Is it possible these central bank digital coins actually backfire and lead more people to discovering the usefulness of Bitcoin?
I think so.
145 sats \ 1 reply \ @TheBTCManual 17 Sep 2022
I think it depends on how quickly and how hard they squeese on the normies, if you do it slowly they will continue to be lulled into a false sense of everything will be okay and have no hedging outside the system, but if its done too quickly I think it becomes a massive ad for bitcoin
You'll be surprised at how hard normies are keen to get cucked
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0 sats \ 0 replies \ @DeezSats 17 Sep 2022
Maybe orange man derailed their schedule because they exposed themselves hard with the plandemic, almost like they were trying to catch up or get ahead of something (like dollar collapse)
So yeah they are masters at the long game and suck pretty hard at short game.
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158 sats \ 0 replies \ @notgeld 17 Sep 2022
Not necessarily so. I actually would like to write a long post about BIS projects since there are many of them and the most recent one mBridge actually tries to collaborate with e-CNY.
So eventually while it may not lead to total surveillance if people in liberal democracies will try to actively resist, it may definitely harm people such countries like China plus help governments in conducting coordinate devaluation and inflation, i.e.robbing people.
They will likely actively fight Bitcoin while doing this.
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156 sats \ 1 reply \ @siggy47 17 Sep 2022
I hope so, but don't underestimate the power of human laziness. Humans always trade convenience for privacy, from ez pass to using the same passwords over and over. I'm worried.
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227 sats \ 0 replies \ @pablof7z_ 17 Sep 2022
most people don't give a fuck about privacy; but they do care about being able to spend their money at will.
In Argentina back in 2001 we had all kinds of shenanigans going on, absolute abuse of power, no one gave a flying fuck. But when the gov't imposed the Corralito, people took to the streets and fought as hard as they could.
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142 sats \ 0 replies \ @pablof7z_ 17 Sep 2022
this is exactly the case I made on Preston's podcast
https://podcasts.apple.com/cl/podcast/btc083-jack-dorseys-decentralized-identity-network/id928933489?i=1000567334996
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103 sats \ 0 replies \ @tomlaies 17 Sep 2022
This is basically the same argument as "Bitcoiners should be happy about awful inflation".
In a sense yes because it helps our cause. In a sense n because this is the horrible thing that we are trying to escape from.
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46 sats \ 1 reply \ @f6287b82CC84bcbd 17 Sep 2022
Only if it’s done peer to peer and not an exchange.
CBDCs can also block or limit transfers to exchanges.
Or impose a daily limit on transactions
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0 sats \ 0 replies \ @KenyaCoin 18 Sep 2022
Exactly. The CBDC will certainly be prevented from being used with centralized exchanges.
But whether it will work as a payment method for P2P exchanges will depend on whether or not payments can be reversed. In Kenya, for example, m-Pesa mobile money payments are not easily reversed (without permission from the recipient, such as when payment was sent to the wrong phone number). So that specific mobile money, ranking high on the "hardness scale", works well for sellers (being not easily reversed) as well as for buyers (easy to acquire, ... as m-Pesa agents take cash deposits and are found everywhere).
The May Scale of Money Hardness and BitCoin
https://blog.stakeventures.com/articles/the-may-scale-of-money-hardness-and-bitcoin
Payment methods
https://en.bitcoin.it/wiki/Payment_methods
The only thing government can do to stop the CBDC being used for P2P trading is to perform sting operations, ... where law enforcement make trades and then can identify who is selling (and maybe targeting those who are buying as well). That's a very expensive approach, in labor costs and in other resources. But, for example, in Nigeria the government did that and gave lists of traders to their banks with the insinuation that further service to those individuals makes the bank a party to future money laundering charges that may occur from further activity by those individuals.
Another reason a CBDC could help further adoption of bitcoin is because a CBDC gets used as a substitute for cash. With fewer cash transactions occurring, cash becomes harder (and more expensive) to use. Want to withdraw cash from a bank? Use the ATM, and oh ... there's now a fee to do so (or a higher fee, if you are already paying fees to use the ATM). So more merchants may add bitcoin payments for those who prefer to not use either payment card or the CBDC.
And most CBDCs are likely to be for domestic transactions only. So a CBDC doesn't displace bitcoin for cross-border payments.
Overall, I can't imagine that CBDCs will be necessarily good for bitcoin, but them existing doesn't mean bitcoin is significantly affected negatively either.
And I expect CBDCs to be much ado about nothing, especially after seeing the path of Nigeria's eNaira CBDC, a year later now since it launched ... and it is going nowhere. The CEO of BitNob nailed it: "Dead on arrival."
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21 sats \ 0 replies \ @faithandcredit 17 Sep 2022
I think so, and they also know this. And my big concern is that its getting to a point where they must take us back to the stoneage to remain in power. And they will do anything to remain in power it seems.
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0 sats \ 0 replies \ @happy 18 Sep 2022
There is a high chance that central banks are already working with Lightning Labs
https://www.weforum.org/organizations/lightning-labs
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