Can someone explain to me why I should be terrified of a CBDC but Bitcoin I should be excited about. All this talk from Trump about bitcoin is quite frankly not comforting to me. I don’t trust any of it.
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BTC - decentralized CDBC - Centralized
In theory it's decentralized, but most of the Bit coin mining is in China and if you control 51% you control the coin. CBDC can be a crypto, or a credit card any fiat really. We pretty much have a CBDC right now with the fiat and digital banks so....
The US is actually #1 for bitcoin mining now. China was #1 a few years back, around 2021. But they tried to crack down on it, and many of the miners fled the country. A good chunk of them ended up in Texas.
Plus sha 256 is nsa , plus read about big block and small block wars , plus regulation can cause manipulation, plus likely nsa roots , plus usa is largest holder and then add blackrock, etc and too much big corrupt entities control it... plus more
I know they say that but I think we all know damn well they know who does what with bitcoin, we’ve seen them freeze it and confiscate it.
There is no centralized control of Bitcoin so no one can freeze your wallet addresses.
Best they can do is freeze your exchange addresses, which really doesn't belong to you to begin with (just like a bank.)
Cold storage fixes this.
TY
Read big vs small block wars. They 100pct can create ban lists and make your btc unusable.
If you try to convert BTC back to USD, then maybe. But for any regular Bitcoin transactions, no they cannot.
Being decentralized doesn't mean its annonymous or untraceable. Its a public ledger. Its meant to be that way so that all transactions are transparent.