China Gold Cryptocurrency
Gold and bitcoin prices will continue to surge as the dollar collapses to zero like every piece of garbage fiat before it. With cryptocurrencies in a near free fall gold investors in China can breathe a sigh of relief as the price of the metal rises and more Bitcoin investors are expected to shift to gold assets.
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Shenzhen issues Chinas first digital yuan insurance Illinois News 24 July 2021.
China gold cryptocurrency. Chinese citizens are only allowed to. By launching a gold-backed crypto currency that will devalue the US. When China announces as a surprise its 20000 tons of gold and a gold-backed cryptocurrency that will kill the US dollar deader than a doornail it will be a Pearl Harbor-type event and its coming in the next six to nine months he predicts.
In an attempt to move away from cash China is developing its own cryptocurrencies. The ultimate goal of a cryptocurrency is the separation of money and state says Stewart Mackenzie a cryptocurrency expert based in Hong Kong. Lower prices and volatility sent crypto trading volumes sliding 427 in June according to a report from CryptoCompare.
Gold-Backed Cryptocurrencies You Can Invest In. Chinas digital yuan could pose challenges to the US. He believes that China is about to launch a gold-backed cryptocurrency.
Major Chinese banks have taken measures to prevent customers from buying gold platinum palladium and other precious metal-related products through them. Cryptocurrency is fairly new especially when compared with traditional forms of payment like cash and gold. Like many other pundits Keiser says that China has a lot more gold than it lets on amounting to 20000 tons.
China Unveils Cryptography Research Center for Digital Yuan CoinDesk CoinDesk 24 July 2021. Chinas big move for the 21st century is to pull a trap door on the US. He says China is rolling out a cryptocurrency a lot of the details have not been divulged.
Dollar CNBC 24 July 2021. Over 50 billion of cryptocurrency moved from China-based digital wallets to other parts of the world in the last year according to a report by Chainalysis. Keiser added that bitcoin is a superior form of currency to gold.
I can tell you that the cryptocurrency that Chinas rolling out will be backed by gold. Cryptocurrency is on the rise but is it fools gold. Its a two-pronged announcement.
The Latest Word From China. Non-Fungible Tokens and IP Lexology 24 July 2021. The exodus of Chinese Bitcoin miners is the result of the countrys environmental policy efforts and Texas with some of the lowest energy prices in the world according to CBNC could be the new frontier of the crypto-gold rush.
Number one Chinas got 20000 tonnes of gold number two were rolling out a crypto coin backed by gold and the dollar is toast Keiser told Kitco News. Bitcoin mining doesnt take place in a real mine but is the creation of the cryptocurrency by powerful computers. It is likely that if the value if e-Yuan falls the government would step in to provide physical asset.
I can tell you that the cryptocurrency that Chinas rolling out will be backed by gold. There has been no official word from China regarding the use of gold to back its cryptocurrency project although there is no denial from the country that a crypto project is in the works. The Shanghai Gold Exchange also says it.
Since China is the worlds top buyer of gold and has been storing up gold in its bank reserves it wouldnt be surprising if this new cryptocurrency is also backed by gold. For this reason critics will continue to argue the intrinsic value of cryptocurrencies. 73 rows The Holdings Calculator permits you to calculate the current value of your gold and silver.
Binance remained the top exchange by volume falling 56 to 668 billion. He added that China is about to announce that it has amassed as much as 20000 tons of gold. That project has faced many stalls on its way to a launch that is.
He added that a second bombshell will be that China is about to launch a gold-backed cryptocurrency with the intention of destroying the greenback. China is known for recently purchasing large amounts of gold to back its fiat currency Yuan. Many believe that the hand of the government was forced with the announcement of Facebooks Libra crypto project.
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