Financial experts believe Bitcoin is not mature enough

More and more central banks have begun discussing the creation of their own digital currencies to defeat Bitcoin, and in the future consumers will be more willing to accept digital currencies issued by central banks rather than ownerless Bitcoin. In fact , the digital currency concepts proposed by many central banks are completely different from Bitcoin.

Financial experts are happy to tell central banks about the advantages of digital currencies. It must be acknowledged that digital currencies do have many merits and have the power to disrupt the current financial ecosystem and change monetary policy. People must know that there are many differences between digital currencies issued by central banks and digital currencies reported by the media.

Digital currencies issued by central banks will have strict supply and usage restrictions, and this operating model is similar to cash. Central banks prefer to issue digital currencies because the issuance cost of digital currencies is lower. They only need to press a few buttons on the keyboard to create money instead of printing money on paper with ink.

The underlying Bitcoin protocol is not based on trust, there is no central authority controlling the entire network, and there is no central bank involved in the process. Its total supply is 21 million, which has been criticized by many financial experts, who believe that Bitcoin is not mature enough.

Translation: Bitcoin Home Red Scarf