China's Central Bank planning Fraud coin - page 2.

Saint-loup

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Quote from: fiulpro on August 12, 2019, 08:23:20 AM

U don't seriously think that any coin that the government plans is going for the benefit of people , if you think that then it is completely ignorant , Government is always manipulative and whatever they do .. the think about their own country first , not the individual investors.
This is exactly what we should expect from China ... Whatever coin they are planning to launch , we should be beware of it ever coming in our way .
They might even breach our privacy .. no one knows .

In fact I think it's better for people to use a state crypto currency than using banks. At least with crypto currencies they are their own bank, and they don't need to trust and depend on some commercial and financial establishments. Bankers can start to cry, if it's not bitcoin, it will be another crypto currency, but the end of their world is approaching.

NeuroticFish

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Quote from: fiulpro on August 12, 2019, 08:23:20 AM

They might even breach our privacy .. no one knows .

They can do whatever they want, since Bitcoin-like coins are not as fungible as the paper money. That's from tracking to blacklisting certain money and other things we didn't think of yet.
They can issue the money without the costs of the banks.
Of course they can play the value of the coin as they want, since it's theirs and it's not backed.

fiulpro

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U don't seriously think that any coin that the government plans is going for the benefit of people , if you think that then it is completely ignorant , Government is always manipulative and whatever they do .. the think about their own country first , not the individual investors.
This is exactly what we should expect from China ... Whatever coin they are planning to launch , we should be beware of it ever coming in our way .
They might even breach our privacy .. no one knows .

Jating

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Quote from: bitsurfer2014 on August 12, 2019, 07:29:59 AM

I may not call it a Fraud coin since I understand that China did really understand the power of cryptocurrency and has obvious motives such as economic and political dominance and I think it will be their best weapon to topple down the mighty U.S. dollar being the number one international currency that has vast influence on almost all sectors of the society. In relation to China's aggressiveness right now on international affairs, I guess it will be one of their main tool to fulfill their ambition to become the worlds leading economy in the near future. Imho.

I think they really know what power it can bring to their people that is why they decided to make a u-turn against bitcoin in 2017. They don't want to give the control of people, and we all know that bitcoin gives financial freedom and as early as this time they want to stop it.

I read that since Libra or Facebook is thinking of releasing their own token, China immediately went back to the drawing board and wanted their state sponsored token to release the soonest. But so far, we haven't seen any state back up coins being successful, so let see how China will do with their own crypto.

bitsurfer2014

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I may not call it a Fraud coin since I understand that China did really understand the power of cryptocurrency and has obvious motives such as economic and political dominance and I think it will be their best weapon to topple down the mighty U.S. dollar being the number one international currency that has vast influence on almost all sectors of the society. In relation to China's aggressiveness right now on international affairs, I guess it will be one of their main tool to fulfill their ambition to become the worlds leading economy in the near future. Imho.

mk4

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Quote from: rdluffy on August 11, 2019, 08:40:19 AM

Oh, China again Grin

China bans BTC
China bans miners
China is thinking to use BTC
China is lauching a coin
China....

This soap opera never ends, I'm tired of see this China news, it's so confusing, and with this comercial "war" against US will be very bad to everyone

I mean, what do you expect from China. It's pretty obvious what they want. They realized they can't control bitcoin, so they launch a coin whereas they can have total control of. They want total control over everything, next thing you know they want to control the period schedules of their women.

avikz

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Quote from: Bitcoinpro on January 22, 2016, 05:47:47 AM

until I see some evidence otherwise, there is a long history of

Fraud in the Cryptocurrency scene and its mildy safe to

assume Cheesy

the Chinese central bank is planning a Fraud coin

http://money.cnn.com/2016/01/21/technology/china-digital-currency/index.html?iid=hp-stack-dom

Add India to the list as well. Because India has drafted a bill to ban crypto assets in India and paved the way for Indian Central Bank to create a digital version of its native currency called "Digital Rupee". It is the mindset of the orthodox and fascist governments worldwide. They don't want their people to enjoy the benefits of cryptocurrency and have additional channels to earn money to live a comfortable life. What they want is "Absolute governance"!

News reference: https://news.bitcoin.com/complete-indian-cryptocurrency-draft-bill-leaked-experts/

Sadly, as a common person, we will have to face the wrath of government if we don't follow the rules!

rdluffy

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Oh, China again Grin

China bans BTC
China bans miners
China is thinking to use BTC
China is lauching a coin
China....

This soap opera never ends, I'm tired of see this China news, it's so confusing, and with this comercial "war" against US will be very bad to everyone

Saint-loup

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Activity: 2604

Merit: 2353

Quote from: Bitcoinpro on January 22, 2016, 05:47:47 AM

until I see some evidence otherwise, there is a long history of

Fraud in the Cryptocurrency scene and its mildy safe to

assume Cheesy

the Chinese central bank is planning a Fraud coin

http://money.cnn.com/2016/01/21/technology/china-digital-currency/index.html?iid=hp-stack-dom

It seems they are ready to launch it now

China’s central bank digital currency is “ready” after 5 years of development

A senior official at China's central bank announced at the China Finance 40 Group meeting today that the country will soon roll out its central bank digital currency (CBDC.)

Mu Changchun, Deputy Chief in the Payment and Settlement Division of the People’s Bank of China (PBOC,) stated that the CBDC prototype exists and the PBOC's Digital Money Research Group has already fully adopted the blockchain architecture for the currency. China's CBDC will not rely entirely on a pure blockchain architecture, as this would not allow the currency to achieve the throughput required for retail usage.

According to Changchun, the currency has been in the research and development phase since 2014. At the meeting on Saturday, he said, "People's Bank digital currency can now be said to be ready."

The CBDC will employ a two-tier operational structure, per Changchun:

"The People’s Bank of China is the upper level and the commercial banks are the second level. This dual delivery system is suitable for our national conditions. It can use existing resources to mobilize the enthusiasm of commercial banks and smoothly improve the acceptance of digital currency."

https://www.theblockcrypto.com/tiny/chinas-central-bank-digital-currency-is-ready-after-5-years-of-development/

Bitcoinpro

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until I see some evidence otherwise, there is a long history of

Fraud in the Cryptocurrency scene and its mildy safe to

assume Cheesy

the Chinese central bank is planning a Fraud coin

http://money.cnn.com/2016/01/21/technology/china-digital-currency/index.html?iid=hp-stack-dom

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