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I tend to think that after enough cycles people will begin to write off crypto entirely. A USD CBDC will kill it either way
by adam_arthur 4y ago
I tend to think that after enough cycles people will begin to write off crypto entirely.
A USD CBDC will kill it either way
- Krasnol 4y agoSomehow I doubt it. It's just too easy to participate. Also: are you interested in my brand new Krasnol-NFT?
- rinze 4y agoPeople still "invest" in multi-level marketing stuff, so I'm not an optimist. Have you seen this new coin? Have you read the white paper? It's a completely new scam^Wthing!
- adam_arthur 4y agoBy "kill", I mean that it won't likely go mainstream mania, featured on CNBC etc. Not that it won't exist at all. There's definitely another fool born every day
- KptMarchewa 4y agoMLM never was any close to being this mainstream. Maybe in 1997 in Albania.
- minsc_and_boo 4y agoHerbalife, Amway, Avon, etc. all became pretty big, it just doesn't seem like that to most people in tech bc it's a different target market.
- KptMarchewa 4y agoThey were orders of magnitude from having 3 trillion market cap.
- minsc_and_boo 4y agoMarket Cap really doesn't mean anything - if I buy a grain of sand for $1 suddenly sand has the largest market cap at $7,500,000,000,000,000,000.00
- dubswithus 4y agoMy understanding is CBDC’s are for banks and not retail. So it won’t kill it.
- adam_arthur 4y agoHmm what would the advantage be then? The Fed is already linked up with US Banks
- babypuncher 4y agoI don't think crypto actually serves much of a purpose at retail. As a customer, what reason do I have to pay for my groceries with bitcoin instead of my debit card?
- astrange 4y agoA CBDC is just a bank account at the Fed with an API. You don't need retail banks anymore if you have one; conversely you don't need one if you already have retail banks. Banks already have such an account at the Fed, and are getting realtime FedWire soon, and it doesn't really matter that the API involves SFTP'ing ACH files around.
- djbebs 4y agoI'm sure the fact that the US seized the Russian central banks dollar reserves will do wonders for the adoption of a US CBDC