Post
Topic
Board Bitcoin Discussion
Re: If china got their own coin?
by
HabBear
on 17/11/2017, 06:14:15 UTC
Would they need BTC?  With 1.3 billion potential users wouldn't that be enough?

What are you referencing? Is there an article you can link?

When you say "China got their own coin" you are literally not saying "China got Bitcoin". But then you say "Would they need BTC?"

A lot of governments are setting up their own blockchain based currency. It's kind of funny, technically they're hard forking their own fiat currency! Hahaha.

These moves are kind of ploys to get citizens to subscribe to the fiat backed blockchain based currency. It's really no different than the fiat currency. But it gives the government visibility into every transaction, supports their will to get rid of paper money, and potentially offers a small investment opportunity (although this last point depends on whether these governments are issuing a finite supply of coins or if they'll be able to increase the money supply as they do for fiat currency.)