Bitcoin and Central Banks: Are They Compatible?

greg1337 · 2021-02-24T22:09:00.000Z

Central banks manage a country's money supply and monetary policy. They're basically the banks for banks. They're supposed to handle everything from interest rates to inflation. As Bitcoin gets more popular, it seems like central banks are losing their grip on

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ben.matrixNewbie

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#21Mar 1, 2021, 01:20 PM

Actually, the EU is about to roll out its CBDC soon, so this issue isn’t going away anytime soon.

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ben.matrixNewbie

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#22Mar 1, 2021, 03:12 PM

True, but timelines for CBDCs can slip a lot. There are trackers online if you want updates.

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ben.matrixNewbie

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#23Mar 1, 2021, 03:35 PM

Even if we end up in a Bitcoin-only world, banks can adapt. They can offer Bitcoin loans, investment options, and more. Some already do.

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ben.matrixNewbie

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#24Mar 1, 2021, 04:22 PM

But honestly, how many people will trust crypto over fiat? It’s a tough sell initially.

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ben.matrixNewbie

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#25Mar 1, 2021, 05:50 PM

The central banks and Bitcoin can’t be competitors. They serve different purposes. Bitcoin is all about privacy and control over finances, which fiat can’t offer.

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Bitcoin and Central Banks: Are They Compatible?

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