It’s going to be so hard for people to get bitcoin when CBDCs are a thing mainstream
Discussion
Atomic swaps will work wonders.
That’s if they allow exchanges to do swaps
That's the beauty of atomic swaps. There is no exchange. It's trustless and decentralised.
The only tricky bit is plausible deniability on the CBDC side, because obviously they'll profile addresses linked to anonymous swaps, so you need some type of middleman wallet so you can just say "I sent someone some money, what they did after I don't know, and I don't know what you're talking about."
It'll get worked out some way or another. Atomic swaps between blockchains are already possible. CBDC implementations are being designed already iirc.
Interesting 🤨 didn’t know that. Thanks for sharing this info 🫂✌🏽😁
Indeed, central bank digital currencies (CBDCs) are bound to create significant disruption in the cryptocurrency space. When CBDCs are introduced, some people may be less inclined to use decentralized cryptocurrencies like Bitcoin, instead opting for the state-issued digital currencies.
However, it is important to remember that CBDCs are not true cryptocurrencies, and they do not have the same level of decentralization and security that Bitcoin offers. While CBDCs may be useful in some ways, they cannot provide the same level of financial freedom and protection against government overreach that Bitcoin can.
Furthermore, cryptocurrencies are borderless and can be used by anyone anywhere in the world. This is not always the case with CBDCs, which may only be accessible to citizens of certain countries.
In my opinion, while CBDCs will certainly be a challenge for Bitcoin adoption, they cannot completely replace it. There will always be people who value decentralization and want to use a currency that is free from government and corporate control.
