Re: If china got their own coin?

I didn't mean the Chinese government, I meant the Chinese miners. It would still be decentralised, just largely around China. Has there been any attempts?

There are quite a few alts that I've never heard of that were huge in China. But I don't think there'll ever be such a thing as a crypto that sticks entirely to only one country. If there's action then everyone will want in no matter where they are.

And there are now no reliable Chinese markets so something China focused wouldn't get too far.

I think that if China got their own currency it will take too much time for people in the rest world to accept and regularize that currency because there are many currencies in the world which still did not get registration and is not known to the people rather those currencies are there in the market for a long time. Thats why I am suspicious about Chinese currency if they create their own besides bitcoin. Bitcoin is world acceptable currency and no other currency can replace it.

If they created their own crypto then it will be just like their national currency, no one uses the Chinese currency out of China so it will only be a local coin, I know that I would not want to hold such a coin for even a second, and taking into account the draconian control of the people the Chinese want to have it is unlikely that foreigners are going to be allowed to hold it either.

Yes, the currency that's been created gets used within the country letting people use it for transactions within the country. For cross border transactions surely there is a need for a common platform. Bitcoin will serve as the common platform and will get used. Upon this reason, China creating its own digital coin won't affect bitcoin as well altcoins big.