Reply to post: Re: "And then there’s the Digital Yuan"

China all but bans cryptocurrencies

Anonymous Coward
Anonymous Coward

Re: "And then there’s the Digital Yuan"

"So, in essence, China is banning competition to its own funny money."

Any money is funny including the pound coins/dollar bills/euro notes in your pocket.

But there is a rather significant difference between funny pound coins/dollar bills/euro notes/digital yuans on the one hand, and bitcoins on the other.

With the former you have a degree of trust that another funny thing, a state or a multi-state association, will continue to accept them as a means of exchange and that the value of that means of exchange will be more-or-less stable. With the latter you have to have a degree of trust that Eoin Musk or another funny character will not fire off a few tweets that will destroy the value of your means of exchange in an instant ...

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