China can easily launch a coin while Facebook is having a hard time

supercanada1

sr. member

Activity: 798

Merit: 253

Quote from: JeffBrad12 on November 04, 2019, 10:22:43 AM

Quote from: alexsandria on November 04, 2019, 09:58:10 AM

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

It is not about the name who wants to produce it. Mark Zuckerberg and facebook has its reputation around the world though they have a huge name what they are fighting against is the government who has the absolute authority with it. What they differ is that the China government is somehow open with this plus they all been regulated I supposed which on the other hand facebook Libra is having a hard time with that. If it was all about the name probably facebook would make it through

Despite of all that I'm pretty sure that China themselves want a more centralized version of blockchain. Even Xi Jinping himself say to specifically accelerates the use of blockchain and not the cryptos. It's the same as those company that did research to implement blockchain system into theirs threfore it won't bring that much change to the crypto market anyway and I do agree with you. Facebook is a private company while China is a country and it has the authority to create the regulation or change it to whatever they want really different if you compare to Facebook where they will be facing a dead end if the government doesn't approve.

The main issue that china has with bitcoin and other such kinds is decentralized nature of them. This is the whole reason why China is trying to push away supporters of bitcoin by playing cheap tricks from time to time. Now bitcoin has no central authority, which means no one can control it, not even China. Due to this, it cannot control the digital market, which is future, either. This is the whole game. Blockchain is powerful tool, it cannot ignore that either.

quierx16

full member

Activity: 434

Merit: 110

Quote from: ATSgrowth on November 01, 2019, 12:16:00 PM

All about China is a big bubble. Chinese altcoins are pumping only because fake news are spread across the community.

Why are you calling it a bubble? I think its a hard accusation, spreading fake news is just their strategy to get more attention Im not saying its a good thing to spread fake news but its business and thats the strategy they decide to use to win the market.

Fappanu

sr. member

Activity: 1111

Merit: 255

China is led by law enforcement so how can we prevent them? While the Facebook Coin is only made by someone who complies with the law.

So we can't compare these two because they are so far apart and they have a huge difference. And yet we can not prevent a country to make their own coin. Maybe it can if it has a bad effect on people.

Hamphser

sr. member

Activity: 2604

Merit: 338

Vave.com - Crypto Casino

Quote from: ableh on November 04, 2019, 11:16:37 AM

Quote from: robelneo on October 29, 2019, 11:20:09 AM

Why China can easily launch a coin while Facebook is having a hard time
~snip~
What's your thought on this?

It because China Coin is fully supported by the government, while Facebook isn't. If look at the Libra case, it seems that regulation is not the main problem, because I am sure they can easily to overcome this. So in my opinion, Facebook is always dealing with problems because it is related to business or personal interests. Considering that Libra is product of private company not government, so they will have trouble to control it if one day Libra is more attractive than the USD.

That's the difference between China and Libra coins. A private company versus the government, of course the government will always wins first. But if the government supported Libra coins we shouldn't be talking about it now why it still got delayed. China has been very picky of choosing their own cryptocurrency that's why they ban it before but now that they've decided to embrace the blockchain technology they're now making their own crypto.

chaoscoinz

sr. member

Activity: 1150

Merit: 260

☆Gaget-Pack☆

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

My thoughts are that Xi Jinping is General Secretary of the Communist Party of China, while Mr. Mark Zuckerberg is Facebook's founder and current chairman. The difference is Mark is just a regular Joe who started and works for a company while Xi is a general.
The differences are staggering. You have a member of China's communist party who's opinion holds heavy weight, vs a regular capitalist, who's opinion doesn't hold much weight by itself on government issues, hence why he went ton Congress first to receive their opinions on his Libra platform.

ableh

sr. member

Activity: 498

Merit: 251

CryptoTalk.Org - Get Paid for every Post!

Quote from: robelneo on October 29, 2019, 11:20:09 AM

Why China can easily launch a coin while Facebook is having a hard time
~snip~
What's your thought on this?

It because China Coin is fully supported by the government, while Facebook isn't. If look at the Libra case, it seems that regulation is not the main problem, because I am sure they can easily to overcome this. So in my opinion, Facebook is always dealing with problems because it is related to business or personal interests. Considering that Libra is product of private company not government, so they will have trouble to control it if one day Libra is more attractive than the USD.

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

Quote from: alexsandria on November 04, 2019, 09:58:10 AM

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

It is not about the name who wants to produce it. Mark Zuckerberg and facebook has its reputation around the world though they have a huge name what they are fighting against is the government who has the absolute authority with it. What they differ is that the China government is somehow open with this plus they all been regulated I supposed which on the other hand facebook Libra is having a hard time with that. If it was all about the name probably facebook would make it through

Despite of all that I'm pretty sure that China themselves want a more centralized version of blockchain. Even Xi Jinping himself say to specifically accelerates the use of blockchain and not the cryptos. It's the same as those company that did research to implement blockchain system into theirs threfore it won't bring that much change to the crypto market anyway and I do agree with you. Facebook is a private company while China is a country and it has the authority to create the regulation or change it to whatever they want really different if you compare to Facebook where they will be facing a dead end if the government doesn't approve.

alexsandria

sr. member

Activity: 896

Merit: 268

★777Coin.com★ Fun BTC Casino!

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

It is not about the name who wants to produce it. Mark Zuckerberg and facebook has its reputation around the world though they have a huge name what they are fighting against is the government who has the absolute authority with it. What they differ is that the China government is somehow open with this plus they all been regulated I supposed which on the other hand facebook Libra is having a hard time with that. If it was all about the name probably facebook would make it through

Golftech

hero member

Activity: 2128

Merit: 520

Quote from: BartS on November 04, 2019, 12:37:28 AM

Quote from: joshua123 on October 31, 2019, 08:59:30 PM

US can't interfere with China plans. Yes it is another issue on politics I guess, Mark's project is under US government which is under their direct supervision. This is clearly Libra Project is just been holding by the SEC and Congress. How come they can't support their own member. Cause one thing I'm sure, US protect only those with their best interest unlike China that support their own. They are really one country one team.

If cryptocurrencies keep gaining recognition around the world then the US government at some point is going to want to release their own cryptocurrency.

When you think about this it does not make too much sense for the US government to allow Facebook to release their own coin, they will have to compete against Facebook if they let them, and Facebook will also become something more than a social network it will become something closer to a central bank.

That's the logic and the very reason why the US government and European nations are not interested to allow Libra to exist, it will gained much power over their financial system. Unlike China's own version's of crypto where the President itself who foresee the future advantage of blockchain. Allowing the government to use the system to create crypto that will cater the needs of their people who knows how crypto works.

karanggatak

hero member

Activity: 1106

Merit: 506

I don't think we can compare the Chinese crypto coin called DCEP with Facebook Libra. because they are different. Facebook is a cryptocurrency coin that will be created by a large company and which already has sizable members throughout the world. Most European governments and members of the United States Congress reject Libra for fear that Libra will disrupt the stability of the dollar and euro. while DCEP is a cryptocurrency made by the Chinese government for their people. so that this DCEP can be easily created and released because it is supported by the Chinese government.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: joshua123 on October 31, 2019, 08:59:30 PM

US can't interfere with China plans. Yes it is another issue on politics I guess, Mark's project is under US government which is under their direct supervision. This is clearly Libra Project is just been holding by the SEC and Congress. How come they can't support their own member. Cause one thing I'm sure, US protect only those with their best interest unlike China that support their own. They are really one country one team.

If cryptocurrencies keep gaining recognition around the world then the US government at some point is going to want to release their own cryptocurrency.

When you think about this it does not make too much sense for the US government to allow Facebook to release their own coin, they will have to compete against Facebook if they let them, and Facebook will also become something more than a social network it will become something closer to a central bank.

ATSgrowth

full member

Activity: 924

Merit: 106

homt.net

All about China is a big bubble. Chinese altcoins are pumping only because fake news are spread across the community.
But China is going to create private digital Yuan, not a cryptocurrency, mineable, decentralized.. Also president is not talking about cryptocurrencies, but about blockchain only. Roll Eyes

bison

full member

Activity: 778

Merit: 100

SmartFi - EARN, LEND & TRADE

Coin launching requires careful planning. Libra is planning the best and I hear if Libra will come in the market next year. there is still time and not just China, but all countries that are not hindered by their country's regulations can make launching their coins. managing the regulations will be very important to help ease or hinder the growth of coin launching.

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

It is totally a different thing entirely, because if you look at the two projects, one is being launched by the government itself, because china is the one in control of the project while the second one is coming from an individual that is trying to influence things because of the money that he has, but that does not make him a government.

If the project of Libra had been designed separately for government, I believe that they would not have been having the challenge they are having right now, but because the whole code thing will be with the Facebook team which is of threat to the government, you don’t expect the government to accept the project just like that and also for the fact that these people are still having some pending unresolved issue with Facebook.

Wintersoldier

sr. member

Activity: 966

Merit: 274

Quote from: crazy-pilot on October 31, 2019, 01:23:45 PM

In my opinion, these coins cannot be compared with each other. How can we compare China's digital money and the Facebook global ecosystem? Who can forbid a country to make its own coin?

We don't have a reason why we need to compare China's digital money and facebook currency, they are very independent to each other. And one we can do is to only educated people on how these two massive crypto news will affect the cryptocurrency community. It is really hard for Libra to launch their coin because of their privacy issues, and it is very easy for China to launch their own coin because they are backed by their Government.

joshua123

full member

Activity: 527

Merit: 113

US can't interfere with China plans. Yes it is another issue on politics I guess, Mark's project is under US government which is under their direct supervision. This is clearly Libra Project is just been holding by the SEC and Congress. How come they can't support their own member. Cause one thing I'm sure, US protect only those with their best interest unlike China that support their own. They are really one country one team.

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: alyssa85 on October 31, 2019, 10:50:25 AM

Quote from: pgbit on October 30, 2019, 01:54:44 PM

This is one area where I think China has an edge over USA, while we have to admit that Libra is not owned by the USA Government and one of the reasons why they are kicking against it is that it puts too much power in the hands of an individual who isn't part of th Government, I also have to admit that if it were the USA trying to launch their own cryptocurrency, it would take them a while lot of time to think and execute it cos it has to has through many books and go through a bunch of approvals from different arms of Government before it's eventually implemented.

I don't think they have an edge at all.

How many people will trust the new Chinese coin enough to buy it and hold it? It's just another attempt for the Chinese govt to control their population - this time with a crypto that has a public ledge and identities tied to addresses so they can track all money.

Exactly! That's the main reason why they banned all the exchange and other btc related transactions in their country only to find out that they're planning to make their own coin. It does not make any sense deprieving the people to use btc and other alts just because they want their own to control the people financially. They might seem to have realized how blockchain technology could possibly improve their country's economy.

Menawi12

member

Activity: 700

Merit: 10

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

China has a different political system from America so that the Chinese government is more free to carry out movements in any field. Libra as a company in America must comply with American regulations and this makes Libra coin not as fast as the Chinese government in launching coins

Beparanf

hero member

Activity: 2954

Merit: 796

Quote from: LouVandetta on October 31, 2019, 07:20:51 PM

Wasn't this because President of China itself has approved and announced of it?
And For a third party such as facebook cannot be compared to China's own coin. It all depends on US Government, actually.
Facebook must've faced a hard time with regulation, rules, all those documents that needs to be approved.
As long the government supports facebook, I think they could launch Libra more easily. But, not now I guess.

SEC has so much to think about Libra such as there can be no assurance that Libra or their associated products and services will be made available in a timely manner.

After announcement of their president they pursue more their own coin, since it is fully used only in China it will not affect too much the cryptos now since China still bans exchanges it will just be like a normal fiat operating like a token while Libra been facing regulation issues since Facebook been used often and have many supporters that may affect privacies. BTW Facebook still ban in China, they just maybe only want to released their coin before Libra find ways to continue in their plans. Both projects have different take in crypto moves.

LouVandetta

sr. member

Activity: 602

Merit: 253

Wasn't this because President of China itself has approved and announced of it?
And For a third party such as facebook cannot be compared to China's own coin. It all depends on US Government, actually.
Facebook must've faced a hard time with regulation, rules, all those documents that needs to be approved.
As long the government supports facebook, I think they could launch Libra more easily. But, not now I guess.

SEC has so much to think about Libra such as there can be no assurance that Libra or their associated products and services will be made available in a timely manner.

dark08

full member

Activity: 798

Merit: 104

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

If you looking on the both side Facebook libra have faced so many enemy that the other side or goverment are afraid on what facebook libra can do if there launch its immediately.
On the other hand we cannot say that China can fully run or launch cryprocurrency but this is a good news for all crypto people.

mahibul49

full member

Activity: 826

Merit: 104

china can launch their coin easily because chinese govt announced this..facebook having hard time because libra is is a threat to US dollar and US govt is in opposite of libra.

deadsilent

hero member

Activity: 1148

Merit: 500

Because Facebook Libra have so many enemies. Most of them are on government. What is more likely to happen? Majority of partners of Libra have gone because they don't wanna risk their business. The Libra development was stucked and still on debate. That's the problem when government interferes. I think Libra is impossible to launch for now. While China creates its new cryptocurrency just like that. Because it is supported by the government. The cryptocurrency will launch anytime on 2020.

samcrypto

sr. member

Activity: 2044

Merit: 314

Vave.com - Crypto Casino

Quote from: spadormie on October 31, 2019, 11:30:22 AM

China is opportunist and I think what you're saying is really possible. But, you also need to consider the power of SEC. Do you think that they will just let this one out? Or do you think that they confront China for this? I think the first option could be the most likely to happen thing.

SEC under the government of China can easily approve that coin but since Libra coin is a company that US hates the most I think, they will have a hard time to make public their coins and idea. US are showing his power to control their people as well, maybe for their own interest while China wants to take advantage the growing market of blockchain technology for them to survive and be ahead to other nations.

Lagduf

sr. member

Activity: 1162

Merit: 260

Quote from: danherbias07 on October 31, 2019, 10:45:48 AM

Libra is different, it will be used worldwide specially facebook can be used everywhere. That is how it will work. The same with Facebook.
Their real problem though is they need to abide by the rules of their origin country which is United States and their president oppose in crypto currencies.
So that will always be a no go.

The government are afraid that Libra could potentially become their own enemy if it goes popular, when so many people uses Libra facebook will have control over economy and Facebook is a corporation therefore letting them having control over the economy is a big disaster in the eyes of Government.

Even if the US government allow the release of Libra people will still doubtful anyway because the fact that facebook is an unstrustable company.

xiboothrezi

sr. member

Activity: 1246

Merit: 285

Quote from: JeffBrad12 on October 29, 2019, 05:14:14 PM

Not an apple to apple to compare facebook's cases to China. Even I've never heard China is going to launch their own coin anyway all that is spoken by Xi Jinping is just accelerating the use of blockchain doesn't necessarily saying that China will release their own crypto coin.
What become facebook's problem is that it is a private company trying to issue a currency by their own and could possibly challenge the dominance of USD in the US and worlds. ofcourse the government wil try all they can to stop such a thing from happening they want an absolute control over literally everything.

You are right, it is not comparable when comparing the two. Because both are also backed up by institutions that are completely different, the effect is certainly not the same in the eyes of the world. Who can oppose government policy? that is the right and sovereignty of that country. While Facebook, even though it has a giant community, it lacks as much support as the government's dominance.
Well, it looks like you have to read again about China plans to release cryptocurrency.

Arkann

full member

Activity: 714

Merit: 104

Quote from: crazy-pilot on October 31, 2019, 01:23:45 PM

In my opinion, these coins cannot be compared with each other. How can we compare China's digital money and the Facebook global ecosystem? Who can forbid a country to make its own coin?

You are absolutely right, because these are cardinally two different cases. In addition, the national currency in the cryptocurrency equivalent can in no way harm other countries that are very actively opposing the creation of cryptocurrencies such as Libra. Creating your own national cryptocurrency is a personal matter for every country.

crazy-pilot

sr. member

Activity: 860

Merit: 253

SmartFi - EARN, LEND & TRADE

In my opinion, these coins cannot be compared with each other. How can we compare China's digital money and the Facebook global ecosystem? Who can forbid a country to make its own coin?

coin-investor

hero member

Activity: 2996

Merit: 598

Leading Crypto Sports Betting & Casino Platform

Quote from: alyssa85 on October 31, 2019, 10:50:25 AM

Quote from: pgbit on October 30, 2019, 01:54:44 PM

This is one area where I think China has an edge over USA, while we have to admit that Libra is not owned by the USA Government and one of the reasons why they are kicking against it is that it puts too much power in the hands of an individual who isn't part of th Government, I also have to admit that if it were the USA trying to launch their own cryptocurrency, it would take them a while lot of time to think and execute it cos it has to has through many books and go through a bunch of approvals from different arms of Government before it's eventually implemented.

I don't think they have an edge at all.

How many people will trust the new Chinese coin enough to buy it and hold it? It's just another attempt for the Chinese govt to control their population - this time with a crypto that has a public ledge and identities tied to addresses so they can track all money.

Once it is traded outside of China and big exchange-listed it there, there is a possibility that people will invest in this coin, the whitepaper is not yet out they can still change their mind and opted not to be stable coin to compete with Facebook coin, but we cannot say that it will not be trusted, some people are investing in coins they don't trust, but since it gave them profit, they are ok buying and holding it.

spadormie

sr. member

Activity: 840

Merit: 268

China is opportunist and I think what you're saying is really possible. But, you also need to consider the power of SEC. Do you think that they will just let this one out? Or do you think that they confront China for this? I think the first option could be the most likely to happen thing.

Suharti12

member

Activity: 350

Merit: 10

What coins will be launched by China, I have not seen that. Then, will the Chinese government system all agree if China launches Cryptocurrency coins? because this will automatically compete with the applicable Fiat Money in China ?! I think even though China is a big country, they will not be as easy as you thought when they will issue Crypto coins, there will definitely be pro and contra from various parties.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Quote from: pgbit on October 30, 2019, 01:54:44 PM

This is one area where I think China has an edge over USA, while we have to admit that Libra is not owned by the USA Government and one of the reasons why they are kicking against it is that it puts too much power in the hands of an individual who isn't part of th Government, I also have to admit that if it were the USA trying to launch their own cryptocurrency, it would take them a while lot of time to think and execute it cos it has to has through many books and go through a bunch of approvals from different arms of Government before it's eventually implemented.

I don't think they have an edge at all.

How many people will trust the new Chinese coin enough to buy it and hold it? It's just another attempt for the Chinese govt to control their population - this time with a crypto that has a public ledge and identities tied to addresses so they can track all money.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

It might be a Chinese coin for China only.
Is there already a whitepaper for this?

Libra is different, it will be used worldwide specially facebook can be used everywhere. That is how it will work. The same with Facebook.
Their real problem though is they need to abide by the rules of their origin country which is United States and their president oppose in crypto currencies.
So that will always be a no go.

Pet240

jr. member

Activity: 486

Merit: 3

SEC or any other financial institution cannot act against what the government of China has come up with, because they are not subject to them.
Libra is subject to this authority and that is why they can be stopped or controlled in whatever form or way they feel.

Colt81

sr. member

Activity: 630

Merit: 265

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

I don't think that Libra coin Facebook is having a hard time on launching their coin because Facebook already have plans before they launch their coin in the year of 2020. I think the reason why China will be taking the first step on launching their coin because their government starts to regulate blockchain technology and they are very competitive that they wanted surpass Facebook.

sulis sudibyo

member

Activity: 882

Merit: 11

Volare.network

yes maybe China will launch their own crypto, but please note that the crypto plan will be managed directly by its central bank. so that means the coin cannot be said to be crypto because it is centralized and controlled. it's just like Fiat money, they only use blockchain as a tool for promotion. and to make people forget the purpose for which the coin was made. I heard that the coin was made so that the government can monitor the online activities of its citizens, they can monitor what they buy on the internet and others. isn't that worse?

Drai

sr. member

Activity: 567

Merit: 270

This Chinese are a very competitive set of people especially at a time like this where they are fighting very heard to grab more power in the international stage adjust the quiet battle between US and Chinese companies, I am not the least bit surprised by the change of heart by the Chinese Government, infact I was even expecting it but one thing I can say about them is that they are definitely decisive and can move fast when they want to and this incident just proved it, 2020 looks like a great year for Cryptocurrencies especially if other major countries would also follow on the Chinese footsteps.

Aabcde

sr. member

Activity: 1050

Merit: 256

Yes, of course, the road for China is very easy because their own president agreed. While Facebook with Libra is not the holder of power in the US. So it's clear DCEP will lead the launch rather than Libra.
If later Libra is realized, it might not be long for adoption when viewed from the number of Facebook users gathered from all over the world. Whereas China's DCEP might be used for their own country.

trauchot

member

Activity: 1764

Merit: 10

That's right, because nobody can forbid anything to China and China can create their own cryptocurrency at any time, but in the USA, as we know, everything is much more complicated with cryptocurrencies and every cryptocurrency created there goes through too many checks and problems due to which almost all cryptocurrencies companies are closing there.

DabsPoorVersion

sr. member

Activity: 1260

Merit: 315

www.Artemis.co

Quote from: m0Ray on October 30, 2019, 11:25:50 AM

The difference is that China issues state-owned cryptocurrency. Facebook is a private company that wanted to issue a regulated cryptocurrency. But these are different things. China in this case very much succeeded and the shares of their companies were able to soar. Only I can not understand why because of such news the shares of amerekan companies also rose by 1.5%?

China has more chance here to have and successfully launched its own coin compared to Facebook. Chinese government led the adoption of blockchain and it's their smartest move to start building a coin.
Facebook is still having a hard time to propose their crypto to be legalized by their government. If this is somehow also considered by the US government, then maybe Facebook can have the same movement as China.

Murat

hero member

Activity: 2156

Merit: 711

Telegram @tokensfund

When your countryman is willing to create a blockchain platform then nothing could stop this system, So In China, it's looking very easier than Libra where the USA government is not in favour, I think that's the main reason in order to allow blockchain in China, two biggest economic countries are trying to dominate and defeat each other, when the USA takes an initiative then China takes another different aspect, by this war, I think blockchain will get established around the world, so war sometimes brings a positive thing also, so It's matter of time China is going to be the first country to launch Blockchain system officially.

pgbit

sr. member

Activity: 771

Merit: 258

Trident Protocol | Simple «buy-hold-earn» system!

This is one area where I think China has an edge over USA, while we have to admit that Libra is not owned by the USA Government and one of the reasons why they are kicking against it is that it puts too much power in the hands of an individual who isn't part of th Government, I also have to admit that if it were the USA trying to launch their own cryptocurrency, it would take them a while lot of time to think and execute it cos it has to has through many books and go through a bunch of approvals from different arms of Government before it's eventually implemented.

Perfect35

member

Activity: 854

Merit: 10

When the government is fully involved in the launched of a thing, particular this time that it is cryptocurrency, it will surely materialize and will be easy. However, what China want to launch centralized. Facebook on the other hand is having hard time, because the government and that those in authority are not supporting it.

panganib999

hero member

Activity: 1750

Merit: 589

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Well of course, China will have the most potential of success in launching its own coin than facebook. Although facebook has the popularity for being the most used social media platform, having massive adaption and being on the mainstream for so long. China wil have the upperhand because of having a good economic condition. China is one of the leading countries in the world and has the largest population, aside from their good influence globally, their population would be of good help with the adaption of the coin once China's coin is launched.

biddicoin

sr. member

Activity: 1077

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

China is government, Facebook is company, they are different and we all know why it would be different to get permission

but, i wanna say smth. it tells to us that the big giant would join to this technology revolution. no matter how big the company is, how big the country is, etc

i see bright future from those things, im optimistis as f*ck with this technology

m0Ray

sr. member

Activity: 868

Merit: 251

The difference is that China issues state-owned cryptocurrency. Facebook is a private company that wanted to issue a regulated cryptocurrency. But these are different things. China in this case very much succeeded and the shares of their companies were able to soar. Only I can not understand why because of such news the shares of amerekan companies also rose by 1.5%?

electronicash

legendary

Activity: 3178

Merit: 1054

a country can easy launch a coin if its government back coin like china. but it ain't easy for a government to do that. china can easily do it since an authoritarian government can implement for its citizen.

facebook coin though will be good for adoption but regulation will take them down, its not a government backed project so its not easy for them to launch.

Savemore

sr. member

Activity: 952

Merit: 274

Quote from: Pamadar on October 30, 2019, 10:51:00 AM

Quote from: Inu.Guren on October 30, 2019, 10:44:37 AM

of course china can do that easily because on this country blockchain and cryptocurrency industry are supported by goverment where facebook must face regulation from goverment where in america blockchain and cryptocurrency are restricted

Consider also that the person behind this two proposals have different state from their respective countries. china's coin was proposed by the president itself while Libra was introduced by facebook president and being back up by some other businesses behind. It's not a surprised that China's proposed crypto will be much quicker to launch as like what you have said, the government itself who are aiming for it to be available and useful while the Libra coin have difficulty to convince the congress.

Their president Xi Jinping are the one who proposed to create a coin in their country and that's why the process is very fast unlike in U.S, the libra coin that backed by the facebook are having hard time to pass in the congress because of the regulations.

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: Inu.Guren on October 30, 2019, 10:44:37 AM

of course china can do that easily because on this country blockchain and cryptocurrency industry are supported by goverment where facebook must face regulation from goverment where in america blockchain and cryptocurrency are restricted

Consider also that the person behind this two proposals have different state from their respective countries. china's coin was proposed by the president itself while Libra was introduced by facebook president and being back up by some other businesses behind. It's not a surprised that China's proposed crypto will be much quicker to launch as like what you have said, the government itself who are aiming for it to be available and useful while the Libra coin have difficulty to convince the congress.

Inu.Guren

full member

Activity: 379

Merit: 100

homt.net

of course china can do that easily because on this country blockchain and cryptocurrency industry are supported by goverment where facebook must face regulation from goverment where in america blockchain and cryptocurrency are restricted

ven7net

full member

Activity: 1946

Merit: 112

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

I believe that China wants to take the lead in cryptocurrency and for this it is enough for them to launch their own cryptocurrency first. Now there is a struggle for leadership in the crypto sector, which means we are right now seeing the battle of large players for the crypto market. In any case, it should be good for you and me, regardless of who is the first to launch his cryptocurrency.

Shasha80

sr. member

Activity: 1876

Merit: 318

It's clear the difference is in the creator of the coin, if China launches it's own coin the creator of the Chinese government
itself clearly does not need to ask for permission. Different from its creator libra facebook, therefore it needs the permission
of the USA government from that China coins are easier to launch than libra coins which are hampered by permission from
the USA.And also Facebook as the largest shareholder of Libra has a case related to the security of its customer data, this is
causing the USA government is heavy in giving permits.

X-ray

hero member

Activity: 3038

Merit: 526

Leading Crypto Sports Betting & Casino Platform

Quote from: Rebisco on October 30, 2019, 10:29:14 AM

It is simple because of the regulations in their country. In china, the government itself are favor to launch a coin while the Facebook is having a hard time because of the regulations that should be followed. There are people who are not favor to libra coin and that's why the process are so slow.

It is just recently that China is in favour of blockchain although I've never heard the news about china releasing crypto really other than just a rumour but it's kinda different if you compare China to Facebook here basically you are comparing a country with a private company.
In this case China could easily launch a coin because they make the regulation themselves but Facebook has to obey the regulation and there's no other way around. It's like a dead end for the company if they are about to be trapped into this regulation.

Rebisco

full member

Activity: 651

Merit: 103

It is simple because of the regulations in their country. In china, the government itself are favor to launch a coin while the Facebook is having a hard time because of the regulations that should be followed. There are people who are not favor to libra coin and that's why the process are so slow.

beerlover

legendary

Activity: 3052

Merit: 1188

The difference is China is a nation, facebook is a company. Facebook can't launch their own currency whenever they want because they would have to face US congress and explain what they are doing with Libra and they need to convince Libra to congress and so forth, after that is all said and done they would have to convince other nations to accept as well so that they can make it work there as well so their system would work.

On the other hand, China is a whole nation, and not just any nation it is the biggest economy in the world and they are super rich and run by dictatorship so they can create any coin they want, they can delete all cash from existence in their nation and just use crypto if ever want to, it is all their power to do whatever they want and they have nations they control which would be forced to use their crypto as well if they wanted to.

senne

hero member

Activity: 1078

Merit: 507

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

China is creating state sponsored cryptocurrency. It will be regulated by Chinese government just like fiat. You are not forced to buy that currency. Though it will be widely accepted throughout China and will have its use case as payment ecosystem. Just like exchange currencies. You can still buy Yuan and no regulations are needed for that. Whereas Libra is company owned and not regulated. Giving a company which has been involved in privacy related crimes, so much power over payment ecosystem isn't a very good idea.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

First of all, nobody can guarantee whether China will launch their own coin or not.
Secondly, the comparision between Facebook's Libra and China's cryptocurrency is completely different since one is going to be used at a global level while the other is rumoured to be used at national level.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: robelneo on October 29, 2019, 11:20:09 AM

What's your thought on this?

Comparing apples with oranges will return nothing relevant.

Libra is the project of some (western) companies; they have to convince regulators in order to avoid fines and bans in various countries. They want to work with Western banks, so they need to be clean.

The Chinese coin will be launched in China. They don't have to ask anyone what to do in their country, they are the government and the regulators there. And they are "the board" for the bank too. Whether the coin will be traded outside China is another interesting matter.

In the western world I expect the Chinese coin be either not traded, either be treated like Tether's little cousin. I think that FB wants more than that for Libra (!)

tenakha

hero member

Activity: 1470

Merit: 509

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Libra and the Chinese government are not competing with each other. That is why Libra's issues are not an advantage for China. These two coins will help us no more than mass adoption. Indeed, I think that will be enough for us, we will do the rest ourselves. Already both will be coins managed by someone, which is not what we want.

robelneo

legendary

Activity: 3416

Merit: 1225

Quote from: bittraffic on October 29, 2019, 11:34:38 PM

The difference is that Facebook has the shady past about privacy and plans it to be used in many countries while China kept their dirty secrets all the time for their own. Xi Jinping's coin are only meant to be used in China as far as I know so its just in their system alone not for everyone like their own fiat and very centralized too. Facebook coins is for all users and can open pandora's box if not controlled, the regulators hate Zuckerberg and its likely doomed to die.

That is China's plan but unless they release their own whitepaper we still don't know if they are going to use it only in China, but China is everywhere they have stakes everywhere, every country has a Chinatown.
There's a possibility that the coin will not be within the confines of China and it will become borderless, again unless they release their whitepaper, if it has one, we can only guess.

tinyteapot

sr. member

Activity: 1175

Merit: 275

Facebook is a registered company that is registered in the USA and subjected to tax and regulations.
US Congress has asked Facebook to pause development on its Libra cryptocurrency because the lawmakers needs more time to investigate the ramifications of the company’s actions.

China on the other hand is a sovereign state, independent from foreign influence.

It shall be easier for china to create their coin since it is a sovereign state but facebook require to pass through the congress in order to implement their coin.

bittraffic

hero member

Activity: 3038

Merit: 617

The difference is that Facebook has the shady past about privacy and plans it to be used in many countries while China kept their dirty secrets all the time for their own. Xi Jinping's coin are only meant to be used in China as far as I know so its just in their system alone not for everyone like their own fiat and very centralized too. Facebook coins is for all users and can open pandora's box if not controlled, the regulators hate Zuckerberg and its likely doomed to die.

Wintersoldier

sr. member

Activity: 966

Merit: 274

Quote from: zeze18 on October 29, 2019, 06:44:01 PM

Facebook is also easily launched libra but it's struggling with people acceptance because big investors still see cryptocurrency is a bubble.
China will easily launch a coin but we still don't know people acceptance, will the coins grow or people won't use it because it's regulated and controllable by the government.

Basically if China easily launch their coin, the main users will be Chinese as well. I hardly stand on believing that they will turn their fiats to cryptocurrency in the latter future. In terms of Libra coin, as soon as there will be a "thing" that will drive its market adoption, it can surely become widely accepted, plus, if facebook use their own platform to advertise it, more and more people will adopt to it and use it eventually.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

China does not have any problem releasing their own coin because they are a government, Facebook is a private company and governments are not going to allow a private company to try to break their monopoly.

Facebook is learning the hard way why bitcoin is decentralized, no one can stop bitcoin because there is no central authority and there are not some servers to confiscate to destroy the coin, at this rate it is difficult for me to believe Facebook will release its Libra coin at any point in the future.

blckhawk

sr. member

Activity: 1554

Merit: 334

The US Government hasn't release a statement yet of supporting blockchain as future means of payment, while on the other hand, China already did, and this isn't anything surprising. I could however have some worries when China's plan succeeded and all-out ban of anything related to other cryptocurrencies, including bitcoin, would happen. A large percentage of current mining pools are located there and it would take some time relocating to another country, and would possibly slow down transactions in the BTC network and also the hash rate.

p2pclub

jr. member

Activity: 77

Merit: 1

I don't think so. Because they were communist, that means they will try to protect their own money. So, you really think about 2 money in one country, really?

Take a look, why does he need to do that?

judeafante

sr. member

Activity: 2254

Merit: 258

Quote from: Ferris419 on October 29, 2019, 08:31:25 PM

I don't think China would launch their native token, we are just talking about possibilities, nothing more! Because I haven't seen any strong news about this case. But it's true that if China wants they can easily launch their token, and facebook's Libra has nothing to compare with China Coin! Because it's the government, who set the rules for people! But in Libra, they have to obey the regulations of congress! So, it won't be easy for facebook!

They already started their plan and they are motivated to create one if we based it in their announcement, it's a matter of finally confirming and laying up the framework which is just a matter of time, this should be fast because it comes from the head of state of China, there will be no opposition.

Nivia1st

full member

Activity: 821

Merit: 100

Volare.network

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

all this about jinping, some time ago he said blockchain is very important. and I think this is the beginning of opening crypto for mass adoption. but that's the only thing I know when China later issues its own coins, it's not a crypto because of the centralization. but despite all that one jinping I have begun to soften and pay attention to crypto.

takngantuk

full member

Activity: 1024

Merit: 100

yes you're right China is being supported by the government, maybe this is what distinguishes it from the Libra project. When Facebook was looking for support, China began developing crypto coins that would shake the world. but even so until now it seems that the country is still anti-bitcoin. this might be a dilemma for all of us. We hope there is a new season, but when there is hope. hope that's not good ...

SamboNZ

sr. member

Activity: 1064

Merit: 253

Quote from: Ferris419 on October 29, 2019, 08:31:25 PM

I don't think China would launch their native token, we are just talking about possibilities.

No you are just unaware and dont read previous replies. Its already confirmed the bank of China is already developing their digital yuan and it may launch soon. President Xi has stated that they will adopt this kind of technology in the finance.

Bitcoinjheta

full member

Activity: 798

Merit: 104

Quote from: zeze18 on October 29, 2019, 06:44:01 PM

Facebook is also easily launched libra but it's struggling with people acceptance because big investors still see cryptocurrency is a bubble.
China will easily launch a coin but we still don't know people acceptance, will the coins grow or people won't use it because it's regulated and controllable by the government.

China can easily launch there coin because they know what is best for there people who loves doing crypto. And i believe these are widely accepted and supported by Chinese people for the benefits of there country as well even if other countries will not but still they can have manage it well.

Ferris419

hero member

Activity: 1008

Merit: 501

I don't think China would launch their native token, we are just talking about possibilities, nothing more! Because I haven't seen any strong news about this case. But it's true that if China wants they can easily launch their token, and facebook's Libra has nothing to compare with China Coin! Because it's the government, who set the rules for people! But in Libra, they have to obey the regulations of congress! So, it won't be easy for facebook!

cryptothreads

hero member

Activity: 1274

Merit: 500

Quote from: zeze18 on October 29, 2019, 06:44:01 PM

Facebook is also easily launched libra but it's struggling with people acceptance because big investors still see cryptocurrency is a bubble.
China will easily launch a coin but we still don't know people acceptance, will the coins grow or people won't use it because it's regulated and controllable by the government.

In my opinion, China will be easier to succeed in this matter because this is a big country and does not depend much on other countries so the issuance of coins will be very good for the development of this country. There are not too many people who object to this proposal and will soon be officially informed. I think Libra of Facebook will never appear because this project is under US government control so the success rate will be very low.

Of course, any country wants to do this but if your country depends on many other countries, coin issuance will never happen.

efxtrader

full member

Activity: 924

Merit: 100

GoMeat - Digitalizing Meat Stores - ICO

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Difficulties faced by Facebook in launching Libra are different from the regulations and political systems implemented by the Chinese Government. The Chinese political system adheres to and is subject to the President because the communist system is used while the US Government considers more regulations that have been made.

zeze18

sr. member

Activity: 938

Merit: 256

Facebook is also easily launched libra but it's struggling with people acceptance because big investors still see cryptocurrency is a bubble.
China will easily launch a coin but we still don't know people acceptance, will the coins grow or people won't use it because it's regulated and controllable by the government.

desticy

sr. member

Activity: 1512

Merit: 292

www.cd3d.app

I think that at the moment we are dealing with blah blah blah. In the current situation, you can say anything, but trust only makes sense to action.
Now we just do not see them. We are witnesses to the information war in the digital race, which in the future is likely to bring digital assets to a completely new level.
But now, I would filter any incoming information in double.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Of course. China's potential crypto project has the backing of a government, while Libra is the opposite of that - the FED, the SEC, and a bunch of regulatories agencies are all of their tails for trying to launch their token.

These inherent structural differences between the two projects are what is causing this.

But either way, both cryptos will not be decentralised which is why this news doesn't really interest me at all.

kawetsriyanto

legendary

Activity: 2226

Merit: 1086

duelbits.com

The influence of powerful people is indeed very large in the world of crypto. As happened to Libra coin that faces big and heavy problems related to decisions and statements of superpowers regarding these coins.

And now about the coins to be worked on by China, the chances of success will be higher because they are supported by people who are very influential in the country.

And could this possibly affect the ICOs which had been banned in the country?

NewRanger

sr. member

Activity: 1624

Merit: 341

Buzz App - Spin wheel, farm rewards

Quote from: knuckey on October 29, 2019, 05:56:55 PM

That's right and this is very different, where facebook stopped because of regulations that do not allow to launch libra. We cannot compare it to China, where their own power holders or Presidents have expressed interest in the blockchain and maybe the crypto industry, so there is no longer an obstacle and they are ready to create, develop cryptos as they wish, whenever they want.

that's differentiate facebook and china.libra just a coins that builded from giant company and it could stopped by local policy, meanwhile DCEP created by china that has super power in any field in the world.they could do anything they want.if any company or community that against china, it could be make sure crypto currency market will crash again.and when china launched their own coin, it show thie interest at crypo developtment.

Dreamr

member

Activity: 263

Merit: 10

China could easily launch Chinacoin while Facebook is getting a kick in the butt by congress.
I think China saw the potential in blockchain and cryptocurrency that is when they are considering the blockchain technology.
We all know U.S Dollar is the major currency in the trading world and with the current trade war between China & U.S - China is losing that is why'll introduce new Chinacoin - lol! Sorry, this is just my assumption.

knuckey

sr. member

Activity: 1260

Merit: 251

That's right and this is very different, where facebook stopped because of regulations that do not allow to launch libra. We cannot compare it to China, where their own power holders or Presidents have expressed interest in the blockchain and maybe the crypto industry, so there is no longer an obstacle and they are ready to create, develop cryptos as they wish, whenever they want.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Yeah, obviously it has the backing of it's President that's why China coin could be easily created without any backlash for now. But I guess the question is, what are the real plans of China here, will it be domestically used or will they have a plans similar to Facebook in the future? Are they going to challenge $$$ for being the most dominant currency in the world market?

SamboNZ

sr. member

Activity: 1064

Merit: 253

China doesnt have any regulation issues because the state made it meanwhile for Libra its runned by a private entity there would be issues in tracking their financial transactions and can make free money out of thin air that is why it will be a problem for the government.

stephanirain

sr. member

Activity: 756

Merit: 257

Freshdice.com

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

China has bigger scope in terms of power and influence in the market than Facebook. The country has that kind of reputation as a sleeping dragon that is slowly awakes. Facebook had looked like just a regular ICO for me because I didn't feel that their project will be relevant to the market. If Facebook is mainly a online shopping platform, maybe their project might get more interest.

rodel caling

full member

Activity: 952

Merit: 104

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Actually the different of that two coins is the government support its obvious china coin is supported by the government under central bank of china so nothing possible that coin fast to become expensive.
Libra coun is also a potential coin become expensive we all know that because the devs of that project is thhe most popular social media worldwide, but the proble is US need support form the US givernment to apprive this project to lunch the project.

BlackFor3st

hero member

Activity: 1932

Merit: 506

Betking.io - Best Bitcoin Casino

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Yeah your right, China is free to do what they want unlike Libra that they need the approval of US first before they can launch which is the disadvantage of Libra.

There is a big possibility that Libra can't be launch compared to China currency that they can launch it anytime especially that it is being backed by Xi Jinping and China's Central bank. I would like to see how it will proceeds in the future whether this two will become rival or Libra will dead before it can launch.

Pearls Before Swine

sr. member

Activity: 1190

Merit: 306

Quote from: avikz on October 29, 2019, 03:06:02 PM

But when it comes to a third party, it requires a lot of licenses and compliances to be followed. So these two types of coins can't really be compared with each other!

Exactly, but I don't think a lot of people start threads after doing a lot of thinking about these things. Seems pretty obvious to me. Gov'ts, all of them, are in charge of their countries' monetary system, not private corporations. Facebook trying to create a crypto (and a stable coin at that) is something very new, something that gov'ts haven't encountered before, which is why Libra is getting so much scrutiny.

China probably wants to discourage its citizens from using bitcoin, because it poses a threat to its communist system. That's the only reason I can think of as to why they would want to create their own coin. Regardless, any crypto created by a gov't is going to be a piece of centralized crap. Mark my words.

Hippocrypto

sr. member

Activity: 1484

Merit: 277

Quote from: robelneo on October 29, 2019, 11:20:09 AM

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

On that point where China's currency is certainly constrained by their central bank, I think it was possible to launch their own coin sooner. Unlike with libra's ongoing debate for their own crypto, which was not having positive outlook from their own government.
Good thing about China, President's will was to support cryptocurrency as his words stated the desire on implementing blockchain to their government financial economy.

livingfree

hero member

Activity: 2884

Merit: 579

Hire Bitcointalk Camp. Manager @ r7promotions.com

It's the government of China so there will be no problem if they will ever launch their own coin. But, I don't see that coin to be a good preference for the Chinese people, for some reasons they will be forced to use and support it.

And the other thought that I have on my mind is impossible to happen that facebook can relocate somewhere and continue this project. China's decision about crypto and blockchain is changing and hard to read.

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

Not an apple to apple to compare facebook's cases to China. Even I've never heard China is going to launch their own coin anyway all that is spoken by Xi Jinping is just accelerating the use of blockchain doesn't necessarily saying that China will release their own crypto coin.
What become facebook's problem is that it is a private company trying to issue a currency by their own and could possibly challenge the dominance of USD in the US and worlds. ofcourse the government wil try all they can to stop such a thing from happening they want an absolute control over literally everything.

TRONTON

sr. member

Activity: 868

Merit: 252

The PBOC has been researching this since 2014 even though they opposed the cryptocurrency before. I see China preparing itself to be more complete, especially when Japan is very confident with MUFG's launch.

With DCEP, China will develop wider potential and plan Alipay etc. to use this currency compulsorily, they want to focus nationally. So if this is related to libra, then xinping has the right momentum for global publications, because they prepare this for a long time and don't even connect with libra at all.

avikz

legendary

Activity: 3080

Merit: 1500

If a government wants to make their own digital money, who is going to stop them? It's their own choice whether to pursue this matter or not!

But when it comes to a third party, it requires a lot of licenses and compliances to be followed. So these two types of coins can't really be compared with each other! China's digital money is mainly being created for their own people while Facebook is trying to create a global ecosystem!

There are 195 countries in the world. Each of them are different and has different economy structure and challenges. You can understand the kind of pain is faced by the legal council of Facebook!

robelneo

legendary

Activity: 3416

Merit: 1225

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Topic: China can easily launch a coin while Facebook is having a hard time (Read 659 times)