China has given away millions in its digital yuan trials. This is how it works
The People’s Bank of China has been developing the digital yuan, a so-called central bank digital currency (DCEP) that aims to replace some of the cash in circulation.
China has already started real-world trials for the digital currency in a number of cities including Shenzhen, Chengdu and Suzhou.
The digital yuan could increase competition in China’s mobile payments market which is dominated by Ant Group’s Alipay and Tencent’s WeChat Pay.
The digital yuan is different from Bitcoin, which is a so-called decentralized cryptocurrency. That means that it is not controlled by any central authority like a central bank, unlike the digital yuan which will be issued by the PBOC.
Source: CNBC #Mar04
https://www.cnbc.com/2021/03/05/chinas-digital-yuan-what-is-it-and-how-does-it-work.html
#DigitalYuan #China #DCEP #Bitcoin
The People’s Bank of China has been developing the digital yuan, a so-called central bank digital currency (DCEP) that aims to replace some of the cash in circulation.
China has already started real-world trials for the digital currency in a number of cities including Shenzhen, Chengdu and Suzhou.
The digital yuan could increase competition in China’s mobile payments market which is dominated by Ant Group’s Alipay and Tencent’s WeChat Pay.
The digital yuan is different from Bitcoin, which is a so-called decentralized cryptocurrency. That means that it is not controlled by any central authority like a central bank, unlike the digital yuan which will be issued by the PBOC.
Source: CNBC #Mar04
https://www.cnbc.com/2021/03/05/chinas-digital-yuan-what-is-it-and-how-does-it-work.html
#DigitalYuan #China #DCEP #Bitcoin
How much Bitcoin comes from dirty coal? A flooded mine in China just spotlighted the issue
One of the great Bitcoin unknowns has long been the amounts being produced, or "mined," in what's believed to be the top locale for mining the signature cryptocurrency: China's remote Xinjiang region. We got the answer when an immense coal mine in Xinjiang flooded and shut down over the weekend of April 17–18.
The blackout halted no less than one-third of all of Bitcoin's global computing power. "We'd seen estimates that high, but this shutdown confirms them," says Alex de Vries, an economist who runs the website Digiconomist, which tracks Bitcoin's energy consumption. "We also learned that the area in Xinjiang where all that mining happens is much smaller than previously believed. It underscores China's dominance in Bitcoin mining, and that dominance raises big security concerns."
Source: Fortune #Apr21
https://fortune.com/2021/04/20/bitcoin-mining-coal-china-environment-pollution/
#Bitcoin #China #Xinjiang
One of the great Bitcoin unknowns has long been the amounts being produced, or "mined," in what's believed to be the top locale for mining the signature cryptocurrency: China's remote Xinjiang region. We got the answer when an immense coal mine in Xinjiang flooded and shut down over the weekend of April 17–18.
The blackout halted no less than one-third of all of Bitcoin's global computing power. "We'd seen estimates that high, but this shutdown confirms them," says Alex de Vries, an economist who runs the website Digiconomist, which tracks Bitcoin's energy consumption. "We also learned that the area in Xinjiang where all that mining happens is much smaller than previously believed. It underscores China's dominance in Bitcoin mining, and that dominance raises big security concerns."
Source: Fortune #Apr21
https://fortune.com/2021/04/20/bitcoin-mining-coal-china-environment-pollution/
#Bitcoin #China #Xinjiang
#LittlePink #InternetArmy
"To say that people in a country must support their own country’s government is not patriotism, but a form of slavery" : Vitalik Buterin
The Russian-Canadian, co-founder of Ethereum #blockchain, #VitalikButerin is best known for his creation of the crypto space, dabbling in #Bitcoin. The 28-year-old is one of the youngest billionaires in #cryptocurrency, possessing a net worth more than $1 billion.
Buterin has been vocal on Russian's all-out invasion in Ukrain since February 24. He railed against Russian president Vladimir Putin and the invasion of Ukraine, condemning it as a "crime against the Ukrainian and Russian people".
In his latest post on Twitter, he called on support first for the Ukrainians and those who are protesting against Putin's rule in Russia and Belarus.
Buterin's Twitter post has attracted many Chinese netizens to choke. One of them, dogecoin faith, said in unreasonable grammar, “Aren’t you Russian? You traitor, did Putin have a bad experience with you? “
Buterin didn't turn a blind eye to this provocation. Instead, he addressed the comment and wrote back in simplified Chinese.
He wrote, "To say that people in a country must support their own country’s government is not patriotism, but a form of slavery.”
Buterin continued, "#TruePatriotism sometimes requires confronting the evil emanating from one’s own country. Because in this way, we can help our country become more beautiful.”
Source: Ming Pao weekly; #Mar15
"To say that people in a country must support their own country’s government is not patriotism, but a form of slavery" : Vitalik Buterin
The Russian-Canadian, co-founder of Ethereum #blockchain, #VitalikButerin is best known for his creation of the crypto space, dabbling in #Bitcoin. The 28-year-old is one of the youngest billionaires in #cryptocurrency, possessing a net worth more than $1 billion.
Buterin has been vocal on Russian's all-out invasion in Ukrain since February 24. He railed against Russian president Vladimir Putin and the invasion of Ukraine, condemning it as a "crime against the Ukrainian and Russian people".
In his latest post on Twitter, he called on support first for the Ukrainians and those who are protesting against Putin's rule in Russia and Belarus.
Buterin's Twitter post has attracted many Chinese netizens to choke. One of them, dogecoin faith, said in unreasonable grammar, “Aren’t you Russian? You traitor, did Putin have a bad experience with you? “
Buterin didn't turn a blind eye to this provocation. Instead, he addressed the comment and wrote back in simplified Chinese.
He wrote, "To say that people in a country must support their own country’s government is not patriotism, but a form of slavery.”
Buterin continued, "#TruePatriotism sometimes requires confronting the evil emanating from one’s own country. Because in this way, we can help our country become more beautiful.”
Source: Ming Pao weekly; #Mar15