We're building decentralization, but it feels under siege. There’s a threat looming, and I can’t shake the sense that something's missing in finance. Central banks are stepping in with their own versions of decentralized currencies. Anonymity is getting harder to keep up. What do you all think about the current state of things?
I don’t think anything's missing, honestly. It’s just that decentralization is under attack. Governments are throwing out laws to stifle it, like KYC requirements on exchanges. They get it, they know how powerful decentralization can be, but they can’t kill the idea. It’s not gonna happen.
You’re missing something. Big governments can really shake the market if they decide to ban crypto outright. Remember when there were whispers about bans in Europe and the US? Prices plummeted. Bitcoin is decentralized, sure, but if a government makes it illegal, values can drop fast. That could be a real issue.
Exactly! Government bans do mess with Bitcoin prices. But like, Bitcoin's like gold, right? It won’t hit zero. If one country goes against it, another will pick it up. Prices fall sometimes, but they also skyrocket. Banks can try all they want, it won’t work.
Talking about CBDCs, I get the skepticism. They’re basically government-backed stablecoins. I’m not a fan of governments, but I trust them more than I do some CEO running a centralized company. Tether? Nah, no trust there. So, I’m not really scared of CBDCs. They might actually be a step in the right direction.