Will CBDCs Destroy Bitcoin?

𝐆𝐞𝐭 𝘁𝗵𝗲 "𝐔𝐥𝐭𝐢𝐦𝐚𝐭𝐞 𝐆𝐮𝐢𝐝𝐞 𝗧𝐨 𝐁𝐢𝐭𝐜𝐨𝐢𝐧" 𝐜𝐨𝐮𝐫𝐬𝐞:
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In this video, I discuss whether CBDCs (central bank digital currencies) will destroy Bitcoin by programmatically preventing capital inflows from fiat to Bitcoin.

I conclude that this will not happen, because it's relatively simple to exchange your CBDC USD for physical goods, and then to trade those physical goods for Bitcoin. One can also sell goods and services directly for Bitcoin, thus leading to a self-contained Bitcoin circular economy.

Because Bitcoin is peer-to-peer and permission-less, no one can stop the widespread buying and selling of goods and services in Bitcoin. The government can stop 100 people, but it cannot stop 100 million people.

CBDCs need to be resisted at all costs. They are not a benign new tech. Instead, they are spy coins that can be used by politicians and central bankers to surveil people and cancel their money if desired.

Unlike Bitcoin, CBDCs will constantly lose purchasing power, since they are just another form of fiat money.

It might make sense to buy some Bitcoin before the digital prison of CBDCs is rolled out.

Having Bitcoin will also give you access to Bitcoin-friendly jurisdictions, which will attract smart people and capital.

Not investment advice! Consult a financial advisor.

China's Progress Towards a Central Bank Digital Currency:
https://www.csis.org/blogs/new-perspectives-asia/chinas-progress-towards-central-bank-digital-currency

Powell: Congress to Receive Guidance from Federal Reserve on CBDC:
https://decrypt.co/103772/powell-congress-to-receive-guidance-from-federal-reserve-on-cbdc

Argentina and capital flight into the USD:
https://www.bloomberg.com/news/articles/2021-11-25/argentina-limits-banks-daily-holdings-of-cash-in-dollars#xj4y7vzkg

Executive Order 6102:
https://en.wikipedia.org/wiki/Executive_Order_6102

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#bitcoin
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