Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: TomPluz on October 09, 2021, 04:48:11 PM

Title: CBDCs Will Not Kill StableCoins/Cryptos
Post by: TomPluz on October 09, 2021, 04:48:11 PM


There are some people who are in the government especially those departments dealing with money, banking and finance who are convinced that CBDCs is the killer of stablecoins and maybe even cryptocurrency for that matter. However, they way am seeing it is that CBDCs can even be complimenting cryptocurrency as it will be so easy and mobile to be using fiat money when they could be in pure digital form. The only way to "kill" cryptocurrency is to ban it just like what China is doing and you must have an authoritarian type of a government wo willing to use surveillance technologies to get the ban done.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: KryptoBull on October 09, 2021, 07:57:44 PM
CBDC is seen as a big wave of 2021 but the reality is that it is not in the crypto market. China has released their CBDC and as expected it is not regulated thanks to blockchain technology.
That's why I believe that CBDC only makes fiat stronger, not crypto weaker.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Ferki on October 09, 2021, 08:13:34 PM


There are some people who are in the government especially those departments dealing with money, banking and finance who are convinced that CBDCs is the killer of stablecoins and maybe even cryptocurrency for that matter. However, they way am seeing it is that CBDCs can even be complimenting cryptocurrency as it will be so easy and mobile to be using fiat money when they could be in pure digital form. The only way to "kill" cryptocurrency is to ban it just like what China is doing and you must have an authoritarian type of a government wo willing to use surveillance technologies to get the ban done.

You can't ban Crypto. China can't ban crypto´. Nobody can do that.
After China "did" that, many more bitcoin accounts were made, most of them from China.
VPN is used most in China right now.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: TomPluz on October 10, 2021, 12:37:40 PM
CBDC is seen as a big wave of 2021 but the reality is that it is not in the crypto market. China has released their CBDC and as expected it is not regulated thanks to blockchain technology. That's why I believe that CBDC only makes fiat stronger, not crypto weaker.

Eventually, I am inclined to believe that CBDCs will be replacing the fiat or paper money if not completely then by the majority of it as the thing can be more convenient and with a population that is already so ready to adopt digital way of living this is the way to go for the fiat money and the government is more than happy to obliged because with CBDCs they can have more control - that's why China love this option. However, at the end, the government will have no choice but to let the digitalized fiat money be connected and integrated with cryptocurrency.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Master107 on October 10, 2021, 04:26:58 PM
You can't ban Crypto. China can't ban crypto´. Nobody can do that.
After China "did" that, many more bitcoin accounts were made, most of them from China.
VPN is used most in China right now.

Yeah, Almost everything made in China but they cannot impose to stop either kill crypto. In fact they consume a lot and fan of crypto.  ;D
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Rinat8368834 on October 10, 2021, 05:58:34 PM
I fully agree that digital money will completely replace fiat, because today most of them use contactless payments. In fact, using contactless payments and online transfers, we are already using digital currency.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Alcor on October 11, 2021, 02:53:51 PM
It is too early to draw any conclusions about the relationship between stablecoins and digitized currencies of states. In fact, we haven’t seen the practical use of CBDC yet. However, it seems to me that they will still conflict. Indeed, in fact, all of them are backed by the currency of states, only CBDC are stablecoins of states, and the current stablecoins we know are mostly private or various commercial structures. Sooner or later they will conflict and the advantage here is clearly in the hands of the states.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Jaephoenix on October 11, 2021, 09:14:14 PM
CBDCs are quite different from crypto and there may be no central meting point. I sont think anyone can 'kill' crypto as you said. It's not centralized and under a certain government, and its decentralization is a plus
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: hair on October 11, 2021, 11:18:58 PM
Yes. I think CBDCs are only legal tender in a country, not killing existing stable coins. blockchain is freedom, many people like financial freedom without anyone's interference
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Kitaiev on October 12, 2021, 09:47:49 AM
It seems to me too that governments in most of the world will not be able to ban stable coins.
China is going its own way and i think it is the wrong way.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Senin on October 17, 2021, 06:00:10 PM
I read the information that the Chinese government, in the package of preparing bills that will accompany the appearance of their digitized yuan, also prepared a bill that prohibits the use of their yuan as collateral for other stablecoins. Other states could declare the same ban, and then the current private and commercial stablecoins will become illegal.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Alcor on January 04, 2022, 08:34:54 PM
It seems to me too that governments in most of the world will not be able to ban stable coins.
China is going its own way and i think it is the wrong way.
Countries' digitized currencies (CBDCs), that is, their central bank stablecoins, will indeed be direct competitors of their current private stablecoins. Since the provision of private stablecoins is based on the currency of states, it is easy for states to find an excuse to ban private stablecoins from circulation.
In order to understand how stablecoins of states will interact with cryptocurrencies, we need to observe the circulation of these stablecoins of states for some time.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Fenix on February 21, 2022, 12:43:37 PM
I fully agree that digital money will completely replace fiat, because today most of them use contactless payments. In fact, using contactless payments and online transfers, we are already using digital currency.
Digital money, CBDC, is a type of fiat money. More precisely, we can say that this is an improved form of non-cash payments of states. However, since these are stablecoins of states, they may well conflict with private stablecoins in the future. Indeed, for states, private stablecoins will be direct competitors, and all the trump cards in this case are with states whose currency is used by private stablecoins as collateral.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: densus88 on February 21, 2022, 12:49:59 PM
You can't ban Crypto. China can't ban crypto´. Nobody can do that.
After China "did" that, many more bitcoin accounts were made, most of them from China.
VPN is used most in China right now.

Yeah, Almost everything made in China but they cannot impose to stop either kill crypto. In fact they consume a lot and fan of crypto.  ;D

Crypto will always exist and will be needed by Investor to generate profit.
Talking about CBDC, It won't have effect to crypto, especially stable coins.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: rizqillah on February 21, 2022, 03:30:38 PM
CBDC is seen as a big wave of 2021 but the reality is that it is not in the crypto market. China has released their CBDC and as expected it is not regulated thanks to blockchain technology.
That's why I believe that CBDC only makes fiat stronger, not crypto weaker.

I agree , I think CBDC just make fiat stronger , not make crypto weaker.
As you said we all know CBDC , it's not in crypto market, So I don't think CBDC will kill stable coins.
Two different thing.
Crypto will have own market and exist there.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: therozaq on February 22, 2022, 07:27:12 PM
CBDC is seen as a big wave of 2021 but the reality is that it is not in the crypto market. China has released their CBDC and as expected it is not regulated thanks to blockchain technology.
That's why I believe that CBDC only makes fiat stronger, not crypto weaker.

I agree , I think CBDC just make fiat stronger , not make crypto weaker.
As you said we all know CBDC , it's not in crypto market, So I don't think CBDC will kill stable coins.
Two different thing.
Crypto will have own market and exist there.

CBDC and crypto currency are two differebt thing, they will go on their part.
Crytp is decentralized system, and we all know about it.
CBDC is centralized system, it will make strong bank.
So, why must worry about it.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: dekafee79 on February 23, 2022, 06:28:05 AM


There are some people who are in the government especially those departments dealing with money, banking and finance who are convinced that CBDCs is the killer of stablecoins and maybe even cryptocurrency for that matter. However, they way am seeing it is that CBDCs can even be complimenting cryptocurrency as it will be so easy and mobile to be using fiat money when they could be in pure digital form. The only way to "kill" cryptocurrency is to ban it just like what China is doing and you must have an authoritarian type of a government wo willing to use surveillance technologies to get the ban done.

I agree with you, I think CBDC will not kill stable coins.
CBDC will support bank transaction and always be there.
Stable coins will be pairing on crypto transaction.
But let's see what happen at the coming future, If CBDC will go in crypto with CEX, I think It will affect to stable coins of crypto such as USDT.
Maybe other members have other opinion here.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: de_prof on February 23, 2022, 09:58:48 AM
I fully agree that digital money will completely replace fiat, because today most of them use contactless payments. In fact, using contactless payments and online transfers, we are already using digital currency.

agree, digital era will come.
Crypto currency will lead all currency at the coming future.
I think CBDC will not kill crypto, especially stable coins.
Crypto will exist until the digital era come, I believe everything will be crypto.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: satpol_PP on February 23, 2022, 05:20:51 PM
I fully agree that digital money will completely replace fiat, because today most of them use contactless payments. In fact, using contactless payments and online transfers, we are already using digital currency.

agree, digital era will come.
Crypto currency will lead all currency at the coming future.
I think CBDC will not kill crypto, especially stable coins.
Crypto will exist until the digital era come, I believe everything will be crypto.

me too, I also believe about digital will come at the next several years again. Although crypto needs internet connection, but I believe the government will solve the connection problem.
CBDC also will exist there.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: nakmantu99 on February 23, 2022, 07:12:36 PM
Yes. I think CBDCs are only legal tender in a country, not killing existing stable coins. blockchain is freedom, many people like financial freedom without anyone's interference

I agree with you mate, CBDC just legal tender and won't kill stable coins like USDT and other.
I also believe crypto currency will survive and exist beside CBDC from the government.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: DAMKAR on February 24, 2022, 03:13:04 AM
Yes. I think CBDCs are only legal tender in a country, not killing existing stable coins. blockchain is freedom, many people like financial freedom without anyone's interference

I agree with you mate, CBDC just legal tender and won't kill stable coins like USDT and other.
I also believe crypto currency will survive and exist beside CBDC from the government.

I have read many opinions here, they said CBDC will never kill stable coin, I think I agree with this.
CBDC is centralaized , has been control by bank.
Stable coins is suitable for crypto transaction.
Maybe when CBDC goose in crypto exchange, I think It will have effect to stable coins.
It's just prediction, but maybe wrong.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Astra on April 25, 2022, 11:24:51 AM
State CBDCs will certainly compete with private and other stablecoins that existed before they were introduced. However, their mode of operation is slightly different, so they will have to exist in parallel. Private stablecoins can only disappear when governments prohibit the use of their currency as collateral for these stablecoins. Without such a ban, or a ban on the stablecoins themselves, they can move at the same time, complementing each other with their different capabilities.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Speaker on April 25, 2022, 12:34:25 PM
For me, CBDC is just a digital form of traditional fiat currencies. They will not compete in any way - they have different tasks and different ways of development.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: satpol_PP on April 25, 2022, 02:53:24 PM
For me, CBDC is just a digital form of traditional fiat currencies. They will not compete in any way - they have different tasks and different ways of development.

As I said before, both are different thing
CBDC is just digital form of traditional fiat, not digital currency.
Different to crypro that really digital currency.
So I don't believe CBDC will kill crypto currency or stable coins
Never.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: pacar_tiri on April 26, 2022, 09:38:21 PM
CBDC is the government crypto that based on centralized platform.
I think It's not a threat for crypto currency.
No worries about this situation.
Both will survive on their rule.
I think crypto will win this competition.
Let's see.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: MrSpasybo on April 26, 2022, 11:53:45 PM
We come back to CBDC in 2022, I was expecting it to be the driving force for the crypto market in 2020 but in the end DeFi took the spotline. I believe CBDC is good news for the crypto market as more people have access to blockchain technology. Of course, I hope CBDC will be created on blockchain instead of a centralized technology.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: smart_oa on April 27, 2022, 01:23:34 AM
CBDC will not do anything because those people who do not want to accept crypto as a currency also do not support CBDC. People just do not trust banks to control their money so CBDC will be highly unpopular and it is possible that enforcement of CBDC will force people to use crypto as an alternative because they both can serve the same purpose.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Jaephoenix on April 27, 2022, 01:33:54 AM
Crypto stablecoins are not going anywhere fast. It is the only anchor a regular crypto user utilizes in a turbulent market. One can't do away with them because you actually cannot use CBDCs in crypto, unless it is pegged
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: bayiajaib on April 27, 2022, 04:03:09 PM
CBDC will not do anything because those people who do not want to accept crypto as a currency also do not support CBDC. People just do not trust banks to control their money so CBDC will be highly unpopular and it is possible that enforcement of CBDC will force people to use crypto as an alternative because they both can serve the same purpose.

CBDC is created by the government ,to compete crypto currency.
But I don't think CBDC will do.
Because CBDC cannot work on crypto currency exchange now.
maybe at the next time.
I still believe CBDC will not kill crypto.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Senin on June 09, 2022, 05:37:27 PM
CBDC will not do anything because those people who do not want to accept crypto as a currency also do not support CBDC. People just do not trust banks to control their money so CBDC will be highly unpopular and it is possible that enforcement of CBDC will force people to use crypto as an alternative because they both can serve the same purpose.

CBDC is created by the government ,to compete crypto currency.
But I don't think CBDC will do.
Because CBDC cannot work on crypto currency exchange now.
maybe at the next time.
I still believe CBDC will not kill crypto.
No, states are not introducing their CBDCs to compete with cryptocurrencies. First of all, they try to make their non-cash payments more efficient. After all, it is no secret that digital currency is faster and more cost-effective compared to non-cash payments of states that use the long-outdated SWIFT system.
How CBDCs will interact or conflict with existing private stablecoins, time will tell. So far we have no such experience.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Freemind on June 09, 2022, 08:04:24 PM
What has not yet been publicly presented by any government that is working on its own CBDC is the security measures that they are going to take, and I think that's the most important thing. In any case, I don't think CBDCs will change stablecoins at all, they will just complement each other like FIAT is doing now. Although there are still few countries that work with CBDC and there is still time for citizens to use them, I hope they will publish more information about security, anti-theft measures and more.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Doctor on June 10, 2022, 04:18:19 PM
CBDC will not do anything because those people who do not want to accept crypto as a currency also do not support CBDC. People just do not trust banks to control their money so CBDC will be highly unpopular and it is possible that enforcement of CBDC will force people to use crypto as an alternative because they both can serve the same purpose.

CBDC is created by the government ,to compete crypto currency.
But I don't think CBDC will do.
Because CBDC cannot work on crypto currency exchange now.
maybe at the next time.
I still believe CBDC will not kill crypto.

agree with you, CBDC won't kill crypto currency, they will grow together.
And we know anything will be crypto at the coming future.
I believe about it.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: yetti on June 11, 2022, 06:14:24 AM
I don't think anyone knows that this stable coin has very high security because when they mistakenly adopt another project, they can get a loophole to knock down the coin like what happened to UST. so you should be careful about adopting new cryptocurrency projects.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: mahadev on June 11, 2022, 03:17:11 PM


There are some people who are in the government especially those departments dealing with money, banking and finance who are convinced that CBDCs is the killer of stablecoins and maybe even cryptocurrency for that matter. However, they way am seeing it is that CBDCs can even be complimenting cryptocurrency as it will be so easy and mobile to be using fiat money when they could be in pure digital form. The only way to "kill" cryptocurrency is to ban it just like what China is doing and you must have an authoritarian type of a government wo willing to use surveillance technologies to get the ban done.

Keep calm mate, I don't think CBDC will kill stable coins.
I think it's good for competition from government and crypto fans.
Crypto currency will survive and compete with anything
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Noverteno on June 22, 2022, 08:12:36 AM
CBDCs cannot kill current stablecoins. This can be done, if desired, by the states themselves, if they prohibit anyone from using their national currency as collateral for stablecoins. And states can and have the right to do so. In this case, fiat-backed stablecoins will be outlawed and only those backed by other financial assets, such as gold, silver, precious stones, and securities, will officially work.
When CBDCs start appearing en masse, we will be able to see the reaction of states to the current stablecoins.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Senin on June 28, 2022, 06:41:30 PM
Well, it could very well be. In preparation for the launch of its digitized yuan, China passed a series of laws that were aimed at protecting it. Among them, it was forbidden for anyone to use the yuan as collateral for other stablecoins. We do not know what security measures governments will take when mass issuing their CBDCs. However, some are already saying that CBDCs will be direct competitors to the current private and commercial stablecoins. Current stablecoins may not kill CBDCs, but state regulation in their defense.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Peter90 on June 30, 2022, 10:43:56 AM
No, states are not introducing their CBDCs to compete with cryptocurrencies. First of all, they try to make their non-cash payments more efficient. After all, it is no secret that digital currency is faster and more cost-effective compared to non-cash payments of states that use the long-outdated SWIFT system.

CBC = Central Bank Currency = Fiat currency
CBDC = Central Bank Digital Currency = Fiat currency digitalised

As you say, states are not introducing their CBDCs to compete with cryptocurrencies, but to make the payment system more efficient,
but as a logical consequence, they will make stablecoins backed by fiat useless:
all being equal in term of efficiency, why would you use a stablecoin backed by a CBC when you can use a stablecoin which is a CBC? (Why would you use Tether when you can use digitalised $?)

CBDC is not backed by CBC, it is CBC, in digitalised form.
Compared to a CBDC, a stablecoin backed by CBC offers no advantages but only an extra layer of complexity, costs, risks... less efficiency.

So, unless CBC-backed stablecoins offer a better technology than CBDC (could happen), in my opinion CBDC will eliminate fiat-backed stablecoins.
But CBDC won't eliminate hard assets-backed stablecoins, like gold-backed stablecoins  :D
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Peter90 on July 18, 2022, 01:24:01 PM
Stablecoins are better than CBDC: Bank of Australia Governor
 (https://www.cryptopolitan.com/stablecoins-are-better-than-cbdc-philip-lowe/)
According to Bank of Australia Governor Philip Lowe, private firms’ stablecoins could be superior to central bank-issued digital currencies (CBDC).
The comparison is better if the businesses are properly regulated.
Phillip Lowe feels there are dangers in dealing with cryptocurrency that strong regulations may reduce, but private companies should create the technology.

Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Bobcrypto on July 24, 2022, 05:12:02 PM
I think that government stable coins, the  CBDC may not compete with the decentralized stable coin like USDT, BUSD, USDC, because they are centralized. Crypto stable coin will take the day because many people desired financial freedom and on such situations, very many people may not patronize the government owned stable coins. Government owned CBDC will face several setbacks because it may not be verifiable on a public Blockchain.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: pelana vreo on July 26, 2022, 09:56:55 AM
Cryptocurrencies have a good side which is transparency, but some developers in the crypto space seem to want to create a decentralized stable coin like UST, in the end we can see the system fail, because there is no fiat guarantee that can stabilize the price, CBDC will be good if the country wants accept cryptocurrency for payment options in digital banks, this is very remarkable and has a good impact on the progress of stable coins on other platforms
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Astra on November 30, 2022, 06:13:50 AM
I think that government stable coins, the  CBDC may not compete with the decentralized stable coin like USDT, BUSD, USDC, because they are centralized. Crypto stable coin will take the day because many people desired financial freedom and on such situations, very many people may not patronize the government owned stable coins. Government owned CBDC will face several setbacks because it may not be verifiable on a public Blockchain.
It should be borne in mind that for many people, the security of using digital money is more important than the concept of centralization or decentralization. Private and other non-public stablecoins will periodically crash due to various objective and subjective reasons, as we already see. At the same time, behind the CBDC is the power of the state, which goes bankrupt very rarely. Therefore, the CBDC of a strong state, from the point of view of many people, will be much safer to use than the currently existing private and other commercial stablecoins. But how this will play out in practice, we will be able to see when CBDCs will be mass-produced by states.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: naitik01 on December 15, 2022, 04:12:54 PM
In my opinion CBDC stable is not going to have any effect as both the platforms are different and the process is different. Recently, the Reserve Bank of India has launched its CBDC as a digital currency pilot project, which is not going to have any effect on crypto.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: IyemRoker on January 05, 2024, 07:29:04 AM
-
CBC = Central Bank Currency = Fiat currency
CBDC = Central Bank Digital Currency = Fiat currency digitalised
(https://i.imgur.com/GLyjdrH.png)
I take this picture from Google
Well, I just found out the meaning of CBC and CBDC and this made me think hard about being able to discuss this part of the thread.
Maybe an example like this:
-CBC    = Central Bank Currency = Fiat currency = USD, YUAN, YEN, EURO, Pound Sterling
-CBDC = Central Bank Digital Currency = Fiat currency digitized = USDT , USDC , FDUSD


Is it really like that, friend?

Then this thread discusses that this CBDC is very risky and could be a threat to stable coins in cryptocurrency.
It seems like I have to first understand the function of this CBDC because I don't know the vision and mission yet but the function seems to be Digital FIAT money, like USD but in digital form in a wallet.
Digital USD in the wallet will also not kill the circulating condition for USDT, USDC because it is a different concept.
The Digital USD created by CBDC may be a companion pair for trading and for withdrawals to Mastercard or Visa .
USDT and USDC can be used in the cryptocurrency environment, such as arbitrage or adding LP in DEX and various functions involved in the cryptocurrency circle. CMIIW
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Peter90 on January 07, 2024, 12:46:03 AM
CBC = Central Bank Currency = Fiat currency
CBDC = Central Bank Digital Currency = Fiat currency digitalised
(https://i.imgur.com/GLyjdrH.png)
I take this picture from Google
Well, I just found out the meaning of CBC and CBDC and this made me think hard about being able to discuss this part of the thread.
Maybe an example like this:
-CBC    = Central Bank Currency = Fiat currency = USD, YUAN, YEN, EURO, Pound Sterling
-CBDC = Central Bank Digital Currency = Fiat currency digitized = USDT , USDC , FDUSD


Is it really like that, friend?

Almost!  :D

USDT, USDC... are stablecoins issued by private companies.

CBDC are issued by public entities, for example Central Bank or Ministry of Finance of a country.




Then this thread discusses that this CBDC is very risky and could be a threat to stable coins in cryptocurrency.
It seems like I have to first understand the function of this CBDC because I don't know the vision and mission yet but the function seems to be Digital FIAT money, like USD but in digital form in a wallet.
Digital USD in the wallet will also not kill the circulating condition for USDT, USDC because it is a different concept.
The Digital USD created by CBDC may be a companion pair for trading and for withdrawals to Mastercard or Visa .

Imo you are right IR.

The basic difference between CBDC (= public stablecoins) and USDT, USDC etc. (= private company stablecoins) is that the CBDC are controlled by public entities  like Central Bank or Ministry of Finance etc. so...

a) Central Bank and politicians can create and multiply the quantity of CBDC as they like, just as they do with fiat currency;
b) they can give the CBDC they create to whomever they want to;
c) they can control the blockchain these CBDC run on, so they can know every transaction. Nothing can be hidden anymore. They can see what enters and what exit any wallet. They can block any wallet any time.

So the vision, the mission and the function of CBDC seems to be total control over money movements.

I agree with you that CBDC won't necessarily eliminate private stablecoins.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Brewmaster on January 20, 2024, 05:04:39 AM
The statement "CBDCs will not kill stablecoins/cryptos" reflects a common perspective in the cryptocurrency space. Central Bank Digital Currencies (CBDCs) and stablecoins serve different purposes, and their coexistence is plausible.

CBDCs are government-backed digital currencies, while stablecoins are often pegged to fiat currencies or other assets. Each has its unique features and potential use cases. Some argue that CBDCs could complement stablecoins, providing a regulated and secure digital currency option, but they may not necessarily eliminate the utility or demand for other cryptocurrencies.

Ultimately, the evolution of this landscape will depend on regulatory developments, market dynamics, and the specific roles these digital currencies play in the broader financial ecosystem.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: masudginanjar on January 22, 2024, 06:48:22 AM
- Central Bank Digital Currencies (CBDCs) and stablecoins serve different purposes, -
You have written it correctly and it has been seen as clearly since the first time USDT tether was created, maybe in 2013 or before.
USDT tether or coin stable at that time also only stabilized the value in the market and until this sat the value remains only 1 USD there was no change.
Maybe the difference is between USDT only a little with the real USD currency from CBDC, there is no problem in my opinion about Central Bank Digital Currencies (CBDCS) and stable coins in Cryptocurrency because both of them are true as you said "has different purposes".
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Charles-Tim on January 22, 2024, 11:50:58 AM
The only way to "kill" cryptocurrency is to ban it just like what China is doing and you must have an authoritarian type of a government wo willing to use surveillance technologies to get the ban done.
Bitcoin has been banned several times in China. A ban that got bitcoin mining to zero in China? Later China become and still has the second highest mining hashrates. Cryptocurrencies are not seen as currency in China but seen as a digital property can be legally owned.

Maybe the difference is between USDT only a little with the real USD currency from CBDC, there is no problem in my opinion about Central Bank Digital Currencies (CBDCS) and stable coins in Cryptocurrency because both of them are true as you said "has different purposes".
What is the different purposes that fiat pegged coins and CBDCs have? They are different but their purposes seem like the same.
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: masudginanjar on January 23, 2024, 09:54:59 AM
What is the different purposes that fiat pegged coins and CBDCs have? They are different but their purposes seem like the same.
This is just my imagination, maybe I was wrong to judge the difference between the two of the USDT and CBDC.
I will try to explain in my view:
 -USDT is traded in markets that have a basic basis of cryptocurrency, such as Binance, Kucoin, Huobi etc.
 -CBDC traded in markets that have a basis not cryptocurrency, for example Amazon, Alibaba etc.

Maybe the understanding that I interpret from USDT and CBDC is different from your understanding.
But this is a vision of me because honestly I also do not know what CBDC is and what type of CBDC is like, if you think what about CBDC and USDT?
Title: Re: CBDCs Will Not Kill StableCoins/Cryptos
Post by: Peter90 on January 23, 2024, 11:15:34 PM
What is the different purposes that fiat pegged coins and CBDCs have? They are different but their purposes seem like the same.

CBDCs and fiat pegged cryptos can have the same value - for es. 1 $ - but are completely different currencies:
- CBDCs are created by the Central Bank i.e. by the monetary authority of a country.
- fiat pegged cryptos are created by the company issuing them.