Raoul Pal's Introduction to the Exponential Age

[clockwork71]

If you think a FedCoin is a replacement or even better than something like Bitcoin you're off your rocker.

One is chalk the other cheese.

A Fed coin will be just a digital dollar, but with far more control...

Next time you see a proper Bitcoiner, one who's done the 3-6 months of hard work needed to get a handle on things, ask them if they want to swap their Bitcoin for dollars (digital or non-digital).

They'll all say the same thing, why would I want to swap my Bitcoin for dollars when I've just swapped my dollars for Bitcoin?

This is where the Bitcoin cultists miss the plot. While there are a certain amount of people that will stick with it, the reality is 99 percent of the world doesn't give a fuk about the money, just what it delivers. Who do you think the average person is going to trust? Some nameless person, or the government daddy that they have always grown up with?

There is this myth that Bitcoin can't be shut down. However, if you want to see how people act, just take a look at how quickly most people fell in line over the last year or so. It will be the same w/ crypto. Also, there is more power in digitized currency, I promise you the gov's will adopt them.

Don't get me wrong, I really like crypto, for some things. For example, I really like VET.....I think there is real use there.

 

[clockwork71]

So digital money is coming, defi is I'm sure going to be a thing, but be prepared to cash out when its time because the governments aren't going to allow a bunch of crypto early believers to control the space, or hand control over to a decentralized network.

This is w/o a doubt a very real threat to crypto.

 

[krugman25]

This is w/o a doubt a very real threat to crypto.

We already have digital money and crypto doesn't care. It's impossible to kill a decentralized network. It will grow and thrive over the next decade just as it did the last.

CBDC's will accelerate crypto adoption and make on/off ramps much easier and more convenient for the average person. https://consensys.net/solutions/payments-and-money/cbdc/

 

[NoahA]

We already have digital money and crypto doesn't care. It's impossible to kill a decentralized network. It will grow and thrive over the next decade just as it did the last.

CBDC's will accelerate crypto adoption and make on/off ramps much easier and more convenient for the average person. https://consensys.net/solutions/payments-and-money/cbdc/

Its funny because you have the problem and solution both in your post. Crypto might not care, but central banks do. You say central banks and their digital currency will make the on/off ramps much easier. So if they control this, do they not control the value of BTC? If your 100 BTC is only good to use in some third world country, what is the point? You need that off ramp to bring any value to BTC. Exchanging BTC directly for a good or service means that its being used as a currency, and that obviously is a big no-no.

If fully believe BTC and ETH will go higher, and that one day it will plummet and be left on the sidelines.

 

[krugman25]

Its funny because you have the problem and solution both in your post. Crypto might not care, but central banks do. You say central banks and their digital currency will make the on/off ramps much easier. So if they control this, do they not control the value of BTC? If your 100 BTC is only good to use in some third world country, what is the point? You need that off ramp to bring any value to BTC. Exchanging BTC directly for a good or service means that its being used as a currency, and that obviously is a big no-no.

If fully believe BTC and ETH will go higher, and that one day it will plummet and be left on the sidelines.

I'm saying the CB's won't care. They will all have their own programmable digital fiat. Most crypto will be viewed as commodities or equity (protocol tokens), not as a competitor to digital fiat. They are and will continue to be complimentary.

 

[tsznecki]

Its funny because you have the problem and solution both in your post. Crypto might not care, but central banks do. You say central banks and their digital currency will make the on/off ramps much easier. So if they control this, do they not control the value of BTC? If your 100 BTC is only good to use in some third world country, what is the point? You need that off ramp to bring any value to BTC. Exchanging BTC directly for a good or service means that its being used as a currency, and that obviously is a big no-no.

If fully believe BTC and ETH will go higher, and that one day it will plummet and be left on the sidelines.

I've mentioned this to you before but you were too dumb to understand. How does a CB control a crypto when it's fungible across any blockchain?

Answer: they can't.

Interop functionality currently is either/or. If CBDCs are real, then CBs currently have to accept that a CBDC can be fungibly traded anywhere. The alternative is no CBDCs.