Bitcoin

Leo

Well-known member
crosspost in the china thread

China leads the world with new state-backed digital currency


In a push to dominate global financial technology, the Chinese government is aiming to roll out the world's first state-backed digital currency.

Why it matters: China's new currency could set global standards for the use of national digital currencies — and give Beijing unprecedented visibility and control over domestic financial transactions.
 

IdleRich

IdleRich
I heard something about this.... but I thought that half the appeal of crypto was that it wasn't state backed and had no oversight?
 

Dusty

Tone deaf
If anything, state controlled cryptocurrency will only drive people towards the decentralised alternatives, as they seek to avoid the government control of their finances, especially when the state banks print more and more.

Although I'm sure China will seek to totally outlaw the use of any decentralised non-state controlled coin.
 

Dusty

Tone deaf
That's exactly what it is. That's crazy that in a bull market he's managed to lose so much... making impressively bad decisions every step of the way - but the main one is betting on absolute shit tokens. If he had just left all the money in Ethereum and done nothing...
 

wild greens

Well-known member
I am inactive these days but been doing some reading & looks like dark fail got hacked, and White House are exit scamming?
 
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143 I.Q. Magical Thinker

Bamber Clatscoigne
I've enjoyed this today, an excellent episode from the Bankless guys - they discuss how this crypto revolution mirrors the renaissance of the Middle ages such that two technologies - double entry bookkeeping (distributed ledgers) and the printing press (wide-spread distribution of information) came together to eliminate the power structures that existed. They even discuss how memes and art were an important part of this shift.

The parallels with blockchain technology, the internet and NFTs are fascinating and demonstrates that we are in the middle of something that historians will look back on as a turning point in history as we go from centralised structures to decentralised organisations.


One of the throughlines is how it is not individuals that make history but communities.
 
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WashYourHands

Well-known member
I've enjoyed this today, an excellent episode from the Bankless guys - they discuss how this crypto revolution mirrors the renaissance of the Middle ages such that two technologies - double entry bookkeeping (distributed ledgers) and the printing press (wide-spread distribution of information) came together to eliminate the power structures that existed. They even discuss how memes and art were an important part of this shift.

The parallels with blockchain technology, the internet and NFTs are fascinating and demonstrates that we are in the middle of something that historians will look back on as a turning point in history as we go from centralised structures to decentralised organisations.


One of the throughlines is how it is not individuals that make history but communities.

 
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