tvbcof
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November 02, 2013, 05:07:25 PM |
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Why dont Chinese people create their own cryptocurrency instead of buying into bitcoin at this high prices?
Brilliant idea. Every country could make their own digital currency  I believe that it makes sense that people who unite for a particular purpose might wish to create and maintain a unique crypto-currency. In this manner, the value of the existence of the mechanism of exchange could accrue to the union (using the term generically.) These unions do not necessarily need to be rooted in geographic space in the same way that nations are currently. If such a scenario developed, there would still be need for a 'neutral' currency to balance between them. Bitcoin could fall into this role if it does not pick up baggage that renders it to sub-optimal. |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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AndrewWilliams
Full Member
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Activity: 182
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Fourth richest fictional character
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November 02, 2013, 05:55:09 PM |
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Why dont Chinese people create their own cryptocurrency instead of buying into bitcoin at this high prices?
Brilliant idea. Every country could make their own digital currency Why? That's the last thing Bitcoin needs, it would severely hamper it growth.... The whole point of a digital currency, is to be able to be international. No need for individual countries to have their own. That would leave the door way to open for currency manipulation... could you imagine each country running ASICs trying to mine all their own coin? Or buying up all the coins to have a monopoly? Lets leave Bitcoin as the .com of internet currencies alone, and leave the .cn and .eu of the cryptocurrency world alone. Not a good idea.  |
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EccLipSe
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Activity: 168
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November 02, 2013, 05:56:26 PM |
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There is no goverment support bitcoin or brothers. Goverments wants to make money with their bank system. So they are independent. There is too much dollar on roaming all over the world. I believe that even US does not know how much they created.  |
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gollum
Sr. Member
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Activity: 434
Merit: 250
In Hashrate We Trust!
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November 03, 2013, 04:48:30 PM |
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Why dont Chinese people create their own cryptocurrency instead of buying into bitcoin at this high prices?
Brilliant idea. Every country could make their own digital currency The blockchain will become 10,000 times bigger than today if 1 billion people start to use bitcoin for real, the bitcoin client would freeze since it would never be able to process the blockchain before new data comes in. We need one sub-coin per country since bitcoin is not scalable with the current architecture. Sub-coins can then be traded against a root-coin for international transactions. |
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ar9
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November 04, 2013, 04:47:33 AM |
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I think it's a great sign that China has began to adopt Bitcoin.
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qwerty555 (OP)
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November 04, 2013, 01:51:04 PM
Last edit: November 04, 2013, 02:03:26 PM by qwerty555 |
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Today Nov 4 so far its 88,000 China v 46, 000 the BIG 3. (figures change by the second) It has settled down from the "aberration" of 3 days ago where chbtc had a 508k daily volume and today's ratio of approx 60% China ....40% Big3 will likely be the norm in the medium term barring any major event. The great news is that prices are already back knocking on the door of $230 which when well and truly broken with support will set us up to test the $260 high...very soon I expect. My price target as previously posted elsewhere is $400 by Oct 2014 and I may be lucky to get there a few months before....... The futures market (settlement on Saturdays) at 796Market has "traded" 18,000 coins ( approx $4M dollars) at a price range of $236 to 238.5 ............currently $237.6 they are BETTING that we will be above that by Saturday https://796.com/ |
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qwerty555 (OP)
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November 06, 2013, 06:02:03 AM |
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Today Nov 4 so far its 88,000 China v 46, 000 the BIG 3. (figures change by the second) It has settled down from the "aberration" of 3 days ago where chbtc had a 508k daily volume and today's ratio of approx 60% China ....40% Big3 will likely be the norm in the medium term barring any major event. The great news is that prices are already back knocking on the door of $230 which when well and truly broken with support will set us up to test the $260 high...very soon I expect. My price target as previously posted elsewhere is $400 by Oct 2014 and I may be lucky to get there a few months before....... The futures market (settlement on Saturdays) at 796Market has "traded" 18,000 coins ( approx $4M dollars) at a price range of $236 to 238.5 ............currently $237.6 they are BETTING that we will be above that by Saturday https://796.com/Pat myself on the back 2 days from post we have broken $260 and have a new ATH futures still indicating strength, currently at ask high $269.89 low 266 range and Bid high 260 low 252.11 37,000 volume.. equates to approx $9.8 million "bet" on increased price. time for a pullback or consolidation? maybe |
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rampalija
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November 14, 2013, 11:40:36 PM |
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v Why dont Chinese people create their own cryptocurrency instead of buying into bitcoin at this high prices?
Brilliant idea. Every country could make their own digital currency Arent Chineese invented BTC |
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roflmao129
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November 14, 2013, 11:44:30 PM |
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the odds are pretty good at guessing that chinese invented something
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MaxBTC1
Newbie
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Activity: 56
Merit: 0
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November 14, 2013, 11:45:55 PM |
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China really are the ones controlling prices. One bit of news either way and this could ride or die.
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LiteCoinGuy
Legendary
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Activity: 1148
Merit: 1010
In Satoshi I Trust
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November 15, 2013, 12:02:49 AM |
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Why dont Chinese people create their own cryptocurrency instead of buying into bitcoin at this high prices?
Brilliant idea. Every country could make their own digital currency Why? That's the last thing Bitcoin needs, it would severely hamper it growth.... The whole point of a digital currency, is to be able to be international. No need for individual countries to have their own. That would leave the door way to open for currency manipulation... could you imagine each country running ASICs trying to mine all their own coin? Or buying up all the coins to have a monopoly? Lets leave Bitcoin as the .com of internet currencies alone, and leave the .cn and .eu of the cryptocurrency world alone. Not a good idea. that were my thoughts too |
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jago25_98
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November 15, 2013, 03:44:29 AM |
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Why dont Chinese people create their own cryptocurrency instead of buying into bitcoin at this high prices?
A few have got shutdown. |
Bitcoiner since the early days. Crypto YouTube Channel: Trading Nomads | Analyst | News Reporter | Bitcoin Hodler | Support Freedom of Speech!
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Ruzka
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November 15, 2013, 04:01:11 AM |
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China is going crazy over BTC  |
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beetcoin
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November 15, 2013, 06:01:41 AM |
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The name satoshi is chimesse namr that is the only reasoon chinese ppl knew first for BTC
why didn't anyone catch this? either he's trolling or he's been chilling with sarah palin. i've seen a few crazies on this board, so i'm not certain enough that he's a troll. |
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