backed cryptocurrency.

[nahidfresh99 465]

I saw in a news story that China is preparing to launch a currency of their own . Although China's central bank was trying to create a currency, launched in 2014, the use of cryptocurrency has been banned there so far.

I have no idea about this one in the future

[Rg123 318]

Is this legit? I guess there are accepting crptocurrency as a payments in transactions but not all the places there are accepting crypto.

[TimopheyKa 3900]

Yes, I also heard in the news that China, together with Russia and some other countries, want to create their own cryptocurrency, I think they will come out in this program, and they will be able to earn on this

And maybe it will even become a competitor to bitcoin?

[AL SHAIMON 1293]

I think china want to use cryptocurrency in there country. They already start to use blockchain system. Few days ago chinese president declare to use cryptocurrency. So I think this is very good news.

[Migo 7946]

Like I heared, it is not just China is preparing for this, but also Russia, but the question is this coin will be available for all the people or just Chinese citizens? 

[Riri07 25]

11 hours ago, TimopheyKa said:

Yes, I also heard in the news that China, together with Russia and some other countries, want to create their own cryptocurrency, I think they will come out in this program, and they will be able to earn on this

And maybe it will even become a competitor to bitcoin?

It is a good question. They will have their own currency but we don't know if someday it will be a competitor of bitcoin. I am happy to know this.

[PiroSense 2681]

17 hours ago, Rg123 said:

Is this legit? I guess there are accepting crptocurrency as a payments in transactions but not all the places there are accepting crypto.

They are planning to release their own digital currency to further overlook their population's financial activities, and also somehow to decrease paper money transactions that provides some privacy to where their money is spent.

 

Read more here: https://www.nytimes.com/2019/10/18/technology/china-cryptocurrency-facebook-libra.html

[Sumayya 493]

It is true that china want to create their own national cryptocurrency, which will be the coin of the central bank amd serve all the nation

[yifnt 666]

On 11/16/2019 at 8:36 PM, TubigWater said:

China are best in this kind of strategy so don't surprise when China announced that they legalized crypto someday. 

No need to wait anymore in the future because China has legalized cryptocurrency now and now China has many successful projects and successful exchanges that have a large community

[Emma 611]

If a cryptocurrency is backed by an expensive metal such as gold, silver or any others, then people become more interested about the coin and invest on the project.

[Tine0313 3053]

Please state some links about the news. I think they are accepting bitcoin and other cryptocurrencies are accepted as payment transaction in China, china is also one oth the pioneer in leagalizing ang making their own crypto. So for me, they are not banning crypto there.

[sportlopez9000 232]

I don't understand the point of backed cryptocurrency. It seems like a way for gold or stable coins to get into the crypto space and cash in on new investors. I mean the dollar is backed by the government, but the point of crypto is that its decentralized and backed by the people and not some asset, so I think backed coins are not really in the original spirit of bitcoin.

[teminalibug 309]

It is already clear that the Chinese government have laid their eyes on blockchain tech and saw a potential in it, I think this plan will push through.

[thiscomm 306]

this will continue to happen for the future because of the controversy over cryptocurrency which is thought to erase the existence of central money. but I prefer that crypto like now, no need to shift the existence of central money.

[cryptozalmii37 257]

One day every country will legalize the crypto sooner or later but it will happen it's the future of world and China is master of these strategies and they are already making money with crypto i think crypto is ban in some place in China

[duncun007 3577]

i think if china really did launch its own coin then this coin will definitely dominate the field in crypto because it will have a very large liquidity in the market and have real use cases in china,

[Afrizal rahman 2636]

I think cryptorency is very bright in the future. where people will accept it, maybe at this time there is still further review of how it will impact in the future. there are some countries that legalize it and some are illegal.

[thiscomm 306]

11 hours ago, Warrior said:

Both of them are necessary for us at present but in the modern world crypto currency is suitable to be the only one single currency and rule the world

but if crypto became the single currency in the world, then how would the world distinguish their degrees. Try to imagine the whole world using the same type of currency. then there will be no difference between the US and other countries, because their exchange rates are the same.

[cryptosix 1643]

On 11/16/2019 at 2:44 PM, nahidfresh99 said:

I saw in a news story that China is preparing to launch a currency of their own . Although China's central bank was trying to create a currency, launched in 2014, the use of cryptocurrency has been banned there so far.

I have no idea about this one in the future

They already told these things and they never allow anyone to do business in their country as we see they kicked out to Google. They had their own search engine own messenger and eCommerce store, so they will launch their own coin as this was told by several people in the past.

[Akbor 1042]

I think you need to be sure about if the news is real or fake. few days ago china has taken action against crypto and also they are trying to adopt bt too. I am not sure about what china want from crypto.

[nicolas1234789 2566]

They try to take first position for crypto development in economy global, so they are leader and we are follower. Not good sign for bitcoin because if works bitcoin will dump more deeper than 2019. They will try again and have potential to success, we should careful about this.

[dinabolt 514]

This country really hurry to take monopoly action in crypto world. Their success is our nightmare, bitcoin will end and we can't get income unless using their way. We should take alternative way before they start with more powerful system and program, this year is crypto competition.

[bliznec 22267]

If China wants to do this, then why not. The law is the law and it is worth observing. This also applies to cryptocurrencies. 

[bentayebsalah 2280]

This is the only safe solution for countries, and that is that if they have to support cryptocurrencies and blockchain technology, they must create their own currency to be under their control.

[Ionescu 115]

Multiple countries have announced to launch their own cryptocurrency but so far none of them have took action. China banned cryptocurrencies 2 years ago and now they want to create their own coin? That's strange