The Fiat Digital currency is coming to Chinese people.

[nicemycoin]

The Fiat Digital Currency is in developing in China by Central Bank.

http://www.bitbh.com/new/detail/4551  Steadily push forward The legal Digital Currency

http://www.bitbh.com/new/detail/4555  Anti-corruption  With Blockchain Tech

The Bitcoin price has been pumped up to 5400CNY  after these news realeased.  

If it receives a legal tender status, many people in China will dump BTC for it.

As far as it being Centralized,
every rational person knows that BTC has already been Centralized to Chinese mining pools for over a year.

I don't think so,and most of the Chinese communities have the same idea with me.
For the Fiat digital currency will help Bitcoin promoting better and faster.As we all know,Bitcoin is not illegal in China.

About"promoting better and faster"
I mean, Bitcoin is not well known by most of the people by now,but if the fiat digital coins launched by more and more central banks,the digital currency will be more easier to be known by the people all over the world.

As we all know,Here the digital fiat currence is compared with paper fiat currency,paper currency have a mass of disadvantages— high cost,corruption,crimes...

[amacar2]

Translated to read what was written and it looks like they are trying to make centralized digital currency using blockchain tech just like bitcoin but with complete control of government. I don't think this will have any effect on price and don't know how you are relating this news to current price pump.

[Daffadile]

Sounds like a terrible idea. Why the hell ?? Just why ? This is really stupid and I hope it fails.
It will fail because that is one of the most terrible ideas I have heard lately. Centralizing something that is made to be decentralized and outside the powers of government to liberate the people. Obvious communist china shithole will want control like it does with everything.

[SyGambler]

couldn't fully understand the articles , but in general I'm not sure if such move can help bitcoin or not
I have also read the Sweden is going to create a new system of payments called Ekrona , but in the article that I read there is no mentioning of blockchain or cryptocurrency so maybe Sweden is thinking different
anyways let's hope for the good 

[Kprawn]

Translated to read what was written and it looks like they are trying to make centralized digital currency using blockchain tech just like bitcoin but with complete control of government. I don't think this will have any effect on price and don't know how you are relating this news to current price pump.

It will have a massive influence in the price, if this does happen. Just a week or two ago, we saw bitcoin being dumped, when rumours were

spread that China will be banning Bitcoin. If they develop this Blockchain technology and still allow for Bitcoin to be used, the price will still

decrease, because Bitcoin will lose market share. 

[requester]

I knew that after the rise of bitcoin many government will come to adopt digital money system instead of paper currency. Just wait and see another 10 years there Erik be atleast 50 countries with digital money system and may be after 50 years paper currency will get vanished

[franky1]

yet another post with people advertising the bankers crapcoin on the hyperledger.

again nothing to do with bitcoin

[kiklo]

If it receives a legal tender status, many people in China will dump BTC for it.

As far as it being Centralized,
every rational person knows that BTC has already been Centralized to Chinese mining pools for over a year.


 


 

[calkob]

I reckon the Chinese government will try and push their own digital currency that will be heavily controlled, i hope the Chinese people will see through that and continue to use bitcoin

[jak3]

chinese people are getting lot and lot advance by time but can this decision trun ijto a harmful one if they are unable to control their newly made cryptocurrency and if they did succeded into controlling it then what is the diffrence between banks and their cryptocurrency?

[donalddlanod]

it will make all crypto currency adoption easier and ad  legitimacy. Even though the govs will try to demonize bitcoin.  This is a good thing either way you look at it. Not saying it wont be without bumps but overall it is a plus.

[nicemycoin]

If it receives a legal tender status, many people in China will dump BTC for it.

As far as it being Centralized,
every rational person knows that BTC has already been Centralized to Chinese mining pools for over a year.

I don't think so,and most of the Chinese communities have the same idea with me.
For the Fiat digital currency will help Bitcoin promoting better and faster.As we all know,Bitcoin is not illegal in China.

[nicemycoin]

Translated to read what was written and it looks like they are trying to make centralized digital currency using blockchain tech just like bitcoin but with complete control of government. I don't think this will have any effect on price and don't know how you are relating this news to current price pump.

It will have a massive influence in the price, if this does happen. Just a week or two ago, we saw bitcoin being dumped, when rumours were

spread that China will be banning Bitcoin. If they develop this Blockchain technology and still allow for Bitcoin to be used, the price will still

decrease, because Bitcoin will lose market share. 

I don't quite agree with you,The bitcoin influence is so weak currently,Bitcoin will be benefited by more and more digital currency emergence,no matter it's a Fiat digital currency or altcoin.

[pooya87]

this is not a new thing, for as far as i remember a long time ago there was talk about some countries (i remember specifically China) wanting to make their owncryptocurrency aka altcoin. and although that would just be an altcoin and would have no relation to bitcoin but it is a big step for bitcoin since it makes it look a lot better, more legit and more people will start investing and using bitcoin.

and i believe that is one of the reasons why bitcoin price has jumped!

[davis196]

The Fiat Digital Currency is in developing in China by Central Bank.

http://www.bitbh.com/new/detail/4551  Steadily push forward The legal Digital Currency

http://www.bitbh.com/new/detail/4555  Anti-corruption  With Blockchain Tech

The Bitcoin price has been pumped up to 5400CNY  after these news realeased.   

If it receives a legal tender status, many people in China will dump BTC for it.

As far as it being Centralized,
every rational person knows that BTC has already been Centralized to Chinese mining pools for over a year.

I don't think so,and most of the Chinese communities have the same idea with me.
For the Fiat digital currency will help Bitcoin promoting better and faster.As we all know,Bitcoin is not illegal in China.

There were the same news about Sweden and now China.

Maybe the central bankers are going to hit bitcoin with fiatcoins very soon.

And how the fiat currency will help bitcoin "promoting better and faster"?

[shinratensei_]

If it receives a legal tender status, many people in China will dump BTC for it.

As far as it being Centralized,
every rational person knows that BTC has already been Centralized to Chinese mining pools for over a year.

I don't think so,and most of the Chinese communities have the same idea with me.
For the Fiat digital currency will help Bitcoin promoting better and faster.As we all know,Bitcoin is not illegal in China.

If that was becoming the opposite things for Bitcoin, what will you do?
The Chinese were making something and had purposed.
But where you are looking at the potential of that was helping the promotion of bitcoin. i don't see anything right now. Just the general purpose for to be a different thing for bitcoin.

[iqlimasyadiqa]

chinese people are getting lot and lot advance by time but can this decision trun ijto a harmful one if they are unable to control their newly made cryptocurrency and if they did succeded into controlling it then what is the diffrence between banks and their cryptocurrency?

yes. I agree with you . it must be controlled precisely and carefully. when not controlled then bad things can happen easily. the presence of a new digital currency will certainly change the financial system in the country of china.

[bitbunnny]

They will have new digital currency. So what? I don't seew any problems with that. The thing is that Chinese are very engaged with digital currencies and have put all their efforts with it. Now they are also trying to involve the government. But I don't think this will influence Bitcoin.

[n0ne]

Nothing bad or good, just the Chinese citizens gets the access to use their country's fiat currency in digital form. It doesn't be compared with bitcoin, because that has got a central control which our bitcoin doesn't have. Everyone wish to be anonymous, but china using Blockchain technology and creating their own digital coin won't be a big issue for bitcoin as well altcoins growth.

[nicemycoin]

The Fiat Digital Currency is in developing in China by Central Bank.

http://www.bitbh.com/new/detail/4551  Steadily push forward The legal Digital Currency

http://www.bitbh.com/new/detail/4555  Anti-corruption  With Blockchain Tech

The Bitcoin price has been pumped up to 5400CNY  after these news realeased.   

If it receives a legal tender status, many people in China will dump BTC for it.

As far as it being Centralized,
every rational person knows that BTC has already been Centralized to Chinese mining pools for over a year.

I don't think so,and most of the Chinese communities have the same idea with me.
For the Fiat digital currency will help Bitcoin promoting better and faster.As we all know,Bitcoin is not illegal in China.

There were the same news about Sweden and now China.

Maybe the central bankers are going to hit bitcoin with fiatcoins very soon.

And how the fiat currency will help bitcoin "promoting better and faster"?

I mean, Bitcoin is not well known by most of the people by now,but if the fiat digital coins launched by more and more central banks,the digital currency will be more easier to be known by the people all over the world.