This was bound to happen in an ecosystem where the asset in question is scarce and limited. I would now be more interested in knowing how BTC behaves in an environment where CBDC is more prevalent.
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This was bound to happen in an ecosystem where the asset in question is scarce and limited. I would now be more interested in knowing how BTC behaves in an environment where CBDC is more prevalent.
CBDC is just more fiat in another form. The key value proposition of Bitcoin is that it it's a restricted-supply uncorrelated asset that is decentralized and premissionless. It's an inflation hedge. As a payment system Bitcoin is and will be irrelevant compared to its store of value function under the current macroeconomic conditions.
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@rmsadkri...I couldn't have said it better myself.
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I agree with all of that. I am trying to project how the rules and regulations would be once CBDC is pushed to the market as a new form of tokenized monetary system. Coz, it is obvious that the CBDC proposal is ramping up in the wake of BTC and other crypto currencies. Just curious if new regulations would be made around BTC and Alts similar to that of CBDC and how would that impact the coin adoption.
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Those are reasonable questions. I don't think the reason for being for crypto has mainly to do with crypto as means of payment. There are faster, cheaper and more scalable ways to move value already. It may be that governments have been treating crypto permissively this far to see what DLT can do as the backbone of payment systems. I think there's are limits to how much they can do through tightened regulation, though.
Me as well, but BTC is a macro bet, not just a CBDC bet.
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