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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

 

[Wisdom01]

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.

it cant compete with bitcoin,,i am sure of that , the only thing is i dont know its kind of infulence over the crypto users

 

[microunit]

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

Well yeah as cryptocurrencies are supposed to be decentralized, it's kinda different if it's digital currencies though as it is regulated to a point

 

[Razor1911]

Well yeah as cryptocurrencies are supposed to be decentralized, it's kinda different if it's digital currencies though as it is regulated to a point

Exactly. There's no way we can compare a digital currency launched by Chinese authority to a free market, fully decentralized crypto market. These two just have no match.

 

[microunit]

Exactly. There's no way we can compare a digital currency launched by Chinese authority to a free market, fully decentralized crypto market. These two just have no match.

yep, especially when it is china we're talking about considering that they've been strict with cryptocurrency regulation and even banning them

 

[HMMY1]

yep, especially when it is china we're talking about considering that they've been strict with cryptocurrency regulation and even banning them

Because in the coming time every country wants to bring its own digital currency in the market.China has taken this very well by bringing its digital currency in the market.Because everyone wants to bring his own digital currency in the market, because of which he is doing business and earn money.

 

[avassociates2020]

China's version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China's government vast new tools to monitor both its economy and its people. By design, the digital yuan will negate one of bitcoin's major draws: anonymity for the user.

 

[Razor1911]

Because in the coming time every country wants to bring its own digital currency in the market.China has taken this very well by bringing its digital currency in the market.Because everyone wants to bring his own digital currency in the market, because of which he is doing business and earn money.

Every country do have their own digital currency. What do you mean by a dogital currency, It is not crypto currency. You must not link both, digital currency can never take the place of crypto currency.

 

[microunit]

Because in the coming time every country wants to bring its own digital currency in the market.China has taken this very well by bringing its digital currency in the market.Because everyone wants to bring his own digital currency in the market, because of which he is doing business and earn money.

A countries digital currency can only be in that countries restriction it cannot enter the cryptocurrency market if that's your point

 

[Razor1911]

A countries digital currency can only be in that countries restriction it cannot enter the cryptocurrency market if that's your point

Though it can be procured, traded and invest by other countries too, but the control will solely rely upon the countries jurisdiction. The monetary policy of a country will decide the value of the that currncy

 

[microunit]

Though it can be procured, traded and invest by other countries too, but the control will solely rely upon the countries jurisdiction. The monetary policy of a country will decide the value of the that currncy

yep, it quite the same as each countries physical currencies just that it is entirely digital, not sure what specific unique features these digital have though

 

[Wisdom01]

China's version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China's government vast new tools to monitor both its economy and its people. By design, the digital yuan will negate one of bitcoin's major draws: anonymity for the user.

The ueers anonymity woup be gone and i am sure that not every users would love the development ,as many might still opt in for crypto

 

[Niftyicon]

Their digital currency has been in the news for a while now and many people speculate it is the reason for the strict measures being taken against Cryptocurrencies. I hope the trial goes well but the government still leave the people with choice of using Cryptos.

 

[Razor1911]

Their digital currency has been in the news for a while now and many people speculate it is the reason for the strict measures being taken against Cryptocurrencies. I hope the trial goes well but the government still leave the people with choice of using Cryptos.

No matter if such digital comes and goes, crypto market will always be there. We must understand that crypto and such digital currencies are completely different and has nothing to do in relation to each other.

 

[microunit]

Their digital currency has been in the news for a while now and many people speculate it is the reason for the strict measures being taken against Cryptocurrencies. I hope the trial goes well but the government still leave the people with choice of using Cryptos.

yeah, I think the china government thinks that cryptocurrencies is a hindrance in the growth of their digital currency that's why they've implemented strict rules and bans

 

[Wisdom01]

Their digital currency has been in the news for a while now and many people speculate it is the reason for the strict measures being taken against Cryptocurrencies. I hope the trial goes well but the government still leave the people with choice of using Cryptos.

The government once stopped the financial institution from dealing with bitcoin, and i have a feeling that they are now showing less support for all crypto

 

[SCAMEXPOSER]

yeah, I think the china government thinks that cryptocurrencies is a hindrance in the growth of their digital currency that's why they've implemented strict rules and bans

If that is what they think then might likely think more because the cryptocurrency market is what is gonna be the driving factor.

 

[Wisdom01]

yeah, I think the china government thinks that cryptocurrencies is a hindrance in the growth of their digital currency that's why they've implemented strict rules and bans

This might be true because they have done so much regarding promoting their crypto currency , and maybe their citizen don't want to adopt the use

 

[Brain]

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

Oh wow this is a good one from them to their citizens. I wish my country can follow suits.it will be a good one for the people here. So one for the Chinese

 

[Razor1911]

If that is what they think then might likely think more because the cryptocurrency market is what is gonna be the driving factor.

China needs to revise its policies. Their policy is mostly self centric and authoritarian. They seems not to listen to the public. The bitcoin market is booming Everywhere and almost 70% mining revenue goes to Chinese miners. But if govt ban it, their people will suffer the most.

 

[microunit]

If that is what they think then might likely think more because the cryptocurrency market is what is gonna be the driving factor.

Well china really likes to just keep to themselves whats in their country and ban other stuff that is not from their country, so by that thinking prob some of them are prob even against crypto