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[microunit]

China will give out over $6.2m in digital currency to residences or citizens in beijing. But citizens will have to apply for a lottery in local banks to participate in the trial. They can spend the digital currency also on selected merchants

 

[BusyCat]

Which may be their digital currency? And the lottery system to reward users instead of airdrops is not fair for many who dont receive their reward. And also I see many countries nowadays looking forward to create their own digital currency , even in India.

 

[silentwatch]

In my country, the central bank still develope the digital currency and not have been release yet, even for trial like china. The time of fiat money is near. When china release their digital currency for good that will affect many country like my my country... Goodbye fiat money.

 

[Razor1911]

In my country, the central bank still develope the digital currency and not have been release yet, even for trial like china. The time of fiat money is near. When china release their digital currency for good that will affect many country like my my country... Goodbye fiat money.

Everywhere the govt tries to control the economy. And for that they have regulations. If they don't control the price of of the commodity, then the prices of such commodity will fluctuate uncontrollably and that is why they are banning bitcoin too.

 

[ElPaule]

China will give out over $6.2m in digital currency to residences or citizens in beijing. But citizens will have to apply for a lottery in local banks to participate in the trial. They can spend the digital currency also on selected merchants

This should be posted in the Airdrop forums. ?

well we'll but here you can see, that China's actions against mining and exchange is not because they have issues with digital currencies but they don't want to see another besides their own red e-coin!
I am not sure if this is good or bad news. Good, cuz Chinese government is in favor to electronic currency and there is a huge promo that will create acceptance in general.
It's bad new since they see other decentralized currencies as competitors or uncontrollable enemies and will fight against national and international, the good thing.

If every country develops their own currency we will see lots of competition then there might be a place for all the cool, uncontrolled crypto we have today.
But anyway I think globally we will see a date driven war against crypto currency as we have seen against encryption in the past. The government worldwide want to be in control and "own" the currency. The winter is coming!!

 

[microunit]

Which may be their digital currency? And the lottery system to reward users instead of airdrops is not fair for many who dont receive their reward. And also I see many countries nowadays looking forward to create their own digital currency , even in India.

I think its the digital yuan, No it is not that unfair for them. You know how china works stuffs there. I don't think they see airdrops as good

This should be posted in the Airdrop forums. ?

well we'll but here you can see, that China's actions against mining and exchange is not because they have issues with digital currencies but they don't want to see another besides their own red e-coin!
I am not sure if this is good or bad news. Good, cuz Chinese government is in favor to electronic currency and there is a huge promo that will create acceptance in general.
It's bad new since they see other decentralized currencies as competitors or uncontrollable enemies and will fight against national and international, the good thing.

If every country develops their own currency we will see lots of competition then there might be a place for all the cool, uncontrolled crypto we have today.
But anyway I think globally we will see a date driven war against crypto currency as we have seen against encryption in the past. The government worldwide want to be in control and "own" the currency. The winter is coming!!

There's no link for an airdrop site , not even an airdrop if you read it , it is just a news of digital currency trial

 

[Razor1911]

This should be posted in the Airdrop forums. ?

well we'll but here you can see, that China's actions against mining and exchange is not because they have issues with digital currencies but they don't want to see another besides their own red e-coin!
I am not sure if this is good or bad news. Good, cuz Chinese government is in favor to electronic currency and there is a huge promo that will create acceptance in general.
It's bad new since they see other decentralized currencies as competitors or uncontrollable enemies and will fight against national and international, the good thing.

If every country develops their own currency we will see lots of competition then there might be a place for all the cool, uncontrolled crypto we have today.
But anyway I think globally we will see a date driven war against crypto currency as we have seen against encryption in the past. The government worldwide want to be in control and "own" the currency. The winter is coming!!

That is only hype. China will never allow free market to grow in their lands. And if the market is not free, then there is no way to call it crypto market. Crypto market's main characteristics is that it needs to be decentralized.

 

[ElPaule]

I think its the digital yuan, No it is not that unfair for them. You know how china works stuffs there. I don't think they see airdrops as good

There's no link for an airdrop site , not even an airdrop if you read it , it is just a news of digital currency trial

Dude, I made a joke referring too BMF's airdrop forum

 

[Razor1911]

I think its the digital yuan, No it is not that unfair for them. You know how china works stuffs there. I don't think they see airdrops as good

There's no link for an airdrop site , not even an airdrop if you read it , it is just a news of digital currency trial

Actually didgital currency and crypto currency both are different. Both works in a platform which very different from each other. Digital currency are mostly regularized by some entities, where as crypto coins are largely decentralized.

 

[SCAMEXPOSER]

I think the digital Currencies the government of different countries are working on to launch will also run on blockchain network, their survival rely on Crypto currencies.

 

[Wisdom01]

It might be their plan to make the use of the digital currency more popular , what i don't seem to understand is the ban they placed on crypto currency to stop their financial institution from involving in it

 

[ElPaule]

It might be their plan to make the use of the digital currency more popular , what i don't seem to understand is the ban they placed on crypto currency to stop their financial institution from involving in it

The reason is control, while they have full control over their own, centralized e-currency the control on decentralized, autonomous - often even anonymous crypto currency is zero. An authoritarian entity, that seeks to control their population in many different aspects can't allow a monetary system that is not in their control.

 

[SCAMEXPOSER]

The rate at which miners in China and the cryptocurrency enthusiasts are finding alternatives to the ban ,I don't think the digital yuan will meet their expectations.

 

[Wisdom01]

The reason is control, while they have full control over their own, centralized e-currency the control on decentralized, autonomous - often even anonymous crypto currency is zero. An authoritarian entity, that seeks to control their population in many different aspects can't allow a monetary system that is not in their control.

And one thing i noticed is that they want to have control over things , but in this modern era when they would ban and think it would take effect , now there are many options for citizens to take

 

[Bajaj]

A cryptocurrency that is controlled by the authorities loses its meaning. After all, it was originally used as a transfer of funds without tracking.

 

[Razor1911]

It might be their plan to make the use of the digital currency more popular , what i don't seem to understand is the ban they placed on crypto currency to stop their financial institution from involving in it

I don't think china will ever allow a fully decentralized digital coin market. In that way thr authorities won't be able to keep track of the money inflow and outflow. Where as I think they would launch a coin with some amount of regulations to control price.

 

[Wisdom01]

I don't think china will ever allow a fully decentralized digital coin market. In that way thr authorities won't be able to keep track of the money inflow and outflow. Where as I think they would launch a coin with some amount of regulations to control price.

It seems the government are trying to control the money supply to regulate inflation and deflation by banning crypto currency, but that won't happen because of the multiple choice to crypto usage

 

[Razor1911]

It seems the government are trying to control the money supply to regulate inflation and deflation by banning crypto currency, but that won't happen because of the multiple choice to crypto usage

Crypto market will only flourish if it is decentralized. The free price movement is the center of attraction for the investors. But when china will launch their own coin and regulate it by some entities, that will not be a pure crypto anymore.

 

[Wisdom01]

Crypto market will only flourish if it is decentralized. The free price movement is the center of attraction for the investors. But when china will launch their own coin and regulate it by some entities, that will not be a pure crypto anymore.

Its no more going to be decentralised again but now centralised , because its apready been controlled by some entity ,so Its not crypto

 

[Razor1911]

Its no more going to be decentralised again but now centralised , because its apready been controlled by some entity ,so Its not crypto

If the govt is controlling the price, that means it doesn't fall in the criteria of a free decentralized crypto market. It is just a hype if they launch it or not, but I disagree it would give any competition to bitcoin or its siblings.