Issue #1309: The CBDC will be significantly more inconvenient than bitcoin
In recent months I have thoroughly convinced myself that bitcoiners really need to stop running with the narrative that the CBDC world will be more convenient because it is patently false.
Many believe that people will adopt the CBDC in favor of bitcoin because it will be convenient.
— Marty Bent (@MartyBent) January 26, 2023
"Securing bitcoin is too hard and inconvenient."
The process of writing down and securing a seed phrase will seem very convenient when the CBDC doesn't allow you to buy a steak.
I shot this tweet out this morning after a conversation on the Simply Bitcoin IRL podcast I had last night. During the conversation Nico, the host of the show, asked me my thoughts on the prospects of a central bank digital currency being brought to market and how that would fare for bitcoin adoption. I've had this question posed to me many times in the past and I would tell people that people would be much more inclined to download a CBDC wallet than a bitcoin wallet, but my thoughts on this particular subject have shifted in recent months as I've thought through the UX that would come with using a CBDC wallet. The framing of the question typically revolves around the relative convenience of the two applications.
"The on-boarding of a CBDC wallet will be so seamless that people will automatically choose it over a bitcoin wallet. The daunting task of creating and managing private keys is too much to handle for your average person."
