People will not have the choice. Cash will be removed and will quickly disappear, as taxes, salaries and shops are massively nominated in the "official" currencies.
You're dreaming if you think some "underground" market will do. Do you think you will buy "underground" milk with sats in a cashless economy? Come on.
That's the main (and only) problem facing Bitcoin right now: people are not really using it as it should. How much of your monthly expenses are paid in BTC today? Why would that change when your whole country, all administrations, all shops have converted to digital fiat?
Sure thing, CBDCs will most probably be a dystopian nightmare.
But the only way to avoid this is to dramatically increase Bitcoin adoption, before 2025, to reach something like 1B users. And to make people understand that, instead of "trading" and "hodling", they should USE Bitcoin. Not a done deal. But if we get there, then CBDCs and Bitcoin can coexist in some sort of duality.
And that's something BTC Maxis need to understand: the real enemy will never be any "shitcoin", it's CBDCs.
We buy “underground” food directly from local farmers every week.
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for Bitcoin?
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Shake your ranchers hand
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And you think that the 5 billion people living in cities in 2025 will do that?
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But the only way to avoid this is to dramatically increase Bitcoin adoption, before 2025, to reach something like 1B users. And to make people understand that, instead of "trading" and "hodling", they should USE Bitcoin.
"everorange" reminder :)
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The bitcoin circular economy is coming. It's being created as you read these lines.
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It is, yes, but too slowly.
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