privacy is not a top need? We will see when CBDC will be here
Discussion
Dude the vast majority of currency is ALREADY DIGITAL AND UNDER SURVEILLANCE. A CBDC make not much difference only in relative terms of ability to coordinate more of the economy and have direct liquidity injections.
Seems you don't understand how it works, do you really think the government will let Bitcoin become mass adopted against their own currency the dollar or their own interest? Do you really think Bitcoin is a threat against the banking system? Please face the reality, the mining is centralized by big companies, it will be so easy to enforce them the OFAC blacklist, the development is pretty controlled by Blockstream (backed by bankers) which is pushing the LN and other things made by them... of course no Bitcoin is not a threat against them, it's not about money, it's about control, why are they (bankers) pumping Bitcoin to the moon and making ETF ? Do you think BlackRock will go against the government? People thinking Bitcoin can protect them from the government are very stupid, with CBDC, it will be so easy to control people's money, linked to social score, it will be like in China, and guess what? Bitcoin was banned in China, miners ran out. It will be so easy to control miners in USA and EU with this system. I don't know if they will go against Bitcoin at some point, but one thing is sure, they will never let Bitcoin out of their control, Bitcoin will probably become an extension of the banking system, heavy integrated and regulated, you and I will just cry. Sure it will take time, many years probably, Bitcoin will eventually go the moon, at the end you will have a "digital gold" worth maybe millions, regulated as hell, you will be unable to send or receive without KYC and heavy taxed because they do what they want just cry if they know your wallet you are fucked... and it will be very difficult to be anonymous maybe impossible because Bitcoin is transparent, yes you can dream of Bitcoin become the world reserve currency and it will probably be, but we will loose everything in parallel.
Everything you just said is literally IRRELEVANT to bitcoin. None of which is a problem. There will ALWAYS be a miner somewhere willing to mine my TXs at any amount of fees exceeding the going rate in the mempool. You are literally only thinking about 1st irser effects and IGNORING all of which would ouccur if the scenario you have put forth would have manifested.
There will always be a market price for clearing any TX of ANY type irrespective of any government decree of legislation. You CANNOT simultaneously believe that bitcoin will pump to the moon (with government help) and also believe at the same time that individuals holding bitcoin will become net wealthier and become a greater and greater portion of the individuals that have influences in the socail strata will sit ideally by and do NOTHING.
FFS, think out longer than just first order effects for Christ's sakes. People's thoughts like yours that dont even take into consideration any other effects than that of negative externalities operating in a fucking vaccum without any input from other sources make my fucking brain hurt.
Heres LITERALLY the scenario in which bitcoin is co-opted like you believe would occur to due banks being involved.
Listen to the criticism of the article and the rebuttal of guy at the end.
Not only bankers, add politicians, 3 letters agency and some corporations like ISP for example. What we generally called the system