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#1 |
Philosopher
Join Date: Apr 2004
Posts: 8,548
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China announces crypto-currency as their official coin
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.The coin (as at the time of the article) was trading ¥0.33 cents |
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"A closed mouth gathers no feet" "Ignorance is a renewable resource" P.J.O'Rourke "It's all god's handiwork, there's little quality control applied", Fox26 reporter on Texas granite You can't make up anything anymore. The world itself is a satire. All you're doing is recording it. Art Buchwald |
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#2 |
Penguilicious Spodmaster.
Tagger Join Date: May 2005
Location: Ponylandistan Presidential Palace (above the Spods' stables).
Posts: 38,751
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Nope, not Forbes.
Fake. |
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"We stigmatize and send to the margins people who trigger in us the feelings we want to avoid" - Melinda Gates, "The Moment of Lift". |
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#3 |
Master Poster
Join Date: May 2008
Posts: 2,097
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Hopefully their imaginary currency is far more successful than their imaginary support of human rights.
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"Townes Van Zandt is the best songwriter in the whole world and I'll stand on Bob Dylan's coffee table in my cowboy boots and say that." Steve Earle "I've met Bob Dylan's bodyguards and if Steve Earle thinks he can stand on Bob Dylan's coffee table, he's sadly mistaken." Townes Van Zandt |
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#4 |
Philosopher
Join Date: Apr 2004
Posts: 8,548
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Hah! I got suckered.
Looks like it is a scam website in response to China’s actual idea to move to digital currency. Sydney Morning Herald article. https://www.smh.com.au/business/the-...24-p56hkh.html |
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"A closed mouth gathers no feet" "Ignorance is a renewable resource" P.J.O'Rourke "It's all god's handiwork, there's little quality control applied", Fox26 reporter on Texas granite You can't make up anything anymore. The world itself is a satire. All you're doing is recording it. Art Buchwald |
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#5 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 17,009
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China IS planning to move to a digital currency but not via a blockchain. It is the opposite of a crypto currency being totally under the control of the central bank and every transaction subject to scrutiny (ideal for totalitarian states).
A digital currency issued directly from central banks would be an ideal setup (it would simplify government payments). However, without some sort of decentralization and anonymity it isn't likely to gain much acceptance. |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#6 |
Orthogonal Vector
Join Date: Jul 2006
Posts: 50,461
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Sufficiently advanced Woo is indistinguishable from Parody "There shall be no *poofing* in science" Paul C. Anagnostopoulos Force ***** on reasons back" Ben Franklin |
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#7 |
Penultimate Amazing
Join Date: Jul 2006
Posts: 20,439
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"Reality is what's left when you cease to believe." Philip K. Dick |
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#8 |
Master Poster
Join Date: Oct 2005
Location: Oregon, USA
Posts: 2,188
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Knowing that we do not know, it does not necessarily follow that we can not know. |
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