Martin Chorzempa of the Peterson Institute for International Economics says price fluctuations of the digital Chinese yuan are unlikely to be a concern.
“China’s digital yuan is ‘nothing like bitcoin’: PIIE” への48件のフィードバック
The risk in E-CNY comes from the fact that it gives a central authority much more control than what was possible with paper currencies. If you happen to be on the ‘naughty list’ of the controlling central authority, then your wealth can be confiscated. Moreover, the usage data collected is certainly going to be used by the central bank to target certain industries with their policies and choose winners and losers, through balance sheet expansions. If you happen to be on the ‘naughty list’, then you’re certainly going to end up on the wrong side of the equation. So, you need to have a certain culture at your company, that falls in line with the CCP, for this currency to be safe for you. This isn’t sound money and is an enabler for fascist/authoritarian/communist/socialist regimes. People need to have control over the wealth that they earn through fair market transaction. Not having that control is akin to slavery.
90% transaction in China is in digital form right now. None using paper money now. Most Chinese people using Alipay, Wechat pay, Credit Card, bank transfer, mobile banking, internet banking etc.
You are out of date. LOL
@Naura Sal and the underlined reasoning behind that is because they want to eliminate anonymous payments and farm the entire market share of data from there own citizens. It’s always a control based motive for the CCP.
@Girk Dude, every transaction in your bank account, credit card, etc had been recorded by your Central bank. What is the different? Except you never had bank account, credit card and social security number. Otherwise, you had been recorded. What is the different?
@Naura Sal oh, there are many differences to make the case that this is bad for anonymity. The fact that you’re trying to press me for a singular example of what good is cash for, implying that you can’t even fathom a use is quite funny, though. Keep in mind, I work for one of the largest bank chains in North america, so I fully grasp what is reported and not reported through the branches in my state. But, that aside, China even admitted that one of the reasons why they want to use E-yuan was to reduce the incentive to use cryptocurrencies and to complement the current private-sector run electronic payments system – dominated by Ant Group’s Alipay and Tencent’s WeChat Pay. They’re not hiding their intent. But that’s only half of the issue. It’s the fact that this will give them centralized control over their currency for means of finally toppling the US dollar as the world’s dominant reserve currency.
@Godzilla Mothra that is not true. In the last decade we’ve clearly seen that decentralized alternative coins have take on enormous value even before any large economies had decided to get invested.
It is money in digital form instead of paper, backed by Chinese central bank and state. Comparing it with bitcoin is like comparing banks and casino. To make it simple, one digital yuan is always equal to one paper yuan. The benefit of it is that it is more efficient than paper money, and people might not need banks’ services anymore, you can literally keep all your wealth in one smartphone, or card, or your pc, etc; and you can transfer your digital yuan to others bypassing the banking system too, which mean bye bye SWIFT and US dominance in world banking system.
The real threat is to the banking system. The only way for banks to attract saver is by offering them interest. But there will be a lot of consolidation in Chinese banks, you might not need that many banks anymore. In fact, if the Chinese central bank want, it can now directly serve the Chinese consumers with little cost.
@John Clemens P. Rubi
Digital currency is the same as stock market? What are you talking about? Digital yuan is replacing paper yuan as a form of payment, not as a form of investment, unless you want to invest in forex. Beijing has no clue what accounting is? Funny you said that considering it was the US who repeatedly caused the global financial meltdown over and over. Local gov won’t agree? Again, what are you talking about. Who want a one on one digital value for your money? um, people who use money to buy stuffs? I think you mistaking digital yuan with bitcoin. Digital yuan’s role will be digital currency, a digital payment system. Not as a store of value.
@Godzilla Mothra Um, you do know that stocks are not paper money but settle their obligations in banks. Remember the 200 billion bailout with Goldman Sachs you do know it’s a bank right. Apparently you have no clue what the stock market is all about! Pegging Jack Ma Ant financial into an IPO in the stock market no longer means a one on one paper yuan to a digital yuan currency it basically becomes an investment so people will prefer it over a digital currency. The global financial crises is engineered by the US elites into the system it is intentional and not because of clueless policies. Powerful Chinese provinces and cities will not submit to this digital currency once they realize that it will take away their local power of purse just like the state owned companies. They will learn it the hard way but when they do they will ditch the digital currency.
@Godzilla Mothra yeah stock are more of an investment in a company to allow you to vote and grow the companies. Going to digital money boils down to 2 things really #1. Total money control and that scary as hell, though we could go back to bartering #2. Saving governments money oddly when you create money out of thin air it has a small cost (for example a minted penny is truly worth more then a penny if you melt it down
This isn’t a cryptocurrency though. Inherently, cryptocurrencies utilize blockchain technology and are decentralized. This essentially just gives the CCP the easiest way possible adjust the price of their currency. (Which is something that they have done for the last decades)
THE RICH STAY RICH BY SPENDING LIKE THE POOR AND INVESTING WITHOUT STOPPING THEN THE POOR STAY POOR BY SPENDING LIKE THE RICH YET NOT INVESTING LIKE THE RICH.
There’s no doubt in my mind that we are not only going bull, but BTCis going nuclear. A lot of people are wondering if now is a good time to buy because of where the price is at right now. I’d say it’s outrightly wrong to just sit back hodl and wait maybe incur some losses along the line, that’s a wrong mindset for an investor because as an investor finding ways to always increase and stack up more coins thereby making prof!ts should be the way of life, even experienced traders are in a doubt to take long or short position. I have been more skillful than lucky to be honest also thanks to Matt who trained me as my initial investment was multiplied by 5 In two months. After getting in touch with Matt Mark an exp:ert in the cryptospace, who showed me how to use his program to make transactions and got 7 btc in 2 moths with him. if you are looking for a way to increase your portfolio or investment. Matt TєIєɠramm; [MattMarkTribes]
The Crypt o space is a very sensitive zone. It took me 2 months to learn the perks of tradlng the right way, adaptation saved me. Thanks to Matt always.
The risk in E-CNY comes from the fact that it gives a central authority much more control than what was possible with paper currencies. If you happen to be on the ‘naughty list’ of the controlling central authority, then your wealth can be confiscated. Moreover, the usage data collected is certainly going to be used by the central bank to target certain industries with their policies and choose winners and losers, through balance sheet expansions. If you happen to be on the ‘naughty list’, then you’re certainly going to end up on the wrong side of the equation. So, you need to have a certain culture at your company, that falls in line with the CCP, for this currency to be safe for you. This isn’t sound money and is an enabler for fascist/authoritarian/communist/socialist regimes. People need to have control over the wealth that they earn through fair market transaction. Not having that control is akin to slavery.
This is 100% the facts of why the Chinese Communist party wants to get involved
90% transaction in China is in digital form right now. None using paper money now. Most Chinese people using Alipay, Wechat pay, Credit Card, bank transfer, mobile banking, internet banking etc.
You are out of date. LOL
@Naura Sal and the underlined reasoning behind that is because they want to eliminate anonymous payments and farm the entire market share of data from there own citizens. It’s always a control based motive for the CCP.
@Girk Dude, every transaction in your bank account, credit card, etc had been recorded by your Central bank. What is the different? Except you never had bank account, credit card and social security number. Otherwise, you had been recorded. What is the different?
@Naura Sal oh, there are many differences to make the case that this is bad for anonymity. The fact that you’re trying to press me for a singular example of what good is cash for, implying that you can’t even fathom a use is quite funny, though. Keep in mind, I work for one of the largest bank chains in North america, so I fully grasp what is reported and not reported through the branches in my state. But, that aside, China even admitted that one of the reasons why they want to use E-yuan was to reduce the incentive to use cryptocurrencies and to complement the current private-sector run electronic payments system – dominated by Ant Group’s Alipay and Tencent’s WeChat Pay. They’re not hiding their intent. But that’s only half of the issue. It’s the fact that this will give them centralized control over their currency for means of finally toppling the US dollar as the world’s dominant reserve currency.
he’s right, it’s just a stable (shit) coin
it is only shit if it isn’t backed by gov
@Godzilla Mothra that is not true. In the last decade we’ve clearly seen that decentralized alternative coins have take on enormous value even before any large economies had decided to get invested.
@Godzilla Mothra the only differences is that this coin is more hackable and completely centralized/controlled by the CCP
@Girkyea we did. Because we are speculative greedy bastards. Everyone want to grow 10x 100x.
I certainly take it more seriously than bitcoin.
Time to buy Chinese equities
Time to sell Chinese equities.
Bitcoin will be weaponized by the global community, which will increase the necessity of decentralized bitcoin.
Once it is opem to all marlets this can explode tbh
It is money in digital form instead of paper, backed by Chinese central bank and state. Comparing it with bitcoin is like comparing banks and casino. To make it simple, one digital yuan is always equal to one paper yuan. The benefit of it is that it is more efficient than paper money, and people might not need banks’ services anymore, you can literally keep all your wealth in one smartphone, or card, or your pc, etc; and you can transfer your digital yuan to others bypassing the banking system too, which mean bye bye SWIFT and US dominance in world banking system.
The real threat is to the banking system. The only way for banks to attract saver is by offering them interest. But there will be a lot of consolidation in Chinese banks, you might not need that many banks anymore. In fact, if the Chinese central bank want, it can now directly serve the Chinese consumers with little cost.
@John Clemens P. Rubi
Digital currency is the same as stock market? What are you talking about? Digital yuan is replacing paper yuan as a form of payment, not as a form of investment, unless you want to invest in forex. Beijing has no clue what accounting is? Funny you said that considering it was the US who repeatedly caused the global financial meltdown over and over. Local gov won’t agree? Again, what are you talking about. Who want a one on one digital value for your money? um, people who use money to buy stuffs? I think you mistaking digital yuan with bitcoin. Digital yuan’s role will be digital currency, a digital payment system. Not as a store of value.
@Godzilla Mothra Um, you do know that stocks are not paper money but settle their obligations in banks. Remember the 200 billion bailout with Goldman Sachs you do know it’s a bank right. Apparently you have no clue what the stock market is all about! Pegging Jack Ma Ant financial into an IPO in the stock market no longer means a one on one paper yuan to a digital yuan currency it basically becomes an investment so people will prefer it over a digital currency. The global financial crises is engineered by the US elites into the system it is intentional and not because of clueless policies. Powerful Chinese provinces and cities will not submit to this digital currency once they realize that it will take away their local power of purse just like the state owned companies. They will learn it the hard way but when they do they will ditch the digital currency.
@John Clemens P. Rubi
do you buy your starbucks with stocks?
@Godzilla Mothra Gagagogo Me a 👶. 😂
@Godzilla Mothra yeah stock are more of an investment in a company to allow you to vote and grow the companies. Going to digital money boils down to 2 things really #1. Total money control and that scary as hell, though we could go back to bartering #2. Saving governments money oddly when you create money out of thin air it has a small cost (for example a minted penny is truly worth more then a penny if you melt it down
Wtf man, isn’t digital yuan just a digital wallet for renmenbi?
Yes.
This isn’t a cryptocurrency though. Inherently, cryptocurrencies utilize blockchain technology and are decentralized. This essentially just gives the CCP the easiest way possible adjust the price of their currency. (Which is something that they have done for the last decades)
Will the digital yuan work on ethereum smart contracts?
No. The digital yuan is not a decentralized blockchain. It’s simply a government issued currency. Nothing special about it.
THE RICH STAY RICH BY SPENDING LIKE THE POOR AND INVESTING WITHOUT STOPPING THEN THE POOR STAY POOR BY SPENDING LIKE THE RICH YET NOT INVESTING LIKE THE RICH.
Mrs Expert_kirstyFX is obviously the best.
How do I get in touch with Mrs Expert_kirstyFX
I really need to contact she I’ve heard so much good news about her….let me give her a try.
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👆👆👆tell her I referred you..
What’s the currency called? YCC ?
There’s no doubt in my mind that we are not only going bull, but BTCis going nuclear. A lot of people are wondering if now is a good time to buy because of where the price is at right now. I’d say it’s outrightly wrong to just sit back hodl and wait maybe incur some losses along the line, that’s a wrong mindset for an investor because as an investor finding ways to always increase and stack up more coins thereby making prof!ts should be the way of life, even experienced traders are in a doubt to take long or short position. I have been more skillful than lucky to be honest also thanks to Matt who trained me as my initial investment was multiplied by 5 In two months. After getting in touch with Matt Mark an exp:ert in the cryptospace, who showed me how to use his program to make transactions and got 7 btc in 2 moths with him. if you are looking for a way to increase your portfolio or investment. Matt TєIєɠramm; [MattMarkTribes]
The Crypt o space is a very sensitive zone. It took me 2 months to learn the perks of tradlng the right way, adaptation saved me. Thanks to Matt always.
Never missing out on an opportunity to grow my portfoIio this year
My entire portfolio as of today stands on 4BTC from 0.9BTC I invested.
his system has been of great support to me 👍👍
The grid will go off,
When it comes back on no bitcoin 😂😂😂😂😂 it’s a scam from 50k up
Mrs Sonia James is legit and her method works like magic I keep on earning every single week with her new strategy
No exact amount but a profit range from $1200 to $5000 depending on the coin fluctuation in market
How does this Bitcoin stuff really work I think I’m interested
Can I start with $700
+ 1 2 1 3 4 6 8 6 3 8 2 🇱🇷
@vero Wale yes you can
Where you can buy digital yuan?
Yuan pay group is a scam