China to launch Wechat coin

[priyankg3]

if china launch this coin, i am damn sure it will be huge..

[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.

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.

Scotty boy, you do it again. No facts and no arguments. You merely take what I write and say "no, you too". Does not seem to be the behaviour of an adolescent, but more that of a toddler.

I am still waiting for a single shred of fact or evidence to refute my solid analysis from you.

[freightjoe]

WeChat is so popular in China that I'm certain it will be quickly adapted. Why China is interested in creating Blockchain based currency? It's quite interesting because Chinese government wants to have a full control of their residents' lives. Will Chinese Elite be the only one who can mine their new coin? Poor people won't benefit from this.

How quickly do you think it will be adopted?

[leonair]

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.

it will just be like a token that can only be used in China, it will not have any difference with Chinese Yuan since it will have the same value. Maybe it is their way of incorporating crypto currency top their fiat and I don't see any effect of it to the global market of crypto currency. If Chinese miners will convert to that currency then it will just open a new window for other country's miners.

[VeeraS]

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.

would this be a problem with bitcoin or other crypto ?

I dont think so, I dont even care what china will do. let them walk with what they want, but basically they will never succeed without the support of the community outside of china.

[subSTRATA]

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.

maybe, maybe not. i doubt every single one of those billions of people will be knowledgeable on how to actually use it completely at the time of launch. as for it becoming the dominant coin, china does hold a fair bit of geopolitical influence, but simply releasing a coin under its name itn't enough for it to suddenly take the cryptocurrency scene by force. crypto is huge on decentralization, and with a government like china's putting their backing on it, a lot of crypto enthusiasts are going to suspect a rather disappointing lack of decentralization.

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

only as long it remains the most profitable coin for the miners. and it would be limited to those who have the hardware to mine whatever algorithm the coin runs on (256, x11, scrypt, whatever). it might be a popular choice to mine for a little while, but i would honestly expect it to die out real quickly.

[K0korap]

This is one of the effects of the fast growing community of bitcoin. other country also realized ho efficient  it is to make values flow like how bitcoin makes it.

[riskarcher]

china wants to go one step further with it by implementing bitcoin on wechat feature. no wonder if China block coin from outside because the country is always want to develop its own products just like all chinese products

[Ifincom]

China always launches new coins but i do not think it is something new because it was already expected from china to launch something like this i have saw this before it happened but now it has happened i am not happy also not sad let them what they want to do.

[GerdLang]

I know that in China the Wechat  is very popular, a couple of months ago I downloaded this application for an iPhone. my conclusion: other messengers are popular in Europe a hundred times better and more convenient. I am convinced that Wechat is for the Chinese!

[audrey12]

As what many expects after China decided to banned bitcoin transactions in their economy. China wants to have control over cryptos which they cannot do in bitcoin so the solution is to create their own coin and make it as their official crypto currency. This country is really good when it comes to copying. I hope their coins can sustain the market because for sure it will never go over bitcoin popularity

[Oulay]

I dont think miners would leave out specially on bitcoin. There might be some possibility of such switch off but i cant think that they would rather focus on new coin than on the established one.

why do you think that will happen? It's very unlikely for the miners to mine a coin created by an government, that too the Chinese government which has been knows to impose restrictions on a lot of things. It's obviously going to be their own centralized 'Cryptocurrency', no one will probably give two shits about it.

If the Chinese government ban bitcoin, miners inside China will have to mine their coin or move out, if they find mining that coin more profitable they will switch to it..

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.

This is the true side of the story :3

[yanlap]

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.

Yeah it is the reason because the we chat is now giving a lot of the profit to the people, almost all the people are buying the bitcoin and the most used site of the outdoor areas users for me the bitcoin is the best source of the income and I am making a lot of the profit with the bitcoin so if it will be true the bitcoin will give me more profit. If the investment will be high the profit will also be very high.

[tauceramica]

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.

And you believed this?

None of them will leave coins such as bitcoin, litecoin and etereum. They don't work on mining just because of they like like the coins. They earn money that's why. They don't care who's behind what.

[cryptodrei]

If the source is legit well good for us,China has a lot of BTC volumes if the China lift the ban from their country alts will rise again.

[waynechong1995]

That would be another goldmine rush for their locals consider the huge adoption of these application among their society, we-chat has been always popular and they are very powerful as well in doing businesses or making transaction, Alibaba is another experienced company as well when dealing with innovation and stuff, Jack Ma had speaked about how he was impressed with block-chain technology, it's only matter of time for China to produce a hybrid block-chain that could prosper their people as well.

Aside miners leaving, it's not bad thing though reduce some of the difficulties while cryptocurrency is still strong despite China's influences now.

[obinine]

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

why do you think that will happen? It's very unlikely for the miners to mine a coin created by an government, that too the Chinese government which has been knows to impose restrictions on a lot of things. It's obviously going to be their own centralized 'Cryptocurrency', no one will probably give two shits about it.

China to launch wechat is a common crpto currency. And I think it will not be so successful because it is a government coin, on which you may pay tax in future. And this wechat coin will be limited to the china country only. While bitcoin is famous in world and we have no tax to pay on it. The bitcoin is a high value in market which cannot be achieved by the china wechat coin easily.

[ryanben]

This is unreasonable because the Chinese government has forced businesses to stop ICO activities. Also, for a project with no such potential,  investors will not turn to that project.

[KevenDabid]

Launch your own coin? China is not doing so fast, and they will be careful to test for bugs, so there is no need to worry about the impact on cryptocurrency markets.