Stupid China will issue own digital currency

[BTCIndia]

I've been trying to boost inevitable "national-decentalized-crypto-digital-currency" for more than 2 years to people busy believing/promulgating Bitcoin as panacea within this "bitcoin community." They were too ignorant or incapable of seeing 'bigger' picture that lies beyond Bitcoin adaption in future. I'd like to again invite you to assess your position. Hope, techies have learned enough economy by now to determined potential impact of Bitcoin when adapted by masses.

[1714143075]

1714143075

[1714143075]

1714143075

[1714143075]

1714143075

[1714143075]

1714143075

[skang]

You are mixing two things here - Nobody is pushing bitcoin as a panacea here; sure there can be other cryptocurrencies.
What we did not understand & argued against (and still do not understand) is how can a decentralised cryptocurrency be bounded to nationality?
Maybe China has the answers, so kindly enlighten us? (If they do then they are certainly not 'stupid')

[RocketSingh]

It'll be a PoS coin in my opinion.

[skang]

It'll be a PoS coin in my opinion.

Ah! All PoS coins have a problem of origin of money (apart from the nothing-at-stake problem, but some claim to have solved it eg:slasher algo)

[legendster]

I've been trying to boost inevitable "national-decentalized-crypto-digital-currency" for more than 2 years to people busy believing/promulgating Bitcoin as panacea within this "bitcoin community." They were too ignorant or incapable of seeing 'bigger' picture that lies beyond Bitcoin adaption in future. I'd like to again invite you to assess your position. Hope, techies have learned enough economy by now to determined potential impact of Bitcoin when adapted by masses.

First try to tone down the arrogance and rudeness in your statement. Secondly, a centralized 'altcoin' is not aligned to the viewpoint of a decentralized currency. Centralizing an altcoin would solve a lot of internal problems that Bitcoin has but it would bring this 'new currency' back under the control of the governments. If China is doing it, then they're doing it out of the pretext of their success of controlling their current fiat. Doesn't mean they'll succeed with a Altcoin as well.

[btc_enigma]

It isn't that stupid . They are controlling most of the mining anyway. If they issue a digital currency most miners may jump to the new boat.

[rslsrkr]

It isn't that stupid . They are controlling most of the mining anyway. If they issue a digital currency most miners may jump to the new boat.

I second on that.Yuan is tumbling so is the world economy.But Bitcoin is still strong holding $400 level for some period now.30 day volume in the top chinese exchange is 5 billion yuan and almost 80% bitcoin transaction is in yuan so there's huge market to capture.

[btcdevil]

It isn't that stupid . They are controlling most of the mining anyway. If they issue a digital currency most miners may jump to the new boat.

I second on that.Yuan is tumbling so is the world economy.But Bitcoin is still strong holding $400 level for some period now.30 day volume in the top chinese exchange is 5 billion yuan and almost 80% bitcoin transaction is in yuan so there's huge market to capture.

Dont believe on the reports of volume of trading in chinese exchanges they are all bogus with just creating a hype to promote their exchanges. chinese exchange are doing just internal trading and nothing else. and no one can compete with any altcoin with bitcoins. Because Bitcoins is the main source of conversion of all the altcoins and all altcoins value are compared with Bitcoins.