China Government Cryptocurrency | Bitcointalksearch.org

BeManga

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

in my opinion, it will be a good thing for bitcoin
if one country will launch its own crypto it will make more people aware of crypto
not everyone will support it but at least if needed we will still use it
other country is just waiting for one country to try and support cryptocurrency and if it becomes successful i think other countries will follow
if this will happen many countries will have their own cryptocurrency and bitcoin will be the main crypto that will be the start of mainstream

Eternad

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Quote from: VeeTeaSee on January 16, 2020, 05:14:32 PM

im really afraid of this kind of moves, since there is a probability of 50% 50% that it will be interopable with other cryptos or people will be forced to move their wealth from crypto to the centralized coin...

Maybe that's the plan, as their government want to monitor their assets to put taxes on them. And since we know how business minded they are. They will not allow that their earnings will gained other countries more than their own. It's a chance to monitor their peoples wealth.

LuciferMorningstar

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Totally expected from China. Well, they have used alipay wallet in their daily life, snap the qrcode and done with the transaction. Chinese citizen sure doesn't have any problem when adopted a government-backed cryptocurrency since its nearly identical to alipay.

jazmuzika217

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All we know that China is very competitive in terms of any business that they want to enter. So I am excited what feature that they add to make their own crypto attractive to the eyes of crypto investor and users and I think it will be a good competition between their new built crypto versus to long live and most popular crypto here in crypto world which is bitcoin.

nicolas1979

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China always take part in all economy world activity, first place with cheap product is their strategy. This country try get monopoly and avoid bitcoin as their coin competitor, so far already happen and success in industry market. The bad impact for bitcoin is losing price and volume, but for crypto user it will more harder because new coin always control by developer it self, there's no free anymore. Other country will release their own coin to against China monopoly and it will create not healthy market for us.

Teraboy

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Quote from: asyakashi on January 16, 2020, 07:33:56 PM

China is serious about developing a blockchain business. besides that china also cooperates with big companies like alibaba and tencent of course they really want to be the most crypto-friendly country.
worth waiting for crypto in 2020.

It caused by they must lead other countries in term of technology. As far as i know, this has already planned by china to adopt any technology that slowly becomes familiar in our community. Remember about the economic 5.0 and in this case technology will be put at the top of everything as it will bring more efficiency and effectivity. A lot of companies in china have already aimed that and they have started to put their money into the development of the blockchain too. This is a really potential field to get a lot of advantage from there. Multi-billion can be saved in various sectors when a lot of traditional systems will be changed with the blockchain.

RealMalatesta

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I am not entirely sure how they will do it tho, not in the developer sense of the word because they have amazing developers there, they literally keep attacking the whole world and manage to hack many places so I doubt they have any lack of developers. No what I mean is, crypto takes power away from the powerful and shares it with everyone, it is truly democratic and that is why it would be very weird for a country like China who actually ends up killing anyone who opposes the current regime, I doubt they can ever be truly democratic as long as CCP is there and that means having a stablecoin would be very difficult for them.

Will they actually check what people are doing with that money? Will they put trackers on every movement? I mean how can they hope to stay a dictatorship AND have stablecoins at the same time?

killerfrost

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Quote from: HabiebRiziq on January 17, 2020, 11:33:27 AM

Quote from: karanggatak on January 16, 2020, 09:56:32 PM

actually I am still confused whether this Chinese cryptocurrency will have a positive or negative impact on bitcoin and altcoin. because until now Chinese cryptocurrency has not been released. I think we have to wait until this crypto is released.
and in my opinion if this Chinese crypto is only focused as a means of payment then I don't think this will have a big impact on the crypto and bitcoin markets.

For me personally it might only have a slight effect on cryptocurrency maybe only a few coin prices have risen and even then not in large numbers because we know China will release its own Chinese cryptocurrency and be different unlike bitcoin and some other coins here. For me personally it might only have a small impact when China released it and I think the impact that will result is a positive impact.

I think the opposite, It will have a strong impact on this market. Remember in 2019 when the Chinese president announced that they would develop blockchain and create a cryptocurrency for their own country, and the bitcoin price immediately went up to $ 10,000 in just a few days. I am really looking forward to the arrival of the Chinese cryptocurrency, it will surely push this market to new heights.

aioc

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

It will going to influence in some way, and if their coin will be traded in the top exchange, then it's a possibility this could be the way for some people to get acquainted with Crytocurrency, imagine telling people who do not know about Cryptocurrency, that China have their own Cryptocurrency, it will evoke curiosity.

HabiebRiziq

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Quote from: karanggatak on January 16, 2020, 09:56:32 PM

actually I am still confused whether this Chinese cryptocurrency will have a positive or negative impact on bitcoin and altcoin. because until now Chinese cryptocurrency has not been released. I think we have to wait until this crypto is released.
and in my opinion if this Chinese crypto is only focused as a means of payment then I don't think this will have a big impact on the crypto and bitcoin markets.

For me personally it might only have a slight effect on cryptocurrency maybe only a few coin prices have risen and even then not in large numbers because we know China will release its own Chinese cryptocurrency and be different unlike bitcoin and some other coins here. For me personally it might only have a small impact when China released it and I think the impact that will result is a positive impact.

huu78

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Depending on their project like what this is, is not China already launched their currency named DCEP yesterday and it was held by the Chinese government. Their community is said to be banned from using digital currency unless made in government. Do not know exactly which news is right, I just hope the existence of massive adoption of a country can make the growth of cryptocurrency and blockchain become more advanced and many legality support in different parts of the world.

Soots

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Quote from: Wildwest on January 17, 2020, 12:06:28 AM

This is good news for us crypto users and this moment is very awaited many people and will be sure to follow a trail like China country, let alone China is a very high population of society that can affect the crypto market Very quickly, for now the development of Crypto in China is very good so it's natural if they want to create their own crypto and later if this plan will run then the Chinese government will benefit of course.

If China's own cryptocurrency will completely launched on their country, I believed it has a bigger factor that affects btc's transaction to increase. The possibility of demand to rise and generate more holders, and due to higher number of China's population more traders will have daily trading activities. Economy of crypto will start to grow independently, and it could attract the neighboring countries to also allow cryptocurrency on their financial system.

Wildwest

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This is good news for us crypto users and this moment is very awaited many people and will be sure to follow a trail like China country, let alone China is a very high population of society that can affect the crypto market Very quickly, for now the development of Crypto in China is very good so it's natural if they want to create their own crypto and later if this plan will run then the Chinese government will benefit of course.

TastyChillySauce00

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Quote from: karanggatak on January 16, 2020, 09:56:32 PM

actually I am still confused whether this Chinese cryptocurrency will have a positive or negative impact on bitcoin and altcoin. because until now Chinese cryptocurrency has not been released. I think we have to wait until this crypto is released.
and in my opinion if this Chinese crypto is only focused as a means of payment then I don't think this will have a big impact on the crypto and bitcoin markets.

I think it won't give a big impact to bitcoin or alts simply because this coin will be created for their own country and I'm doubtful that people outside their country will be able to use it. How the government opposes decentralized crypto and instead making their own currency is sort of isolating their own crypto to avoid competition against other existing crypto and to secure their economy. If the coin that's going to be released is going to that direction, the whole crypto market outside china will be left untouched.

fortunecrypto

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

This is going to be part of the major events this year, Bitcoin halving, Facebook launching their Libra coin and now China doing the same, I think this is going to be huge this year 3 events that are enough to push the price much higher than we had before we enter 2020.

Aabcde

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Quote from: deathcode on January 15, 2020, 11:36:33 PM

Quote from: Aabcde on January 15, 2020, 11:28:53 PM

Actually it is good for a country to make its own crypto. Aside from making it easier to save money in the future, you don't need to bother paying with your ordinary wallet.
I came to think, if DCEP can be owned by anyone other than in China, maybe later DCEP can gradually control the world economy? We know that China is actively becoming a leader in all aspects.

but it requires adjustments that may take a long time for everyone in the country to use crypto and begin to leave fiat. indeed the benefits are also great, and banks of a country will be greatly helped by the existence of this technology. but the success of a country's crypto is how it is used by all people.

Yes it certainly takes time for its own adoption. But eventually it will be evenly distributed in this regard.

Quote from: electronicash on January 16, 2020, 04:24:57 PM

majority of the places in the mainland as far as i know is already cashless. people in china are using phones to but things they need at home. the beggars in china are even using alipay to accept few change from passersby - and i'm not kidding i saw this on facebook video.

digital currency and cryptocurrency will likely go together in china after all they do have exchanges there. confusing as they are that btc is banned, people are into BTC.

Wow, this is a very surprising fact. It means that clearly the Chinese people are ready for cashless. It looks like this won't take a long time for adoption when DCEP comes out later.

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Quote from: inoes on January 16, 2020, 07:49:05 PM

If a cryptocurrency will be adopted by a country, a question that often arises in my mind whether it will still be decentralized? we can see Xrp adopted by banks, Libra adopted by FB has a tendency to centralize. Important points here are the level of trust and anti-manipulation sought

I know that China has adopted blockchain technology but they don't use cryptocurrency like bitcoin or other coins, they only use blockchain technology to be used in various kinds of development that China wants to do, it can be said that their project is combined with blockchain technology which aims to provide solutions for many people.

karanggatak

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actually I am still confused whether this Chinese cryptocurrency will have a positive or negative impact on bitcoin and altcoin. because until now Chinese cryptocurrency has not been released. I think we have to wait until this crypto is released.
and in my opinion if this Chinese crypto is only focused as a means of payment then I don't think this will have a big impact on the crypto and bitcoin markets.

fuer44

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for the crypto market as a whole, I think there is no big impact on the market charts. because we know, that centralized coins will be difficult to get more attention even though it is supported by large companies or banks, just call it like a ripple case. but on the other hand, for China itself this is a new breakthrough in their finances, where they have a fiat in the digital itself. this is good for the adoption of the next crypto adoption, I strongly support this.

inoes

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If a cryptocurrency will be adopted by a country, a question that often arises in my mind whether it will still be decentralized? we can see Xrp adopted by banks, Libra adopted by FB has a tendency to centralize. Important points here are the level of trust and anti-manipulation sought

asyakashi

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China is serious about developing a blockchain business. besides that china also cooperates with big companies like alibaba and tencent of course they really want to be the most crypto-friendly country.
worth waiting for crypto in 2020.

VeeTeaSee

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im really afraid of this kind of moves, since there is a probability of 50% 50% that it will be interopable with other cryptos or people will be forced to move their wealth from crypto to the centralized coin...

batang_bitcoin

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If they will create pairs with bitcoin or any other altcoin there will be an influence on it. But if the main purchase will only go with Chinese Yuan to Digital Chinese Yuan, I don't think that there will be an effect from it. Because we all know that it's just going to be digitalized money from them and making it look like crypto so that people will also adopt it. The digital payments were already adopted on China with Alipay and other known payments so this could be an upgrade for them.

electronicash

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Quote from: deathcode on January 15, 2020, 11:36:33 PM

Quote from: Aabcde on January 15, 2020, 11:28:53 PM

Actually it is good for a country to make its own crypto. Aside from making it easier to save money in the future, you don't need to bother paying with your ordinary wallet.
I came to think, if DCEP can be owned by anyone other than in China, maybe later DCEP can gradually control the world economy? We know that China is actively becoming a leader in all aspects.

but it requires adjustments that may take a long time for everyone in the country to use crypto and begin to leave fiat. indeed the benefits are also great, and banks of a country will be greatly helped by the existence of this technology. but the success of a country's crypto is how it is used by all people.

majority of the places in the mainland as far as i know is already cashless. people in china are using phones to but things they need at home. the beggars in china are even using alipay to accept few change from passersby - and i'm not kidding i saw this on facebook video.

digital currency and cryptocurrency will likely go together in china after all they do have exchanges there. confusing as they are that btc is banned, people are into BTC.

Febo

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralised and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

Yup this and Libra is what most people are most interested in to see this year. Of course there will not bee seen much invocations. But still there is an anticipation.

Obito

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Quote from: Yaunfitda on January 15, 2020, 11:45:13 PM

Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

I think it will be like a stable coin, (correct me if I'm wrong), so it will be completely competing with other stable coins or Libra, if they are going to release it this year.

The most closes conclusion yet I am not certain if it will be a stable coin by any chance. Having 4 major companies involved does sound a great deal out there. I think it is going to be a big shot by China having not just a big but a real deal companies. Anyway it is still long way to go to be in effect, and we will see if it would work efficiently.

cryp24x

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Eventhough there are so many people who thinks that Cryptocurreny in China is not that good thing. I think we should focus on what Cryptocurrency can do to China and make them more powerful. That way, more people will open their mind and hearts that Crypto will help them in many ways.

semobo

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

If they got success with adoption the more countries will likely follow this but most countries will not get success in the adoption as long as they are democratic.

Will have no effect on the decentralized market!

romero121

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These steps forward by the Chinese government to have their own cryptocurrency supported by leading business firms will surely have a positive impact on the crypto market. It is believed that the usage of bitcoin and other cryptocurrencies from China will gets lowered, but it won't happen. People always will have the State backed cryptocurrencies an alternate to bitcoin, which will not affect the market circulation of Bitcoin.

oktana

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from what I read they will continue to concentrate on the payment media through the official application, so that their use is only for direct payments electronically and lock other options.

Although they use blockchain technology, that does not mean that their coins will be focused on trading on common crypto exchanges, it will not have a real impact on the crypto market, except for rumors of news developments regarding the use of their technology.

nutriagrigia

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if they will do this it will be very good. Many people will understand that there is nothing wrong with cryptocurrency and they should not be afraid to invest. most likely for some time, the appearance of such a cryptocurrency will dump prices for bitcoin and other altcoins, but after a few years people will realize that centralized coins are dangerous and they will all start buying bitcoin

Pinkris128

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

It's true that China government started to create their own cryptocurrency like facebook's libra coin because started to adopt blockchain technology in their country, but they still banned bitcoin mining in their country. China's coin will also be centralized and i think only people in china can only use their own crypto.

Xie89

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Quote from: NathanJB on January 15, 2020, 11:42:57 PM

Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

This will only be a bad name in cryptocurrency. This will change the connotation of cryptocurrency. In the past, cryptocurrency is almost taken as equal to decentralization, transparency, freedom, etc. This crypto by china will be anything but those mentioned features. Let the chinese people decide which is better to use, although it is really difficult for them to choose as they are inside an authoritarian country.

This! Thanks for being one of the persons actually thinking about this instead of only thinking in terms what it means to crypto alone..

Amel

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Quote from: slaman29 on January 16, 2020, 05:43:05 AM

Guys, remember this is just a digital version of their national currency, just like a lot of countries already have. The ONLY thing that makes it crypto is that it is probably using some form of blockchain technology, therefore, cryptography using a blockchain method.

It doesn't make it anything like Bitcoin or other alts!

Yeah, I know that, the adoption is more like technology owned by bitcoin, not the system that is run by bitcoin. But in my opinion this is also quite good for a country in the future development of technology, especially in the financial sector. Although maybe most crypto fans are disappointed with this because it's not decentralized, but we also need to respect that a country also has the right to develop its technology because I'm an IT expert myself.

My view as an IT, this is very good in the development of currency technology in the future, I hope this can be developed throughout the country. Currency now needs more modern development.

barabarian1

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I don't think cryptocurrency made by the Chinese government will have too much impact on the crypto market. because crypto cryptocurrrency made by this government will definitely be fully controlled by the Chinese government. but of course the presence of Chinese cryptocurrency will make the crypto market more crowded because we know that China is the country with the largest population in the world.

slaman29

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Guys, remember this is just a digital version of their national currency, just like a lot of countries already have. The ONLY thing that makes it crypto is that it is probably using some form of blockchain technology, therefore, cryptography using a blockchain method.

It doesn't make it anything like Bitcoin or other alts!

Jpt

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I think China is becoming flexible towards cryptocurrency and blockchain of late. Reports say that China is planning to issue its own digital currency. If the report is to be believed, the level of mass adoption of cryptocurrency is widening. So I believe cryptocurrency will be widely accepted across the globe gradually.

Xcode7

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

The worst possibility is when one day China monopolizes cryptocurrency. I think we should examine very well the intentions and objectives of the Chinese government to do this, which is feared the effects of what China is doing have a negative impact on cryptocurrency, and if it has an impact on cryptocurrency then it will also affect us all.

Ethereums

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I remember it called digital YUAN when it launched it will take AliPay and another payment processor as their partnership for media grab attention.
Soon paper cash will be replaced in China may be, since the president known as person who taking great movement on technology such as blockchain.
As far as I remember many exchanges been hunting down there and this movement could be a sign that gov want to rule it out.
But speak of freedom it will be none if this applied since they will be monitored it heavily I presume.

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Quote from: Furious 7 on January 16, 2020, 01:55:14 AM

I think it's good news that the Chinese government will launch its own digital currency with the adoption of blockhchain.
If this affects the price in the crypto market it will be better as long as the Chinese government does not control its entire cryptocurrency because global crypto has its own way so that this can also be influenced by the Chinese digital currency itself.
If it involves large banks and online stores in China, it will be easy for many people to shop and shop there.

They are believers of the famous motto - if you can't beat them, join them. Remember, at one time, they banned the use of crypto, but no matter what strict regulations they have, they won't fully control the use of crypto. So they realize that maybe just ride the crypto revolution, at least have a control of its usage if they will create their own digital coin aside from the other benefits that they can get from its utilization.

mahilchii

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This is really a great news for the crypto users as China government has new plans for it's country. But the thing is could this impact other sources??? Undoubtedly China is a biggest economy in the world when it comes to trading therefore this new crypto might be a impact in my opinion. Finally there is a new competitor in the market is good to hear, let's wait and see how it works.

piebeyb

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I guarantee their cryptocurrency project will succeed, because I know that the Chinese population is very large so that adoption will also be quite large, but only in China, not in other countries, because it will not be famous out there except bitcoin and other crypto currencies in the whole world is not focused on adopting just one country, but we don't know if they will change their mind and start adopting bitcoin and other cryptocurrency clearly we will support it, I'm still a little sure the launch of their crypto currency will have a positive impact on the currency Other crypto includes bitcoin

tranduong123

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China's creation of its own cryptocurrency will undoubtedly motivate other countries to do the same, especially the United States. I think it will only be a matter of time before the United States introduces a private cryptocurrency

JeotQ

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When this china coin goes live this year i bet binance will be one of the first exchange to add the digital currency as pair on it's exchange, these coins will only make more people be aware of crypto coins and it's no threat to other coins since it's a stable coin

Furious 7

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I think it's good news that the Chinese government will launch its own digital currency with the adoption of blockhchain.
If this affects the price in the crypto market it will be better as long as the Chinese government does not control its entire cryptocurrency because global crypto has its own way so that this can also be influenced by the Chinese digital currency itself.
If it involves large banks and online stores in China, it will be easy for many people to shop and shop there.

Dpat

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The China Govt. already banned the cryptocurrency in the last year after making through examination. But, still there are some legit coin like the Bitcoin, Ripple, Ethereum are transacted. But, as the China market the biggest one banned the crypto so the effect is fall in whole crypto market in the world.

bitvalak

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That will not weaken the main cryptocurrency. They only use crypto technology to create their own digital currencies, not to intervene against bitcoin and other altcoins.
Because they know that cryptocurrency is very easy to be adopted with the current high demand. Alipay and Tencent will certainly provide a good surprise because they also run in the technology sector and marketplace.

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Quote from: Xie89 on January 15, 2020, 10:03:20 PM

I find it DEAD scary that a country like China (with their social credit system and total populace control) is the first one to implement a state crypto.

And a total opposite of what crypto stands for/should stand for.

Caused by that's a dictate country or what?

My take in the next digital yuan that will be created by china to be a counterbalance for crypto as crypto was also getting a very huge demand from the china.

Remember if that was on of bitcoin house too.

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Quote from: Yaunfitda on January 15, 2020, 11:45:13 PM

Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

I think it will be like a stable coin, (correct me if I'm wrong), so it will be completely competing with other stable coins or Libra, if they are going to release it this year.

But as far as influence to crypto? I'm not really sure about that, it could be, but I don't think it will have a drastic effect because it is a government back up, and crypto enthusiast hate that sort of thing. So for me, there will be no hype or after effect in the whole crypto sphere.

Libra is under government control, while crypto is not, but with the presence of Libra it will indeed be a stable coin, because it is controlled by the central government. we can see in the future what will happen with crypto in the presence of libra

Dickiy

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it is not impossible for China to do that because China is one of the biggest economies in the world and the Chinese cryptocurrency exchange is very good in my opinion one of them is HUOBI, if it is released on November 11 2020 it could be this is a halving happening on bitcoin

Bossfidelity

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

It's quite interesting and a commendable achievement for the nation. I have a positive feeling about the project and believe that it would contribute to increase awareness about the existence of cryptocurrency in the globe. I would love if the national cryptocurrency could be exchanged for Bitcoin and other cryptocurrencies.

Yaunfitda

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

I think it will be like a stable coin, (correct me if I'm wrong), so it will be completely competing with other stable coins or Libra, if they are going to release it this year.

But as far as influence to crypto? I'm not really sure about that, it could be, but I don't think it will have a drastic effect because it is a government back up, and crypto enthusiast hate that sort of thing. So for me, there will be no hype or after effect in the whole crypto sphere.

NathanJB

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Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

This will only be a bad name in cryptocurrency. This will change the connotation of cryptocurrency. In the past, cryptocurrency is almost taken as equal to decentralization, transparency, freedom, etc. This crypto by china will be anything but those mentioned features. Let the chinese people decide which is better to use, although it is really difficult for them to choose as they are inside an authoritarian country.

deathcode

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Eloncoin.org - Mars, here we come!

Quote from: Aabcde on January 15, 2020, 11:28:53 PM

Actually it is good for a country to make its own crypto. Aside from making it easier to save money in the future, you don't need to bother paying with your ordinary wallet.
I came to think, if DCEP can be owned by anyone other than in China, maybe later DCEP can gradually control the world economy? We know that China is actively becoming a leader in all aspects.

but it requires adjustments that may take a long time for everyone in the country to use crypto and begin to leave fiat. indeed the benefits are also great, and banks of a country will be greatly helped by the existence of this technology. but the success of a country's crypto is how it is used by all people.

Aabcde

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Actually it is good for a country to make its own crypto. Aside from making it easier to save money in the future, you don't need to bother paying with your ordinary wallet.
I came to think, if DCEP can be owned by anyone other than in China, maybe later DCEP can gradually control the world economy? We know that China is actively becoming a leader in all aspects.

djgtr

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Quote from: BlackFor3st on January 15, 2020, 10:42:42 PM

Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

It will be huge as China has the biggest number of population and even 50% of them will engage in crypto currencies then the market will surely be crowded. It will be the start of crypto currency world as I am sure that other countries will also do the same after the successful launch of China's crypto currency.

Even if it was controlled by their state what is more important right now is that we are currently moving forward to eliminating fiat in the near future. I am looking forward on how it can affect the market situation by this year.

For that idea about what's the effect of the market this year, that always a big questions for everybody. China is now a biggest economy particular of the business firms that they had, and with cryptocurrency; I think this is very influencial for the top demands in the future. Hopefully as their cryptocurrency be launched successful will provide a greatest impact on entire crypto market.

BlackFor3st

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Betking.io - Best Bitcoin Casino

Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

It will be huge as China has the biggest number of population and even 50% of them will engage in crypto currencies then the market will surely be crowded. It will be the start of crypto currency world as I am sure that other countries will also do the same after the successful launch of China's crypto currency.

Even if it was controlled by their state what is more important right now is that we are currently moving forward to eliminating fiat in the near future. I am looking forward on how it can affect the market situation by this year.

Xie89

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I find it DEAD scary that a country like China (with their social credit system and total populace control) is the first one to implement a state crypto.

And a total opposite of what crypto stands for/should stand for.

CjMapope

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~Full-Time Minter since 2016~

Quote from: casperBGD on January 15, 2020, 05:50:29 PM

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

This i think will be good news, i can see alot of countries waiting for SOMEONE to do this first so they can follow
i wonder: would it have a public chain/explorer? that would be SO cool, but i doubt it haha
It always made sense to me that a national currency would work well on a chain, i mean we are moving towards a cashless society anyways it seems so why not?
if China is all in, 2020 should be good for BTC price wise! it will be interesting to see with their technical bandwidth available what a COUNTRY can do with this tech :O

hello_good_sir

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It'll be interesting to see how Alipay and Wechat responds to this.

Right now, these two e-payment giants are dominating China's remittance market and I think it'll be very difficult to get citizens to adopt another national cryptocurrency even from a central bank point of view, simply because people are accustomed to dealing with the two companies aforementioned and cash usage is at an all time low.

Perhaps Tencent and Alibaba will be called to cooperate on the matter. Who knows.

casperBGD

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Nil Satis Nisi Optimum

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

Topic: China Government Cryptocurrency (Read 486 times)