If china got their own coin?

[MoonJeina]

Would they need BTC?  With 1.3 billion potential users wouldn't that be enough?

Having their own crypto coin for improving their economy is a pretty smart move . But the support will only be shown by natives .
Obviously China's population will somehow strengthen their local coin ( even though a lot of population includes elderly ) . But the support that is with bitcoin cannot be shaken by any other local coin . The main proof is the rise of bitcoin even after the China ban . But if every country starts making their own crypto coins then that might be a reason of big concern for sure.

[thirdprize]

Would they need BTC?  With 1.3 billion potential users wouldn't that be enough?

There is vast difference between coin created by government and bitcoin, all government issued coin (if they will issue one in future) will be centralized and will be in full control of the government which is just like virtual bank balance we have right now so pretty much useless.

Bitcoin is decentralized, anonymous, limited and self sustaining that's why it is most valuable coin out there.

I didn't mean the Chinese government, I meant the Chinese miners.  It would still be decentralised, just largely around China.  Has there been any attempts?

[gentlemand]

I didn't mean the Chinese government, I meant the Chinese miners.  It would still be decentralised, just largely around China.  Has there been any attempts?

There are quite a few alts that I've never heard of that were huge in China. But I don't think there'll ever be such a thing as a crypto that sticks entirely to only one country. If there's action then everyone will want in no matter where they are.

And there are now no reliable Chinese markets so something China focused wouldn't get too far.

[rodel caling]

Would they need BTC?  With 1.3 billion potential users wouldn't that be enough?

because need to accept of all people the bitcoin as new digital cryptocurrency the goals of bitcoin to become famous in worldwide to chnge the fiat money being decentralized currency, the other people especially the banks owner hate bitcoin because threat to banks if bitcoin accept of intire world. and for china if want to create own coins have disscusion for that every nation or states have right to create own currency.

[taiwww]

Many countries are currently running their own digital currency. Ecuador, Tunisia have introduced digital money in 2015.
Senegal, Sweden, Estonia are also planning to have their own blockchain secured currency.
The People’s Bank of China said it was exploring the possibility of the national digital currency, and that it would be introduced soon.
Other countries want to use the digital currency alongside their existing currencies, but china may replace their paper tender in the country like India did in 2016.
If china introduces its own cryptocurrency then it would gain popularity in their country only.
Because one thing is sure that it will be centralised in nature not like bitcoin.

[Biggapp]

So what? They wouldn't be the first country that is trying to introduce the coins sponsored by government but that doesn't mean that people will use it and that it will be successful. Just the opposite, people are usualy avoiding government sponsored cryptocurrencies. So even if that happened chinese people would still use Bitcoins, you don't have to fear.

You are right the bitcoin is now increasing because the bitcoin has a lot of the investors and today no country can overcome the bitcoins place because the demand of the bitcoin is very high and people who are using the bitcoin are making the use of the bitcoin as the world currency so I have heard about the ban of the bitcoin in the china so I hope the bitcoin will not lose the value if the person will use the other coin.

[roshanface123]

Let them introduce their own crypto currency ,if it may supported by government or not , l'm sure that they can't beat bitcoin because the current studies says that bitcoin is the best crypto currency in the crypto market.So I am sure that bitcoin  will never give up before the China's introduced crypto currency.

[Anonylz]

They dont want to createa new coin, they want to be the owners of bitcoin, and of the entire market. They are so greedy and this is why they have created all this mess of bitcoin cash, the halving, the forks, bitcoin gold - segwitx2 and a lot of other things that made it possible to dump the whole market for more than 30% in just a day, so they could replace bitcoin. But they were not able to do it, because we are so strong and bitcoin cash was not going to win this battle.
They dont want to have their own crypto, they just want the king, bitcoin.

[bubblebit]

With 1.3 billion potential users wouldn't that be enough?

That is a big possibility that a government like China will introduce a bitcoin of they’re own and be supported by the people on that country that is a given reality. Is it good to bitcoin? Yes, then it will be the end of China interfering on bitcoin investments. That is better and I don’t see any bad consequences to it on bitcoin price.

Would they need BTC?  

Most likely, 10 % will still or assuming will invest or transact with bitcoin. They can’t control 1.3 billion people(if this is correct) that has different mindset and with the technology usage that can either hide one’s personal identity, the position of the government will always be on those who follow them and punish those weren’t.

[jtipt]

Would they need BTC?  With 1.3 billion potential users wouldn't that be enough?

Which coin do you think the people and miners are going to choose to use? The one that will be controlled by the government or the decentralized one that has became the most popular Cryptocurrency. Obviously they will still continue to use BTC, even if it's banned, people are still going to find a way to use it.

[yugyug]

People outside from China don't care if they produced their own cryptocurrency, it is used internally and a state controlled cryptocurrency and most people will not allow to control their cryptocurrency by the government. Even if China has an approximate 2 Billion potential users, if their coins are not tradeable then it is considered as shit coins.

[alexsando]

This is entirely possible because China is a country that has always had its own meaning. There are already a lot of china coin present in the crypto market. The coin is well developed.

[tientien333]

if the middle of country has a special centre
bitcoin quantity are being used at the world of multicast
if they have a same currency, it is a great for both and them

[saedasda]

There will be a chance to legalize digital currency if they will have own token because they will support their own coin and it can regulate by the government

[johnson4218]

China has its own coin. The first is the anchor. Pretty proud of NEO and NEO as ETH. But due to the law prohibiting ico from China so investors do not like NEO. China may soon come out with a penny for China to manage

[lvincent]

If china created their own coin i think some citizen of china still gonna use bitcoin, being decentralized of bitcoin is why so many people have it if china created their own coin it will never be the same, bitcoin's decentralization i think is the reason why china banned bitcoin  because they can't control it so they just prevent it to make their own coin i think it will not be accessible as bitcoin.

[wall101]

they may not necessarily have such a huge amount of money and they should not use bitcoin for that would be because they are rich in china because china is the richest and most populated country in the world where they have not bitcoin needed abroad and banned bitcoin in china but if china comes with their own coin they will never break the bitcoin because I have all bitcoin users together.

[Hanablue]

Chineese people are dying for bitcoin I can tell you that. 

[pooya87]

whenever a country talks about getting their own cryptocurrency, it is exactly the same as them printing more money (physical cash). it is a centralized and fully controlled and limited to one country currency.'
now you are comparing this to bitcoin which is a decentralized and global an not controlled currency with a limited supply. i am sure a country-coin will be limitless like their fiat and they will be issuing new tokens whenever they want just like how they print money whenever they want.

[Phantomberry]

In every country there's a lot of coin in china there so many and they a big investor and a good project coin.