USA vs China in Crypto

[Bnance10 720]

Libra was not a DOA—dead on arrival.  In fact, it hasn’t even arrived yet.  And it is far from being dead.

I want to offer some reading between the lines here:

The USA gov tends to speak against crypto because BTC is perceived as a threat to the USD long established monopoly.  So, speaking against Libra is just a convenience.  Using any flaw or weakness that FB has as a giant social media is just a good tactic to speak against crypto currency, period.  If you want to use scare tactic, as banks proponents as many are, you only need to throw in a few scary things like Libra may help money launders, terrorists, etc.  But even among US Lawmakers, especially the folks in charge of the appropriate Committee, the intention to help the poor unbanked population actually sounds good, and they said they would continue to investigate Libra.  And that was not a treat.  That is actually more than a promise.  

And then we all saw the Chinese government all gunhos about blockchain new projects after this Libra scrutiny in US Congress.  

If you know the always-fierce competitions between these two Super Powers in all areas of powers, then you should know at least, something is cooking behind the scene about crypto, government crypto, that is on the USA part.  Only on the surface, understandably they would have to publicly speak against Bitcoin and now Libra...

[setifien 1016]

5 hours ago, daihong4958 said:

It seems that Bill Gates does not support crypto. At Reddit AMA on Tuesday, the Microsoft co-founder expressed his disagreement with the anonymity of cryptos. Bill Gates said that when the government can identify money launderers and tax evaders, those who support social terrorism will be more stable.

From a point of view of government, he is right because cryptocurrencies give the easy opportunity to those people exploiting these currencies for illegal issues 

[Congli18 154]

maybe this is very interesting for people who are fans of the crypto world, the US and China have very good strategies in the Crypto world that we cannot know, so we are waiting for who will win the US vs. China

[kjames 139]

united states are very positive about crypto compare to china. because china dont have any crypto atms. but us has more than thousand.

[dentolas 551]

18 hours ago, Bnance10 said:

Libra was not a DOA—dead on arrival.  In fact, it hasn’t even arrived yet.  And it is far from being dead.

I want to offer some reading between the lines here:

The USA gov tends to speak against crypto because BTC is perceived as a threat to the USD long established monopoly.  So, speaking against Libra is just a convenience.  Using any flaw or weakness that FB has as a giant social media is just a good tactic to speak against crypto currency, period.  If you want to use scare tactic, as banks proponents as many are, you only need to throw in a few scary things like Libra may help money launders, terrorists, etc.  But even among US Lawmakers, especially the folks in charge of the appropriate Committee, the intention to help the poor unbanked population actually sounds good, and they said they would continue to investigate Libra.  And that was not a treat.  That is actually more than a promise.  

And then we all saw the Chinese government all gunhos about blockchain new projects after this Libra scrutiny in US Congress.  

If you know the always-fierce competitions between these two Super Powers in all areas of powers, then you should know at least, something is cooking behind the scene about crypto, government crypto, that is on the USA part.  Only on the surface, understandably they would have to publicly speak against Bitcoin and now Libra...

I agree with you, there is undoubtedly a war going on for the first national crypto... FB is lining in with the US government (like they already did for the elections) and all these issues with Libra must be fireworks... maybe also gaining time for something... (it didn't help Libra the fact that the EU banned it before arrival)

China seems way more ready and structured... in the US I think there are too many powerfull people still hanging on the the USD past glory...

Remember that everything started when Russia and China stopped using USD for oil related transactions

 

[cryptosix 1643]

So far all the above people posted facts about USD and I agree with them as US wants to rule the world and have to listen them, but this wil never happen. China already made a clear announcement for crypto legalization so there will be n problem for them. US will not allow Crypto as per the above posts.

I think one day USD will go to the bottom structure in the world. US is the biggest stranger, but this won't solve in the future for them.

I have heard China will integrate Bitcoin as payment processor in the Alie Express or alibaba, but in US nothing will happen.

[Ajlovez7 594]

China has openly supported now for blockchain technology and it automatically means cryptocurreny as they are launching there own crypto currency. On the other hand USA will always try to criticize bitcoin because it's direct competition to its USD $$ . If bitcoin gets accepted worldwide then eventually USD $ will loose it's importance in the world & USA won't let this happen.

[Bnance10 720]

On 11/7/2019 at 3:04 AM, Crazyjesus said:

 

Good thread, my friend.

Following the development of these two superpowers around cryptocurrencies is very important for many purposes.

I emphasize in this post something you also says: the two countries are following strategies (sometimes public, sometimes hidden) very different.

While the US is still trying to pass regulations that allow them to control bitcoin and protect the dollar; China has decided to launch to exploit blockchain technology (not directly bitcoin).

My first impression is that China has the winning cards in its hands because the blockchain (not BTC) is the core of the cryptoworld.

Thank you all for your interest.  In this context, Bitcoin and crypto currencies have only barely begun.  With super powers of the world are now getting involved.

[Rg123 318]

On 11/7/2019 at 12:46 AM, Black25 said:

I don't know what to say about this by USA always seems to stay behind the latest technology. Take for example 5G technology which China was already developed and implemented in their country. It might be the same with bitcoin 

I agree with this, we are in the age of technology now, just follow or go with the flow in developing of technology, like bitcoin, we can adopt this its becuase this is our future and we can use it for our daily life soon.

On 11/7/2019 at 5:42 PM, Jakezyrus said:

I think they share the same tactics and ideas in refusing bitcoin but coming into the world of cryptocurrency which is, they will make their own coin to be introduced to their platforms as a method of payment and transaction. 

Yes, we all know that the china are legalizing cryptocurrency in their country but there some places that didn't accept bitcoin as a payments its because they will launched their own coin for them to used in payments like fiat money.

[Jason williams 22]

I thin USA is positive about cryptocurrency whereas China is not that much positive. Many merchants also accepts cryptocurrencies in USA. 

[Great Commander 659]

These two tech companies are competing to achieve maximum aim to control blockchain and cryptos. USA is more of regulating it and prompt to hold the transactions on the decentralized system while China has been more on improving it and or destroy it maybe in the future. 

[raj 19]

The US is definitely lagging behind the rest of the world in terms of crypto policy. It may well be that China will emerge as the next dominant superpower due to their acceptance of cryptocurrency.

[Sumayya 493]

Libra for the USA and china too want to created their own token which will be like a competition since libra is not yet accepted and criticize

[bentayebsalah 2280]

I am with China and I see cryptocurrencies useful and have a very wonderful future
I do not know why America is trying to stand against it instead of taking advantage of it

[Thekingcallme 1975]

I think China will be the strongest in this field, especially since it has a lot of platforms and currencies already encrypted
And while America does not have its own currencies

[doriahailee 643]

Indeed, the US looks more negatively looking at crypto even though it does not prohibit it and indeed as you say because it disturbs the monopoly using the USD, China is more or less the same but they also develop their own blockchain. Both may still see how development and stability.

[dana33 302]

Well if america and china or one of them accept Libra, i think that is enough to make Libra become a big. If USA government approve and accept libra then it will be a different story.

[Luciferludz 1442]

I hate China and America in crypto because they are so private to use others states coins, but they like the world to use their coins only.

[bliznec 22268]

There is a difference between China and the US, and both powers began to argue about the cryptocurrency Bitcoin. China will win the race because China has the means to confront the United States. It is good that both countries started talking about cryptocurrency. 

[nahidfresh99 465]

I think in the future, the Chinese government will allow the crypto  currency to be used, and they may or may not market themselves and allow them to trade, and I think the American government should legislate.China and other developing countries, including Japan and the United States, will make  laws that other countries rely on, for  cypto currency

[Andrew 17]

Because what the government says is right. Because cryptocurrencies give people an easy opportunity to use these currencies for illegal problems.

[MohammadMohsin 569]

On 11/6/2019 at 10:46 PM, Black25 said:

I don't know what to say about this by USA always seems to stay behind the latest technology. Take for example 5G technology which China was already developed and implemented in their country. It might be the same with bitcoin 

I completely agree with you in the topic mate. Cause I also think that USA is always behind this kinds of online technologies. But China is always ahead other and also the 5g network is also really great invented by China! 

[nasipadang 399]

I had thought about this relationship. The launch announcement and criticism from the US government on Libra occurred, after a few days China said the adoption of blockchain technology. This is very clear in my opinion there is competition here between the US and China.

[Soaib khan 1035]

both is good countries for crypto currency but usa more developed country in digital currency but also china is good country for crypto

[DrHaman 375]

I needed seriously considered this kind of connection. The particular start headline and also complaint coming from the government about Libra took place, right after several days China mentioned the particular usage regarding blockchain engineering. This is very apparent I think there is certainly opposition to the following involving the US ALL and also China.