While the PBoC has yet to confirm the launch of "DCEP," China's finance tsar Huang Qifan says that the central bank has been studying it for almost six years
Huang Qifan, executive vice president of the China International Economic Exchange Centre, has confirmed that the People's Bank of China plans to roll out its own digital currency, which will be called "DCEP" (digital currency electronic payment).
China Finance 40 Forum (CF40), the organization that focuses on finance policy research and academic exchange, published a video that features an excerpt from Qifan's speech during the inaugural Bund Summit that is taking place from Oct. 27 till Oct. 29.
Qifan reveals that China has been working on the project for about five or six years. After the launch of the DCEP coin, the PBoC will become the very first central bank in the world to issue its own cryptocurrency.
Tongues have been waggling about the state-backed Chinese digital currency for quite a while. As reported by U.Today, it could pose a serious threat to AliPay and WeChat Pay.
Latter, it seemed like the "China Coin" was temporarily shelved -- a source close to the Chinese Communist Party revealed that the cryptocurrency would not be launched anytime soon.
However, President Xi Jinping's embracement of the Blockchain technology has put China at the forefront of the crypto conversation once again. A senior Chinese official also opined that Blockchain needed "special attention" after Xi's comments.
At this point, China is poised to become a leading crypto force despite formally opposing it. Bitcoin remains banned in China despite the fact that local miners are responsible for 70 percent of its hash rate.
SourceNow that Chinese Government is boldly showing their development in issuing the world’s first state-backed digital currency, will other countries follow the same path? What could be its implications to Bitcoin and cryptocurrencies? This might be a negative news for bitcoin and other cryptocurrencies if China launched this digital currency as most people might dump crypto and switch to this newly developed digital currency and there are possibility that China might impose overall ban on crypto and mining to give a push to their digital currency. This is just my opinion. |
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Actually institutional money has a good impact because it can increase bitcoin and is one of the main drivers of rising prices for bitcoin or cryptocurrency, even though institutional money is not in accordance with Satoshi Nakamoto's original vision but with the development of bitcoin or cryptocurrency we also need to evolve which can trigger an increase in the price of bitcoin or cryptocurrecy.
and most likely in the future there will be other revolutions or other unexpected things.
Institutional money is a good thing until it does not take over the market and try to manipulate it for their profit. Obviously the main reason behind the institutional money is better return on investment but we can make use of it during the price rise and it will be ourself or somebody else who will be at the receiving end when they cash out. We have already diverted from the basic reason why bitcoin was crested a sit was th e need of the hour and we can not afford to go back to the beginning so as you mentioned we need to ride with the wave. |
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China is very intelligent in the role of the world economy, let alone the Chinese government has already announced to legalize cryptocurrency at 2020 in early January, I think that every decision making already has a strategy in the crypto world that can make Economic advantages for the Chinese state.
Yes they are very genius in making policies to compete with the United States in the world economic competition. By adopting Blockchain technology and launching its own Crypto, So I think it will weaken the growth of the US Dollar, we look forward to how their Crypto will be launched at the beginning of the year. This is very much possible as they will never allow bitcoin or US dollars to dominate the market so they might come up with their own crypto backed by their national product and this will have impact on both bitcoin as well as US dollar but they might come up with their own centralized crypto rather than decentralized coin. I think we need to wait for some more time to see further development about this idea. |
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But bitcoin is decentralized. No one is controlling it. Having central agency means someone higher is controlling or regulating the users. I know the aim of this is for security since scams are rampant but it will obviously go against its nature.
Bitcoin is decentralized that's why we are responsible for every transactions we made. It's our own fault responsibilities if we lost our money. Even thoigh we put up an agency, it will still be hard to find your bitcoin back.
Exactly! If we have any sort of agency managing bitcoin to ensure security then it will no ;longer be known as decentralized and this idea might just kill bitcoin and other cryptos, we are better as of now without any sort of third party involvement and I am sure people are aware about escrow services to avoid getting scammed and if people do take risk to save those small amount of escrow charges and gets scammed then it's their mistake. We should never think of having any sort of regulators in bitcoin. Scams are everywhere let it be crypto, real world trades, banks and all it's upto people to be cautious. |
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As an investor or bounty hunter, you have dedicated either your funds or time for a pjoject and it turns out to be a fail project, what next?
Many at times we have come across this situations and I see a lot of negative posts from different bodies about this projects, y? Because people are hurt and have lost precious time and capital.
I suggest that whenever this situations arise, rather than telling the whole world how you messed up, tell yourself never again and pick up your pieces, go back to the drawing board and never repeat 🔂 that same action that lead you to following and supporting a failed / scam project in the first place.
Beware guys!
I have been a part of several projects like timebox, chynge and Athero wherein I have invested my time but in return got some tokens which were worthless and there was noone to buy that tokens when it comes to timebox and yet to receive any tokens for chynge, Athero distributed the token after dumping it and now there is no buyers for that. I blame myself to be a part of these failed projects for enrolling with them just by going through their website and fake credentials post which I did not join any bounty as it was a lesson for me. |
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I’m rather curious about what are the best Crypto sites to trade Cryptocurrency & if they have a mobile application because my PC has broken down recently and I currently have only my smartphone (iPhone) with me right now that I can use in order to trade cryptocurrency.
Almost every exchange is available in mobile version which you can use based on your need and the type of coins you want to trade I would suggest to go for Binance I have used it in Android version and it's user friendly and handy to trade especially automated trading during the fluctuations. It's also available for IOS version as well. You can use the following link to check the details and download it. https://apps.apple.com/hk/app/binance/id1436799971?l=en |
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Opportunities such as 2017 are bound to happen just waiting for the right time, maybe in the 1st quarter of 2020, many experts want that Halving will happen soon and this will create a new explosion in the price of bitcoin might be able to reach 30k especially with China will adopt the blockchain as global marketing.
I really wish this happens and China could adopt blockchain technology but not sure about crypto as blockchain is a technology wherein bitcoin and crypto are based on the blockchain technology so it does not mean China will be promoting crypto but halving will play a major role as it will increase the demand and reduce the supply which might prompt a pump but I don't think it would be similar to 2017. If bitcoin reaches atleast $15k by the end of this year or beginning of 2020 then it would be a positive sign for us. |
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Yep, that's the consensus. But not until late 2020 or 2021. Can't have a 50-100x bull run every year. After such a parabolic bull run, a 1 year long bear market is to be expected. Like in 2014 and 2018.
You should watch Bob Loukas' youtube videos about market cycles and his "4 year journey" project.
Will do watch the videos and yes we cannot expect similar bull run every year but I think we can expect a decent value against the bearish market we had been through and if things go in right direction we might see gradual increase and less number of dumps as this 18 months bearish market can be considered as correction period as we have seen some worthless altcoins exiting the market and still the market is being saturated because of the increasing coins in CMC and altcoins dying a slow death. |
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You have tried so hard investing in different ICO and IEO without any success, you have lost at every investment you made, it is time to take a break. You have participated in hundreds of bounty campaigns without anything to show for it, it is time to take a break. You have been a bounty manager for years now buy every campaign that you have managed has ended up a scam or shit, it is time for you to take a break. Though some may advise you to try harder but i put it to you take a break, you cannot live all your life trying harder. Maybe you need to enjoy the forum for some times making necessary research and reading through every quality post to learn necessary things. You can also try your hands on other things. Get things straight, no matter how hard we try, we cannot all succeed in the crypto sphere. As an investor, stop loss. As a bountyhunter save your time for something reasonable. As a bounty manager, i know your integrity is important to you.
Take a break!
This just described the situation of most of the people over here in this forum, but I wish just by taking the break everything can be fixed as it does not work that way because a portion bitcointalk.org forum users are fully dependent on crypto based projects like bounty, Ann thread, signature designing and bounty management for their livelihood and they cannot just take a break. We need to learn from the mistakes we made and try valuing our time and avoid working for such scam projects anymore. I know not everyone of us can succeed in this crypto sphere but we all can try and not give up until we get the project which can change our lives. |
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I just saw a news that yesterday Brac Bank Talking about blockchain technology and they also working to legal blockchain technology.Maybe this is the first time any Bank in Bangladesh talking about blockchain.Though few months ago Bangladeshi PM told that blockchain technology will be legal soon.Now just waiting for confirmation that bitcoin (blockchain) is accepted.Because we faced many problem to use btc,even few people arrested.also in 2018 one people scammed me 4-5.5K$ worth of crypto currency.who live in Bangladesh. Even he scammed maybe more than 300k$ from 20-30 peoples.Though i have all kind of proof but i didn’t take any steps because crypto is illegal.I didn't take any steps.because police can arrest me for using bitcoin. News source: https://www.thedailystar.net/business/news/pri-brac-bank-workshop-focuses-blockchain-sme-1819279?ampIt will be a great news if Bangladesh lifts the ban on bitcoin because it will be a wild market for bitcoin as most of the people is south Asian nations are well versed with bitcoin and crypto unlike other part of the world and definitely they will contribute in a positive way to the world of crypto but we cannot celebrate just with the news of blockchain legalization by Bangladesh government as they can use it in banking sectors or adopt a centralized crypto such as ripple by still placing the ban on bitcoin, blockchain is a vast technology which crypto uses and other non crypto domains does use blockchain. Even if the country revokes the ban on bitcoin it's people should also support it instead of scamming or using it for wrong purpose. |
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I've been tossing around the idea of starting a group of people who are committed to buying Bitcoin every month. Can be a small portion, like 5$, or however much people can afford (I suppose it would make sense to use higher amounts for fee reasons, though). I myself have set up a monthly wire transfer from my bank account to Coinbase and a recurring purchase of Bitcoin every 1st day of the month. This is really simple, and you keep investing and $-cost-averaging your BTC purchases. Who's in? I created a Google Form where anyone who wants to "join" can do so: https://forms.gle/rjD81677yipAVhtaAThis is too risky and not sure if this will work out in this volatile environment as what you are planning involves money from a group of people and you will be held responsible if things don't go well because most of them might not invest small amount due to the transaction fee as you have already mentioned and there are some people who might be concerned about their anonymity as well. Anyways all the best with your project but please do give it a second though to eliminate the risks and start with a small group of users like your friends and then grow the group gradually if it works. |
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The year 2017 was a golden year for bitcoin wherein it got global attention after the crazy pump in it's value but are we still expecting a repeat of 2017 for the end of 2019 or beginning of 2020 ? Do we have any concrete proof that we will experience bull run apart from the bitcoin halving ? We expected the same last year but ended up in disappointment and will it be wise to expect the same or we can expect a decent pump if not multi fold increase in the value of bitcoin and altcoin ?
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Who you think can answer this?
Bitcoin just saw a jump of almost 30% and no one has a reason to justify it. This shows how unpredictable the market is. Don't lose on other opportunities by waiting for the "BOOM" like 2017. We might not see a growth in triple digits but you can multiply your returns by taking leverages (but be cautious when trading with leverages). Try to make the best out of the present volatility. If you are in for long term. stay in BTC till the next halving. Past trends have shown that halving is usually followed by an uptrend.
Even I was skeptical about the recent market fluctuations and even made some posts advising people not to react to these fluctuations but I think we can make good amount of profit with these volatility because what if the expected bull market never returns even though we have high hopes in bitcoin halving but still we need to be prepared for the worst. I would still say trading during this volatile situation is not everyone's cup of tea but it will be better for seasoned traders and users to get benefited by the fluctuations. |
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What you are inquiring is called spamming in simple terms and I a not sure if any such tools exist to my knowledge but if you have any plans of doing what you have mentioned I would warn you as you might be termed as spammer and people will just leave the group with a negative view about your group and if it's in regards to a crypto project then this will land in Meta section thus hampering the reputation of project.
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Sometimes I see rules for staring "good" ICO and one of all paragraph - deanon of creators. But exist countries, in which crypticurrency has been banned and creators have a chance go to jail to 5+ years (examle, Ukraine (if project have a anonymous coin transfer/stablecoins)). If I dont write about myself, I am a scammer (thinked users of bitcointalk). If I write - Im will a convict. What to do?
Well, this is a very complicated situation it's like you will face legal consequences if you reveal your identity and jailed, if you don't reveal your identity no one is gonna trust you and your project will sink before it starts. I used suggest if you are confident about your project then move out of your county and settle your base to a crypto friendly nation rather than taking risk of being arrested or termed as scammer. |
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This will be a welcoming news for all and it would send a positive waves across the crypto market and give a fresh push to the altcoin market as well. There has been many positive news about the growth of bitcoin after China's announcement but not sure how far this will go as projected. We can believe in any pump when it will last over a week's time to avoid any bull trap. |
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This is a very interesting point of view, because if I look back, it is clear that so many coins that were in top 100 are simply gone. It is the survival of the fittest and I hope that altcoins will finally defeat BTC one day.
Altcoins cannot defeat bitcoin as they need bitcoin in order to survive and if you research on last two bear market where altcoins had a bloodbath both were due to the fact that the value of bitcoin declined and rather I feel we will see end of almost 30% altcoins which are currently listed in coinmarketcap leaving only the valuable assets behind. |
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We will survive it if it really will happen. If its a global economic crisis, that would mean there will be war but I don't see that happening actually when the other side like the China and Russia ain't up to war. These countries seem not experiencing anything in their economy other than going up. Warren will always spread fear, he loves doing that because he wants to invest, the old dog is getting old.
Few people realize this, but I think there is a high probability for gold to go down in price in the years to come. Around 80% of all gold consumed each year goes for making jewelry. Imagine what if wearing gold comes out of fashion? It's not hard to imagine for me because most people I know don't wear gold. It is considered as something old-fashioned already, not by everyone, of course, but by those who want to keep up with the times. People have been wearing gold for many centuries because it made them look richer than they were. But being rich is not what is considered cool nowadays, right? In some part of the world people think that wearing gold will let the others to know about their financial status but like you said things changing most people like to be with bare or little designer jewel now so gold price could go lower,which still has the capability to hold for the next recession which is not going to be too far from now.One alternative we got is bitcoin now but the reality can be known after the crisis if it happens. Many people consider gold a safe haven, never bothering to look at the charts. But look closely. During the past 40 years gold wasn't always the right thing to invest in. If someone bought gold in September 1980, what was awaiting them were years and years of frustration, until when in September 2007, 27 years later, gold price reached the same level, and started to rise. As of more recent years, those who bought gold in August 2011 are still waiting for the price at least at the same level. I mean, history shows that, even without going out of fashion, gold shouldn't be always considered a good investment. I'm not trying to say that Bitcoin or anything else should, no. But gold shouldn't either. Gold is definitely not something to invest because we have to wait ages to get some sort of profits but it does not worth the waiting period but gold can be used as a secured way of storing money by converting it into gold as gold is at least upto the market value of fiat if not profitable. If one 1 gram of gold costed $5 before 15 year it now costs around $50 now and the expenses has inflated as well so I would say gold can be used as savings to match up to market inflation rather than storing the money as fiat but it's not a successful source for investment. |
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Most coins have no NAV (Net Asset Value) that would back their price, so to derive a fair value is incredibly hard. There are models like the one formalized by Chris Burniske ( https://medium.com/@cburniske/cryptoasset-valuations-ac83479ffca7), but this is based on monetary supply theory and can only be used to derive a lower bound for the price. I have noticed some of the new altcoins are being backed by assets like gold, charcoal, renewable energy, oil and petroleum as they want their price to be based on their backed assets rather than just demand and supply which can be easily manipulated and it's good to see assets backed coin entering the market which might be a game changer if managed well. The current valuations are mostly based on speculation, not the actual GDP that's being produced using them, so it gets even harder. This is why - across the field - technical analysis is what most analysts are sticking to. There are some new altcoins which are backed by assets like gold charcoal, renewable energy, oil and petroleum etc which might be the game changer as there as they will not be dependent on just demand and supply which is prone to manipulation rather they have real products to be bases upon. More investors will be attracted to these assets backed crypto than traditional one. |
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I really hope so, because after the positive news from China towards the cryptocurrency, bitcoin was growing in price very quickly and altcoins grew a little bit, so we hope that the altcoin season will begin soon and investors from China will begin to invest in cryptocurrency even more than before, because China is a huge investors market.
But don't you all think this news is suspicious as I am honestly bit afraid if this is an attempt by China to hijack the crypto market as well because they were opposing it for so long and now this news comes out as a positive hope for crypto but not sure about their long term plans and thus it's too early to comment as we have no idea what's going behind the scene. |
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