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RE: RE: Vaporizing Money

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@magnacarta
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The weird thing about the whole China situation is... okay so they have this CBDC... but then everyone immediately acts like this CBDC is the only option. What happed to the CNY?

Creating the CBDC is only an early step. Sooner or later, the CBDC is brought online and rolled out within a region's borders. For a while other forms of money will coexist with it only because it takes time both to gain universal acceptance and to replace other forms of money. At some point, physical money will be phased out, demonetized, or outright outlawed. Cryptocurrency will be the final competitor to CBDCs, and those controlling the CBDCs have armies to back them up when they try to take out cryptocurrencies.

Government solutions may begin as additional choices for the people, but over time they tend to become the only choice allowed to the people. CBDCs will follow that path.

We have time before CBDCs overtake cryptocurrency. Even if CBDCs ultimately win, the cost of that victory must be made as dear and as expensive as possible.

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