Would they need BTC? With 1.3 billion potential users wouldn't that be enough?
I think it's very good for bitcoin advancement in the future Because China is a country that has big capital to create various projects that will emerge later and will create opportunities for anyone in job search and income each month. 
Topic: If china got their own coin? - page 3. (Read 1312 times)
Would they need BTC? With 1.3 billion potential users wouldn't that be enough?
A government issued coin
Do not think for one moment that the Chinese government will allow a decentralized/unregulated currency like Bitcoin, forever?
Bitcoin it's like a gold, if China will get their own cryptocurrency, bitcoing will go up 100%
They can try. But it will be centralised. So what is the point. The idea behind bitcoin is decentralisation. China making their own will just be RMB on blockchain. It has no store of value as they can make more.
So forget that idea. It will never be good.
So forget that idea. It will never be good.
I agree with everyone saying what matter is not who owns the country, but rather how much trust people place in the currency... However, don't you think that a certain country (especially a powerful one like China) standing behind a currency would increase its legitimacy for the average person, so that it would increase the coin's popularity and take rate? The average person is skeptical about cryptocurrencies anyways, a country standing behind one may make it easier for them to buy into the system.
If the Chinese government issues its own crypto currency, I think it will not have much significance in the world of crypto currency. Since it will be fully centralized, it is likely to be used primarily domestically. It is unlikely that international treaties will be concluded with its use. the Chinese market is, of course, huge and this crypto currency will be able to find its place, but for the economy as a whole it will not matter much.
Everyone and every country can release their own coin, but the most important question is whether they are going to get users or any support, without any users the coin will just useless and worth nothing, and coin that come out from the government is not decentralize
Yeah it's all about the users who support a certain coin. It's not necessary that every alt will be successful nor can we say that every alt could be unsuccessful. The coins success is measured by the number of its users. Bitcoin is successful because it has a global support without a label of any country. If China introduces it's owner cryptocurrency it is not even sure that all the Chinese will support it and surely the many people will ignore it due to the fact of Chinese label on it. 
Everyone and every country can release their own coin, but the most important question is whether they are going to get users or any support, without any users the coin will just useless and worth nothing, and coin that come out from the government is not decentralize
In every country there's a lot of coin in china there so many and they a big investor and a good project coin.
whenever a country talks about getting their own cryptocurrency, it is exactly the same as them printing more money (physical cash). it is a centralized and fully controlled and limited to one country currency.'
now you are comparing this to bitcoin which is a decentralized and global an not controlled currency with a limited supply. i am sure a country-coin will be limitless like their fiat and they will be issuing new tokens whenever they want just like how they print money whenever they want.
now you are comparing this to bitcoin which is a decentralized and global an not controlled currency with a limited supply. i am sure a country-coin will be limitless like their fiat and they will be issuing new tokens whenever they want just like how they print money whenever they want.
Chineese people are dying for bitcoin I can tell you that. 
they may not necessarily have such a huge amount of money and they should not use bitcoin for that would be because they are rich in china because china is the richest and most populated country in the world where they have not bitcoin needed abroad and banned bitcoin in china but if china comes with their own coin they will never break the bitcoin because I have all bitcoin users together.
If china created their own coin i think some citizen of china still gonna use bitcoin, being decentralized of bitcoin is why so many people have it if china created their own coin it will never be the same, bitcoin's decentralization i think is the reason why china banned bitcoin because they can't control it so they just prevent it to make their own coin i think it will not be accessible as bitcoin.
China has its own coin. The first is the anchor. Pretty proud of NEO and NEO as ETH. But due to the law prohibiting ico from China so investors do not like NEO. China may soon come out with a penny for China to manage
There will be a chance to legalize digital currency if they will have own token because they will support their own coin and it can regulate by the government
if the middle of country has a special centre
bitcoin quantity are being used at the world of multicast
if they have a same currency, it is a great for both and them
bitcoin quantity are being used at the world of multicast
if they have a same currency, it is a great for both and them
This is entirely possible because China is a country that has always had its own meaning. There are already a lot of china coin present in the crypto market. The coin is well developed.
People outside from China don't care if they produced their own cryptocurrency, it is used internally and a state controlled cryptocurrency and most people will not allow to control their cryptocurrency by the government. Even if China has an approximate 2 Billion potential users, if their coins are not tradeable then it is considered as shit coins.
Would they need BTC? With 1.3 billion potential users wouldn't that be enough?
Which coin do you think the people and miners are going to choose to use? The one that will be controlled by the government or the decentralized one that has became the most popular Cryptocurrency. Obviously they will still continue to use BTC, even if it's banned, people are still going to find a way to use it. With 1.3 billion potential users wouldn't that be enough?
That is a big possibility that a government like China will introduce a bitcoin of they’re own and be supported by the people on that country that is a given reality. Is it good to bitcoin? Yes, then it will be the end of China interfering on bitcoin investments. That is better and I don’t see any bad consequences to it on bitcoin price.
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Would they need BTC?
Most likely, 10 % will still or assuming will invest or transact with bitcoin. They can’t control 1.3 billion people(if this is correct) that has different mindset and with the technology usage that can either hide one’s personal identity, the position of the government will always be on those who follow them and punish those weren’t. Jump to: