Last Friday, Chinas official newspaper Peoples Daily released an article
Bitcoin, a New Form of Digital Gold by Yang Wang. And in an interview, Yang says that after talking with people from the central bank, he believes that the government will define btc as commodity or futures. It is in conflict with the RMB system. And when the PBOC released its own digital currency, most cryptocurrencies would be obsoleted and bitcoin or blockchain startups will move to mobile payment.
http://news.8btc.com/chinas-official-newspaper-peoples-daily-defines-bitcoin-as-digital-goldWell the question here is are they wrong in saying bitcoin is equivalent to digital gold? Bitcoin in the past few months has become rigid as gold, hard to move and hard to keep people's eye off from. The Scaling issue is getting no where, The alternative is to use wallets like coinbase and xapo, which offer fast sql based transactions but the users are not in control of their coins thus making it an equivalent of a bank, destroying bitcoin's true purpose. For now i agree with Them, Bitcoin has become Digital Gold instead of being Digital Cash.