Will CBDCs Destroy Bitcoin?

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All crypto currency , including bit coin will disappeared.

YES ! If the government can not control it , they will make it illegal and maybe even disappear .

Bitcoin could potentially go to zero if we are prevented from purchasing it due to Cbdcs!!

Bitcoin had it's run but billions of us average people rely on these banks and these banks holding trillions of dollars of transactions everyday. CBDC's are without a doubt happening nobody knows when could be in a year or two or even more but it will happen and it's not going to be with Bitcoin since bitcoin is decentralized and has so much dirty value it's never going to be trusted with an unknown Satoshi and it's ugly economics. If you were in bitcoin congrats you are retired if you were in early but the time will be done when CBDC's and the real money starts to join in. Unless they clean out bitcoin and all the shit ethereum and shiti coins run by exchanges it will take years to keep bitcoin in the loop. Expect Bitcoin crash hard till then and then will see all the shit coins gone. Real digital currency solving real problems. You can't go against trillionaires.

Could I get a transcript of this? A group of preppers wants me explain to them what's wrong with CBDCS and the threats to Bitcoin. Naturally I will make appropriate attribution. to you and Bitcoin University.

This analysis is delusional, the moment cbdc ban bitcoin, the price would drop near zero.

But wont the btc transactions be overlooked by the fed? I mean if they implement AI into looking at blokchain transactions they technically could trace it to you right?

Big black market ahead

they either gonna control it, or outlaw it. to use bitcoin you need a phone or an ip address thats registered in your name. There is no true hidding place.

Henry Ford in his wisdom once said “if you fail to plan then you plan to fail’ he realised he couldn’t get his car out of the garage because he built the doors too narrow! Motto of this story: get your bitcoin now!

I feel lucky I familiarized myself with crypto.
When I was in Italy 2 summers ago. Bitcoin was being accepted from some vendors. It was also offered in the ATMs there.

Presumably wouldnt it become madatory to transact in CBDC at some point? Also, how would forex work? What if your vendor won't accept your CBDC currency? As far as something like BTC goes while it may be a good long term backup asset, it would function absolutely horribly as a unit of account. Also, by law you'd probaby be forced to denominate your transactions in your local CBDC anyway.
I hope there is someone reading this who can answer these questions
Thanks

BTW, if you don’t have control of it, it’s not your property.

Cbdc is pure evil

you are right. government cannot prevent us to buy physical stuff to exchange it for bitcoin

The exact opposite. Bitcoin Will destroy cbdc as in venezuela ...

What's the difference from the invigilation aspects between cbdc and actual banking system? Goverment can always block your account, if i.e. you are suspected to commit a crime.

Holy wow what a great video…

Absolutely not. How else can the U.S. government hide funds it pays to outlaw organizations or bribes to cartel members without leaving a trail back to government funds. It needs crypto.

NO. The fear of CBDCs will make crypto more popular and pop their prices. Millions of people will be trading in their CBDCs for crypto and use cold storage wallets to save their money away from the government's eye and hand. They will trade crypto for CBDC when forced to use it to pay for an item.....You need to start collecting crypto. Prices will pop high. The government can never stop crypto. People will still trade it especially since countries have legalized it. Also U.S. federal reserve is adopting Crypto service providers.

China banned bitcoin. China is key.

What use will bitcoin or any other crypto be if you can’t spend it in the real world? The governments won’t allow companies to trade in bitcoin so if you’ve got a wedge of money in a coin and you’re from a country that blocks the use of that coin whay do you do? Move to a country that accepts it? And keep moving when that country inevitably locks the use of any other currency other than CBDC? The fact is the vast majority of the population don’t use crypto they use dollars pounds euros so there will be a black market for these coins online but you won’t be able to go shopping or buy a car with this currency so imo CBDC will absolutely kill off crypto. It’s like having a million dollars in Monopoly money yeah you’ve got it you just can’t spend it anywhere so it’s worth diddly squat and that’s what they’ll do to crypto currency’s make it impossible to trade with the. So they become worthless. Or you trade it online with other bitcoin users and then you’re putting your trust in people not companies so when you buy your lawnmower with bitcoin and it comes broken who do you go to for your money back because you’re not dealing with companies anymore only people and everyone is in it for themselves so good luck running your lives relying on people on the internet to provide you the goods you need for bitcoin I just cannot see this being sustainable

Wouldn't it be ironic if the government created a CBDC and because it's a poorly secured Centralized blockchain (with few validator nodes) gets hacked within the first year?! It's almost guaranteed to happen. Bitcoin is far superior to any Centralized Blockchain the government creates. The Nakamoto coefficient for Bitcoin is like 7,349 compared to Ethereum 34, compared to CBDCs probably less than 10.

cbdc is nighmare

I've been searching your videos so I can respond to someone who says because Bitcoin is tied to the US dollar, what happens if there is no dollar

CBDC will pump BTC even more! Stacking & HODLing!

The population doesn't care about being spied on. They volunteer for it every day when using "free" services on the Internet. Once CBDCs are here, people will prefer them over Bitcoin because of the superficial way CBDCs will be sold the population and because the population is largely superficial in their thinking. All things are valued by the population as a whole, not by its few passionate followers. If the population as a whole does not value Bitcoin, it will significantly decrease in value, and will remain only as an obscure technology experiment that ultimately led to the CBDCs. If you want to change that, you'll need to change the superficial nature of the population. Good luck with that.

Always great commentary.

Will CBDC impact forex trading?

With BTC and other cryptocurrencies not being accepted in everyday business locations like grocery stores and bill payments as well as the only way to make them valuable is to sell it convert it back to
Same
Currency your trying to avoid I feel like CBDC is going to
Be the nail in the coffin for crypto. I feel like Governments will just outlaw any bank or business from accepting crypto or BTC

How will you get to these countries that are Bitcoin friendly if you can't buy a ticket there. Your cbdc coin won't let you buy a ticket to leave? The U.S. could put the squeeze on Bitcoiners in a variety of different ways with ridiculous taxes and regulations. And then offer Bitcoiners a sweet deal to move their money to cbdc in an exchange rate that starts one to one and degrades over time. Many will have to abandon Bitcoin. Trust me man,. I love your channel and watch you regularly. How is it possible to defeat the powers that be / governments who will do everything in their power to extinguish decentralized cryptocurrencies.

My question is, if CBDCs are implemented in the US, what of the Dollar? And the “petrodollar”? Will other countries, even those who don’t like the US very much, use fake digital money that is programmable BY THE US???

Why would other countries give so much power to Americans? The US certainly can’t invade the whole world in order to pressure them to accept US CBDC!

Or will CBDCs be a global deployment? What about areas hostile to the west, like China, Iran, or Russia?

Algorand is running in the Marshall Islands, and read the FED is supporting the proyect (MIT) as the next CDBC for the US dollar, any comments?

To buy dollars in a developing country you go to a "cave" aka. clandestine exchange

👏👏👏👏👏👏

Beautiful stuff man! Your content is on a different level. 🔥

What will happen if there is no cash and their CBDC's got hacked ?

Extremely grateful for your videos. Thank you.

Great video.

Depends upon how regulated Bitcoin and other cryptos are. CBDCs by nature are authoritarian, so I would presume regulation will be severe!

Btc dominance not looking good though

useing bisq to buy bitcoin is real defi

You're a ponzi fool

We have been developing the 'alternative infrastructure for a free and sovereign future' for 9 years. If anyone is interested just comment. I would really like to get an interview with Matthew at some point, and I believe our platform is very close to the point that we should be ready for another massive influx of users.

There ARE alternatives, but the majority in the 'crypto space' are centralized things pretending to be decentralized, which is a major issue.

I’m still confused, can a government not define what constitutes as “legal tender”. So you may be able buy a lawnmower with CBDC, sell it for BTC, but what is the use of BTC if you can’t buy anything directly from a store/shop/dealer etc. if BTC is not legal tender. That’s not technically banning BTC, it’s merely determining what is legal tender. For example when the Uk recently changed from paper notes to plastic notes. Retailers are unable to accept the paper notes.
You could effectively make BTC worthless. This is where Gold differentiates, because even tho you can’t buy good and services directly with Gold (unless a pawn shop) you basically have to sell gold into USD to trade. Gold is a physical asset and also has a commodity use. If you can’t trade BTC with CBDC I’m not sure how it survives. The theory that if you buy a good for CBDC and sell for BTC becomes fundamentally flawed when BTC can’t buy you anything other than a second hand underground currency 🤷🏻‍♂️ I’m bullish on BTC but that’s until the next halving…after that, it may be time to sell….we’ll see

When the government banned weed, the value skyrocketed… government parasites don’t understand basic economics.

CBDC is significantly worse than their paper fiat garbage… another form of slavery. Hitler would have been proud of these “leaders.”

Great video, Just wondering though, cant the government already freeze citizens' assets if they want to? Like they do when they sanction foreign corporations and individuals as they did recently with certain Russian oligarchs? cant they already track what you buy with your money using your credit/debit cards?
if our government suddenly turns into something like the CCP they can do all the things you outlined even without CBDCs, although maybe a bit easier. Am I missing something?