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China is ready to roll out 1rst major centrally backed cryptocurrency. We are way behind & this is a

BaronVonZemo 64588 posts Joined: Nov 19, 2010

Posted 1:16 pm on Apr 25, 2022

-2

very serious threat to our economic perch. In fact, this is possibly the biggest threat out there to it.

Link: https://www.wsj.com/articles/china-creates-its-own-digital-currency-a-first-for-major-economy-11617634118

BVZ

Replies 24

China is ready to roll out 1rst major centrally backed cryptocurrency. We are way behind & this is aLink BaronVonZemo 1:16pm · 4/25/22
- Nope will never happen. I would short anything China does on the international stage.NT PBHangingChad 8:05pm · 4/25/22
- Geeze Nigel Tufnel 3:25pm · 4/25/22
  - This is a big deal, but Lance referenced end days. We need to get going. BaronVonZemo 5:46pm · 4/25/22
- Looks like a digital currency tied to the Yuan & controlled by PRC cBank, not a cryptocurrency. NedoftheHill 2:15pm · 4/25/22
  - The dollar index is at the high for the past year and has rallied over 11%. Iggle 3:43pm · 4/25/22
    - Yeah. The hacks are of exchanges, not the cryptocurrency itself. The PRC just made an exchange. NedoftheHill 4:06pm · 4/25/22
  - Correct, it is intended for the domestic market. LanceHarbor 2:17pm · 4/25/22
    - It does raise interesting issues. NedoftheHill 2:19pm · 4/25/22
      - That's a pretty advanced local gas station. LanceHarbor 2:28pm · 4/25/22
        
        Ever heard of an app? BaronVonZemo 5:43pm · 4/25/22
        
        But that is kind of the point. Digital currency will become accessible to all. It is digital. NedoftheHill 2:30pm · 4/25/22
        
        It's available right now. LanceHarbor 2:40pm · 4/25/22
        
        El Salvador (the entire nation) accepts Bitcoin as legal tender. NedoftheHill 2:42pm · 4/25/22
        
        This was before their corrupt president made that official. LanceHarbor 2:48pm · 4/25/22
        
        Right. John Doe takes the easy route, until it becomes too costly. Then he chooses next best option.NT NedoftheHill 2:51pm · 4/25/22
        Continue 2 replies
- Worse than that, the days of the Dollar as World Reserve Currency are numbered..Reason: profligacy- CapeIrish 1:57pm · 4/25/22
  - Heard a great exposition on this - we have not prioritized it until very recently. We're yrs from a BaronVonZemo 2:06pm · 4/25/22
    - I think legal entities should be hesitant to allow the PRC to hold their money for them. NedoftheHill 2:16pm · 4/25/22
  - Who knew the end is so near? LanceHarbor 2:03pm · 4/25/22
    - Probably nick some off Chris. He predicted doom and gloom every day of the Trump presidency. Stark Raving Dad 2:30pm · 4/25/22
      - So, you think the USD will remain solid forever?...or just beyond your lifetime?NT NedoftheHill 2:33pm · 4/25/22
- So dramatic...always. LanceHarbor 1:55pm · 4/25/22

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