Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Findingnemo on October 23, 2024, 07:44:33 PM
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
I don't think CBDC is crypto because it is a country fiat currency but in a digital form and has the same value of the country currency. Will I say that it is similar to crypto but not crypto. Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.
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CBDCs are not cryptocurrencies.
I don't think CBDC is crypto because it is a country fiat currency but in a digital form and has the same value of the country currency. Will I say that it is similar to crypto but not crypto.
Not that I think but I know that CBDCs are not crypto. They are fiat that make use of blackchain technology. The countries that created CBDCs also said it is not cryptocurrencies but different. If you check the sites that are listing cryptocurrencirs, no CBDCs are listed among them.
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Since crypto is categorized as digital currency and there are different types of them like volatile coins and stable coins then I think CBDC is considered as crypto though centralized ones and maybe as long as it uses cryptography then it might be called that way.
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
Its not crypto because there is a single point of failure, anyone from above can give a direct order for funds to be confiscated and it will be done right away but atleast some altcoins are not as terrible as the CBDC unless if it's exchange and I'm sure that everyone has options to use their personal wallets instead of any exchanges.
CBDC is also regulated and on watch list of the government which means they can do and undo, they can stop the network for their usual maintenance routines and may even go put of coverage, if you understand banks, you should understand what I'm saying, anything government related aren't to be trusted.
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
is there any cryptocurrency you heard where the tokens can be frozen and suspend?
its been said that CBDC can do all these and even prevent a user from buying something. so if your answer is YES, then i may therefore conclude CBDC can be crypto using blockchain.
we have heard of news about this stablecoin that can be frozen and exchanges are participating to stop a transaction. we may call it a regulation in a centralized system but its gonna be called differently if suspension/freezing of funds happens in a decentralized platform.
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CBDC are centralised and regulated, controlled by the government which I do not see it convenient because it is monitored by the government and one does not enjoy that freedom as it is to other Crypto. So I do not think it is called a Crypto. It is just a kind of a digital fiat owned by the government. It is centralised and the system can not be trusted.
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CBDC is the complete opposite of cryptocurrencies, in my opinion it is worse than fiat too.
CBDC is the complete opposite of cryptocurrencies as it is centralized and completely controlled by the government where it can block any transaction or freeze anyone's account it wants, this is a complete violation of privacy and financial freedom.
The government doesn't even have to print paper money all it has to do is mint more and more of this garbage currency on computers.
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The answer should be obvious no? The issuers of CBDC don't even consider it as cryptocurrency. Aside from being a digital fiat using blockchain, I also liken it to a centralized stable coin such as USDT but with different backer/issuer and has more restrictions.
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
- Like you, I don't even recognize CBC as a crypto. So if any country is going to use its CBC, I see only one thing they want, and that is to have access to all the transactions that the holders will do with the assets they hold.
It seems that the only thing that will happen there is that their treatment is similar to that of fiat currency, but not as a pure crypto asset; they will just make it appear that it is crypto as if we still hold the privacy, but in reality it is not really.
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CBDC is the complete opposite of cryptocurrencies, in my opinion it is worse than fiat too.
CBDC is the complete opposite of cryptocurrencies as it is centralized and completely controlled by the government where it can block any transaction or freeze anyone's account it wants, this is a complete violation of privacy and financial freedom.
The government doesn't even have to print paper money all it has to do is mint more and more of this garbage currency on computers.
I agree with you, CBDC is the opposite of crypto where it is centralized and the government can regulate and freeze accounts as they wish. Whereas people who invest in crypto want financial freedom, I think CBDC is just a digital currency created by the government that has the intention of competing with crypto but in reality is far from the function and benefits of crypto itself.
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As generally accepted by the whole cryptocurrency industry and its many supporters worldwide, CBDC by definition can not be categorized as part of the cryptocurrency thing but they can be integrated later just like the fiat money. CBDC are under the power and influence of the government issuing them...technically they are the digitalized fiat money by the country giving them the ascendancy in the market. And just like fiat, CBDC could never be decentralized and can even be a tool for more control on the part of the central bank and the government. CBDC can mean more power to the government whereas cryptocurrency most especially BTC can mean more power to the people.
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Technically if they have their blockchain then they could be called crypto. However, it's utility and function are totally different with what we understand of crypto itself, like being a investment vehicle and it should be decentralized.
And we all know that this is controlled by the government itself so no, it's not even cryptocurrency for us who understand how everything works from behind. And we all know that government created this one to give illusion to their crypto based population that they are supporting crypto in general but it's not.
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Technically if they have their blockchain then they could be called crypto. However, it's utility and function are totally different with what we understand of crypto itself, like being a investment vehicle and it should be decentralized.
And we all know that this is controlled by the government itself so no, it's not even cryptocurrency for us who understand how everything works from behind. And we all know that government created this one to give illusion to their crypto based population that they are supporting crypto in general but it's not.
It would be a crypto, but centralized and for the purposes that wouldn't align with people, but with entities bigger than them ;D
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CBDC can mean more power to the government whereas cryptocurrency most especially BTC can mean more power to the people.
CBDC will give a complete trail of transactions to the government entities at any time about any user and that's more easier to identify than even the fiat money and also CBDC can put an end to the small banking sectors too, only the big players will be controlling every monetary TXs and we often forget that issuer of fiat or CBDC is central banks which are not directly controlled by the government either, it could be by anyone who the influential people want them to be.
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CBDC can mean more power to the government whereas cryptocurrency most especially BTC can mean more power to the people.
CBDC will give a complete trail of transactions to the government entities at any time about any user and that's more easier to identify than even the fiat money and also CBDC can put an end to the small banking sectors too, only the big players will be controlling every monetary TXs and we often forget that issuer of fiat or CBDC is central banks which are not directly controlled by the government either, it could be by anyone who the influential people want them to be.
Maybe those influential people can control CBDC and the government can also interfere with the central bank, because the government has the power. Moreover, the centralization of the system, it is easy for those who have power to control it.
We don't know what CBDC will do in the future, whether to compete with crypto or just a digital currency.
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Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.
I don't think governments are creating CBDCs to make their citizens shy away from crypto, rather I feel they do so because they understand the advantages of blockchain technology, and want to make use of it.
To op, I don't consider CBDCs as crypto, because here central bank has authority over everything, whereas crypto is comparatively more decentralized.
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As the title says, do you even consider CBDC as part of crypto currency?
The only sets of individuals that will consider CBDC to be cryptocurrency are people who are less informed, because if you have information, you will understand that CBDC's were only created by the government to distract people from crypto currency itself, so it can't be considered cryptocurrency even though it shares some slight similarities. My joy about CBDC's is that it's introduction has exposed many people to cryptocurrency itself, based on the constant comparison that will always be made between the two.
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
I don't think CBDC is crypto because it is a country fiat currency but in a digital form and has the same value of the country currency. Will I say that it is similar to crypto but not crypto. Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.
Central Bank Digital Currency (CBDC) is like Cryptocurrency But it is not Cryptocurrency i also think. CBDC is digital currency. It control By Central Bank and by the government..We konw cryptocurrency is not regulated by any Government. But CBDC is controlled by Government. CBDC created for thats countries people’s transection. But Cryptocurrency is fully decentralised.
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The government deliberately created CBDC to make people switch from crypto to something they can control, right? Hmm, they always tout digital currency, however, the only thing they prioritize is that in essence, they must still be able to control that digital currency, and make their citizens aware of the CBDC they create, then emphasize to their citizens to prefer the CBDC they issue rather than crypto.
The only thing they might popularize is that they are part of cryptocurrency because they are also made on the blockchain, and they have claimed that CBDC is no different from cryptocurrency, but with the legal status of the government, the only difference is, they regulate, regulate, and control the CBDC.
Then in essence, what is the difference with the money they have created so far? And until now, CBDC has only been often echoed but has not been properly realized by governments in various countries. maybe, this will be partly a fake or stalled project, or even if it is published, will it be that successful, maybe if it is forced. hahaha
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
I don't think CBDC is crypto because it is a country fiat currency but in a digital form and has the same value of the country currency. Will I say that it is similar to crypto but not crypto. Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.
Central Bank Digital Currency (CBDC) is like Cryptocurrency But it is not Cryptocurrency i also think. CBDC is digital currency. It control By Central Bank and by the government..We konw cryptocurrency is not regulated by any Government. But CBDC is controlled by Government. CBDC created for thats countries people’s transection. But Cryptocurrency is fully decentralised.
Agreed, CBDC was designed to serve as a transaction device that can be fully controlled and regulated by the central bank and government, and fully meet their needs in terms of regulating the circulation of the currency. At the same time, cryptography-based electronic currency, which do not have a central body, is to perform transactions without reference to the authorities that now dictate who is allowed to pay who and vice versa. Cryptocurrencies on the other hand, are created with different ideas, which entails that CBDC aims at strengthening the economic status within a country, and cryptocurrencies are simply known to be liberating and anonymous in usage.
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Then in essence, what is the difference with the money they have created so far? And until now, CBDC has only been often echoed but has not been properly realized by governments in various countries.
In my country, I think they're essentially trying to replace digital fiat with something they can control even more easily. This will force digital wallet apps and banks in general to use their centralized currency instead of converting users' deposits to their own digital currency which is disconnected from government monitor. Its wide availability is planned for 2030 IIRC, so we're still a long way off for that. I don't think end users will notice any difference between CBDC and the current digital fiat, to be honest. I don't think my government calls it a cryptocurrency either. CMIIW.
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As the title says, do you even consider CBDC as part of crypto currency?
nope it’s just fiat in digital form and crypto is not defined simply as just being digital there’s many features of crypto that do not apply to cbdcs
if we were to use blockchain technology in other industries for example medicine and politics we wouldn’t call those crypto just because they are using blockchain tech so even if cbdc tries to appear as if they are like crypto and a “better alternative” it is still fiat and they shouldn’t be grouped together with crypto
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
CBDC, in my opinion is just tied to the blockchain but not decentralized, and in this case, I personally see it as government fiat that is launched on the blockchain, and it is under government control.
If it is not decentralized, it not Cryptocurrency and I can't be trusted to work in the way as any crypto coin does. As far as crypto are concerned, decentralization remains the number one basic feature and this is completely lacking on CBDC. In short, CBDC is just government money deployed on the blockchain.
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As far as i know CBDC is not a cryptocurrency and is a central bank digital currency. Moreover, it is considered to be used as digital fiat currency or digital base money. Although CBDC may share some characteristics with virtual currencies and cryptocurrencies such as programmability in terms of usage. Even instead of printing money the electronic tokens or accounts are issued here. As a result the pressure on liquid money will be reduced and the cost of printing money will also be reduced. It will take seconds to transact and free people from the hassle of fake money.
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Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.
I don't think governments are creating CBDCs to make their citizens shy away from crypto, rather I feel they do so because they understand the advantages of blockchain technology, and want to make use of it.
Nah, it's a little bit of both. True that the application or usage of CBDC that I've read so far are for B2B transactions but I also expect it to be forced onto the regular bank users years later. Let's not forget that central banks across different countries have been issuing warnings against crypto and calling for ban before CBDC came along.
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It is not a crypto, it is not a stable coin because what CBDCs are local currencies that are backed by the government and that means that they're not. Because governments aren't for these things and that's why they are making their own version of it.
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CBDC is just a digitalization of currency carried out by the central bank... I can't say it's a cryptocurrency for now, because the application in my country has not happened so I'm not so sure to call it...
However, according to information circulating from countries that have conducted trials, CBDC is more towards a government currency with a fixed value... everything is centralized and they might use it to make it easier for people to understand cryptocurrency if they use blockchain.
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
CBDC is not a part of cryptocurrency but they do use the blockchain technology and blockchain technology is the part of cryptocurrency. In other words you can call CBDCs a digital form of finance using blockchain technology but the only difference is it's the centralized version and not developed and controlled by individuals or normal citizens but from a government.
They can seize funds, charge extra taxes, and and do whatever they want with your funds placed on CBDCs. They are not good for cryptocurrency adoption but minds of people using CBDCs can change to use crypto instead with time.
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I don't think CBDC is crypto because it is a country fiat currency but in a digital form and has the same value of the country currency. Will I say that it is similar to crypto but not crypto. Government are creating their own CBDC to make their citizens shy away from crypto but it is nothing but fiat in an advance way.
Yeah, it's just a digital version of fiat, like the money in our bank accounts. The only difference is that it's a bit more decentralized, as it'll be operated on ledgers across several bank branches. But at the end of the day, a CBDC is still a financial tool under the centralized control of governments and central banks.
I would never consider a CBDC to be crypto. It doesn't use a public blockchain, and it's not owned by the community. A CBDC is just a tool for governments to increase their financial control over people.
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CBDC is not cryptocurrency, it is fiat, its existing only in a digital form and being controlled by the government with the same monetary policy that guides the use of every other fiat physical form of currencies like notes, cryptocurrency like bitcoin is not centralized and will never be, many will have to understand the ways through which they can be able to identify the differences in CBDC and crypto.
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CBDC is not cryptocurrency, it is fiat, its existing only in a digital form and being controlled by the government with the same monetary policy that guides the use of every other fiat physical form of currencies like notes, cryptocurrency like bitcoin is not centralized and will never be, many will have to understand the ways through which they can be able to identify the differences in CBDC and crypto.
Well, just because the government does not want to be left behind by the rise and development of Bitcoin and cryptocurrency in general, that's why they plan to create a CBDC. but it's still actually fiat, they control it, and it remains under their auspices, centralized is still applied in CBDC, very different from crypto which is usually more centralized. but indeed CBDC is also made on the blockchain, it's just that the purpose is quite different. that's why there is still a debate about whether it is crypto or not. but for me, I don't think it is.
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CBDC is not cryptocurrency, it is fiat, its existing only in a digital form and being controlled by the government with the same monetary policy that guides the use of every other fiat physical form of currencies like notes, cryptocurrency like bitcoin is not centralized and will never be, many will have to understand the ways through which they can be able to identify the differences in CBDC and crypto.
That’s correct, CBDC is a fiat currency created and operated in the digital realm as a central-bank-issued means of payment and can enable governments to provide better control over the money supply. On the other hand, cryptos such as Bitcoin depends on blockchain that is not affiliated to governments or centralized organizations. This is important because whereas in CBDC every single transaction and user balance can be changed or suppressed by the CB, in crypto like Bitcoin, the public transaction ledger runs on an open network that is backed by cryptographic alchemy and consensus from miners or validators around the world. As the warfare of the digital economy intensified some large countries like China with the Digital Yuan have launched CBDC as an effort to manage the process while adoption of cryptocurrencies as per principles of open finance increases worldwide because it is devoid of central manage under the crypto umbrella.
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As the title says, do you even consider CBDC as part of crypto currency?
I don't see it as a crypto, just because blockchain technology is used doesn't mean it's crypto for me because the basic essense of crypto I know is decentralisation so anything that lean towards centralisation is moving away from crypto and there is CBDC which is the extreme level of centralisation and not really any different from digital Fiat.
Well,if you look at it, cryptocurrencies are basically digital currencies,i mean, isn't that what defines it?
Anyways,CBDC moves away from the core feauture of most digital cryptocurrencies which is decentralisation.CBDC as a digital cyrrency is basically controlled by the government,individuals or normal bussiness investors can't basically chamge the way the CBDC market moves since the government controls it's movement in thearket and not the investors.
I guess this is where your concern is being drawn from if i am right.CBDC is considered a cryptocurrency since it's digital but it withdraws itself from the sole purpose of most cryptocurrencies which is decentralisation.It is basically more centralised.
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CBDCs are not cryptocurrencies and have absolutely nothing to do with cryptocurrencies for the simple fact that they can be used digitally. I have always thought that CBDCs are another way to control the citizens of any country where they are used since the difference between CBDCs and the credit cards that we use today from our mobile device is non existent.
It must also be taken into account that it is still a system in testing in most countries, and the security problems that will appear during the first weeks (which will be many and very serious, taking into account the current banking system) will cause testing to drag on for a long time.
CBDCs are not an advance, they are a delay in freedoms.
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I think that you could be discussion a best comment in your post. So i think express your comment is very prefer in this moment. I don’t think CBDC is also a prefer crypto in crypto currency market. If we follow in cryptocurrency market, we can see that CBDC is also including in blockchain technology. But if CBDC contain in fully crypto in cryptocurrency market, i believe that it will be very profitable to starting time in cryptocurrency market.
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The Cbdc seems to be no different from fiat; of course the government will control the assets that will be held by people who love crypto who will think that crypto will also come under the CBDC. Here there will be confusion among those who do not know about this matter.
If I'm the only one, I don't support that CBDC, so if the government adopts it here, I won't be able to do anything about it, but even if they regulate it here, I will still do everything I can to prevent it from being used. still.
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I agree that for me too, CBDCs are not crypto currencies, they are just a ploy by various governments to push citizens not to use fiat and increase control over them
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The Cbdc seems to be no different from fiat; of course the government will control the assets that will be held by people who love crypto who will think that crypto will also come under the CBDC. Here there will be confusion among those who do not know about this matter.
If I'm the only one, I don't support that CBDC, so if the government adopts it here, I won't be able to do anything about it, but even if they regulate it here, I will still do everything I can to prevent it from being used. still.
I also do not support CBDC, because I want financial freedom and I get it at Crypto. The government can regulate and supervise CBDC, that is a consideration why I do not like and prefer crypto as an investment and transact with crypto.
Because CBDC is no different from Fiat, just only digital.
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The Cbdc seems to be no different from fiat; of course the government will control the assets that will be held by people who love crypto who will think that crypto will also come under the CBDC. Here there will be confusion among those who do not know about this matter.
If I'm the only one, I don't support that CBDC, so if the government adopts it here, I won't be able to do anything about it, but even if they regulate it here, I will still do everything I can to prevent it from being used. still.
I also do not support CBDC, because I want financial freedom and I get it at Crypto. The government can regulate and supervise CBDC, that is a consideration why I do not like and prefer crypto as an investment and transact with crypto.
Because CBDC is no different from Fiat, just only digital.
We want more of this independent financial freedom, something that crypto presents than CBDCs that are usually controlled by governments. As a result of cryptocurrency, consumers and investors are likely to live freer lives through more transparent renditions of P2P exchanges and investments freed from the constraining digits of control present in other purely digital forms of currency like central bank digital currencies or CBDCs.
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I also do not support CBDC, because I want financial freedom and I get it at Crypto. The government can regulate and supervise CBDC, that is a consideration why I do not like and prefer crypto as an investment and transact with crypto.
Because CBDC is no different from Fiat, just only digital.
However, there are some interesting things about CBDC that might make us familiar with some things that are identical to cryptocurrency... the simplest is the execution of p2p transactions using blockchain technology, which is also very influential for the needs of the cryptocurrency community... It is true, CBDC does not offer the privacy that some cryptocurrency enthusiasts dream of, but with the introduction of this blockchain technology, there is certainly a possibility for a few percent of its users to start being interested in learning about decentralized cryptocurrency.