Move To Digital Currencies Accelerates As PBoC Successfully Tests Algos For Digital Money

The Internet will literally be the last piece of technology to go down.

Trucks delivering groceries, gasoline, and band-aids will be long gone, but the 'net will keep chugging.

Ask me a question, and stop asserting shit from ignorance.

Bitcoin has no chance against national cryptocurrencies of Russia and China.

Not true. Just read. The supply of coins is regulated. Meaning they will issue new coins at will. Which cauaes deflation. This saves the state hundreds of millions by not hqving to print paper money. Bitcoin supply will never go beyond 21 million. Its mathematicaly capped. Also it produces incentive by mining. U think pboc is going to issue mining? No. They will merely juat create coins at will. They truly have near zero value. The move is good in that its faster and more convenient to move than actual paper monies. It also validates the usefulness of real digital currency. But it will never compete with an every mans global and truly incentive network like bitcoin.

ChinkCoin is doomed to fail. No one will participate in a coin that has unlimited supply, which is the ONLY way the ChiComs can control it. Scarcity is why BTC is so many fold ahead of ETH.

The goal is to digitize all assets, and once everything has a digital currency value, the game is over, the beast has won control over the world's assets, and nothing can be bought or sold without the beast knowing about it, or the beast getting it's undeserved cut.

We are witnessing the beginning of the end, and anyone not in the digital system will have to live outside of it in black market poverty.

The beast is taking over the world with zeros and ones.

Built on a foundation of sand. Anyone anyone?

Bitcoin has no chance against national cryptocurrencies of Russia and China.

since spectrum took over time warner my internet has gone dark twice a week this has been happening since Jan 17.
Everytime it goes out I run to the store to purchase usually cigerates to remind myself I have physical currency and that it cant dissapear with a flip of a switch. No thankyou I do not want your centralized digital currencies

Built on a foundation of sand. Anyone anyone?

Fuck digital I want metal. You don't hold it, you don't own it.

If TSHTF do you really think the internet and bitcoin will exist ???

Really ???

The People's Bank of China, China's central bank, has completed trial runs on the algorithms needed for digital currency supply, taking it a step closer to addressing the technological challenges associated with digital currencies, according to a top official associated with the project.

Yao Qian, director-general of the Institute of Digital Money at the PBOC, said China's central bank has successfully designed a prototype that can regulate the supply of its future digital fiat currency.

The successful simulation of money supply paves the way for the central bank to become the future sole regulator and policymaker governing the value of digital fiat currency, said Yao.

Digital fiat currencies are the digital forms of a sovereign currency that is backed by the central bank.

Unlike Bitcoin or other digital money issued by the private sector, the digital fiat currency has the same legal status as the Chinese yuan, the only fiat currency issued by the People's Bank of China.

There is no timetable for the introduction of the currency, but once introduced, China is likely to become the first country that would deploy a digital fiat currency.
[link to www.chinadaily.com.cn]

more here: [link to www.zerohedge.com]