While not a certainty IMO, it seems that US govt will try (and probably succeed) at implementing CBDC policy in the future. For me, this a scary proposition of control over currency and how we are able to use it. A lot of what I hear is also how this could be easily partnered with social credit scoring of spending patterns which also limits our freedoms. CBDC as a whole could, and probably would, be used as a control mechanism.

What I am curious about is informed people's thoughts on the future of BTC and its inherent blockchain technology as a currency that would be outside control of the federal government. To be clear when I say control I mean the privacy of spending as well as the lack of ability to limit spending amounts or spending on certain goods and services. If so, to me that radically increases its inherent value beyond what it offers now.

I currently have about 6% of my portfolio in BTC, but thoughts about above always make me think about increasing that percentage. I've tried researching this topic, but haven't really found much on it.

Between being tied in with a social credit system is also the notion that CBDC would have the capacity for expiration, meaning you would have to spend it or lose it.

Now in terms of transactions I don't think Bitcoin will ever dominate liquid currency, namely the limited number of transactions can be recorded by the network over a given time. Perhaps the lightning network will provide that solution in the long run.

However as a digital asset Bitcoin could displace the USD as reserve currency as it is neutral to central banks and world governments, unlike the dollar.

In the next few years I'm more worried by high inflation rather than CBDC, elected officials have NO incentive to curb government spending or lower taxes so it's highly likely that Bitcoin will appreciate against the dollar.

Regardless be aware of the risk, for Bitcoin has it's own. Regardless do have a plan against the steady debasement of USD.

I'm with the OP on this. The appeal of Bitcoin and gold is they have nothing to do with the government. All fiat currencies have the same problem. A corrupt gov controls them.

Nobody will want gov crypto either but they will do all they can to make us adopt it.

Gold has been money for 5,000 years. Bitcoin doesn't have that history going for it but it appears to me to be a much better form of money than the dollar and other fiat currencies.

I also keep a large position in Bitcoin and gold miners.

Explain this.

Yes inflation is obviously a huge issue with USD. I didn't bring up BTC in that setting. While i think that could hedge inflation I also feel that physical metal, real estate and even the market allows for that if played correctly.

Audiobook purchased. I will check it out

From a PM bug... so take this with a grain of salt.

Central banks are not exactly friendly towards competing currencies. I think this is the primary reason BTC has been allowed as an ETF. Any form of cashout from a BTC ETF will be rolled into a future CBDC account, fully controlled by the central bank.

If one plans to use BTC as a form of payment, a CB-approved point of sale device will likely be used to convert BTC to CBDC for tracking and other nefarious purposes.

Not sure if this was the hedge angle you were looking for.

Just my thoughts...

i plan to use BTC as a form of payment in the future about as often as i use gold today. CBDC will be my checking account and BTC will be my savings account.

hunter2012 said:

---

Between being tied in with a social credit system is also the notion that CBDC would have the capacity for expiration, meaning you would have to spend it or lose it.

Now in terms of transactions I don't think Bitcoin will ever dominate liquid currency, namely the limited number of transactions can be recorded by the network over a given time. Perhaps the lightning network will provide that solution in the long run.

However as a digital asset Bitcoin could displace the USD as reserve currency as it is neutral to central banks and world governments, unlike the dollar.

In the next few years I'm more worried by high inflation rather than CBDC, elected officials have NO incentive to curb government spending or lower taxes so it's highly likely that Bitcoin will appreciate against the dollar.

Regardless be aware of the risk, for Bitcoin has it's own. Regardless do have a plan against the steady debasement of USD.

---

They can go hand in hand though. If the US rolls out CBDC, it has nothing to do with backing it with actual assets. It will still be unconstrained and inflatable fiat. The advantage over current fiat is that with CBDC they can now fully control citizenry with it. They can dictate how, when, why, and where you spend it.

US CBDC is one of two endgame developments for your freedoms.