I found this video discussion very interesting. My 7 takeaways are:
1. The FED and Euro Central Bankers are **not at all concerned** about Bitcoin being used as a gold substitute or store of value. They would only be concerned if it was used for everyday payments.
2. Global Stablecoins (Libra) will be “subject to the highest level of regulatory oversight”. ie, will probably never get off the ground.
3. It is not currently legal in USA or Eurozone for the FED/central bank to issue a CBDC – it would need a law change.
4. All major central banks are working on CBDCs. The FED is intentionally going slow. They see no need to be first.
5. The FED thinks it is holding the free world together due to its management of the USD. (hubris extremis)
6. The Euro banker guy made the point that a stable coin (eg USDT/tether say) is only safe/secure/riskless if/when it is backed 100% by the sovereign currency, so when/if the original currency becomes programmable via a CBDC, then the utility of the original stable coin reduces. (this misses the point completely to my mind, especially since any future CBDC is likely to be pretty retarded)
7. I love it when FED Chairperson Powell says “bitcoin is highly volatile, and therefore not really useful as a store of value”. lol. I think the bitcoin owners sitting on USD$1Trillion of volatile wealth might somewhat disagree.