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[AudraMiller]

One of the major developments that have happened on the Chinese financial system is the fact that they have introduced a digital version of the Fiat currency which essentially operates as a cryptocurrency they can be used within the country. This has proven to be quite successful in its early stages and therefore it is being implemented in other regions of China as well. Do you think that this will cause a chain-reaction globally in which most countries will start to implement a digital version of the Fiat currency? Charlie Munger says that he wishes to see these financial systems in the USA in the future.

 

[Wisdom01]

I think the China digital currency useage , have been steering multiple reaction and i think it was caused by the government taking look at banning crypto currency and adopting the use of the digital currency this contributed to issues of crypto innovation in the country

 

[Hashay]

China has been one of the leading countries in crypto innovation so their backing out now is definately having some effect in the market at large.

 

[Wisdom01]

China has been one of the leading countries in crypto innovation so their backing out now is definately having some effect in the market at large.

I think they once had effect on the market but dont know of now if its still reflecting , and they spoilt things up by banning crypto an avenue for them to earn more

 

[Hashay]

I think they once had effect on the market but dont know of now if its still reflecting , and they spoilt things up by banning crypto an avenue for them to earn more

We are still largely seeing the effects of china's ban on crypto if that did not happen the market would most likely have recovered.

 

[Wisdom01]

We are still largely seeing the effects of china's ban on crypto if that did not happen the market would most likely have recovered.

Well its been more than months since the ban , although the china ban took it to the price too since there were fears among investors , i just hope a comeback could take place

 

[Pousinha]

I'm not sure, but probably various countries will follow China's example and begin to coin their own local digital currencies. Maybe the consequence will be a competition between the cryptocurrencies and these local digital currencies.

 

[Josemendez]

I don't think that their digital Fiat currency will have any global impact because it will be available locally for trade. It is not Volatile , so no need for people to key in

 

[Hashay]

Well its been more than months since the ban , although the china ban took it to the price too since there were fears among investors , i just hope a comeback could take place

Has it been months? I definately don't think so, there were only speculations and decisions were just reached last month I think.

 

[Wisdom01]

Has it been months? I definately don't think so, there were only speculations and decisions were just reached last month I think.

I think it was during may, that the ban was intiated and there was large fall in the price of bitcoin then , so it was far i think but dont know about the effect

 

[Hashay]

I think it was during may, that the ban was intiated and there was large fall in the price of bitcoin then , so it was far i think but dont know about the effect

The fall in prices started in the late parts of April and there are speculations that was caused by elon and whales, it wasn't about china's ban then

 

[Wisdom01]

The fall in prices started in the late parts of April and there are speculations that was caused by elon and whales, it wasn't about china's ban then

It fell but not to the extent , atleast there were expectation of correction to bring it back to $50k plus then , but the China ban weaken things and spoilt it up , you could check the chart to see

 

[Hashay]

It fell but not to the extent , atleast there were expectation of correction to bring it back to $50k plus then , but the China ban weaken things and spoilt it up , you could check the chart to see

We're saying the same thing, the first fall in the market was not really significant but it was also not caused by china ban too.