With everything else, to get the crucial answers we are looking for we need to first identify and walk past the horse sh!t and sheer propaganda, these usually contain easy to recognize words often used to appeal to their dumbed-down audience such as "the free world" or "patriotic" or "freedom and democracy"
What some are worried about, is not the threat the DCNY poses to Bitcoin or "freedom", but to their own established and tightly controlled system that enables them to sanction, block, confiscate from and exclude others. Basically setting off alarm bells that some day others (in this case China) might do to them what they've been doing themselves to others for years:
Control is the key word here. The exact same reason they are against Bitcoin and talk this "terrorist use it" or "drug money laundering" or "not so good for the environment" charade, because in reality Bitcoin diminishes their oppressive, centralized control over others by empowering them at the expense of these globally oppressive governments who want to enforce their will around the world. Don't agree it's all about power and control? Why are they against the DCNY then? Surely China will not operate it to be mined around the world by a third party thus eliminating the power consumption issue, or allow "terrorists" to use it, or allow drug money to go through their network right? So they have no reason to worry about these claims and oppose the DCNY then, and yet they do ;)
But do Bitcoiners have reason to be worried about a country's E-currency on the blockchain? I specifically say 'a country' because the US and England are also in the process of creating their digital currency and along with it already added another reason on their list for opposing Bitcoin
So it doesn't matter which country we are talking about, ultimately, they all want the control back Bitcoin has started to take away from them
These national E-currencies though backed by the country's central bank, are the ones which have no real value and are backed by nothing except a government promise that it will always be their property which you are only allowed to use if you follow their rules. See what I did there ;) It's these national digital currencies which have no decentralized value unlike Bitcoin, because it's only Bitcoin (and other decentralized Crypto) which can't be confiscated from you by remote centralized control, you know why? Because it's decentralized, no matter what hocus-pocus nonsense some nutjobs tries to sell you
But go ahead and try to send their digital Dollar to someone in a country who's sanctioned by them, or their digital Yuan to a Crypto exchange and convert it into Bitcoin and see how fast your account holding "your" digital Yuan freezes and the value it once had become worthless in front of your eyes. Yes, it can happen that fast. Unlike with current banking under the SWIFT protocol where all the investigation and action happens afterwards, these government controlled blockchain currencies can simply write in the code for the digital currency and/or account to be auto-blocked if a certain act is preformed or just disappear from the holder's account after a certain period of time. This isn't just a suggestive possibility, they are already doing this to traditional currencies and banking accounts
What blockchain will provide the ill intended, is endless possibilities for control and data gathering. What it provides those who created it on a decentralized basis, is nothing short of a technological and monetary revolution. What the existence of both will do for the decentralized blockchains is something we must pay very, very close attention to and adapt accordingly. After all, history has shown those who write the rules have a way of destroying the initial innovation in order to replace for something to their liking, even if it's qualitatively less advanced than the original
While searching for related articles on this topic, I really enjoyed myself when reading the contradicting ignorance in the below link. It starts off with "China’s digital yuan is a warning to the world" and talks about the threat we just mentioned regarding data and centralized control, but then ends with: This means China will be able to ignore the illegal unilateral US sanctions against certain countries, luckily the Biden Admin. is taking note and will soon react. Yep, really sounds like they are worried for "the world" and it's "freedoms" and totally not their own power and control huh?