RE: The future and fiat don't mix.

avatar

You are viewing a single comment's thread:

What happens though, when you get a fiat cryptocurrency?

Part of the reason China has been banning bitcoin, closing exchanges, banning mining etc, is because they're launching their own official stablecoin, pegged to the renminbi. They have started trials already:

https://www.cnbc.com/2021/03/05/chinas-digital-yuan-what-is-it-and-how-does-it-work.html

Basically they've given wallets with starter coins to the people in the trials in Shenzhen, Chengdu and Suzhou. And they're tweaking it to see how it works. Eventually it will get rolled out everywhere - and there will be a lot of people using it because it is convenient and it's value doesn't swing about like bitcoin.

0
0
0.000
1 comments
avatar

and there will be a lot of people using it because it is convenient and it's value doesn't swing about like bitcoin.

I don't really agree with any of the speculation you've made here.

  • How is CBDC better?
  • How is CBDC convenient?
  • How is CBDC going to maintain value?
  • Why are you comparing it to Bitcoin volatility?
  • What is different about CBDC from any other digital fiat currency?

In order for one technology to replace another it is often said that it has to be ten times better than the predecessor. There is zero evidence to suggest CBDC is any kind of solution whatsoever. When fiat collapses, CBDC will collapse right along side it, because it's just another sad version of fiat grasping at straws.

0
0
0.000
Reply