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sohaib

Cryptocurrency of China!

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Hello Friends, 

 I have read and watched in the news several times in the last few days that. Media and People are saying that; China is about to launch its own cryptocurrency but, as i study china's cryptocurrency in depth so i realized that this is not a cryptocurrency. it is just a digital form of fiat currency which is called Digital Currency. Please, I would love to know your prospects on this. What do you say? is it a cryptocurrency or just a digital form of fiat currency? 

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Yes at this time China will launch their own Crypto currency. But this currency is only for their own country and to regulate their economy. So the currency they launched is not for international purposes, but only for the needs of the country.

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13 minutes ago, Afrizal rahman said:

Yes at this time China will launch their own Crypto currency. But this currency is only for their own country and to regulate their economy. So the currency they launched is not for international purposes, but only for the needs of the country.

I know that is only for their country. But, that is not my question. my question is; Is it a Cryptocurrency or a digital currency? 

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2 minutes ago, sohaib said:

I know that is only for their country. But, that is not my question. my question is; Is it a Cryptocurrency or a digital currency? 

That possibility is the digital currency that they will create. Because until now I do not know because they are still in the process stage. Sorry for my answer if wrong.

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Not all,but many of chinese people involved in cryptocurrency.They think it is a source of extra income to set up themsalves as a employer.This trading system is increasing day after day.           

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Yes, I also know that China has actually created their own currency which can be used in currency.  So if this currency can get a place in cryptocurrency, then China will have a lot of money to earn through their currency transactions in China.

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The Chinese People's Bank is announcing the launching in the process of its own' cryptocurrency,' replacing the physical Chinese yuan in circulation, the central bank which manages China's monetary policy.

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Yes, China will launch a digital currency in the form of digital Yuan and its currency is only for the country, it is not the same as the Crypto currency which can be used throughout the world, although not yet officially in all countries. China will follow in the footsteps of crypto in its currency.

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5 hours ago, sohaib said:

I know that is only for their country. But, that is not my question. my question is; Is it a Cryptocurrency or a digital currency? 

It will use blockchain technology, and digital wallets based on asymmetric encryption. So it will be a crypto currency. However, far more centralized than the common crypto currencies today.

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Finally a currency which I believe might become a stable coin with a good future (community controlled Ecoin)

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yes china launching own crypto currency  china good country for digital currencies and maybe in future crypto currencies become legal in worldwide

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Yes you are right, I saw it too, I think not just China but every country is trying to launch its own currency, I think in this way they want bitcoin to disappear and reduce his power 

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China seems to be launching their own currency, I think they will never want this currency going anywhere in the world they are just making money for their own country and they will use it in crypto.

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China's own currency will be a very good step for China economically, and will make it a right place in cryptocurrency, because now through the medium of Chinese currency transactions, everyone will know that it is a Chinese currency and can be very familiar with it.  China will go ahead with its currency.

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Well wil see china is the strongest economy country today and seems crypto world is one of there target.they wilk realease there own crypto currency but a lot of news saying it is only available in there country

1 hour ago, Suhannewaz said:

The Chinese People's Bank is announcing the launching in the process of its own' cryptocurrency,' replacing the physical Chinese yuan in circulation, the central bank which manages China's monetary policy.

Really wow but i hope it will also available around the globe it seems we can also benifit from it specially when if that will have a bonus or bounty for sign up as well as mining of there currency😅

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China will just create a digital version of their yuan. It will be centralized and under total control of their Central Bank. It will be used widely in China and their government will be able to spy and track every transaction of their citizens. Chine does not want financial freedom and don't want bitcoin so they created their own version in order to control their population.

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I read some news that the China block some sites who runned Ethereum, is this true? Because that's totally sad because the Ethereum investors and trades is in danger. In the case of this new Crypto Currency of China I hope they will implemented it well because many investors may hurt their feelings if this project failed.

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Looks like it's digital form of china fiat currency or digital Yuan from what i read before, They making their own blockchain to become basis for the digital fiat so i don't think it's just another crypto like others beside that some rules about crypto on that country lately was really strict.

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Your words are true. If China were to launch a cryptocurrency, it would not be able to control it, which is why I don’t think it would launch a cryptocurrency, but a digital currency that represents the paper yen.

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Life is great and enjoy it

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Yes i agree with you that china launched the own currency in digital form. You know that the crypto currency is decentralized currency in this way the only one country cannot launched the crypto currency. For this purpose different countries work on same platform.

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If it will happen then it was easy for China to make it successful since China has a massive population to support their cryptocurrency and have a modernized technology to support blockchain tech.

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Personally, I did not come across this news, but if it is true and the currency is decentralized then this is great because many people will hear about the field and also we will see the entry of huge liquidity into digital currencies.

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10 hours ago, sohaib said:

Hello Friends, 

 I have read and watched in the news several times in the last few days that. Media and People are saying that; China is about to launch its own cryptocurrency but, as i study china's cryptocurrency in depth so i realized that this is not a cryptocurrency. it is just a digital form of fiat currency which is called Digital Currency. Please, I would love to know your prospects on this. What do you say? is it a cryptocurrency or just a digital form of fiat currency? 

I think digital currency is crypto currency. But as you said it means fiat currency. I am now confuse.

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17 hours ago, johant123 said:

It will use blockchain technology, and digital wallets based on asymmetric encryption. So it will be a crypto currency. However, far more centralized than the common crypto currencies today.

This makes some sense. btw, time will tell what is coming out. the whole world is looking at this launch and then all will start following. 

12 hours ago, Amir Vao said:

I think digital currency is crypto currency. But as you said it means fiat currency. I am now confuse.

No need to be confused my friend. Cryptocurrency is the Original Digital currency. But when you give Fiat currency a digital formation then somehow it is also called digital currency but totally different than Cryptocurrency.  

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1 hour ago, sohaib said:

This makes some sense. btw, time will tell what is coming out. the whole world is looking at this launch and then all will start following. 

No need to be confused my friend. Cryptocurrency is the Original Digital currency. But when you give Fiat currency a digital formation then somehow it is also called digital currency but totally different than Cryptocurrency.  

Is it separate technology from blockchain? 

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    • CryptoNews of the Week     – The Republican candidate for the upcoming US elections, Donald Trump, has declared his intention to become the "cryptocurrency president." Speaking in San Francisco, he presented himself as a defender of digital assets and criticized Democrats' attempts to regulate the industry. According to Reuters, Trump raised $12 million for his campaign at an event for venture capitalists from Silicon Valley, organized by Chamath Palihapitiya and David Sacks at Sacks' mansion in the Pacific Heights area. Media reports indicate that executives from the crypto exchange Coinbase, the founders of the Gemini trading platform, Cameron and Tyler Winklevoss, and other industry representatives were present at the event. Intercom CEO Eoghan McCabe shared on X about his participation: "I spoke with six people there. None identified as Republicans. All had voted for or donated to Democrats in the past. Now they support this guy [Trump] for his policies on war, immigration, cryptocurrency, and more. These elections are a referendum on these issues."   – The attitude towards cryptocurrencies will be a key difference between the candidates for the US presidency, Donald Trump and Joe Biden, though neither understands the topic. Billionaire Mark Cuban stated this: "Do you really think [Trump] understands anything about cryptography beyond making money from selling NFTs? Neither candidate understands. But I've often said that Biden will have to choose between [SEC Chairman] Gary Gensler and crypto voters, or it could cost him the White House."  Discussing the upcoming elections on X, ASI crypto-lawyer Preston Byrne noted that Trump's crypto policy is "actually very substantial and well thought out, while Biden's approach is insane and punitive."   – The "Intelligence Authorization Act for Fiscal Year 2025" was submitted to the US Senate on 3 June 2024. On 5 June, Senator Mark Warner's strategic amendment to this bill was published on the social network X, granting the US president new broad powers. This allows the president to "prohibit any transactions between any person under US jurisdiction and foreign intermediaries in digital asset transactions."  Financial lawyer Scott Johnsson criticized the law due to its wide scope. He sees it as an attempt to control digital assets under the guise of fighting terrorism, as the amendments added by Warner are borrowed from the Anti-Terrorism Financing Act.   – Late in the evening (CET) on 12 June, the FOMC (Federal Open Market Committee) of the US Federal Reserve will decide on the dollar interest rate. Historically, such decisions have always significantly impacted bitcoin's price. In this regard, ChatGPT-4o AI was tasked with forecasting BTC's price based on technical analysis and financial analysts' assumptions.  According to the AI, bitcoin will trade in the $68,000-73,000 range. However, a rate cut or hints of an upcoming reduction could push BTC beyond this range. In this unlikely economic scenario, ChatGPT-4o predicts the leading cryptocurrency will trade between $73,000 and $75,000 or higher.   – Over the past few days, the crypto market leader has lost nearly 10% in value. Many experts believe this is due to investors' concerns that US inflation will remain high for a long time. Under such conditions, a quick easing of the Federal Reserve's monetary policy is unlikely. Enthusiasm was also dampened by the fact that spot bitcoin ETFs broke a 19-day streak of investment inflows. On 11 June alone, industry funds lost nearly $65 million. MN Capital founder and analyst Michaël van de Poppe noted that investors are acting more cautiously ahead of the FOMC meeting on 12 June. He does not rule out that seller pressure will persist in the near term. Under such conditions, bitcoin could correct to $65,000. However, van de Poppe does not expect a deep price drop, as significant liquidity is concentrated around the $60,000 mark, indicating strong support, and positive dynamics could be supported by geopolitical instability.   – Traders note that "digital gold" has recently been trading within a narrow range of $66,000 to $72,000. One popular market participant considers the lower boundary an ideal entry point, while entry at the upper boundary carries high risk.  Despite recommended caution, over 70% of the crypto community participants in several surveys believe BTC is on the verge of continued growth. For example, a trader nicknamed Captain Faibik is confident that bitcoin is preparing to break out of the "expanding wedge" technical analysis pattern. Breaking above its upper boundary, in his opinion, will open the way for the cryptocurrency to rise above $94,000. Trader Titan of Crypto, in turn, expects bitcoin to reach $100,000 this summer.  Community participants also point to the activity of large investors as a sign of BTC's growth potential. Whales, according to crypto industry representatives, are actively taking long positions in bitcoin. Cryptoquant CEO Ki Young Ju noted that the $69,000 level has become particularly attractive for large investors.   – By the end of 2024, the first cryptocurrency will be worth between $125,000 and $135,000, according to BitGo CEO Mike Belshe. He believes that one of the catalysts for bitcoin's growth will be the high level of US national debt. "Our macroeconomic climate continues to confirm the necessity of bitcoin. Without a doubt, the US national debt is out of control. […] This situation supports the idea that bitcoin is the gold of the new generation," Belshe said.  He also noted that the US dollar is losing its position as the world's reserve currency due to US foreign policy. The BitGo CEO believes that the country uses the dollar as a weapon and a tool for manipulation. "Thus, the US national debt crisis is one thing, foreign policy and sanctions control is another. And BRICS is providing alternative payment systems. […] This is the story of why bitcoin exists," he concluded.   – The new Binance CEO Richard Teng, who succeeded Changpeng Zhao, believes that bitcoin will soon exceed $80,000. Teng associates the potential new high with the launch of spot BTC-ETFs traded on stock exchanges. This has strengthened trust in the asset, and retail traders and institutions no longer perceive it as risky. The Binance CEO also suggests that cryptocurrency legalization is possible if Donald Trump is elected president of the United States. Declaring himself a "crypto president," Trump stated in May that the US should lead the global crypto industry.   – The self-proclaimed first resident of Bitcoin City, American Corbin Keegan, left El Salvador without seeing his dream city begin to take shape. In November 2021, El Salvador's President Nayib Bukele announced plans to establish a crypto settlement. Upon hearing this news, Keegan left Chicago and headed to the South American country to become Bitcoin City's first resident. However, his patience eventually ran out, and he returned home.  The project's implementation was likely frozen due to a lack of funding. Bukele wanted to raise the necessary funds through the sale of "Volcano Bonds." These securities were planned for release in Q1 this year, but for various reasons, they did not see the light of day. Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/
    • Cardano Node 9.0 будет запущен в июне и подготовит платформу к форку Chang   Cardano Node 9.0 будет запущен в июне. Это обновление подготовит платформу блокчейна к долгожданному форку Chang. Основатель Cardano Чарльз Хоскинсон сообщил об этом событии на X. Хоскинсон отметил, что хардфорк может произойти после того, как 70% операторов стейкингового пула (SPO) установят новый узел. Это приведет Cardano в эпоху Вольтера, ознаменовав состояние полной децентрализации — огромную веху для сети и всей индустрии блокчейнов. Хоскинсон назвал это самым значимым событием в истории Cardano.   Хоскинсон описал путь развития за последнее десятилетие, заявив, что создание Cardano было похоже на строительство нации. Он выразил гордость за сообщество и оптимизм на будущее. Хоскинсон считает, что Cardano дает надежду отрасли и всему миру, и призвал всех оказать значительное влияние в следующем десятилетии. Три дня назад основатель прокомментировал несоответствие между восприятием СМИ и реальным прогрессом Cardano. Он раскритиковал криптовалютные СМИ за непризнание достижений Cardano.
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