuvel1983]

Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.

Bitcoin is unstoppable. If you have to list bitcoin top competitors, the Central Bank digital currencies is not even in the top 10.  I feel that the Central Bank digital currencies adjust a waste of resources and time hardly any citizen of any country that has implemented the Central Bank digital currency uses it. Even in most countries where they already have a Central Bank digital currency it is even considered as a project that has failed. This is because it has failed to reach its goal of adoption by the masses.

The CBDC is a spycoin. I used to think that 90% of the public will choose CBDCs out of convenience, trading their most precious resource, their time, for shackles but from my analysis of it's usage, I am wrong. And I like that I was wrong.

[ElmedoRator]

Bitcoin and CBDC have different use cases and serve different purposes. The decentralized, censorship-resistant, and permissionless nature of Bitcoin makes it valuable in situations where individuals seek financial autonomy, privacy, and protection from the control of others. government or inflation hedge.
On the other hand, CBDC, which is a government-backed digital currency, can offer benefits such as efficiency in digital payments, the ability to integrate with existing financial systems, and regulatory oversight. They may be better suited for everyday transactions, including purchases at places like Starbucks or other merchants. But bitcoin's decentralized and censorship-resistant nature offers a level of trust and security that some find appealing.

[BITCOIN4X]

I don't think CBDC will be a competitor to bitcoin in real use cases, but the government will work on CBDC to be the first as an alternative solution to fiat. Bitcoin will continue to be used by anyone concerned with privacy and decentralization, so CBDCs may not appeal to most bitcoin users, let alone maximalists.

CBDC is a centralized project initiated by the government. This is one that goes against the idea of ​​bitcoin likely not attracting much interest from users other than just using it for specific purposes. The idea of ​​using it is the same, it is an alternative.

[nurilham]

Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.

The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.

Since CBDC and real banks have no different system, CBDC won't ever imitate Bitcoin. Sure, it is only online banks or digital currency made by the government. The government only made a new way to turn the bank on the digital form, nothing very new or different in this innovation. Because of this, I doubt if it is the way to stop Bitcoin. How can CBDC stop Bitcoin? What CBDC offers to people that may change people's minds to move to CBDC? There is nothing that makes people interested since it is just an online bank. You are too worried if you think CBDC possibly replaces/stops Bitcoin or crypto in the future.

[TimeTeller]

I don't think CBDC will be a competitor to bitcoin in real use cases, but the government will work on CBDC to be the first as an alternative solution to fiat. Bitcoin will continue to be used by anyone concerned with privacy and decentralization, so CBDCs may not appeal to most bitcoin users, let alone maximalists.

CBDC is a centralized project initiated by the government. This is one that goes against the idea of ​​bitcoin likely not attracting much interest from users other than just using it for specific purposes. The idea of ​​using it is the same, it is an alternative.

There's no competition on these 2 currencies as they have different nature and use cases.
CBDC is like the digital fiat currency of the government and so it is indeed centralized.
With btc, people have more freedom in utilizing this top coin. They don't need to worry about
the government lurking their activities if they know how to handle their transactions discreetly.
So yes, people will use these 2 currencies, but on different circumstances depending on the situation they are in.

[gunhell16]

if they think that through cbdc they can replace or exceed Bitcoin in my view they are wrong, knowing that they will not be the same because cbdc will only imitate Bitcoin. Then centralized and decentralized are different aspects.

This is probably what the US is bragging about that they also have a digital currency, but whatever the true function of the cbdc is, it has nothing against and is not in the least beautiful of Bitcoin, because Bitcoin is not only an opportunity that is given to people, but it is also an asset, investment, and also has usages to be proud of.

[wiss19]

A CBDC is nothing more than digital fiat, its value will most probably be pegged to the official currency of a nation and won't be volatile like cryptocurrencies, so there is basically no competition between a CBDC and Bitcoin or any other cryptocurrency since Bitcoin is both decentralized and not pegged to any other currency while a CBDC is more a stable coin and centralized.

This effort of nations to fight against Bitcoin adoption will obviously not work as they want it to, people might use CBDCs only for purposes that they use fiat for like buying groceries or things and any other stuff that they usually do with a bank card or cash, but no one will stop using Bitcoin only because they got access to CBDC.

[DanWalker]

I don't think CBDC will be a competitor to bitcoin in real use cases, but the government will work on CBDC to be the first as an alternative solution to fiat. Bitcoin will continue to be used by anyone concerned with privacy and decentralization, so CBDCs may not appeal to most bitcoin users, let alone maximalists.

CBDC is a centralized project initiated by the government. This is one that goes against the idea of ​​bitcoin likely not attracting much interest from users other than just using it for specific purposes. The idea of ​​using it is the same, it is an alternative.

There's no competition on these 2 currencies as they have different nature and use cases.
CBDC is like the digital fiat currency of the government and so it is indeed centralized.
With btc, people have more freedom in utilizing this top coin. They don't need to worry about
the government lurking their activities if they know how to handle their transactions discreetly.
So yes, people will use these 2 currencies, but on different circumstances depending on the situation they are in.

Agreed, there is no competition between these two currencies. If fiat can't be compared and doesn't compete with bitcoin, so is CBDC because CBDC is just a digital version of fiat. In my opinion, the government created CBDC just to control their citizens more tightly instead of using fiat. Because when people switch to CBDC, all data will go to government data centers where it will be easier for them to control us. They will easily control and even take our property if we fight them. And that's something that I don't really support CBDC, but it also seems inevitable, the government will definitely launch it.

[RewFrew]

Having a central bank digital currencies still does not change anything because the system still remains the same, central bank digital currencies (CBDC) is controlled by the government and this same system can be manipulated. Central bank digital currencies is a financial structure that is based on debt.

The new innovation by the government is a way to imitate bitcoin but still not up to the standards of bitcoin which is a decentralised currency. CBDC is nothing different from an online banking, I'm sure the reason for central bank digital currencies is to stop to stop people from adopting bitcoin.
Central Bank digital currencies can never be a limitation to the growth of bitcoin, bitcoin possess that special uniqueness that no currency can be in a competition with. Central Bank digital currencies was made because of hatred to be like bitcoin.

I couldn’t think CBDC competing with Bitcoin. Because Bitcoin is fully decentralised on the other hand CBDC is centralized. Central Bank Digital Currency (CBDC) will be handle by government. CBDC recently Started mining and release a app for mining on the otherside Bitcoin well established and decentralise crypto currency. And bitcoin is father of all cryptocurrency. All cryptocurrency till now defended on Bitcoin. Thousand thousand of exchanger listed Bitcoin. But Central Bank Digital Currency  CBDC not listed yet.

Recently CBDC wanted to listing on Ancoin exchanger, but till now they not successful. They are in primary stage. They have to huge straggle for established. They have to pass many critical situation. I think not competing with Bitcoin CBDC neet to follow Bitcoins policy. If they properly follow then day by day CBDC will good currency in future. So i couldn’t think CBDC is not proper project to competing with Bitcoin till now.