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Author Topic: Yuan Joins Elite Currency Club  (Read 1945 times)
Pab
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December 02, 2015, 10:54:20 PM
 #1

 Historic moment.Yuan has been added to SDR

China’s yuan will be added to an elite basket of global currencies used by the International Monetary Fund, in a boost to Beijing’s global economic ambition

Whatever we  think it will have huge impact on global economy and Chinise very much

In article below you can read what is that mean.Dont ask about btc price,btcprice mayrisea little,becouse yuan will propably lost to us dollar at the begining

http://www.theguardian.com/business/2015/nov/30/qa-chinese-yuan-set-to-join-imf-currency-basket

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December 03, 2015, 07:33:48 AM
 #2

Still , it means the Yuan probably will devaluate more, and this time the government will have less ability to intervene the way they have before.
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December 03, 2015, 07:55:24 AM
 #3

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

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Zawamiya
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December 03, 2015, 08:07:09 AM
 #4

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

That is highly unlikely.

First, Bitcoin would need to become a reserve for a country.
CoinBateman
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December 03, 2015, 08:08:29 AM
 #5

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

That is highly unlikely.

First, Bitcoin would need to become a reserve for a country.

Its very possible that a government will create their own crypto currency. But you're right, for Bitcoin, I don't see that happening.

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December 03, 2015, 08:21:58 AM
 #6

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

That is highly unlikely.

First, Bitcoin would need to become a reserve for a country.

i can see this happening easily in some corrupted country, that are very poor, if bitcoin will have big adoption in 5 years

does countries like liberland count for this? i doubt but maybe  Cheesy
FruitBucket
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December 03, 2015, 08:57:44 AM
 #7

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

Bitcoin or other cryptocurrency will join too, but it will take decades. It took 35 years for Chinese Yuan to join the club.
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December 03, 2015, 09:01:42 AM
 #8

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

Bitcoin or other cryptocurrency will join too, but it will take decades. It took 35 years for Chinese Yuan to join the club.
Bitcoin is attracting users from across the globe, to be used as a internet currency. You can't say the same about any other fiat.
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December 03, 2015, 09:38:10 AM
 #9

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

Bitcoin or other cryptocurrency will join too, but it will take decades. It took 35 years for Chinese Yuan to join the club.
Bitcoin is attracting users from across the globe, to be used as a internet currency. You can't say the same about any other fiat.

exaclty
We have to reimagine our vision about money. First time in history we have something that scale trust and we can send it across the internet. Its much more than money

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Pab
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December 03, 2015, 02:12:12 PM
 #10

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

I bet in 5 years will be not SDR,or will be but only like a relict
For sure will be no Euro,faster than 5 years

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Mickeyb
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December 03, 2015, 02:25:07 PM
 #11

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

That is highly unlikely.

First, Bitcoin would need to become a reserve for a country.

i can see this happening easily in soem corrupted country, that are very poor, if bitcoin will have big adoption in 5 years

does countries like liberland count for this? i doubt but maybe  Cheesy

Liberland is a freaking joke! A tent, a flag, this guy that has proclaimed it a country and million of mosquitoes! Trust me, I know quite well this part of the world!

If we will rely on Liberland, we won't get much further! Smiley
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December 03, 2015, 02:33:18 PM
 #12

Doesnt that mean that international trade with yuan will become much easier?
Wont that be bad for bitcoin in the long run (or atleast less demand from chinese)?

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December 03, 2015, 04:46:08 PM
 #13

Doesnt that mean that international trade with yuan will become much easier?
Wont that be bad for bitcoin in the long run (or atleast less demand from chinese)?


The fact written at the main post have nothing to do with your guesses. International trade will not depend from yuan. Will have the same structure except the countries which have privileged collaboration and commercial activity with China. Maybe this action will affect in some way their national monetary policies.

Then, the action written at main post have nothing to do (at all) with bitcoin. Bitcoin has its followers which will not abandon it because yuan was entered at the basket of money that will be considered by IMF in their world monetary policies or in their other financial products. IMF and yuan have nothing to do (at least for the moment) with the market of bitcoin and with everything has to do with it. Bitcoin is yet nothing as an actor compared to this kind of actions which have to do with world monetary policies and not with very small legal markets as it is in this time the market of bitcoin. As for the simple Chinese nothing will change with this action. Have not to do at all with their everyday life. And even less with their actions regarding bitcoin. So who mine bitcoin will continue to do this, who buy bitcoin will continue to do this, who change bitcoin will continue to do this and who use bitcoin to buy several things at the market will continue to do this. Naturally if they will continue to have desire to do such actions. And will be not the fact written at the main post which will affect in some way such their actions.
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December 05, 2015, 09:23:22 PM
 #14

Been saying this for the last 2-years, the Yuan IS going to become the world's reserve currency. Better trade those greenbacks into something worth something very soon.

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December 06, 2015, 12:53:54 AM
 #15

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

That is highly unlikely.

First, Bitcoin would need to become a reserve for a country.

i can see this happening easily in soem corrupted country, that are very poor, if bitcoin will have big adoption in 5 years

does countries like liberland count for this? i doubt but maybe  Cheesy

Someone's backyard is hardly a country.
Bitcoin could join in one day; if we get our goal of proportional growth as block reward goes almost to zero.

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December 06, 2015, 02:27:25 AM
 #16

In fact, the scale of USD in SDR did not change, it is the other currencies were pressed down, means that IMF is still controlled by US bankers

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December 06, 2015, 02:57:41 AM
 #17

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

I bet in 5 years will be not SDR,or will be but only like a relict
For sure will be no Euro,faster than 5 years


I doubt bitcoin will actually join it.

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December 06, 2015, 03:28:57 AM
 #18

I bet that in 5 years from now (even faster) Bitcoin or other cryptocurrency will join too.

Highly unlikely. I am not even sure whether Bitcoin will survive for another 5 years. Countries such as Russia and the United States are looking forward to put more and more restrictions on the usage of Bitcoin and the other crypto-currencies. And the BTC adoption has stagnated for the last two years or so, with trade volumes declining year after year.

                               
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December 06, 2015, 04:38:02 AM
 #19

Doesnt that mean that international trade with yuan will become much easier?
Wont that be bad for bitcoin in the long run (or atleast less demand from chinese)?


The fact written at the main post have nothing to do with your guesses. International trade will not depend from yuan. Will have the same structure except the countries which have privileged collaboration and commercial activity with China. Maybe this action will affect in some way their national monetary policies.

Then, the action written at main post have nothing to do (at all) with bitcoin. Bitcoin has its followers which will not abandon it because yuan was entered at the basket of money that will be considered by IMF in their world monetary policies or in their other financial products. IMF and yuan have nothing to do (at least for the moment) with the market of bitcoin and with everything has to do with it. Bitcoin is yet nothing as an actor compared to this kind of actions which have to do with world monetary policies and not with very small legal markets as it is in this time the market of bitcoin. As for the simple Chinese nothing will change with this action. Have not to do at all with their everyday life. And even less with their actions regarding bitcoin. So who mine bitcoin will continue to do this, who buy bitcoin will continue to do this, who change bitcoin will continue to do this and who use bitcoin to buy several things at the market will continue to do this. Naturally if they will continue to have desire to do such actions. And will be not the fact written at the main post which will affect in some way such their actions.

what?
the biggest btc demand comes from china how does cny have nothing to do with btc?

also i said int. trade with yuan will get easier because there wont be need of an intermediary to settle stuff.

china is one of the biggest export nations you thing everyday chinese wont notice if their currency will devalued?

i kinda think you have no clue what you are talking about

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@sig-campaign: please stop farming your sig campaigns with useless bs ._.

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December 06, 2015, 07:01:32 AM
 #20

I wonder if this means that that the Chinese State will have less control over the Yuan but it means on a good note that it is a trusted and respectable player among world currencies..At least the Yuan is a much more solid fiat currency to invest in I think for the time being..

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