What even is a CBDC?
Can we even define it?
Normally with technology we can define things based on what the technology actually is.
A car is a car.
A computer is a computer.
A phone is a phone.
CBDC isn't defined by the tech; it's defined by the entity launching the tech.
Doesn't matter what the code is or what it does.
If it's launched by a government or central bank it's a CBDC.
If a dev team launches it, it's just another shitcoin.
This means that CBDC isn't even a technology; It's a BRAND.
All the value of crypto is derived from the network.
The brand is largely irrelevant except when interfacing with centralized WEB2 systems.
This is why I require actual proof to see if such a thing can even happen.
Really good points. That sort of fits in with my thinking that fiat money is already by definition a CBDC.
Exactly.
And nobody in crypto wants anything to do with that bullshit.
And nobody outside of crypto wants to deal with the technical complexity of crypto.
It's literally a product for no one.
Their target audience is delusion.
Solution looking for a problem confirmed.
I saw someone write that retail might not come in this cycle as they are not interested in the product with the complexity and everything.
lol yeah well everyone knows that retail comes in to buy the top and provide exit liquidity.
circa 2025
Why would this cycle be any different?
There is no added complexity in buying on Coinbase or sending Blackrock a check.
Nobody needs any extra coaching to do those things.
The vast majority of buying has always been off-chain.
To expect anything different this time around is really odd behavior.
But then again that's just part of the cycle.
It's the same exact hysterics every four years.
Clockwork really.
Very true. I was chatting to a normie friend and they can buy all off chain like you mention and he was looking really at just price and what could pump or what looks cheap. Doesnt know anything about the different chains etc. Hard to believe we are half way through this cycle already, 2025 is lining up to be pretty epic.