Welcome to BeerMoneyForum.com - We Help Each Other to Make Money Online

Join us now to get access to all our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, and so, so much more. It's also quick and totally free, so what are you waiting for?
Blue
Red
Green
Orange
Voilet
Slate
Dark
  Guest viewing is limited

❕NEWS China's digital currency to compete against Alipay and other similar

Razor1911

Emerald Member
LV
0
 
Joined
May 11, 2021
Messages
3,153
Reaction score
114
Points
150
Awards
1
Location
India
Website
theFreeDollars.com
BMF Points
11,315
Rating - 100%
2   0   0
Yeah that's it they would peg it to their currency so that when people use the coin they will gain more revenue from people making use of it for exchange
Mostly they will have their regulation measures intact. And Whenver the price will start deviating from what they have already set, then they will regulate it and the price will come back ro their range. That's how monetary policy works.
 

Wisdom01

Ruby Member
LV
0
 
Joined
Jun 21, 2020
Messages
16,351
Reaction score
120
Points
150
Awards
1
BMF Points
5,497
Rating - 100%
1   0   0
Mostly they will have their regulation measures intact. And Whenver the price will start deviating from what they have already set, then they will regulate it and the price will come back ro their range. That's how monetary policy works.
It would be like a stable coin so we might not see any deviation in price , the only issue i am more concerned about is that they could use this as a tool to control the money supply and others
 

Brain

Sapphire Member
LV
0
 
Joined
Dec 27, 2018
Messages
7,779
Reaction score
105
Points
150
Awards
1
Location
Nigeria
BMF Points
3,894
Rating - 0%
0   0   0
I think they feel that the digital asset would only be made popular and get more attention if bitcoin is banned ,that is why they are doing their best to ban it
That might just be it, because I know humans like to think this way. The believe to win you must remove totally your. Competitor so lets see if it will work this way for them
 

Wisdom01

Ruby Member
LV
0
 
Joined
Jun 21, 2020
Messages
16,351
Reaction score
120
Points
150
Awards
1
BMF Points
5,497
Rating - 100%
1   0   0
That might just be it, because I know humans like to think this way. The believe to win you must remove totally your. Competitor so lets see if it will work this way for them
I think they once try to adopt the two together but bitcoin overshadowed and didnt pave way for the existence of the digital currency
 

microunit

Sapphire Member
LV
1
 
Joined
Nov 27, 2019
Messages
7,175
Reaction score
263
Points
170
Awards
6
BMF Points
2,491
Rating - 0%
0   1   0
It would be like a stable coin so we might not see any deviation in price , the only issue i am more concerned about is that they could use this as a tool to control the money supply and others
Not sure how they would control the supply , because if they do it might or will be apparent in the price, and usually stablecoins are controlled so when its price go up more supplies are given in the market to control the price
 

Razor1911

Emerald Member
LV
0
 
Joined
May 11, 2021
Messages
3,153
Reaction score
114
Points
150
Awards
1
Location
India
Website
theFreeDollars.com
BMF Points
11,315
Rating - 100%
2   0   0
Not sure how they would control the supply , because if they do it might or will be apparent in the price, and usually stablecoins are controlled so when its price go up more supplies are given in the market to control the price
It will more probably work as a normal digital currency like USD, or something. The supply would be same, but with altering the other aspects like charge while transaction, interest while holding etc. Demand can easily be manipulated.
 

Wisdom01

Ruby Member
LV
0
 
Joined
Jun 21, 2020
Messages
16,351
Reaction score
120
Points
150
Awards
1
BMF Points
5,497
Rating - 100%
1   0   0
Not sure how they would control the supply , because if they do it might or will be apparent in the price, and usually stablecoins are controlled so when its price go up more supplies are given in the market to control the price
That is obviously the reason they are taking huge steps and fighting hard for the adoption of digital currency in the country ,so they could do all these
 

Brain

Sapphire Member
LV
0
 
Joined
Dec 27, 2018
Messages
7,779
Reaction score
105
Points
150
Awards
1
Location
Nigeria
BMF Points
3,894
Rating - 0%
0   0   0
I think they once try to adopt the two together but bitcoin overshadowed and didnt pave way for the existence of the digital currency
Lol what were they expecting, they shouldn't expect their not too known digital asset to overwhelm Bitcoin. I doubt it will ever work that way so let wait it out
 

microunit

Sapphire Member
LV
1
 
Joined
Nov 27, 2019
Messages
7,175
Reaction score
263
Points
170
Awards
6
BMF Points
2,491
Rating - 0%
0   1   0
It will more probably work as a normal digital currency like USD, or something. The supply would be same, but with altering the other aspects like charge while transaction, interest while holding etc. Demand can easily be manipulated.
Altering transaction charges is I think would not be good, but then again they would do anything they can to manipulate stuffs in their country
 

Wisdom01

Ruby Member
LV
0
 
Joined
Jun 21, 2020
Messages
16,351
Reaction score
120
Points
150
Awards
1
BMF Points
5,497
Rating - 100%
1   0   0
Lol what were they expecting, they shouldn't expect their not too known digital asset to overwhelm Bitcoin. I doubt it will ever work that way so let wait it out
It did not later work as planned and that is the reason they focused on banning bitcoin to pave more ways for their crypto to thrive more
 

Henrytuedor

Ruby Member
LV
0
 
Joined
May 12, 2021
Messages
10,766
Solutions
10
Reaction score
60
Points
135
Awards
1
Location
Lahore
BMF Points
390
Rating - 0%
0   0   0
So the plans actually started to work for the people that actually make every thing work , good chance they can make it trading in us as well , good development by China moving forward in business
 

REWARDS: Active Raffles


  • Roll 28: Win 100,000 BMF Points!

    The entry period for this raffle ends in..

Top Bottom

Earnings Disclaimer:  All the posts published herein are merely based on individual views, and they do not expressly or by implications represent those of BeerMoneyForum.com or its owner. It is hereby made clear that BeerMoneyForum.com does not endorse, support, adopt or vouch any views, programs and/or business opportunities posted herein. BeerMoneyForum.com also does not give and/or offer any investment advice to any members and/or it's readers. All members and readers are advised to independently consult their own consultants, lawyers and/or families before making any investment and/or business decisions. This forum is merely a place for general discussions. It is hereby agreed by all members and/or readers that BeerMoneyForum.com is in no way responsible and/or liable for any damages and/or losses suffered by anyone of you.