Can anyone fill me in on China's digital currency?

Ecoleo [he/him] to

finance • 4 years ago

11 Comments

China’s digital yuan displaces the dollar

asiatimes.com

In his annual letter to JP Morgan shareholders, bank chairman Jaime Dimon offered a startling admission: Banks already compete against a large and powerful shadow banking system. And they are facin…

Saw this posted in /r/sino and it got my attention.

I've always been pretty financially illiterate, I just save and invest in an RSP managed by my bank. Could this be a smart buy though? I believe China will continue to prosper and grow and if that is the case, it's state backed crypto should too, no?

Chat

Mardoniush [she/her]
·
4 years ago
Yuancoin to the Moon!

link
- Melon [she/her,they/them]
  ·
  4 years ago
  the entire point of a currency is that it's one of the least speculative assets around
  
  link
  - Mardoniush [she/her]
    ·
    4 years ago
    Sorry, got my reference frame wrong. I meant USD to the inner core.
    
    link

finance

Create a post

You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !finance@hexbear.net

Stock market entryism is a revisionist lie.

:stonks-up: :stonks-down: :ritzy-marx: .

Rules:

NO ABLEISM. ALTERNATIVE WORDS:

Piss Baby
Shitbird
Asshat
Liberal

NOTHING IN THIS COMM SHOULD BE TAKEN AS FINANCIAL OR INVESTING ADVICE.

All posts and comments must follow the ChapoChat Code of Conduct as well as our Terms Of Service.

No referral, invite, or affiliate links/codes
Do not soliciting business/investors, market research, media requests, or recruiting.
No asking (even indirectly) for gifts, loans, or donations for yourself or on behalf of any organization or person(s). !mutual_aid@www.chapo.chat exists.

We also do not allow:

Any mention of a fundraising campaign even without a link
Requesting a job
Asking for loan cosigners
Soliciting for anyone to engage in any kind of transaction
Suggesting another user perform an activity that is illegal, unlawful, or fraudulent in most jurisdictions
Linking to illegal content or lawbreaking information
Asking for advice on any of the above

Please note, posts and comments shitting on the existence of this comm are not allowed.

This is a dengist safe space. :deng-smile:

“I have, which will surprise you not a little, been speculating - partly in American funds, but more especially in English stocks, which are springing up like mushrooms this year (in furtherance of every imaginable and unimaginable joint stock enterprise), are forced up to quite an unreasonable level and then, for the most part, collapse. In this way, I have made over £400 and, now that the complexity of the political situation affords greater scope, I shall begin all over again. It’s a type of operation that makes demands on one’s time, and it’s worth while running some risk in order to relieve the enemy of his money.”

Karl Marx

Visibility: Public

This community can be federated to other instances and be posted/commented in by their users.

17 users / day
40 users / week
40 users / month
621 users / 6 months
961 local subscribers
970 subscribers
873 Posts
4.66K Comments
Modlog