Peoples Bank of China Announces their own Digital Currency - Simon Dixon discusses
http://www.simondixon.org/ Simon Dixon discusses the breaking news that did not catch the attention of the monetary reform community. Here was the reaction from the Bitcoin Community: http://cointelegraph.com/news/survey-of-experts-chinas-digital-currency-vs-decentralized-bitcoin There was no reaction from the Monetary Reform community even though they just got the most significant reform announcement in decades. Here is the announcement from Reuters: China's central bank plans to launch its own digital currencies China's central bank wants to launch its own digital currencies to cut the costs of circulating traditional paper money and boost policymakers' control of money supply, the People's Bank of China (PBOC) said on Wednesday. A PBOC research team set up in 2014 to look into digital currencies should make preparations for launches, according to a central bank statement posted on www.pbc.gov.cn. "The team ... should set up a clearer strategic target for launching digital currencies, overcome the key technological barriers ... and aim for an early launch of the central bank's digital currencies," the PBOC said. Virtual currencies can also help boost transparency of economic activities and curb money laundering and tax evasions, it added. One of the most popular digital currencies is bitcoin, which is created through a 'mining' process where a computer's resources are used to perform millions of calculations. But the rise of bitcoin, which is unregulated in many countries, has stoked concerns it can be used as a vehicle to launder money and finance extremist groups.
Comments
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Just re-watched this video in light of the Canadian E-money experiment - very exciting! Your insights are more pertinent than ever. I think these are HUGE developments.
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Thank you for sharing this info, a clear signal of hedging in preparation for the burst of the fiat currency bubble that seems inevitable. subscribed now thanks!
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Just subscribed. This China news has me very intrigued, and I'm sure you're the best source for staying up to date. Thanks! (Btw. tell the people at BF they still owe me a certain special book, digital version is fine.)
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Simon, love your video. I shared it to all my facebook friends and google plus as well. This is an important piece of information that many people are not hearing through the regular media outlets. This is all starting to come to a fork in the road situation where many countries will soon be immersing themselves within the Bitcoin blockchain because this will become the Goldman Sachs (hate to use that example) of all digital currencies. I love other currencies like Ripple and other decentralized assets but overall Bitcoin will continue to lead the game here at least for a long time. Thanks for your post. What is your facebook link I would like to friend you if possible.
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positivemoney.org [UK] scroll to Recent Posts - ''Should Bank of England issue Digital Money?''
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Wow, big news.
Didn't gold do very well in the great depression? It went from $20 to $35. Also if the physical is in your hand and the money supply is disapearing in a debt defaltion, gold should be good too as well as cash. -
I'm guessing you're recording with a laptop, but try to setup so you "look up" at the camera instead of "looking down". Would make for a more flattering image :-)
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very interesting
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Thank you for the update! Only thing I would add is gold has risen during both inflation + deflation periods in the past (not just during inflation).
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