China central bank going to release their own digital currency good for bitcoin?

[Amph]

it's the same shit as citycoin, nothing will change those coin will be centralized, akin to a pos coins that is distributed by a single entity and the value will be given by this entity

so i can not see how this is will be a competitor of bitcoin really, any centralized thing will not be a competitor of bitcoin

Ahh yes.. centralized... can't have that... oh wait... bitcoin is centralized...

where is bitcoin centralized? mining, where, all pool are working alone and they ar enot mining 51%, farms? where? all farm are governed by their entity which has nothing to do with another farm, even between farm from the same country

Convince the operators of antpool and f2pool to change the system one way or another and there you have your 51%

yeah a 51%(still you need to convince them...i doubt) that will not hardm the network in any way, like with ghash in the past

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[Karartma1]

We are talking about China, basically a dictatorship. What will happen when and if they will also be able to control the money supply thanks to any digital mean? I don't know but that does not look good to me.
As others said this coin will have nothing to do with BTC.

[spazzdla]

We are talking about China, basically a dictatorship. What will happen when and if they will also be able to control the money supply thanks to any digital mean? I don't know but that does not look good to me.
As others said this coin will have nothing to do with BTC.

I have been warning of the power blockchain gives to govs... it's a very dangerous tool... Those claims the NSA created are starting to get a bit of traction with me.. the prefect tool for enslavement of the entire human race hidden as the thing that will free us.. brilliantly evil

[cellard]

This is fantastic for Bitcoin. It will turn out to be just yet another altcoin run by incompetent drones without a cypherpunk backwrong which are the people that always deliver the best software in the open source field. This will be a great way to make some extra Bitcoin tho.

[QuintLeo]

We are talking about China, basically a dictatorship.

 Oligarchy, actually - but it's still a SMALL circle of people that control the place, not even in the ballpark of a representative type government, and a government that seems inclined to start trying to push it's weight around in disreguard of the international community (though not as beligerant about it as North Korea, China seems more inclined to actually PUSH things the last couple years).

[Karartma1]

We are talking about China, basically a dictatorship.

 Oligarchy, actually - but it's still a SMALL circle of people that control the place, not even in the ballpark of a representative type government, and a government that seems inclined to start trying to push it's weight around in disreguard of the international community (though not as beligerant about it as North Korea, China seems more inclined to actually PUSH things the last couple years).

Yes sorry my bad. Anyway I'm afraid China does not have a good reputation so far even if it can't be seen as North Korea, or at least, not at the moment.

We are talking about China, basically a dictatorship. What will happen when and if they will also be able to control the money supply thanks to any digital mean? I don't know but that does not look good to me.
As others said this coin will have nothing to do with BTC.

I have been warning of the power blockchain gives to govs... it's a very dangerous tool... Those claims the NSA created are starting to get a bit of traction with me.. the prefect tool for enslavement of the entire human race hidden as the thing that will free us.. brilliantly evil

Aldous Huxley predicted it as I see it in Brave New World: we will be put in chains by the things we liked more than those we don't.
Yes, brilliantly evil if it will happen.

[Searing]

well they banned btc w/o having their 'own digital currency'

it would be 'my guess' that if they did have such a digital china govt backed currency

released it...and BTC or LTC or whatever  started to 'kick its butt'

they would turn around and 'ban' all crypto but their 'own'

not saying it is the 'brightest' strategy..but how they run and manipulate their own

stock market....seems frigging likely imho

my 2 Satoshi's worth

(the ways of the Chinese gov't are mysterious to me...now if their coin was sha-256 based....no pre-mine starts at say midnight x/x/xxxx
well I'd crank the old KNC 550 gh Jupiter up...and paint me a 'pinko china red'

heh...talk about getting 'adoption' every frigging usb stick/old asic and gpu piece of crap would be a 'blazing' off the mark lol

alas my knc 550 gh Jupiter miner now acts as a 'gravity assist device' to keep my miner workbench on the earth

lostgonzo.imgur.com

my setup (see album with exhaust fan pic..which I can't seem to change) soon they will all be 'doorstops'

likely the China coin should it exist would be 'POS' anyway imho

anyway ..my 'guess' is if their govt coin got some kinda 'traction' (prob by tossing $$$ at it ..its what china gov't does)

then suddenly 'btc' would be 'evil' again