It’s not just gossip and stories on forums, CBDC is a reality in many countries in the form of testing, and China has been working on its CBDC perhaps for as long as Bitcoin has existed. China just wants to create as much control over the national currency as possible, and the CBDC is killing any privacy because the authorities have full insight into the finances of every citizen.


Some people who express such views have obviously not yet understood what Bitcoin is, because if they did, they would not be talking such nonsense at all. Bitcoin is a decentralized cryptocurrency independent of central banks, governments or various financial agencies such as the World Bank or the International Monetary Fund. It is insane to think that a central bank product can make Bitcoin obsolete...


Today you have so many stablecoins used to buy/sell cryptocurrencies, has that knocked crypto exchanges out of the game? Don't think that any CBDC will change things, even if you are allowed to buy Bitcoin with such a financial instrument.

But you can't have both. You can't have a decentralized currency backed by fiat and at the same time have a stable price. It is evident from all the stable coins that have been created so far and they have all been centralized.

I don't think of Bitcoin as a threat. The government should not be afraid. They should have made better decisions, not made innovations to fight back.  I would rather crypto, CBDC, and FIat be interconnected and mutually beneficial. They are supposed to provide regulation to be able to regulate even though crypto is decentralized but at least the government still has the power to regulate it. That could be something good. In addition, they can also make crypto as a source of state income through taxes.

Another reason is that the introduction of CBDC will also promote comparison between them and bitcoins (crypto in general). This comparison will directly influence the popularity of bitcoins positively as many will soon come to see that the framework of CBDC's is tailored after that of cryptocurrency with just some few modifications to suit the government. Crypto to many will still be the better choice to many.

It will never make bitcoin or other crypto currencies worthless. The central bank digital currency are just the "digital" version of the fiat currency. Just like stable coins. People will  still hold crypto currencies because it will give them profits in the long run. I doubt those digital currencies will give people any profit for holding. On other hand central bank currencies will be centralized, which means people actually don't own any of the coins. People will know this and they will always prefer decentralized crypto over those centralized bank issue digital currency.

Bitcoin is not anonymous. Google it.

CBDC is money controlled by the government...

In this world, there are so many people who don't really like government control and it is predicted that the number will continue to grow. Bitcoin is not under the control of the government, so those who struggle to invest in bitcoin will definitely continue to exist and that makes the price of bitcoin to continue and remain high. Bitcoin will never be worthless.

You may be right, if America creates a digital dollar backed by real dollars, the process of converting bitcoin and cryptocurrencies into fiat will be much easier, but I expect that there will not be much change because the digital dollar will be like the original dollar will remain under the control of the central government and they can pump the number that They want it and this will lead to inflation and make it worthless in the end in addition to the fact that all transactions will be under the tight control of the government.

I don't think the CBDC will make bitcoin worthless because it will serve its own purposes for sure in the future. CBDC isn't considered a cryptocurrency. It may appear to some as it is, but the fact is it is not. It is only an extension of fiat money representation, only that not in physical one but in digital means. I believe this is one of the things that the government has come up with to be in the same pacing of the innovation and technology that we have today and to, of course, boost the usage of fiat in digital transactions like that of cryptocurrency. Although CBDC is certainly not going to be the same with bitcoin because bitcoin is a completely independent and decentralized entity that just needs the market to make it continuous and to determine its value. However, CBDC isn't decentralized. It is controlled by the central organization and the government which could dictate and manipulate how many CBDC will be going to circulate and how much it would cost.

So, definitely, CBDC won't be the death of bitcoin. I agree with your statement that it is possible that it could even power the bitcoin because of the easier exchanging process without the need to undergo and let your money be exchanged via different exchanger platforms that oftentimes need KYC. This could be an advantage to those people who want to convert their funds directly with fiat any moment they needed and wanted it. It would be a win-win situation if ever. Let's just hope for the best though and wish the government would be wise enough in setting and laying all the things and strategies needed for their CBDC to be successful without compromising crypto.

You said it right there. As long as it is not a Cryptocurrency, any other form of digital money or CBDC cannot really qualify as a cryptocurrency because these other digital assets are still under the control of the various Government that created them and I think this is one if not the major difference between them since cryptocurrencies are basically decentralized which any CBDC is not.