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CBDC VERSUS CRYPTOCURRENCY

  • Thread starter Thread starter Josemendez
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Josemendez

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CBDC is an acronym for central bank Digital Currency , a currency currently in development by many countries towards having a digital version of their fiat currency .

So far , their are speculation that it might affect the use of cryptocurrency , I am not quite in agreement with the speculation because , CBDC lacks volatility associated with cryptocurrency which makes it tradable.
What do you think about CBDC AND CRYPTOCURRENCY ?
 
All countries are trying to control the finance, since people are moving to online market, GOvernments are also creating the digital fiat currency (CBDC is same like that). They both are different. CBDC typecurrency of every country is for their useage, cryptocurrency is decentralized and have no borders.
 
Yugocean said:
All countries are trying to control the finance, since people are moving to online market, GOvernments are also creating the digital fiat currency (CBDC is same like that). They both are different. CBDC typecurrency of every country is for their useage, cryptocurrency is decentralized and have no borders.
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Ofcourse .have you thought about government enforcing citizens to use the country CBDC , and banning cryptocurrency in order to give their CBDC a chance ?
 
Josemendez said:
Ofcourse .have you thought about government enforcing citizens to use the country CBDC , and banning cryptocurrency in order to give their CBDC a chance ?
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No government can ban cryptocurrency, they can ban trading companies and block websites, but a cryptocurrency cannot be touched or seen,, and no law is able to ban something like that.
 
Yugocean said:
No government can ban cryptocurrency, they can ban trading companies and block websites, but a cryptocurrency cannot be touched or seen,, and no law is able to ban something like that.
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Actually Pakistan and India banned cryptocurrency few months ago . A country has right to say no to cryptocurrency in their country.
 
I think the digital stable currency just like usdt dosent flunctuate and you can't make profit from trading it , its usefulness isn't too much but crypto has many usefulness
 
Josemendez said:
Actually Pakistan and India banned cryptocurrency few months ago . A country has right to say no to cryptocurrency in their country.
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And by which law? I am from India, there is no such ban. In fact Indian Prime Minister Narendra Modi even rewarded entrepreneur for developing cryptocurrency app.
 
It is true that many countries are trying to set up their own digital version of their Fiat currency just to counter cryptocurrencies but there is no way that you can compare digital Fiat currency to cryptocurrencies because the difference is that the cryptocurrencies is highly volatile so therefore it can be traded and also invested into while the digital Fiat currency will just be only for payment purposes.
 
I hear that a lot of countries are trying to create Central Bank Digital Currency. However, CBDC are different from crypto currencies in a sense that they are guaranteed by Fiat currency.
 
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