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Cryptocurrency discussions / CBDC: good or bad? Will it be actively implemented or is this a dead-end idea?
« on: April 15, 2024, 10:36:45 AM »
There's no secret in that the classical financial system is wary of Bitcoin and cryptocurrencies. Most of the speeches in which representatives of central banks say something about Bitcoin contain the words “risks”, “threats” and the like. They are really upset about decentralized currencies, over which they cannot establish complete control. Therefore, various control methods, restrictions and prohibitions are often introduced for centralized intermediaries serving cryptocurrencies, such as exchanges, stores, etc.
Well, as a carrot for the broad masses, a “right cryptocurrency” is being produced — CBDC, the Central Bank Digital Currency, which, according to some representatives of different central banks, is not even a cryptocurrency (which is true, it is not even close to be a true crypto, but simply a decoy), but much better and completely controlled by the Central Bank. Centralized forgery.
We know that some countries and organisations already issued their CBDC, like the Bahamas (Sand Dollar), the Eastern Caribbean Currency Union (D-Cash) and Nigeria (eNaira). Others are still not sure, some are very unsure. For instance, Thomas Jordan, the Chairman of the Swiss National Bank, says that there's no need in this form of swiss frank, the existing forms can fit for any needs. The Reserve Bank of Australia is working on its CBDC implementation, but it examined the situation and found that australians are not fond of CBDC and don't want to pay additionally for the option of using it.
Which are your thoughts on who will ultimately win: decentralized cryptocurrencies or centralized CBDC?
Well, as a carrot for the broad masses, a “right cryptocurrency” is being produced — CBDC, the Central Bank Digital Currency, which, according to some representatives of different central banks, is not even a cryptocurrency (which is true, it is not even close to be a true crypto, but simply a decoy), but much better and completely controlled by the Central Bank. Centralized forgery.
We know that some countries and organisations already issued their CBDC, like the Bahamas (Sand Dollar), the Eastern Caribbean Currency Union (D-Cash) and Nigeria (eNaira). Others are still not sure, some are very unsure. For instance, Thomas Jordan, the Chairman of the Swiss National Bank, says that there's no need in this form of swiss frank, the existing forms can fit for any needs. The Reserve Bank of Australia is working on its CBDC implementation, but it examined the situation and found that australians are not fond of CBDC and don't want to pay additionally for the option of using it.
Which are your thoughts on who will ultimately win: decentralized cryptocurrencies or centralized CBDC?