TL;DR - CBDCs NGMI Digital #fiat currencies are scary for more than just surveillance and expiration policies. Even if you’re a big fan of them you have to understand they run on a network secured by what? Every government agency in the world has had their networks compromised many times. If the 3 letter agencies can’t secure their own networks good luck securing your #CBDC. Imagine an advanced persistent threat actor who holds a lot of bitcoin wants to take down your digital fiat. They slowly compromise all of the ledgers and backups because after all those are centralized and then leak fiat to themselves to buy more bitcoin and eventually destroy all the ledgers. The longer they can trickle out the fiat the more bitcoin they stack and the more worthless that currency becomes. What kind of retaliation could the fiat issuer do? It’s an asymmetric situation.