First Mover Asia: China CBDC Is No Government Version of Bitcoin; Terra's Luna, Other Altcoins Jump

2/24/2022 2:42:00 AM

The eCNY and other CBDCs are digital versions of cash issued by a central bank, unlike bitcoin which has no single issuing authority; bitcoin surpassed $39,000 on Tuesday before dropping into the red.

A key tenet of China’s CBDC is control of the yuan. WeChat Pay and Alibaba’s digitization of fiat for use on their payment rails annoys the Central Bank...LUNA and other altcoins rise, but BTC lands in the red. TheSamReynolds and JPRubin23 report

The eCNY and other CBDCs are digital versions of cash issued by a central bank, unlike bitcoin which has no single issuing authority; bitcoin surpassed $39,000 on Tuesday before dropping into the red.

publishes a database that you can peruse to find Russian officials and oligarchs, Iranian hackers and Hong Kong’s leader Carrie Lam.revealed the name of its upcoming central bank digital currency (CBDC) after a design competition, only to receive backlash from the local crypto community.) plummeted below the moving averages and the uptrend line on Feb.By Feb 23, 2022 at 11:26 a.

Civil liberties groups are challenging the constitutionality of the court order over fears that it could happen again.For now, bitcoin fixes this.While the project is promising, its name could be easily confused with a decentralized exchange (DEX), and its logo is"terrible," according to the community response.But CBDCs? They are problematic.Source: TradingView The bulls tried to push the price back above the uptrend line on Feb.Where the comparison between bitcoin and CBDCs like the eCNY falls short is that bitcoin is decentralized and with no central issuing authority." It was picked as the winner by the central bank following a competition.CBDCs are a digital version of cash issued by a central bank.The cryptocurrency has risen nearly 15%, topping the $55 mark, outshining crypto market leader bitcoin's near 4% rise by a significant margin, CoinDesk data show.

Bitcoin and other cryptocurrencies use a decentralized ledger but CBDCs are a digital version of cash issued on a digital ledger..70, the AVAX/USDT pair could further slip to $65.CBDC’s digital ledger is similar to a permissioned blockchain, which is likely where the erroneous comparison originates.One of the key tenets of China’s CBDC is control of the yuan..Control of the supply of the money – WeChat Pay and Alibaba’s digitization of fiat for use on their payment rails – ensures that money can be cancelled.That could result in a rally to the psychological level at $100.Should you become too politically noisy, your wallet can be disabled.this logo cannot work.dollar.

During last year’s CoinDesk Consensus conference, Yaya Fanusie, a Fellow at the Center for a New American Security, and former CIA counterterrorism financing analyst, highlighted that China’s CBDC efforts were all about control using the example of H&Ms disappearance in-country over its support for a measure to remove Xinjiang Cotton from its supply chain.“This is really about data.A decentralized exchange refers to an exchange where there is no centralized authority, but rather a network of peer-to-peer nodes.50.The key thing here is that the central bank is, I think, inserting itself more into the payment architecture,” he said during Consensus 2021.“You’re creating architecture that gives the government a little bit more insight into transactions.In this model, the control of your funds lies in your hands and you trade directly with another person.” The truckers’ evasion of government sanctions by using crypto shows that bitcoin has nothing to do with CBDCs.Source: TradingView If the price once again turns down from the 20-day EMA, the prospects of a break below the strong support zone at $46." Pseudonymous decentralized finance researcher Westie that the deal is extremely important for Terra's stability, LUNA's value capture.

You can’t ‘’cancel’’ a bitcoin transaction like you can with a CBDC, and the only thing you can freeze are the fiat ramps in Canada.of the rejected designs? — Zj Sparks 九 (@Sparkiebaby) Some of the other competitors were not happy with the end result, either: Can't believe this beat my design lol : Image 2 (mines).Granted, an American CBDC or one made by a European country would have more privacy safeguards built into it than one from the People’s Bank of China.But Canadian banks are also subject to privacy law and usually require court orders to freeze accounts.That could sink the LUNA/USDT pair to the critical support at $37.Regardless of your opinion of the truckers, let’s hope Ottawa’s is the exception, not the norm, and that we do not have to prove if a CBDC would be easier to control than bitcoin.Technician's take Bitcoin four-hour chart shows support/resistance with RSI on bottom (Damanick Dantes/CoinDesk, TradingView) Bitcoin (.Meanwhile, LUNA has chalked up a near six-fold rally in the past 12 months.

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Recovery: Crypto Markets Regain $100B, LUNA Spikes 15% (Market Watch)While bitcoin has spiked by around 5% in a day, some altcoins, such as LUNA, AVAX, and ADA, have marked significantly more impressive gains.

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