I am utterly unafraid of CBDCs.
The hysteria is mostly formed from superficial doom-circle-jerk analysis. Successful CBDCs will be a private federated ecash (or something very similar), the wisest built on the Bitcoin stack:
* Private banks will not sacrifice their power over money production via debt (as mints' status quo can continue).
* Privacy/fungibility and acquiring users overrides any Stalinist incentives.
* All we need is 1 sovereign currency producing country to use a fedi-like system built on Bitcoin, Gresham's law will do the rest.
* Building digitally native money is really fucking hard, do not underestimate the work we have done, and how governments will make use of it.
Zoom out. Post WW2 monetary order was a design choice, the next will be for apolitical money as world reserve currency, (let's not be humble) Bitcoin really is the best candidate.
Sovereign currency-producing countries, who actually do their homework, know all this. Having a native digital currency entirely interoperable with other countries' currency via its apolitical base (Bitcoin) IS the solution we are tip-toeing towards. Humanity moves toward greater liberation.
As time wears on, and liquidity pours in bitcoin, it will become stable enough to use naively. Whether people will use really depends on how poorly their CBDC treat them.
This is how hyperbitcoinisation happens.