Here We Go Again: Fed Chair said Cryptocurrencies would "certainly" go to zero if U.S CBDC is launched
What is CBDC (Central Bank Digital Currencies)?
Central bank digital currencies (CBDC) are a form of digital currency that is issued by a country's central bank. They are similar to cryptocurrencies, except their value is fixed by the central bank and equivalent to the country's fiat currency.
Bitcoin is freedom and CBDC is control.
The Chair of the Federal Reserve of the United States Jerome Powell said that cryptocurrencies will go to zero if United States CBDC is launched. We have been down this road before and I think its high time these people in power understand that Bitcoin and Crypto are inevitable and are here to stay and take over the old traditional monetary and payment system as well whether they like it or not, Bitcoin/Crypto is freedom and CBDC is control, No one likes to be controlled.
The Government, Central Bank, Fed, and the International Monetary Fund (IMF) are scared of crypto and we all know this, so they are ready to do or say anything and everything to try to bring down crypto but it will not work, they tried several times in the past but Bitcoin and Crypto are still standing strong, this is not the first time that we have heard that crypto is going to Zero or that crypto and Bitcoin is dead, we have heard it a million and one times especially when we are experience a decline in crypto projects prices, I mean when the crypto market is dipping or in a bear market which we have been in for a long time, it has been on for 15 months also but we know the crypto market will still recover fully.
And "yes", some altcoins might go to zero, but not because of CBDC but because of miss management or poor management, or overleveraging. We have seen it happen in the past, FTX and LUNA are great examples and they contributed majorly to the crypto market dump last year, but as for Bitcoin, nothing can stop Bitcoin, it is too big to fall and more countries will adopt it as legal tender it is just a matter of time. So the powers that be including the Federal Reserve of the United States and its Chair Jerome Powell can only wish Bitcoin bad but it won't happen. Bitcoin is a great force and creates a path to financial freedom.
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I tend to believe that not many countries will make Bitcoin a legal tender but ppl will still use it, the reason why is governments, as long as there are government and they all have fiat money then they wont adopt bitcoin, it doesn't matter if its digital the concept its the same as current fiat money and Bitcoin goes again that ideology, I think in the end both crypto and fiat will coexist, I dont think crypto will replace fiat money in the next 30 years, consider Im pro crypto
Nice one buddy, your idea is not wrong but let us see how it all plays out. Thanks for always stopping by.
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🤷🏼♂️ I still don’t get what kind of additional use for the people this CBDC is supposed to have!? I mean we can already sent money digitally via online banking and can pay without cash via credit card or ApplePay etc. It’s just useless.
I believe they know it's useless, but their hatred and fear for crypto taking over which will still happen either way is why they are acting like this and want to push out CBDC by all means.
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