Bitcoin as a CBDC

[michaeldecerbo]

Very very unlikely but nevertheless thought-provoking take from Bitcoin Magazine:

https://bitcoinmagazine.com/culture/bitcoin-as-a-cbdc

The thesis boils down to that:

CBDCs are concerned with features such as controlled purchases, location-based restrictions, expiring transactions, and holding limits. All of these features are implementable on Bitcoin-anchored stablecoins. Most of these features are possible to implement via the base layer once mining is sufficiently centralized… miners will always follow capital. And the reality is that … the majority of bitcoin lies with custodial entities, while the U.S. government itself, as well as other regulation-friendly actors, have amassed a trove of wealth in BTC that might just outbid those in favor of permissionless transactions.

• This topic was modified 7 months ago by michaeldecerbo. Reason: fix typo

[Kynan Jones]

Surely the system would want a coin they can create more or less of and activate/ deactivate at will so they can continue the wealth robbing they are used to?

[Author]

Posts