China to launch Wechat coin

[stompix]

China's direction in this is clear.

Early in 2018 they will launch a blockchain based coin linked with wechat and allied with Alibaba. Because it will be instantly useable to more than a billion people for all daily shopping actitivites it will quickly spread beyond China and become the dominant coin.

Also, all the miners located in China will switch to the wechat coin, leaving the other coins with huge problems.

China directions is not clear at all

First , misleading stupid title
There is no China launchign a coin.
It's like saying the US is building a Tesla car or Germany is launching a new yogurt.
A company in China is launching a coin, a huge difference but for ones that actually bother to read and comprehend not just spam the board.

Second , it's old news. Very old news.

https://www.bloomberg.com/news/articles/2017-09-15/china-s-wechat-crackdown-drives-bitcoin-devotees-to-telegram

Oh, and miners?
It will (wasn't meant to be) minable.

[HasHe]

So,that's the motive of china for which it took such severe actions against bitcoin.Also linking their coin to buy anything from alibaba is a masterplan to make their coin famous and more usable among the people.So,the chinese if not as an investment,atleast buy that coin for buying products from alibaba.

[BillyBobZorton]

Also, all the miners located in China will switch to the wechat coin, leaving the other coins with huge problems.

For this to happen, they (Wechat Coin) would need to use SHA256 PoW... which I doubt they will.

Where did you get this information from then? you didn't have further details. I would like to know how Wechat Coin is supposed to compete against Bitcoin which is a global currency/store of value. Their market would be limited to China. Why would you limit your potential to one country when you can have global reach? it's a waste of resources, they can't win.

[AjithBtc]

So,that's the motive of china for which it took such severe actions against bitcoin.Also linking their coin to buy anything from alibaba is a masterplan to make their coin famous and more usable among the people.So,the chinese if not as an investment,atleast buy that coin for buying products from alibaba.

They might have got plans to integrate few ventures and create their own coin and make use of it. One such initiation is the wechat coin, because when people were insisted to pay only with that particular coin for all wechat requirements surely users will do it and the same will help in the circulation leading to growth and regular usage without much promotion.

[scottykarate]

There's also been a new coin launch planned called FUDSHILL that is being launched by Freightjoe.

It's value will be worthless just like his posts.

Scotty boy, I am sorry you are not capable of solid analysis and research, but are only able to shout and stomp your feet. Perhaps you should go and finish your homework before it is bedtime.

Not stomping my feet... just pointing out what an idiot you are. I'd wager that I'm either older than you or close to the same age, so nice try.
I am quite comfortable in life and will leave it at that. Bitcoin is a small part of my portfolio which is in addition to company pension

How liquid are you??

You're the one of questionable intelligence. You spam, spam, spam and get your ass handed to you every time.

[Moesee]

Would be a good investment pity only for the Chinese.

[shursight]

It is very unpredictable, and i dont think that anyone who has posted in this thread knows what will exactly happen with this coin.
If i am not wrong, a lot of people were saying that "NEO was going to be the ONLY mineable coin in China, and that all the ICO's were going to start being developed with neo technology"
What the hell is happening now? Seems that all those things are happening with this token, i dont know why you all are trying to spread fake news only to pump/dump coins, because we all know that all those speculations about NEO were fake.
Wechat? what the fuck? it is obviously that the government really want to control everything.

[tss_ben]

I wouldnt be surprised if the Chinese government gonna really do this. But I cant seem to find any news on this... mind sharing any?

[osasshem]

China's direction in this is clear.

Early in 2018 they will launch a blockchain based coin linked with wechat and allied with Alibaba. Because it will be instantly useable to more than a billion people for all daily shopping actitivites it will quickly spread beyond China and become the dominant coin.

Also, all the miners located in China will switch to the wechat coin, leaving the other coins with huge problems.

For this to take place/hold,there will have to be an ICO they will hold, for it to be seen by the general public. The Chinese government and economy is of big effect on bitcoin and they doing this is of no surprise to me. Most of the miners of bitcoin and alts are based in China.

[dumplingsandsushi]

Shouldn't this post be in the altcoin forum?

There hasn't been that much evidence put out that this is the case.
But, China issuing their own coin would make sense considering their recent actions to control icos and exchanges.
A lot of regulations were made to ensure that chinese businesses prosper in china with wechat being one of them.

Ban facebook and twitter, which gives qq and wechat dominance in the chinese market.
Ban google, enter baidu.
Ban youtube, enter youku.
Of course, a lot of the head politicians in the communist party are heavily invested in these chinese companies.

With something as big as crypto, I guessed that the similar things would occur, government controlling crypto to pave the way for a chinese company and coin to dominate the market.

Whether this is through wechat or not is yet to be seen.

[freightjoe]

Not stomping my feet... just pointing out what an idiot you are. I'd wager that I'm either older than you or close to the same age, so nice try.
I am quite comfortable in life and will leave it at that.

Scotty boy, more stomping of feet. How very mature of you.

If you are so comfortable, then why the need to constantly stomp your feet? Clearly you display the typical insecurity about your choices that is often seen in adolescents which often manifests itself in the need to constantly reassure an audience that you are happy with your choices.

[ajmapalo22]

This probably the reason why China decided to banned bitcoin transaction in their country like what they always do they created their own crypto coin/token that will be use over their economy, somehow this is good because if a certain country can run their economy using digital currencies possibilities that bitcoin can become a legal currency of the world can also happen anytime soon. 

[steadyrice]

Any source on this so far? The way I see it this is just speculation at the moment.

[DARKANGEL6415]

It is very unpredictable, and i dont think that anyone who has posted in this thread knows what will exactly happen with this coin.
If i am not wrong, a lot of people were saying that "NEO was going to be the ONLY mineable coin in China, and that all the ICO's were going to start being developed with neo technology"
What the hell is happening now? Seems that all those things are happening with this token, i dont know why you all are trying to spread fake news only to pump/dump coins, because we all know that all those speculations about NEO were fake.
Wechat? what the fuck? it is obviously that the government really want to control everything.

Now i personally have never heard of this wechat coin or ico so i will agree with you. It does seem that many countries are trying to develop their own crypto currencies.  Why don't they just create for example digital dollars or whatever. In the case of China of course they want to control everything. Only thing between China and other governments is they don't hide it.

[cunese]

As a Chinese do not see where to promote wechat coin, but this idea is still very good, and now our domestic ico are going overseas. At the moment I think of a few such as linkeye and simons chains.

[googs84]

China`s national bank, People`s Bank of China has already started its working towards developing its own cryptocurrency. Before ban on cryptocurrency, bitcoin was very popular in china, in fact china was the biggest trader and miner of bitcoins. Of being a communist country Chine`s government must have plans in introduction of a cryptocurrency. Blockchain transactions are easily traceable, allowing for an easier time finding and eliminating corruption. National cryptocurrency would help to strengthen the dominant Communist Party of China.

[NightWatchHKG]

The only reason WeChat hasn't been blocked is because the government makes users sign up with their real name.  Any currency created that is linked to it, will have no anonymity.

[paolo099]

wechat is the most horrible chat app for mobiles, full of emoticons for 14 years old so, if their coin follow the same guidelines this will be the king of crapcoins.
China now wants to have monopoly also on crypto like they did with the great firewall and all of the restriction poor chineses have..
What's the point of develop their own coin? the main goal is to have a control over it, simple as that, they tried to pee in BTC by banning, considering it crap and so on and now? they're doing the same; i would consider it as the same level as xxxcoin for now, in the future we will see but for me that's another BS.

[scottykarate]

Not stomping my feet... just pointing out what an idiot you are. I'd wager that I'm either older than you or close to the same age, so nice try.
I am quite comfortable in life and will leave it at that.

Scotty boy, more stomping of feet. How very mature of you.

If you are so comfortable, then why the need to constantly stomp your feet? Clearly you display the typical insecurity about your choices that is often seen in adolescents which often manifests itself in the need to constantly reassure an audience that you are happy with your choices.

You have the lack of maturation...lol. I'm showing that I am not unlike the others you claim to be helping...I'm just fine. Keep deflecting, though. The only adolescent behavior I see is you crying from the rooftops at every turn and personal attacks on other posters. Bravo! Thanks for reinforcing my points in public. Tired of the same old boring rebuttal, yet. That seems to be your one trick pony show.

[roddy5]

China's direction in this is clear.

Early in 2018 they will launch a blockchain based coin linked with wechat and allied with Alibaba. Because it will be instantly useable to more than a billion people for all daily shopping actitivites it will quickly spread beyond China and become the dominant coin.

Also, all the miners located in China will switch to the wechat coin, leaving the other coins with huge problems.

Maybe this is the reason why Chinese government is trying to ban Bitcoin in their territory. Well we know how Chinese do it. See what happened in facebook, they banned the use of it within their country and created their own social media site.