USA vs China in Crypto

[mahmud93 231]

The idea of us and china is that if government approved crypto currency it may be fine other than reject that no any benefit would yield

[Fixfin 2569]

I am still waiting to see Libra, but I don't see what you claim to be a competition between China and the USA for crypto, if we can call Libra a cryptocurrency, but Bitcoin is different and probably these two countries want to find a way to control it perhaps with mining but they don't understand that only the miners do not control Bitcoin.

[raq533 29]

Well, China is clearly winning this battle, since they have already done a lot of work and released their national cryptocurrency. While the usa tries to plug all the holes with sec

[EnrickJoe 41]

In the USA, cryptocurrencies are accepted and crypto ATMs are also available. They are interested in using digital currency easily but the Chinese government considers it a crime because crypto can be used for any illegal purpose.

[vladlengo 8]

Us and China have plans for their own digitized currencies which are called Central Bank Digital Currencies. They will have encryption to secure the transactions, but I doubt that they will be blockchain based. The Libra has not actually released a certain roadmap which will be definite, and it hasn't been released yet, so it's future impact is still unknown. Although all of these efforts are obviously a product of concernt that Bitcoin has a chance to take over the transactions sector because of it's technical aspects which are still ahead of the competition

[Daramola Abiodun T 60]

On 11/6/2019 at 2:24 PM, 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...

Please, what is Libra? Is it also a crypto currency?

[Hunterdakka 25]

On 1/5/2020 at 6:32 AM, Soaib khan said:

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

It's true that China dominates 75% of BTC whereas USA reject cryptocurrency because that will crash dollar 

[Anton739 48]

Yes. I agree. It is a very unpredictable battle. Two economically strong countries with different strategies that we even don’t know. But still, if I had to chose, I would chose USA. For me it is more developed country. 

[Poezdec 1]

If both countries accept cryptocurrencies, this is very good news. Because the residents of their country can legally and easily work in the world of cryptocurrencies. If we talk about who will be the first, then my opinion is that this is the United States.

[yonnitox3 4]

Open interest in Bitcoin options reached its all-time high of $ 2.14 billion on September 24, a day before a huge quarterly expiration of 89,100 contracts, that is, 47% of the option contracts in existence at the time. Options are derivative contracts that give the holder the right (but not an obligation) to buy or sell an underlying asset at a predetermined price, also known as the "strike price."

 

 

 

 

 

[Hear80 122]

Obviously the United States I imagine that it must be a little more advanced and the whole question I am only waiting for China to launch its Yuan cryptocurrency.  I have faith that the Chinese cryptocurrency is a very strong economy and it will be a cryptocurrency backed by its government.

[Maria Hortensia Rojas Alviarez 31]

I think that at the moment China is the country that most advanced in cryptocurrencies, and the USA is still placing obstacles for the use of these.

[SuperCrypto 7193]

One of the most important issues in the world of cryptocurrencies is the possibility of major economies launching state-backed digital currencies. The United States of America and China are competing in this field. We may see the Chinese central bank currently planning to implement electronic payment in digital currency.

[Jromz 2158]

For now, China seems to be takin the lead in the implementation of a national digital currency, as digital Yuan is at an advanced testing stage, and has already been proved by public. However, I don't think any digital currency controlled by a central authority is going to radically change the current financial system, as bitcoin and other cryptocurrencies could potentially do, in my view their only aim is to decide who will take over the economic power over the coming years. 

[entrepreneur 634]

I think that if facebook finally launches libra coin, then it will have huge success because Facebook is still one of the best social media platforms, after instagram for teens.

[Onden 2098]

I think these two countries are always competing on everything including cryptocurrency. We don't know what's going on but maybe they have a plan about cryptocurrency. Crypto is inevitable and crypto will always develop, for that world finance is threatened by cryptocurrency. So a strategy is needed so that each country can defend its currency so that it can monopolize countries around the world.

[ramonn22 731]

On 11/6/2019 at 11:42 PM, Congli18 said:

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

Yes, dear colleagues, This is a very long debate to paralyze since many factors had to be seen but what is clear is that the two great world powers will have their plans regarding cryptocurrencies
Good luck and big profits for the whole community
A big greeting

[Mella 3680]

My dear I am read what you were say but it is that you were not see this is not a game between superpowers. They are think that control of miner will help them control the bitcoin but this is not simple. The bitcoin is not control by chinese miners, they are produce and make profit from it but they are can not have an opinion over the rest of the bitcoin community.

[Mosab73 333]

The view of the US government is that the cryptocurrency will become a way to launder money or drugs or support terrorism, and all this is a cover because the US institutions, FB and the deep state are looking for the possibility of adopting Bitcoin on the condition that the global monopoly of the dollar remains, especially since China has gone great lengths in blockchain technology and in the end it must  Competition will escalate further between China and the United States, the two largest economic powers in the world

[Sykkuno 2887]

Libra will be launched but it is not something that no government wants as they see it as a danger to the dollar, the yuan, the euro and all traditional currencies, but they will allow libra later as facebook is trying to make it happen to be more restricted and probably used only in facebook in the beginning.

[bogdanoff 3173]

Actually Libra will not make any difference for Bitcoin. It will be a different coin stable and centralized, something like the CBDCs we will see very soon. Maybe we will use libra and have wallets like in paypal but I wouldn't want to use it if I have to pass KYC.

[khan22 3478]

Both countries are the good countries and both are very strong and now this time these countries are involve in this market and they invest so many money in this market. Crypto is the best and great market in the world.

[annayks 2314]

Libra is not something that triggered China to create their own internet money but they had that planned for years. They tested and release it slowly, it will take a few years to be fully adopted and perhaps it will be used even by us sometime as we are already have chinese shops next door anywhere we live.

[cryptovlek 2597]

What is important is for cryptocurrencies to be adopted in both countries and not Libra or the CBDCs they create. Most of people in crypto believe that bitcoin will be more adopted than any of these.

[noshot 154]

Another year later and Libra still has not arrived. Maybe in 2021 next November there will be more news about the facebook coin and how it plans to sell more of our private data to marketers and make complete profile of our consuming habits.