View Single Post
Old 21st January 2021, 02:01 PM   #6
Orthogonal Vector
ponderingturtle's Avatar
Join Date: Jul 2006
Posts: 50,746
Originally Posted by EHocking View Post
From a Forbes article.
China Officially Backs a CryptoCurrency and Establishes it as their Official Coin.
The government of China just informed us that they have chosen a preferred firm for the purchase and marketing of their new coin - YuanPay Group. The sales of China's coin officially started Wednesday, January 20, 2021 and currently these coins can be bought only from YuanPay Group.

In fact, China deputy minister of finance, Liu Kun, informed us that their new official coin starting price is just 0.12 cents!
The coin (as at the time of the article) was trading 0.33 cents
First hint this makes no sense, why would a central bank create a digital currency and allow its value to fluctuate with respect to its official currency?

I mean they control the value of their currency really hard they would do the same with any digital currency.
Sufficiently advanced Woo is indistinguishable from Parody
"There shall be no *poofing* in science" Paul C. Anagnostopoulos
Force ***** on reasons back" Ben Franklin
ponderingturtle is offline   Quote this post in a PM   Nominate this post for this month's language award Copy a direct link to this post Reply With Quote Back to Top