Could China Dethrone The U.S. Dollar With A Digital Yuan?

Рет қаралды 383,279

2 жыл бұрын

The U.S. dollar remains the world’s de facto monetary reserve, but with China going full speed ahead with its digital yuan, that could be in jeopardy. Researchers are digging into regulated online money called Central Bank Digital Currencies, or CBDCs, and what that could look like in the U.S.
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Could China Dethrone The U.S. Dollar With A Digital Yuan?

Пікірлер: 1 900

@potatomatop9326 2 жыл бұрын

How are rappers gonna flex money on music videos now, by showing their phones?

@broketostoke 2 жыл бұрын

They'll just keep buying cars and chains and watches with money that isn't theirs...

@boricuaboy4e 2 жыл бұрын

Yeah instead of having it in money they'll have it on digital phone wallets 😂😂 all u see is phone flying everywhere with a digital dollar 😂

@DeusEx.Machina 2 жыл бұрын

I mean, if there’s a one good reason to switch to a CBDC, I think this is the best one.

@jayyyzeee6409 2 жыл бұрын

How will they make it rain at strip clubs with crypto?

@sillycybin420 2 жыл бұрын

@@broketostoke it’s all rented

@jayar98 2 жыл бұрын

When the Graphics department is on vacation.

@changthunderwang7543 2 жыл бұрын

I like the aesthetic lol

@jesuslover5968 2 жыл бұрын

I like this better ..easy on the eyes

@007thematrix007 2 жыл бұрын

+John Robert Villegas ..... paper graphics easier to decipher, especially ppl who think like 5 yr. olds

@IGot7RevtinyArmyStayOnceBlink 2 жыл бұрын

This aesthetic is pretty cool imo. 😂

@asadfami7623 2 жыл бұрын

🤣🤣🤣👍👍👍

@gg3675 2 жыл бұрын

"The digital yuan is the largest threat to the west that we've faced in the last 30-40 years." Damn I don't remember the last 30-40 years being THAT chill

@pettypractice7872 2 жыл бұрын

Well Kyle Bass is also a clown so I would take whatever hilarity he spews with a ocean's worth of salt

@gg3675 2 жыл бұрын

@Tony Montana The "dominance" of the dollar is not related to my wellbeing as an American. I'm working class. We used to have a very strong manufacturing sector where I grew up, but the dollar's status as the world trade currency arbitrarily makes American exports more expensive, killing American jobs and forcing my friends and family into hardship. "The west" to him doesn't mean America, it means the people who dominate the global financial system.

@Aramsa-Khan 2 жыл бұрын

Not to the west. More particularly to the US. Period.

@amobilway1032 2 жыл бұрын

Yeah, it really isn't a big deal. Especially since around 90% of all forex transactions are in USD.

@badluck5647 2 жыл бұрын

They said the same thing about the Euro supplanting the dollar 20 years ago. Also, no one outside of China is going to want a digital currency that is tracked and controlled by the Chinese Communist Party.

@PhilipMurray251 Жыл бұрын

Digital currency is the future of finance, anybody still in doubt of that isn't in touch of reality.

@Robertgriffinne Жыл бұрын

True, and bitcoin is at the core centre of this not-so-distant future.

@instinctively_awesome8283 Жыл бұрын

@@Robertgriffinne I guess so, but still don't have a firm grasp of how bitcoin works and what drive its volatility that is always constant.

@tradekings5433 Жыл бұрын

@@instinctively_awesome8283 Well, bitcoin's (and indeed all crypto) constant volatile state is mostly due to factors which include but not limited to: basic economic supply and demand, investor and user sentiments, government regulations across the countries that use crypto currencies, pump and dump practices and media hype. All of these work together to influence price volatility, which is why it's pertinent one (esp someone new) follows the guides of an experienced market pundit who already knows all the market maneuver. It betters your chance at maximum profit by more than 100%.

@Robertgriffinne Жыл бұрын

@@tradekings5433 was about to say same thing about the volatility till i read your comment. You easily outlined the market challenges and how to circumvent it.

@Natalieneptune469 Жыл бұрын

@@tradekings5433 you have any idea how one can find a sound adviser that may aid or probably give guides on how to stay above these challenges in one's investmnt

@ikennyikenny 2 жыл бұрын

people in the US are still using cheques , that says alot

@ncabcabin 2 жыл бұрын

What are cheques? Sounds like a Mexican dish.

@asianpleyco7964 2 жыл бұрын

@@ncabcabin fancy word for checks

@Liboch 2 жыл бұрын

I still have a pad of cheques/checks, last used more than 10 years ago, will give to my kids as inheritence, to be exhibited in museum.

@asphere8 2 жыл бұрын

Yeah the bit at 2:17 was what made me realise just how US-centric this video's perspective is. It's a whole video of "what if we did something ridiculously overcomplicated instead of just catching up with the technology the rest of the world is already using?"

@moreplease394 2 жыл бұрын

The only people using checks in America are old people and scammers and sometimes poor people who don't have bank accounts

@xXxserenityxXx 2 жыл бұрын

It's weirdly written like no single person is aware of how money works...

@luckyfisher7240 2 жыл бұрын

Jesus did.

@altumurnemtzra2026 2 жыл бұрын

except, this is not money... it's currencie

@SuperSky9 2 жыл бұрын

They don't.

@SuperSky9 2 жыл бұрын

@@altumurnemtzra2026 Its a scam. Anyone can delete your entire account and self driving cars don't work for free.

@starlete7starlete758 2 жыл бұрын

kzfaq.info/get/bejne/Z9WiqLh3qrSwqYE.html

@jukio02 2 жыл бұрын

What insures the wealth of a dollar, trust? Haha, more like the US military and police force.

@TheKb117 2 жыл бұрын

More like Democracy... if you oppose them, they will surely instill in you some Democracy that will shock and awe your a55e5 to the stone age, plus claiming whatever resources you have as re-education fee... IMHO

@user-qp4eq1oj5r 2 жыл бұрын

China is maintaining the credit of the U.S. dollar

@wv9529 2 жыл бұрын

More like the access it gives you to the goods produced in the US economy. money is backed by GDP not by trust. It boogles my mind why people cant understand that and just go around the place saying trust , trust ,trust.

@ThePowerLover 2 жыл бұрын

@@user-qp4eq1oj5r Actually, not.

@alexchia0121 2 жыл бұрын

While the world is already doing it. US is still discussing should they do it.

@michaelbishop3439 2 жыл бұрын

I think this country is totally conflicted on starting an American digital currency 💱

@Aramsa-Khan 2 жыл бұрын

They have only one thingy to consider. That is whether it will have any impact in the rich elitists. They will drag their feet if it does. The slow implementation can be inferred as they finding ways to circumvent it for themselves. Don't think they care for the masses.

@marygem 2 жыл бұрын

Yeah, let's have the banks and govt make and control computer money! What can possibly go wrong?

@Follower_Of_Xi_Jinping_Pooh 2 жыл бұрын

Nothing. Just don't buy that winnie the pooh plushy or your acccount will go negative.

@Manish-ud4sl 2 жыл бұрын

@@Follower_Of_Xi_Jinping_Pooh Endians the superpooper are everywhere

@Follower_Of_Xi_Jinping_Pooh 2 жыл бұрын

@@Manish-ud4sl Your name sounds like indian, are you one? LOL Or are you pakistani which looks exactly like indians?

@user-jc2wc9nu3e 2 жыл бұрын

@@Follower_Of_Xi_Jinping_Pooh india no.1 superpower jai hind💪

@dohc1067 2 жыл бұрын

If you are loyal you can eat if not you starve. Protest if you dare.

@josephgoldenberg9149 2 жыл бұрын

If I were a Bank, I’d be lobbying Congress not to allow this.

@bnco 2 жыл бұрын

It the bank that is lobbying set it up

@Commievn 2 жыл бұрын

@@bnco No, the private banks hate this CBDC. Because it threatens their existence. You see, private banks are like the middle-man, they borrow from the central bank (FED) with cheap interest and lend it to other businesses with much higher interest rate. Inshort, CBDC would massively weaken the private banks and strengthen the Government. That is why China adopted the CBDC, to have more control.

@perfectstudents8361 2 жыл бұрын

CBDC or digital currency will drive banks out of business. Their services are not needed anymore, except probably as lenders.

@xiaomose7495 2 жыл бұрын

@@Commievn well digital yuan will meet massive force from bank giant from the west. You know those shady banker that cause monetary crisis in 2008 😂they are still alive kicking and healthy with billions of money they cheated

@thomaskim5394 2 жыл бұрын

How are you going to not allow Chinese from using the CBDC?

@beverlyphillips9475 2 жыл бұрын

Success is about focusing Your energy on what creates results and using what you already know

@alansanders218 2 жыл бұрын

Assets that can make you rich!

@alansanders218 2 жыл бұрын

I.Crypto

@alansanders218 2 жыл бұрын

2.Stocks

@alansanders218 2 жыл бұрын

3.Shores

@harrytucker8555 2 жыл бұрын

@@alansanders218 You are right ma'am

@theobserver6755 2 жыл бұрын

Since 2 thousand years ago up until 200 years ago China used to be the center of global economy, China today is not rising, they just went back to what they used to be.

@TheFourthWinchester 2 жыл бұрын

That was India, not China. China was second.

@iROChakri 2 жыл бұрын

@@TheFourthWinchester Nah it’s China, not India

@johnlone1980 2 жыл бұрын

It was China, not India. Compare the discoveries and inventions in China vs India between 0AD to 1800AD. 10 times more inventions in China.

@umairsiddiqui9900 2 жыл бұрын

This channel literally just copied a video from Polymatter

@deadguy389 2 жыл бұрын

It's about China.... So it's okay.... I guess

@Jako4460 2 жыл бұрын

It took more than two days to make this video, so I don't think so

@MegaShooter32 2 жыл бұрын

This must be why they banned crypto mining.

@Dakidpepe 2 жыл бұрын

They can track watchu buy especially with dirty Money.

@LjubomirLjubojevic 2 жыл бұрын

Crypto mining is not "banned", main focus is to reduce electricity consumption because China has relatively cheap power plants but they run on coal, and Chine wants to reduce ecological impact on their population. Mining is still possible, just little less profitable.

@JohnSmith-iw4qs 2 жыл бұрын

@@LjubomirLjubojevic or maybe you can easily transfer money out of the country with crypto. That one thing the ccp doesn't want people to do.

@brendonchen2550 2 жыл бұрын

@@LjubomirLjubojevic really? Their c02 emission is its highest of all time . Hmmm

@LjubomirLjubojevic 2 жыл бұрын

@@JohnSmith-iw4qs as far as I know Chinese govt has banned govt/public companies and institutions from using crypto currencies, but private enteties are not affected, as far as I know. There is something about reducing electricity production from coal powerplants, but I forgot details.

@draugrdraugr 2 жыл бұрын

Never will it be fee free. A CBDC will just be another way for governments to tax more and manipulate money like they've always done. It's nothing like de-centralized crypto at all.

@ihatehandles3 2 жыл бұрын

People will not pay more taxes More people will pay the taxes

@pnthien21 2 жыл бұрын

@@ihatehandles3 But their government will force them to, sadly

@TheKb117 2 жыл бұрын

@@ihatehandles3 what will prevent them to not charge more taxes?

@fredericoduvel3092 2 жыл бұрын

what? you know you have to pay taxes on crypto and every transaction must be reported to the IRS. How is that anonymous?

@gg3675 2 жыл бұрын

Crypto markets, notoriously free of manipulation xD

@LaowaiDaveJCP 2 жыл бұрын

0:33 NO even if you go to a 5th tier city in China, the digital payments is everywhere used by millionaires to beggars(i mean literally beggar carrying payment QR code)

@youtubeuser1946 2 жыл бұрын

🤣😂

@Aramsa-Khan 2 жыл бұрын

Telling that to the white folks, they won't understand you at all... They only think that the digital Yuan is a threat to the USD. That is what they are fed with everyday by these fake media narrative.

@LaowaiDaveJCP 2 жыл бұрын

@@Aramsa-Khan exactly

@Eric345 2 жыл бұрын

What’s the difference between digital or physical money?? Isn’t credit & debit a digital currency already??

@microtasker 2 жыл бұрын

If Visa and Mastercard were run by the Central Bank, then your hypothesis makes sense, but they're not, are they?

@bestintentions6089 2 жыл бұрын

You will deposit money to the government so they will monitor all your transactions by default

@kyleharris3592 2 жыл бұрын

Do you know why goods are sold in USD from China? If not research!

@bk-go6905 2 жыл бұрын

I think the difference is in the way they operate.

@worldnews4347 2 жыл бұрын

@@kyleharris3592 becouse for china USD is worthless... gold have a technical value... If china could accept USD as payback, USA print as manny them to pay back all depth to china.

@didiaotrading4010 2 жыл бұрын

12:49 China can hardly be more digital than it is already. The vast majority of transactions are already be done through Wechat Pay or Alipay (Chinese equivalent of Venmo or Apple Pay). There are loads of people who still rely on cash today, like unbanked citizen, and senior citizen that are not comfortable with smartphone technologies. The rest of the population is already fully digital. This won't have changed in 5 years.

@Aramsa-Khan 2 жыл бұрын

Most people had electronic payment system, Alipay or Apple pay and what nots. In addition they can also carry cash though not in stash but minimal sum in case. It gives one a much wider choice.

@589supra 2 жыл бұрын

what about for cross border instant transactions then? thats the next gen of digital payments.

@NazriB 2 жыл бұрын

Lies again? Cheap ass

@lutaayam 2 жыл бұрын

I'm most excited about the threat of digital currencies to banks

@Wongseifu548 2 жыл бұрын

Yeah if it decentralized

@jermainemyrn19 2 жыл бұрын

Exactly

@yeetian2774 2 жыл бұрын

And The banks sport all Us elections…🥳🥳

@Jemz35 2 жыл бұрын

If banks don't exist the economy will fail, people won't be able to take out loans for houses and small businesses wont have loan to start up etc.

@lutaayam 2 жыл бұрын

@@Jemz35 central banks will still be there, and people will still be able to lend to each other only this time without banks playing middlemen

@bolesfamily1744 2 жыл бұрын

These people really understand limited elements of what is going on. This phenomenon is way deeper than they realize right now

@Dbbehsuzysgx 2 жыл бұрын

Ok so explain

@ismailnyeyusof3520 2 жыл бұрын

To China, a digital currency that is under the control of its central bank plays very well to its centralised economy management ecosystem. The benefits are fast allocation of resources while the drawbacks include amplified impacts of mistakes in the allocation.

@microtasker 2 жыл бұрын

Solid point; it's also the reason why they banned Bitcoin. They have no control over it.

@oceanwave4502 2 жыл бұрын

The government provides financial aids, asking the person to buy books and taking courses. But they use money to buy cigarettes, s*x toys, stuff... Currently, there is no way to prevent this. China's Digital Currency is the solution.

@jesterjames7633 2 жыл бұрын

but mistakes would be detected and corrected faster too.

@kickyouinhalf 2 жыл бұрын

Mistake in allocation? Why do you think your country is so poor? Did you ever think it might be as good as China's if your country could've allocated a few trillion away from its military every year that maybe everybody on the US would be a lot better off? Xi Jinping enjoys more than 90% approval rating and it's easy to see why if you've ever been to that country. Just ask your athletes or Americans living in China what they think.

@roboparks 2 жыл бұрын

@@microtasker The digital yuan IS NOT Block Chain Technology, It is NOT Cryptography Technology. Its a Fait currency in digital form . 2 completely different things.

@dbxlbruh 2 жыл бұрын

Why would anyone trust mafia’s money over system’s money?

@donnyvu1220 2 жыл бұрын

SMH. The only difference is how big their guns are.

@Follower_Of_Xi_Jinping_Pooh 2 жыл бұрын

@@donnyvu1220 And in one click you get negative account. If see your transaction buying that winnie the pooh plushy.

@ricecakeboii94 2 жыл бұрын

Cause the US systems currency is just as corrupt as the Chinese Mafia’s. Just a little more under the rug & leverages being slightly greener so they can bully other poor nations.

@Follower_Of_Xi_Jinping_Pooh 2 жыл бұрын

@@ricecakeboii94 US is corrupt sure but these guys are like 5-10 more corrupt? And these guys can't take criticisms at all. China: Aha! You buy winnie the pooh plushy! We nuke your house we know your gps coordinates ha!

@dnguyen787 2 жыл бұрын

@@ricecakeboii94 whatever, US currency is still the most popular one in the world now!

@9385dee7 2 жыл бұрын

So this is why they've banned crypo mining?

@TheM0joDoj0 2 жыл бұрын

Yes. This is a big reason. But also the mining in inner Mongolia was literally causing power outages in Beijing and they've been powering off crypto mining during the coldest winter months for years to reduce power grid load. It was inevitable China was going to shut off mining for good. If America reported the reality of China instead of propaganda, the mining ban wouldn't have been a surprise. The fact that China let mining continue past 2017 would've been more shocking.

@ttmn-vt4fx 2 жыл бұрын

Pollution is a great concern too. Crypo mining generally based on inner Mongolia and northern China (electricity is generally cheaper here) was wasting a large amount of energy and heavily polluting the environment. Besides I think the use of Bitcoin and stuff has never been legal in China (i might be wrong on this point)

@KASPA-KEY 2 жыл бұрын

China bans most forms of freedom. The CCP banned Google. BTC actually encourages green energy production. Battery technology is not advanced enough to make business sense to store and transport energy from rural regions into the urban centers where a bulk of energy demand is at. Because BTC operations can exist anywhere in the world miners can utilize power sources that are inaccessible at odd times. Miners incentivize utility companies to expand their renewable energy capacity long before battery technology is ready to make it viable to run the world 100% on clean energy. It is estimated that 50% or more of BTC mining energy is currently green. Don't believe the media FUD.

@crishhari5903 2 жыл бұрын

@@KASPA-KEY When did google start representing freedom. Google literally steals your data and sells it to advertisers or any highest bidder. As for bitcoin mining, as long as the energy produced is from renewable, that is fine but guess what, majority of energy production is still done by coal around the world. A quick search at your freedom friendly google could show how polluted bitcoin really is.

@crishhari5903 2 жыл бұрын

@@KASPA-KEY Knowing some truth doesn't mean you have to hate things. Did I every say I hate google or BTC? Or did I just give you some commonly known facts. I even said BTC mining done using renewable is fine. Also, stop comparing socal media with freedom. That is just insulting actual freedom. When did freedom start to be controlled by some billionaires in silicon valley. Honestly, I don't want to be like you and over read your likes and hates but i am curious how you support BTC because it protects your identity and data at the same time support social media who steal your information and sells it.

@SaurabhDalvispirit 2 жыл бұрын

US videos feel so weird when they use black white people and not just people.😅

@lostinmuzak 2 жыл бұрын

It’s way of showing how the black and Hispanic minorities suffer inequalities in the US society. If people don’t see it, it will never be addressed.

@afsalakkarammal6014 2 жыл бұрын

There is nothing ashamed of 🤷🏻‍♂️

@michaelbishop3439 2 жыл бұрын

They are showing those disparaging statistics for a freaking legitimate reason.

@johntran1352 2 жыл бұрын

@@lostinmuzak equal opportunities does not mean equal outcomes.

@jesuslover5968 2 жыл бұрын

What are you talking about

@Singular121 2 жыл бұрын

The problem is the whole world is moving into that direction whether we like it or not.

@silverhawkscape2677 2 жыл бұрын

And what's worst, that digital money isn't decentralized. Whoever controls it, can control your life. Can't buy and sell freely anymore. Worst if you are blocked access .

@jayyyzeee6409 2 жыл бұрын

@@silverhawkscape2677 Bartering is still an option.

@binqian2022 2 жыл бұрын

But US government can sanction them if they go different direction

@marczhu7473 2 жыл бұрын

It's like facts they don't care of your feelings. -said by someone popular in US

@lilgotti56 2 жыл бұрын

US is moving to a digital currency as well.

@gardawg 2 жыл бұрын

Gov: Digitize it's own currency Hackers: *Sinister smile*hehehe boi... 🤪

@chz8146 2 жыл бұрын

I think China’s main focus is to avoid sanctions and US interference. Displacing the US dollar $ will depend on cost of transfer and trust. Most people will go for cheaper cost of transfer including AMERICANS. Trust can easily be built if Cbdc transfer is fast. If Digital Yuan gives fastness, trust and far cheaper transfer cost, then bye-bye US $

@alfredolumba7936 2 жыл бұрын

And where would such “trust” come from??? The yuan is one of the most opaque currencies in circulation. As well I think you overate adoption yes American sanctions have been abused in the last 50 years but there is hardly a country that views China as incapable of doing the same. especially given its track record of being offend over things as simple as maps and subsequently threatening to cut of its customers base or recall diplomats. This digital attemp will further cement china’s grip on China but outside of China it will fall pray to the same issues it’s paper counter part is dealing with

@jackzhou4813 2 жыл бұрын

@@alfredolumba7936 Through trade to generate credit, China is now a major trading partner of more than 100 countries in the world.For example, your country can receive Chinese digital currency to trade with China. This will be much more convenient than using U.S. dollars to trade with China

@fredericoduvel3092 2 жыл бұрын

@@alfredolumba7936 China’s population is 1.4 billion, middle class becoming bigger and bigger. Let’s take tourism as an example, with most Chinese not used to paper money anymore, it’s likely that major tourism locations, shops etc. will allow payments in digital yuan. It’s an easy advantage over other shops that don’t offer that. All the tourists and business people visiting China will use it too(in the future there just won’t be an other option) and I haven’t even mentioned trade yet! The 1.4 billion users alone will make sure that it will become an international currency..

@tonybernoulli7859 2 жыл бұрын

Given the speed of how US print usd, hell yes! More and more countries will dumb usd

@gkheng 2 жыл бұрын

dumb ? dump? haha

@Commievn 2 жыл бұрын

@@gkheng dump* yes. But he is not wrong, if more and more country dump the U.S dollars, it will cause hyperinflation and the effect will be detrimental. Of course it won't be as worst as Venezuela or Zimbabwe. But most U.S citizen, especially the middle-class, will see their quality of life drop extremely fast.

@bronzedisease 2 жыл бұрын

But but the us has mostly itself to blame. It's way too reckless in QE

@simony276 2 жыл бұрын

That is the reality. USD is becoming trash.

@view1st 2 жыл бұрын

@@Commievn Could the United States rescue itself by using the the Special Drawing Rights of the International Monetary Fund as a back up currency if it got the European Union and others to agree? Similar to getting Saudi Arabia to agree to only trade oil and gas in US dollars, or western Europe to accept the US dollar as the sole international reserve currency for international trade over the hypothetical international currency the Bancor proposed my John Maynard Keynes? In other words, could the USA postpone or avoid bankruptcy and the collapse of the dollar by going over to a global currency?

@Tenchinu 2 жыл бұрын

I would never trust the government over my personal and financial data!! Now, Apple/Amazon on the other hand...

@starmacias 2 жыл бұрын

That's how I feel

@Humanaut. 2 жыл бұрын

That's why there is Ethereum, polkadot & Cardano. We will finally, as humanity have really true money based on mathematical principles alone that can not be printed or altered by any central power. No matter their rank or name.

@jarjarbinks6018 2 жыл бұрын

Lol at least people can choose not to use those methods

@vashsun4908 2 жыл бұрын

@@jarjarbinks6018 Can you? Tell me how you gonna avoid google?

@jarjarbinks6018 2 жыл бұрын

@@vashsun4908 >be me >need to buy a new vacuum >decides to go to local business and get vacuum immediately instead of waiting 2-5 business days for shipping >uses bank notes located in my wallet >supported my local economy by going to local business instead of giving money to the International Megamillion Mccorporation >life is content >tchau

@gracewilliams3333 2 жыл бұрын

Thank you, have been watching your channel for couple of weeks ago and it's really make sense and it really help me through..

@marktimothy9607 2 жыл бұрын

Like you said, those are the only two I see holding at this time.

@producermichael3480 2 жыл бұрын

If bitcoin miners are going to relocate from China to Texas, what happens when a mining farm suffers a power failure, how do the machines react, do they just restart or a loss.

@davidsamuel7425 2 жыл бұрын

@@producermichael3480 great question diatom, I think when the new location is active, they ping the rigs to the old location and transfer the logs and data

@harrisonallen2435 2 жыл бұрын

I love your videos as they provide me daily updates!!!, thank you so much

@miaaria6778 2 жыл бұрын

@Jonathan Eric As a beginner investing started trading with Cynthia donald with just about a thousand bucks. my portfolio is worth much more than now within just weeks of trading with her

@danyestrada100 2 жыл бұрын

"If people really knew how money works ... There would be a revolution" -someone

@yadsidhu4571 2 жыл бұрын

Henry Ford

@akltom 2 жыл бұрын

china is doing it, others are still trying to figure out how it works. 😂

@reaperleague2227 2 жыл бұрын

I'd vote against a digital dollar, knowing that governments love to keep a tab all my spending

@Aramsa-Khan 2 жыл бұрын

The govern won't tag everybody, not that they can't. They tag money launderer. That what they should.

@raunakshahi8485 2 жыл бұрын

The problem is that the US dollar became this widely used initially because of the relative stability of it in the world wars, China (removing all the safety problems that arise because of using a Chinese currency) is probably not gonna be as stable in any worldwide emergency situation and are probably gonna suffer more in any emergency because their economy is so reliant on exports and trade.

@jonjeskie5234 2 жыл бұрын

Plus their economy stands at the whims of a globally unpopular dictatorship

@ChilliRedify 2 жыл бұрын

Was thinking this

@naurasal9165 2 жыл бұрын

DIGITAL CURRENCY idea is not originated from China. It has been circulated for years in the West, but China is the first adopted it. Now, EU also will release Digital Euro. And so do some other countries will release their digital currency soon. It is not about Yuan VS Dollar, but about the trend. In a few years ahead, there will be another digital money beside Digital Yuan

@WANDERER0070 2 жыл бұрын

@@jonjeskie5234 western fake news don matter to China economy bro,and China has 150 friendly countries to trade with..go ahead and decouple LLL

@jonjeskie5234 2 жыл бұрын

@@WANDERER0070 so Western free media is biased? But state-run media channels are not?? 🤣👍 Look majority of the most powerful countries (G7+) in the world do not like China. China's success was not made by trading with small economies like NK. Chinas success was made by the West. Check the history.

@ej372 2 жыл бұрын

China literally kicked out the middle man to be the middleman, Anyways I came here to learn how to trade after hearing on the radio about the importance of investing and how one man gained $340,000 in just two months after investing $150,000. Somehow, this video has helped clarify some points, but I'm perplexed, I'm a novice, and I'm open to suggestions.

@sophiaadam9966 2 жыл бұрын

Now is not the time to be confused about investments, many people make so much profit from trading crypto, Nft's, stocks, and other financial markets. All you need to do is get the services of a financial advisor. Begin from there.

@ivanwalter596 2 жыл бұрын

Trading on your own without prior experience can be risky; you could lose all of your money. I recommend that you seek professional assistance because you will not be afraid of losing money and will also learn more.

@ej372 2 жыл бұрын

@@sophiaadam9966 I'm certain I'll require the assistance of an exp ert. Is there anyone that can give me a solid recommendation that I can lookup

@sophiaadam9966 2 жыл бұрын

@@ej372 George Wesley Oliver, a qualified broker, and a very reliable portfolio manager I know comes highly recommended. He has made a lot of money for me and I have successfully withdrawn money from my account, therefore he is really trustworthy and genuine.

@ivanwalter596 2 жыл бұрын

@@sophiaadam9966 I know George Wesley Oliver, and he's not like other brokers who start telling you stories and making excuses for why the trade didn't go as planned after you've paid them.

@lainopening4958 2 жыл бұрын

There are many fundamental flaws with having everything digital. Things like stolen money, no digital device, will central government track all payments? Too many questions. There is a reason why so many Germans use cash as well.

@Aeroliten 2 жыл бұрын

Credit cards with ties to physical money allow for that tracing for sure. Pure digital opens doors to a lot of fraud but cybersecurity is too far behind with most companies and banks for it to be remotely safe.

@jesuslover5968 2 жыл бұрын

The US hasn’t advanced in technology because the people with power are dinosaurs still living in the 90s…they don’t want innovation they want to keep things as they are because they are complacent

@mytattooskins Жыл бұрын

Then try that flaw to learn and upgrade the security.

@jaredspencer3304 2 жыл бұрын

0:56 That's not that case at all. Cryptocurrencies use *cryptography* to securely *decentralize* transactions. CBDC's are just digital money controlled by *central* banks. That's literally the opposite of cryptocurrency. *Decentralization via cryptography* is the entire point of cryptocurrency.

@waywardgeologist2520 2 жыл бұрын

And being centrally controlled means they can shut off an account at any time. CBDC are an ultimate tool for complete control.

@jaredspencer3304 2 жыл бұрын

@@waywardgeologist2520 Exactly. Crypto and CBDC are different in almost every technical and philosophical way. CBDC seems like a dream for government and regulators.

@fredericoduvel3092 2 жыл бұрын

You can control crypto as well. You have to pay taxes for it and every transaction has to be reported to the IRS now. So either way they know what you are buying and the FBI is only getting better at confiscating your crypto…

@shannonblack1394 2 жыл бұрын

Not exactly. Blockchains enable decentralization, it doesn't enforce it. There are plenty companies that use centralized blockchains. Based on that you can implement a CBDC as a cryptocurrency. That being said, all traded cryptocurrencies to date are exactly by definition what you are describing. But the idea of a cryptographically stored and validated ledger that facilitates the value of a single currency cannot be centralized is not true. The only difference between centralization and decentralization, is that a decentralized cryptocurrency uses the public network to validate transactions requiring complete transparency of the blockchains to the public domain, the centralized version is that only the private network does and because the validation is done in the private network, the public domain only requires a subset of the ledger.

@timkahn2813 2 жыл бұрын

whats funny is the guy saying money is becoming unpopular . THATS FUNNY !

@Beetwate305 2 жыл бұрын

It’s true ! PHysical moNey is becoming unpopular, dirty, nasty paper

@AdmiralBonetoPick 2 жыл бұрын

Remember, whenever a news headline is phrased as a question, the answer is always "no".

@psychout3481 2 жыл бұрын

A very intentionally outdated report to present the USD favourably. At 5:01, the reporter said that "currently" 62% of the reserves are hold in USD. False. That was in Feb 2019, more 2 years ago before the pandemic. Today the USD represents just 55% of the total reserves in 2021 Q1 and keeps decreasing in each quarter. Source: data (dot) imf (dot) org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4

@assai74 2 жыл бұрын

Underlying message: trust the federal reserve bank, trust digital, defend america against china

@MrJakeFan 2 жыл бұрын

？

@hwong1776 2 жыл бұрын

He is summarizing the video

@assai74 2 жыл бұрын

I guess

@assai74 2 жыл бұрын

Lets do this!

@chunkailau2448 2 жыл бұрын

@Simon Whittaker it’s like Zhina is threatening the very foundation of the civilised world rather.

@FinancialShinanigan 2 жыл бұрын

Soon only hipsters and rappers will be hording stacks of cash.

@Viviko 2 жыл бұрын

They won’t. For other countries to accept the Yuan as a reserve currency, China would have to be more transparent about it… Last I checked, China did no such thing as transparency.

@WANDERER0070 2 жыл бұрын

If you want to trade w China youll have to accept it,,simple..

@Viviko 2 жыл бұрын

@@WANDERER0070 Do you think that after the pandemic companies will still rely primarily with China? They are slready starting to diversify to countries like Vietnam and India. So, it’ll be harder for China to leverage that in the future.

@lingeshhazare8216 2 жыл бұрын

Cryptos are future because of all the manipulation by federal banks everywhere in the world 😂

@bobspizza7444 2 жыл бұрын

Yep no manipulation in crypto hahahahahahahahhahahahahhahaha

@danielparson4574 2 жыл бұрын

@@bobspizza7444 Yeah when just one person own several % of bitcoin, but to say there is no manipulation shows complete ignorance Satoshi, who if he is dead he heirs could crash the market buy selling there stash,

@paulw4487 2 жыл бұрын

As opposed to being manipulated by a new grad in their cushy new wall street gig

@razorblade7408 2 жыл бұрын

@@danielparson4574 what happens if most Bitcoin is acquired and then Satoshi sells. Yes I'm sure there would be a dip or huge correction. Read the genius block insight of his/her/them thinking It's quite fascinating

@wg4154 2 жыл бұрын

You have to two choices: Manipulation Regulation

@monkingflame9493 2 жыл бұрын

"The digital Yuan could have 1 billion users within the next 10 years" That isn't even the entire population of china. China has a population of 1.4 billion people so we are talking about a bit more than a third of all chineses using the digital yuan. by that standard the yuan would already be so powerful given that it is used by almost the entire population of china.

@henryeghaghara9385 2 жыл бұрын

this comment is seriously dumb, I couldn't laugh enough

@hj-bf1os 2 жыл бұрын

Lol yaun is already used by 1.4 billion Chinese. Digitising it won't change anything.

@fregmnt 2 жыл бұрын

I think he mean it would be easier to get Yuan

@oceanwave4502 2 жыл бұрын

Don't forget: oversea Chinese as well as Chinese tourists. In addition, countries within BRI. They all have incentives to use Yuan. And digital Yuan is simply too convenient.

@naurasal9165 2 жыл бұрын

@alsnow3582 2 жыл бұрын

We live in a country where it is believed that asking citizens to show an ID to vote is disenfranchising those that don't have the means to get an ID. What will those disenfranchised do if they need a cell phone to buy basic goods?

@hiddenlan9213 2 жыл бұрын

America is a master of exporting our inflation. The US dollar will stay forever relevant, at least for a long, long time.

@afzal363 2 жыл бұрын

😂😂 American Dream

@jpbrown7668 2 жыл бұрын

lol, China's been mostly digitized for the last 5 years. so being fully digitized in another 5 is not really that fast. I haven't used physical cash in years!

@monkfishkilla 2 жыл бұрын

Well that's a great story. You have every single move monitored: what you buy, where you go, with whom. Social credit rating, nice. Enjoy 1984. Maybe you will understand why the rest of the world isn't so hot on uncle Mao's ideology. We've had Hitler in Europe, we don't need another one

@shawnv123 2 жыл бұрын

@@monkfishkilla calm down douglas

@jpbrown7668 2 жыл бұрын

@@monkfishkilla It's adorable that you think you're not being as monitored over there. do you carry a cellphone with you? credit card? debit card of any kind? heck you're commenting on this platform, which you had to log into to do so... but I'm sure they're just gonna be nice and not track every single thing you do simply because you live in Europe

@psychout3481 2 жыл бұрын

@@jpbrown7668 Sssh. Don't pop his "free mind" bubble.

@monkfishkilla 2 жыл бұрын

@@jpbrown7668 how long did you live in China? I lived there for 8 years. There is no comparison.

@watchman835 2 жыл бұрын

It is not capitalism vs communism. But dollar vs yuan which is at the core of US Chinese conflict of interest. No state would like to lose the power of issuing free money to the world.

@aitorbleda8267 2 жыл бұрын

Well, the US has gone to war several times over defending the US dollar, and it makes sense to do so.

@hj-bf1os 2 жыл бұрын

@@aitorbleda8267 yeah true. If usa lost dollar war then their debt will be much bigger problem than today.

@robinfaigmane10 2 жыл бұрын

They really made their research! PH's GDP is very reliant in remittances and making it an example for remittances is very spot on

@beppeadr 2 жыл бұрын

Sorry, China is already complete digital. Very very few cases require cash payment, we are talking less than 0,1% of the total transactions. I personally didn't have or use any cash for the last 3 years.

@jasonleetaiwan Жыл бұрын

I get yelled at whenever I try to use RMB cash. I have no choice because I can’t use WeChat pay very easily. They have restrictions on it if you aren’t one of their citizens. It doesn’t always work for me. I have to keep trying and trying to transfer a few hundred RMB.

@beppeadr Жыл бұрын

@@jasonleetaiwan I am a foreigner too and never meet any kind of restrition or problem since China start use wechat pay and Alypay. It might be you do something wrong or some other issue maybe.

@jasonleetaiwan Жыл бұрын

@@beppeadr It may have been because my account was new so they wanted to make sure I wasn't doing something wrong with it. I left Shanghai shortly after that and haven't been back due to Covid.

@beppeadr Жыл бұрын

@@jasonleetaiwan That can be easly the reason.

@stupifyingstupedity2112 2 жыл бұрын

Ultimately, the only question that matters is who "owns" it or who corrupts it. How does it inevitably fail, not how it is pitched to work.

@jesuslover5968 2 жыл бұрын

They only way the us will do it if they can continue to control Americans and if they can corrupt it

@thomaskim5394 2 жыл бұрын

If we lose the dollar supremacy, the federal debt will be a big problem as we cannot keep printing dollars without the inflation.

@MubashirullahD 2 жыл бұрын

You get inflation both ways

@thomaskim5394 2 жыл бұрын

@@MubashirullahD The effect of inflation will be higher if we lose the dollar supremacy.

@linusmlgtips2123 2 жыл бұрын

@@thomaskim5394 We barely print anything to begin with. That's not how we control inflation.

@thomaskim5394 2 жыл бұрын

@@linusmlgtips2123 How do you the UD government is able to spend dollars they do not have?

@vineetpanwar3687 2 жыл бұрын

as long as there is petrodollar, non of this will work as prompted by experts in this video.

@binqian2022 2 жыл бұрын

US now is crude oil exporter, fyi

@John_Doe448 2 жыл бұрын

@@binqian2022 Still imports most of its oil from SA and Russia tho

@hj-bf1os 2 жыл бұрын

@@binqian2022 doesn't matter, dollar is stable and transparent. And also usa has largest economy and helps other countries if they use dollars to export.

@binqian2022 2 жыл бұрын

@@hj-bf1os Largest economy bubble for sure

@hj-bf1os 2 жыл бұрын

@@binqian2022 bubble or not for now they are no 1. And imports a lot, more than china.

@DurgaswaroopPerla 2 жыл бұрын

Anything anyone makes becomes a threat to the US. US economy seems so fragile!

@alanyeap8078 2 жыл бұрын

Usa now only consist of 25% of China export. 75% of export goes to over 140 countries. By doing settlement with yuan, the traders save lots of fees cos no longer need to convert to usd and then convert from usd to yuan. Each transaction is in millions and the traders can safe tens of thousands to hundreds of thousands by bypassing swift usd. The yuan circulation will goes wider as many countries now can choose yuan for transaction between countries as they need the yuan to order more products directly from China. Usd will suffer heavy blow. Cuba, north Korea, Iran can then choose to trade using yuan. 140 countries that do not depend on usa import export, will change to Yuen to start trading with Iran, Cuba,n. Korea.

@pascalpoussin1209 2 жыл бұрын

At 2:05 Kyle Bass talks about the USA having allies, is it so? And at 4:54 he says that the digital yuan is the largest treat to the west... Many think it's the USA.

@a11u45 2 жыл бұрын

The US is the greatest threst to the west? Is that what you're trying to say many think. Because if you are saying the US is the greatest threat to the west, you could not be more mistaken

@OKEN1117 2 жыл бұрын

Kyle Bass is he the guy who burnt his ass shorting renmenbi

@royroy8697 2 жыл бұрын

I dont understand the concern of the government having a record of transactions when banks already do this…

@King_of_Africa 2 жыл бұрын

What if that Government is a corrupt communists controlling entity?

@waywardgeologist2520 2 жыл бұрын

What you do with your money should be no one else's business!

@thanhvinhnguyento7069 2 жыл бұрын

Physical money has this amazing property of not being trackable unless you're at the right time and place of the transaction. It's a basis for privacy and other rights

@Saffy1 2 жыл бұрын

2:20 Can anybody explain to me why are people using apps to transfer money ? I mean you can do it directly from your bank app or website

@kylewollman2239 2 жыл бұрын

I agree with the downsides mentioned of getting rid of paper money, but I don't agree that if things are going digital that we should just leave it up to big tech firms like Apple so that they can have room to innovate. If privacy is your concern with digital currency then your concern about privacy should increase 10x when big tech firms are the ones leading the way.

@cccb2878 2 жыл бұрын

Thats why u need state-run companies

@victorcastaneda4308 2 жыл бұрын

Everything,I go to pay for something already been in line for say q0 minutes and then there is people r just gonna pull out their credit card ,they can't find it.This is going to be the same BS MONEY WILL ALWAYS BE KING

@robb1324 2 жыл бұрын

... Except that the Fed isn't made up of elected officials. So really you as an everyday citizen have absolutely no say in monetary policy. At least with most major cryptocurrencies, users get to vote on monetary policy.

@blainegabbertgabonemhofgoa6602 2 жыл бұрын

Short answer: No

@tnt4457 2 жыл бұрын

While it's not perfect, CASH will always be KING!

@Wongseifu548 2 жыл бұрын

exactly that why it will never go away too flexible and people know it

@Mrgreen2558 2 жыл бұрын

No you forget that Gold and silver is always king not the fake cash print money

@alexv1190 Жыл бұрын

@@Mrgreen2558 you can't carry that around

@Nolaready 2 жыл бұрын

China doesn’t play chess, they play GO! And if you look at how they positioned themselves globally, they are clearly winning.

@Tounguepunchfartbox 2 жыл бұрын

I don’t know. 4 years of Donald trump and they couldn’t even pull 1 US ally into their orbit. They’re failing.

@ronniebouchar9484 2 жыл бұрын

digital yuan bypasses SWIFT.

@Fire-ci4se 2 жыл бұрын

You brought Kyle Bass who has been losing money betting against China for the past decade?

@bronzedisease 2 жыл бұрын

I really really want to know how has he done

@Fire-ci4se 2 жыл бұрын

@@bronzedisease He bet against the Hong Kong currency peg to the USD, and has been losing money for a decade on that trade

@bronzedisease 2 жыл бұрын

@@Fire-ci4se It must be a rather miniscule position otherwise how the hell does he keep his job

@Fire-ci4se 2 жыл бұрын

@@bronzedisease He made a ton of money predicting the 2008 crash , so he has cash to burn probably

@dracovenit9549 2 жыл бұрын

Blockchain based currencies are not currencies, they are risky investments. Secondly they are another threat to the environment. Great job!

@johnlemma401 2 жыл бұрын

Wow Rest in peace US currency.

@BH-pl7vg 2 жыл бұрын

Hows this different than today? Y’all act like credit cards and bank accounts aren’t superior in this society. Who keeps all their money in cash on them (unless it’s dirty), everything’s already digital.

@bobspizza7444 2 жыл бұрын

It's alot different mister brainwashed. I use cash, I don't of hidden bank fees. Credit cards and bank card ARE NOT SUPERIOR. Just more convienant to alot. And the real truth is we have a choice currently. If all currency is digital we will instantly become slaves to the system. How do you not see this? Every unit of currency will be tracked, monitored,and taxed. If you are deemed to owe money to a government agency or anyone. They can just take it whether it's a real thing you owe on or a b.s. local government saying you owe some. You will lose freedoms faster than you can imagine.

@TheBooban 2 жыл бұрын

@@bobspizza7444 sweden is already there. We don’t need no stinking cdbc, blockchain, bitcoin or whatever bs. They claim that it takes days and fees to transfer money but for some reason i can pay for my meal in a different country instantly by credit card. And there will surely be fees to use digital money too. I don’t understand this discussion at all.

@coltzhao 2 жыл бұрын

In core, it is outside of USA “controlled” international financial system like SWIFT.

@mikicerise6250 2 жыл бұрын

@@coltzhao SWIFT has been dead for years. We use IBAN now.

@amjr6577 2 жыл бұрын

Soon you wont be able to NOT NEED A BANK tp have money....the banks are trying to own every cent u have

@theoryfoot5770 2 жыл бұрын

Fr thats the way I see it

@paisto 2 жыл бұрын

4:00 That map of the eurozone is a bit odd. France is different from the other countries? 5:00 According to IMF data, in the first quarter of 2021, 59,54% of world currency reserves were in dollars, not 62%. 6:35 The European Central Bank has launched instant payments in November 2018 without a CBDC, allowing instant payments between any bank in the eurozone, showing there is no need for a CBDC for this purpose. Several european fintechs offer bank accounts in several currencies allowing fast and cheaper transfers between countries.

@hakuhosho9802 2 жыл бұрын

Do we need physical money? Asking those people in flooding areas of German.

@cabellones 2 жыл бұрын

to be fair... I suffer a catastrophe of that type 10 years ago (January 2011 Rio de Janeiro floods and mudslides)... Believe me... money was the least of our problems... it took 2 days to clear road to help can come to my city... 5 to light return... about 10 days after... things were pretty normal.... food and water were being distributed and the biggest crisis I see was smokers withdraw... as was a non essential and a lt of places that may have were flooded or simply vanished in the mudslides.. add the stress and chaos of the situation and people got desperate for tobacco....

@royroy8697 2 жыл бұрын

Considering your plastic debit card has more odd of lasting against a flood than your paper dollars… / and if your house is flooded to the rooftop i dont think paying cash is your greatest worry.

@hhxx235 2 жыл бұрын

China has been stopping using cash many years ago, no shoppers/restaurants/shopping mall accepts cash any more, that is why it can advance to digital currency

@zeanamush 2 жыл бұрын

The Yuan isn't in global circulation. If they did people might independentally invest abroad and the CPC doesn't want that. Doesn't help the Yuan is way over printed, highly munipulatited, extremely opaque, and not used outside China. How is allowing China to know every transaction going to change that?

@bin.s.s. 2 жыл бұрын

Just a single word: trade, when China has nearly half of the world's trade.

@zeanamush 2 жыл бұрын

@@bin.s.s. That still doesn't change the fact that back in 2015-2026 when they thought about having a more regular currency it led to 1 trillion in capital flight. How can a controlling global currency be pegged to another currency.

@afsalakkarammal6014 2 жыл бұрын

How is this different than payment apps (upi- Unified Payments Interface )linked with bank account? Like gpay or phone pay in india

@dondp7500 2 жыл бұрын

With this... Government can easily track you. You know for your "safety and security"

@josamontiel408 2 жыл бұрын

2:14 "wtih" it just stood out straight away lol

@alantran1914 2 жыл бұрын

I bet uncle Sam would love this digital currency!

@alantran1914 2 жыл бұрын

@JJ R well, we the people have two: one local and one federal... did I answer your question?

@lexluthor4156 2 жыл бұрын

Great Britain: So US dollars is what it is now because it's was a superior currency? 🤣

@dool1002 2 жыл бұрын

Appreciate the concerns but in reality, people want a currency that's untraceable and unidentifiable. Some warlord wants to move money from point to point. A wealthy man wants to avoid paying taxes. That drug dealer doesn't want investigator questioning him on where the money came from. The world wants a little more freedom, not oppression...

@seanmong9524 2 жыл бұрын

Again, disappointing to see Eunice Yoon representing “China’s views” on this issue. Poor journalistic quality.

@MegaBlabla45 2 жыл бұрын

It seems like the US sees everything as a competition even though the Digital Yuan is just a domestic venture. Fact is the US dollar will always be the global currency for quite some time and RMB will probably remain in circulation domestically. That said, the US is really showing its cracks and the insecurities it bears are most evident in this video

@TheNightshadePrince 2 жыл бұрын

The is CNBC they’re a liberal news outlet that’s run by extremists like CNN is. They don’t represent what your average American thinks and wants. American’s love paper cash, and won’t fall for this scam. Also digital is useless after a hurricane or other natural disaster so this elitist child are insane. Also we have large populations of Amish and Mennonite in America who don’t use computers or complicated electronics. This would be an absolute disaster if this was put in.

@cartman19892 2 жыл бұрын

I'm sure the Roman empire and the British empire had the same thought :) big empire just like the us will always collapse one way or an other.

@Mongomentality 2 жыл бұрын

1:34 isn’t that so ironic???? I’m literally losing my mind over this it’s literally the opposite of privacy 😂

@cnbc-youtube7074 2 жыл бұрын

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@timemage88x13 2 жыл бұрын

Then there was a solar flare...

@SoundsOfTheWild3 2 жыл бұрын

I don't think it would be easily adopted internationally, plus China has a lot of capitol controls that I think work against it if it wants to displace the dollar as the world reserve currency.

@glennalexon1530 2 жыл бұрын

Dumb question, CNBC. Currency is not about paper money; even the US dollar is almost entirely electronic, and of course allows the use of Venmo, Paypal, electronic transfers, crypto purchases, etc... A Chinese state-sponsored payment app doesn't change anything. Don't pretend to be a business channel if you can't do basic homework.

@YouTubeFunHandle 2 жыл бұрын

What is missing in this piece is that how much the world will trust an authoritarian regime. Most recent havoc inflicted on DIDi is a reminder.

@ds-kj8fq 2 жыл бұрын

your version of the world , is white countries,japan ,and korea that is very likely to change when it comes to japan ,and korea in the future i can see some white countries will sink into poverty .i do not want to see anyone in the world to be in poverty

@ds-kj8fq 2 жыл бұрын

donald trump taught non white people a big lesson .pl do not talk about the world talk about your kind their are 200 countries in the world,and only some europeans,korea,and japan

@Humanaut. 2 жыл бұрын

@@ds-kj8fq What is wrong with you?

@andresiniesta9955 2 жыл бұрын

What the difference when America has wrecked havoc on the world economy with the 2007 GFC? And now they're printing 20+% of USD supply in merely a few months, debasing the reserve currency of the world which is essentially stealing wealth from the entire world's savings through currency debasement of the USD and inflation.

@alexv1190 Жыл бұрын

Exactly

@adamibrahim8263 2 жыл бұрын

Somalia is already using it. Over there they call it EVC Plus. You don't need cash to pay for the goods and services needed

@u2529 2 жыл бұрын

2:11 great editing guys!! (wtih) lol

@Metacognition88 2 жыл бұрын

Bitcoin sounds like a bunch of shenanigans and tomfoolery if ya ask me. I miss the days when we used to play jacks and checkers.

@NonchalantSquid 2 жыл бұрын

that’s what happens when you get old and have no neuroplasticity and/or will to learn anymore.. quite sad really. if you were still able to use your brain you might appreciate world changing innovation a bit more

@senseimenharachantv1130 2 жыл бұрын

Lol not just bitcoin there are more crypto/ digital assets are more far superior than bitcoin and it will help the world economy into a better place especially to our climate. BLOCKCHAIN is the INTERNET 2.0 in 1990’s.

@lancequek5203 2 жыл бұрын

The problem with most Stablecoins is that they can't survive a bank run

@rldays9179 2 жыл бұрын

The biggest problem I can see is that most countries who aren't keen to accept each other's currency, assuming that happens, are willing to accept USD. For instance, if I went on holiday in Bali and then flew over to Thailand, I could not go to the markets with the Rupia and try and buy something at Baht prices. But I could take USD and bargain with it. Basic but that's basically how it works as far as I can tell. Criminals will take USD over anything else. Even Bitcoin. This is the same issue with XRP until all countries use the ODL from the XRP ledger. Until then USD is keen and it will take a long time to get all countries to change that. That doesn't mean it won't happen but it won't happen overnight.

@SoGoMTB 2 жыл бұрын

0:03 Paper money was developed in China over thousand of years ago. Did the US steal the paper money?

@LS-xc3cm 2 жыл бұрын

No, the US used its status of as the world's reserve currency to imposed unilateral sanctions on foreign nations and to export its inflation by its irresponsible printing of fiat currency.

@La-Minita335 2 жыл бұрын

That’s no true, with WU you can receive the 💵 . The same day no need to wait that long.

@alantran1914 2 жыл бұрын

Cool! I will try it out when I am China for the winter Olympics!

@Man-of-war22 2 жыл бұрын

That was a good point. ' We trust AT&T AND CASH UP WITH OUR PERSONAL DATA ' But not our government who keep us safe......

@marianbarbu536 2 жыл бұрын

You people just wait for China and Russia to take care of your data.You never experienced Communism. Good luck with that!!!

@palimdragonmaster3k 2 жыл бұрын

This is going to make consumerism worse. This is why you carry cash when you want to save money instead of credit card because our smooth brains don't value digital money as much as physical tender.

@AdrianGordon1231 2 жыл бұрын

Why do they keep breaking everything down by race? 🤔

@johnlone1980 2 жыл бұрын

Racist country that enslaved one race and cleanse another!

@greenjoygardens 2 жыл бұрын

"It might not be necessary anymore with CBDC" AHAHAHAHAHAHA

@jessewatson8678 Жыл бұрын

I don't think anyone should implement a digital currency into a polarized nation. Giving either "side" the ability to freeze accounts or an excuse to do so, would be an absolute disaster.