Topic: Huawei Chinese version of Libra ? - page 3. (Read 758 times)
Are we looking at an era where every major organisation is looking to create their own cryptocurrency? First it was JP Morgan, then Facebook and now Huawei is threatning to do same? Why can't they just be like Samsung that just integrated a wallet into their devices without churning out their own cryptocurrency?
I don't think anyone should be surprise about this, this has been in the pipeline from China before Libra, him now saying this is just saying what we all know, for me I think what is preventing most of this Centralized projects from coming to light is because of transparency, you can verify the amount of Libra tokens created on blockchain,so the issue of printing money out the thin air is out of the equation
Was he talking about a coin issued by Huawei or issued by the Chinese government? I have read some headlines and it's not still clear to me the role that Huawei would play in the creation and control of that coin. In any case, if Libra is a bad idea, you can get an idea on how “good” that Chinese coin could be.
When I saw this update, I sensed competition which is crystal clear. These guys can't control Bitcoin for real hence the best option is to launch centralized coins with very high regulations. Well, it's not bad for crypto, it's a plus since everything boils down to enhancing mainstream adoption.
Instead of doing a coin like Libra, why not go the decentralised route and make a coin for the Chinese people that would be decentralised and stick to the fundamentals of blockchain technology? Seems those that has been fighting Cryptocurrencies are now searching for a way to undermine it.
China will surely develop its own currency, the problem is only when? I just wondered if they would loosen electronic money ban from last year.
in my opinion this is actually a very good thing for the crypto world, more and more large companies are competing to become the most prominent in the crypto world will make more people interested in the crypto world, especially companies as big as facebook and huawei, even this is only the beginning
Yes, it is true. they cannot control the price of bitcoin which is still very far above the cloud. maybe according to them Libra is another way to be able to make their digital coins into the crypto market. and of course with a fairly low price for them to be able to put down their investment money. hope that later when Libra can be as popular as BTC the price they invest can benefit. we just look like Facebook that also uses libra for their digital money.
They want to do it because they are greedy and wanted to make more money out of the crypto market. They know that having their own token, they will have total control. That's why many crypto enthusiast are shunning away from Libra.
As far as the Chinese version, I think it wouldn't gain that much traction. Probably in their country, but outside the sphere, this will be just another shitcoin, IMHO.
You are right but I bet if China have their own version of Libra China people will embrace it,we know how big the Asian continent embrace crypto right? As far as the Chinese version, I think it wouldn't gain that much traction. Probably in their country, but outside the sphere, this will be just another shitcoin, IMHO.
I am not at all surprised by this decision. Since Huawei is currently in conflict with the US government and the US is putting direct pressure on Facebook to prevent Libra from appearing, it’s logical that Huawei will try to release a similar coin in order to have its trump cards in the trade war with the US government. The planned appearance of Libra has caused a great interest and a strong reaction all over the world, so the Chinese business will not miss its chance for profit. They copy everything that can be profitable.
I agree, the American feud with Huawei dragged on to many things and this was interfered with by the Chinese government. I read a number of articles that China announced it would make its own cryptocurrency after Facebook began to seriously make Libra Coin.
I think this is good because with more and more news about cryptocurrency, it makes people want to invest in the crypto market and can make the crypto market attractive again like 2017
I guess it would make a lot of sense for them to create something similar to Libra. It would at least open the crypto world to them even if it is just a stablecoin and it would involve blockchain as well. They are 1+ billion country with the largest economy in the world, having them support crypto would make the price go insanely high and the adoption rate would go up too. Right now they are not supportive of bitcoin and crypto and with something like Chinese libra they could at least see the potential of what could crypto do and how it could help the economy and maybe that would soften the ideas of Chinese government to crypto once again.
If that happens then we would be actually seeing some improvements there. They banned it because Chinese people started to fund ICO's with their money which meant money going out of china, but if they find a way that makes money go into china they will surely support it.
If that happens then we would be actually seeing some improvements there. They banned it because Chinese people started to fund ICO's with their money which meant money going out of china, but if they find a way that makes money go into china they will surely support it.
I don't understand the purpose of such a thing. With Wechat and so on they already have near complete control of everyone's finances. No one outside China will want to use it or accept it anyway. Seems like thoughtless bandwagon jumping.
I don't think the Chinese government has complete control over the finances of people using WeChat. It's a service operated and controlled by a corporate entity. China can only ask them to hand them over data or perform certain actions.I'm sure they no longer want to depend on corporations with their own agenda and therefore create their own version of Libra where that they do actually control every aspect of.
There are enough conspiracy theories where the Chinese government has control over every tech giant there, but I'm not buying these theories. Doesn't mean some might not be, but people like to trash talk everything related to China. I prefer to remain a bit more neutral.
I don't mind more Libra-like currencies. Everything that's centralized will eventually be replaced by something better, which is where crypto stands out with Bitcoin and to some degree Ethereum.
Most newbies that enter crypto are confident that the shitcoin they invested in will replace Bitcoin or Ethereum because it's faster and can do so much more. People are so used to seeing internet companies come and go, that they automatically assume the same logic applies to crypto. They have to adapt to how things work in crypto land and figure out that things are different here.
Due to how Libra is gaining more negative attention from the side of governments, they suddenly acknowledge that there is a difference between centralized and decentralized networks. This is quite a milestone in my opinion. One we can be proud of.
Most newbies that enter crypto are confident that the shitcoin they invested in will replace Bitcoin or Ethereum because it's faster and can do so much more. People are so used to seeing internet companies come and go, that they automatically assume the same logic applies to crypto. They have to adapt to how things work in crypto land and figure out that things are different here.
Due to how Libra is gaining more negative attention from the side of governments, they suddenly acknowledge that there is a difference between centralized and decentralized networks. This is quite a milestone in my opinion. One we can be proud of.
I am not at all surprised by this decision. Since Huawei is currently in conflict with the US government and the US is putting direct pressure on Facebook to prevent Libra from appearing, it’s logical that Huawei will try to release a similar coin in order to have its trump cards in the trade war with the US government. The planned appearance of Libra has caused a great interest and a strong reaction all over the world, so the Chinese business will not miss its chance for profit. They copy everything that can be profitable.
Fun times ahead of us
I am not at all surprised by this decision. Since Huawei is currently in conflict with the US government and the US is putting direct pressure on Facebook to prevent Libra from appearing, it’s logical that Huawei will try to release a similar coin in order to have its trump cards in the trade war with the US government. The planned appearance of Libra has caused a great interest and a strong reaction all over the world, so the Chinese business will not miss its chance for profit. They copy everything that can be profitable.
Quote
Huawei CEO Ren Zhengfei: Why Wait for Facebook? China Can Issue Its Own ‘Libra’
source articles:
https://cointelegraph.com/news/huawei-ceo-why-wait-for-facebook-china-can-issue-its-own-libra
https://finance.sina.cn/chanjing/gsxw/2019-07-26/detail-ihytcerm6336647.d.html?ivk_sa=1023197a
Whaaaaaat
Yes we can have many 'Libras' in the world.
Bunch of centralized so called coins that will fight and compete with each other.
Why are they doing this?
Because they cant control Bitcoin
Interesting, we could start a new wave of country launching their own version of Libra Coin, if China decided to start one to compete, with Facebook, another country can start a new coin, and if that becomes successful who knows every country will have their own Libra coin.
Very possible dark future, sadly
That is why Bitcoin is so important.
Quote
Huawei CEO Ren Zhengfei: Why Wait for Facebook? China Can Issue Its Own ‘Libra’
source articles:
https://cointelegraph.com/news/huawei-ceo-why-wait-for-facebook-china-can-issue-its-own-libra
https://finance.sina.cn/chanjing/gsxw/2019-07-26/detail-ihytcerm6336647.d.html?ivk_sa=1023197a
Whaaaaaat
Yes we can have many 'Libras' in the world.
Bunch of centralized so called coins that will fight and compete with each other.
Why are they doing this?
Because they cant control Bitcoin
Why thee are 1000 bitcoin clones?
Because they own to little Bitcoins and cos there is easy to clone one. It is normal as soon as Libra starts we will see their clones.
Interesting, we could start a new wave of country launching their own version of Libra Coin, if China decided to start one to compete, with Facebook, another country can start a new coin, and if that becomes successful who knows every country will have their own Libra coin.
But we can see they will continue to survive and even defeat bitcoin or some altcoins that use a decentralized system or just want to try innovating. Eventually, most people will be aware that decentralized system is the best for them to choose. Somehow, this thing is just an inovation from this technology we should not bother to give criticism to them.
Then, when many people know about cryptocurrencies yeah I believe there will be many newcomers who care about cryptocurrencies if some countries or a well-known company use/create their own cryptocurrency, most people will be aware of it and they will choose which one is convenient to use. So that a vaginal discharge will be in this phase, cryptocurrencies become a centralized system or the opposite.
Then, when many people know about cryptocurrencies yeah I believe there will be many newcomers who care about cryptocurrencies if some countries or a well-known company use/create their own cryptocurrency, most people will be aware of it and they will choose which one is convenient to use. So that a vaginal discharge will be in this phase, cryptocurrencies become a centralized system or the opposite.
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