Tether will not bring down crypto

[Anonymous No.25638146]

Tether is almost certainly a fraud, but it will NOT disrupt crypto speculation at all. Instead, China's successful CBDC pilot will.

https://www.ledgerinsights.com/china-digital-currency-cbdc-central-bank-covid-19-subsidies/

"It is confirmed that the core digital currency does not use blockchain but it clarifies that it shares two features. The digital yuan uses asymmetric cryptography, otherwise known as keys, as well as smart contracts. But it’s centralized for scalability.

By using this mix, it claims to be secure, have controllable anonymity and prevents counterfeiting. It also addresses the high costs of cash issuance and handling, and difficulties in tracking and fraud."

Here's the kicker: unlike BTC or ETH, it has one huge advantage to ensure it replaces cash in the future. IT WORKS OFFLINE.

"Unlike Alipay and WeChat Pay the digital currency works offline through p2p touch payments and also does not require a connection with a bank card. And because the digital yuan is like cash, there are no silos compared to Alipay and WeChat Pay, which are not interoperable."

BTC and ETH will continue to see some niche utility as a speculative asset, but once digital yuan rolls out, you can kiss goodbye to OTC Tether conversions: the new generation of CBDC will basically be traceable cash, making money laundering at a massive scale close to impossible. It's the #1 reason Chinese hodlers are dumping BTC on westerners as a breakneck pace this year: the digitial yuan is now being piloted nationwide, and will most likely be made mandatory within a year.

[Anonymous No.25638241]

>>25638146
https://www.wsj.com/articles/china-envisions-its-digital-currency-future-with-lotteries-and-a-years-worth-of-laundry-11609066819

From the Wall Street Journal, Dec 27th 2020 just as BTC price started spiking exponentially:

"BEIJING—The People’s Bank of China on Sunday concluded its second digital-currency pilot program, as the central bank moves closer to a formal rollout that would make China the first major world economy to introduce such a system.

This month, authorities in the eastern Chinese city of Suzhou handed out 20 million digital yuan, equivalent to $3.1 million, to local residents via a lottery. Each of the 100,000 winners received 200 yuan in the new digital currency, which could be spent on online or offline purchases.

The Suzhou pilot included twice as many residents and three times as many merchants as one conducted in October in the southern Chinese city of Shenzhen, the first such trial of the government-backed digital currency.

The trial in Suzhou also expanded the scope of the pilot program by testing the digital yuan on online stores and by introducing an electronic-payment method that doesn’t require an internet connection."

[Anonymous No.25638625]

Cool, chinks can just have their money confiscated with they question they party line.
Not selling my BTC, Zhang.

[Anonymous No.25638678]

>>25638146
This is great. Where can I buy digital yuan? Will it go from $1 to $100 in one year?

[Anonymous No.25638752]

>>25638625
Hey man, I have coins too, but let's be realistic here: we've bought, now to decide when to sell. This pilot is ongoing: when it ends, it might be time to see the best time to sell before it crashes again.

>>25638678
I know you're trolling, but if this takes off, the US and Euro will definitely model their CBDCs after it, and finally come after private cryptocurrencies, which will be a disaster for me.

[Anonymous No.25638815]

what's a bullrun without the good 'ol Chyna FUD
btw when is chinese new year??

[Anonymous No.25639101]

>>25638146
>Tether will not bring down crypto
FUCK OFF SHILL
ALL CRYPTO WILL IMPLODE

[Anonymous No.25639780]

>but its centralized

[Anonymous No.25639874]

>centralized chinkcoin