Why China's Digital Currency Doesn't Matter

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3 жыл бұрын

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Пікірлер: 2 300

@PolyMatter 3 жыл бұрын

If you have Nebula, watch the extended version of this video over there. If not, why not? It's just $15/year and also comes with CuriosityStream - making it the best deal in streaming. curiositystream.com/polymatter

@mwaleed2082 3 жыл бұрын

Liar. The extended version on Nebula is only a minute longer.

@NatePrawdzik 3 жыл бұрын

$15/yr vs free. Hmm... let me think.

@flavioaugustojose 3 жыл бұрын

Subscribed to Nebula using your link about 2 months ago and not regretted, especially with each time more adverts on youtube. Just one thing: is there any way in Nebula to block channels I don't want to see there?

@_Mike.P 3 жыл бұрын

Cab you urge Curiositystream to accept PayPal? I don’t have a credit card (you don’t need one in the Netherlands).

@ymeynot0405 3 жыл бұрын

I really wish you'd mention the extended version at the top of the video. I live in an area where there is no unlimited broadband to the house so I burn 25% of the video worth of data before I leave KZfaq and go to Nebula. I don't find it on Nebula first because, A) the Nebula interface is inferior, B) I just roll into this content from videos like Seth Meyers & Colbert which aren't on Nebula.

@ihavetowait90daystochangem67 3 жыл бұрын

Why would we need a Digital Yuan to replace the US Dollar if we already have Robux?

@saims.2402 3 жыл бұрын

Facts, it is superior

@jeffdecarlos9618 3 жыл бұрын

I olny do business in Rs

@jankthunder4012 3 жыл бұрын

more like hobux

@evryatis2853 3 жыл бұрын

30% tax on every transaction We should really do something about it, its not like roblox needs faucets

@davchzt 3 жыл бұрын

Reject dollars, embrace robux

@booper9362 3 жыл бұрын

We all know zimbabwe dollar will take over

@LancesArmorStriking 3 жыл бұрын

Everyone can be a trillionaire

@happyguy2k 3 жыл бұрын

Lool 🇿🇼

@dirremoire 3 жыл бұрын

Z-pay does have a nice ring to it. I think they should go for it.

@joonas9976 3 жыл бұрын

Do you know what rapper 50-cent is called in zimbabwe ?

@rudramakadia1473 3 жыл бұрын

@@joonas9976 I know it's 50 million dollars

@WanderTheNomad 3 жыл бұрын

"The world chooses the dollar because of its stability, liquidity, and transparency." So like ice?

@LauritzenLucas 3 жыл бұрын

China is fire, it burns you.

@philipmolina1114 3 жыл бұрын

I knew those mf penguins were evading taxes

@dekaaizer2550 3 жыл бұрын

The fun thing is, the dollar is the opposite of stable and transparent.

@dekaaizer2550 3 жыл бұрын

@@LauritzenLucas Fire is also the source of all live. But what was the point of the original comment. Pentagon bot.

@philipmolina1114 3 жыл бұрын

@dekaaizer Everything changed when the fire nation attacked

@60secondfinance81 3 жыл бұрын

Next video on Wendover Productions: The Logistics of China’s Digital Currency

@holup977 3 жыл бұрын

I don't get what you are saying? Has wendover production copied polymatter in the past?

@adityajain6323 3 жыл бұрын

😂😂lol.

@somethinglikethat2176 3 жыл бұрын

@@holup977 narr it's just a stale old joke about Wendover doing logistics videos.

@Latinkon 3 жыл бұрын

Meanwhile at Real Life Lore: How much will a Toyota Corolla cost in Chinese digital currency?

@slslbbn4096 3 жыл бұрын

With the way the US is printing money and debasing the currency, the US dollar is going down the route of the now worthless Roman sesterces, the Byzantine hyperpyrron, the Spanish dollar and the German Weimar Deutschemark

@ChrMuslimThor 3 жыл бұрын

The puppet for the Netflix profile was a nice touch.

@yenawirahma1597 3 жыл бұрын

I understand Xi's Winnie the Pooh and Carrie's Puppet, I can't understand the Ho's one... Anyone can help?

@pokemonhacker01 3 жыл бұрын

@@yenawirahma1597 Same question!

@BrianYYH 3 жыл бұрын

I thought the Pooh one was hilarious

@milosm9280 3 жыл бұрын

@@yenawirahma1597 idk

@maxwelldubow7693 3 жыл бұрын

@@yenawirahma1597 A gambling chip possibly? That would make sense if it is Stanley Ho that they are referring to.

@thomasnoh5149 3 жыл бұрын

Imagine the solution to money was making it not real and giving it an expiration date.

@DZ477 3 жыл бұрын

In China, even your house has an expiration date. (70 years)

@amobilway1032 3 жыл бұрын

@@DZ477 it isn't even that it expires, a homeowner in China doesn't really own their home. The cost of buying the home is just someone renting it from the ccp

@matthewy543 3 жыл бұрын

@@DZ477 you can renew for a cheap price

@marajesty311 3 жыл бұрын

@@DZ477 Well that's the same in a lot of countries, in the UK flats usually will have leaseholds that last around 50-100 years

@user-fn6up2oq5e 3 жыл бұрын

@@DZ477 technically no but practically yes, your house doesn't have an expiration date, it's the land beneth it, in another word, you own the house but you rent the land. So fun fact, if you move your house off the original land it occupies, even right next to the original land, as long as it's not claimed by anyone, you just got yourself another 70 years free, I've actually heard story like this happened some where in some remote countryside; but for most people it's impossible, so practically yes.

@breadman32398 3 жыл бұрын

If fiat currency is only worth what the government says it is, then digital fiat currency is only worth what the government says it is to you. Fiat currency with a built in off switch. Make the government mad? Goodbye savings. USD can still be individually spent without anyone's permission.

@mangbecak1 3 жыл бұрын

This is so true. They can wipe off your whole family fortune with a click of a button. Who's to say they won't do it? They make people disappear with no fair justification...

@rishabhlenka4505 3 жыл бұрын

@@mangbecak1 They can't do it because fiat currency operates off trust. If they do it for one person, the entire world will lose faith in the USD and it becomes useless. Fiat currency is backed by the US Government, but it's worth what all of America, and all of the world, think it is.

@bunnyben5607 3 жыл бұрын

@@rishabhlenka4505 Right, and despite what other people might think, other countries do have a say in who gets embargoed from using the dollar. It's not some arbitrary decision, you have to give the government a good reason to do it, and it also goes through our allies. Really the worry that somehow magically one day that your bank is going to call you and say they're never going to give you service again is a non factor, absolutely ludicrous levels of paranoia (unless you're in international criminal that is).

@mangbecak1 3 жыл бұрын

@@rishabhlenka4505 who's t say China won't do it for one person? They already incarcerate you for mocking the anthem... They already have social credit scores, who's to say they won't make new rules?

@rishabhlenka4505 3 жыл бұрын

@@mangbecak1 I was speaking more on general terms with governments around the world. China and countries like it are probably screwed.

@Ushio01 3 жыл бұрын

I expect criminals in China to adopt the bling standard then, buy gold jewellery and use that as currency between themselves with only a fraction being converted to digital currency by selling it when needed.

@rupeshtashildar 3 жыл бұрын

Who's gonna accept the gold? They've to convert it into cash at some point with digital currency it's impossible and no one's gonna take your gold since they can't convert it either

@TriNguyen-he7xk 3 жыл бұрын

@@rupeshtashildar selling gold is not illegal that's the whole point of money laundering, to make your income look legitimate

@Low_commotion 3 жыл бұрын

@@rupeshtashildar People will always accept gold, but it's inherent disadvantages (heavy, hard to break into precise pieces) are what lead to the adoption of paper currencies in the first place.

@Ushio01 3 жыл бұрын

@@rupeshtashildar Cash for gold places exist everywhere since Chinese people buy jewellery in the good times and sell in the bad times too.

@rupeshtashildar 3 жыл бұрын

@@Ushio01 when you have gold higher than your official income you'll be caught.

@LeoN-wc9od 3 жыл бұрын

I saw no difference from the beginning, only more surveillance.

@mariusvanc 3 жыл бұрын

And control. It's easy to ban a person from participating in a digital transaction, but less easy from a physical one.

@runawaybuns 3 жыл бұрын

There is actually a lot of differences

@LeoN-wc9od 3 жыл бұрын

Poor people in China, they’ll continue to suffer even more. No one will use their currency that makes people suffer the CCP.

@adilkhanindore 3 жыл бұрын

@@LeoN-wc9od suffering in terms of job economy infrastructure transportation education health science technology all?

@coolbuddyshivam 3 жыл бұрын

@@LeoN-wc9od Poor People in China and other countries would still suffer because some govt can destroy their economy and decrease their wealth by just making their money printing machine go burrr.

@vishnuprasadbh 2 жыл бұрын

Corruption can never be taken out of the system, it just takes different form .

@rodrozil6544 2 жыл бұрын

Theoretically it can be

@davidk7441 2 жыл бұрын

@@rodrozil6544 If you remove humans from the equation, definitely

@neonbunnies9596 3 жыл бұрын

9:27 Hold up is that train going *though* a building? That seems both extremely cool and extremely dangerous

@bryanj2881 3 жыл бұрын

china has some weird places. cool though

@kavorkaa 3 жыл бұрын

Thats real,its in Chongqing in central China

@kissmyussr1993 3 жыл бұрын

Maybe not dangerous but inconvenient for sure. Imagine you sleep and a train passes 2 meters from you albeit behind a wall

@jumpinjehosephat1877 3 жыл бұрын

There's a highway that passes through the middle of a high-rise apartment building in Japan.

@infinityxtanishq8712 3 жыл бұрын

We’ve got one in New Delhi as well

@poondaddy9992 3 жыл бұрын

"it's called the Digital Currency Electronic Payment" you mean D.C.E.P. as in deception?

@mjbaricua7403 3 жыл бұрын

Missing an "e" bud

@poondaddy9992 3 жыл бұрын

Nope. Acronym. You pronounce the D by it's name which is De

@KingMinos316 3 жыл бұрын

"paying with your phone is more convenient than cash or card"-pretty sure my wallet can't run out of power or lose signal.

@nicoz4122 3 жыл бұрын

Living in China... Was stuck once one hour in an underground parking lot because there was no other way to pay the parking fees. My phone's battery was dead. And I had a tense argument with that parking management because they didn't offer any other means of payment. So, I had to go out buy a charger, find a Starbucks, charge my phone and be able to leave (and of course pay one hour extra)... Just amazed me.

@humphreychannel582 3 жыл бұрын

A dead iPhone can still pay for me to get on public transport.

@FYTT5349 3 жыл бұрын

That's why you can rent a powerbank everywhere in big cities in China

@brandonhuber7490 3 жыл бұрын

@@nicoz4122 That is horrible service.

@cbrtdgh4210 3 жыл бұрын

@@nicoz4122 yeah if your phone dies unexpectedly, you are royally screwed. I remember going around searching for Ofo bikes (don't exist anymore!) that were unlocked so I could get home after a night out in Shanghai.

@atari460 3 жыл бұрын

I live in China, the digital yuan was launched a few weeks ago and chinese citizens can already put money into it. it's a bit confusing to set up though and not a ton of people are using it or care, at least for now

@holup977 3 жыл бұрын

Genuine question: will they lower your credit score if they read this?

@sinoroman 3 жыл бұрын

Sounds about right. That’s how it is for al initial start ups

@JR-vc4gm 3 жыл бұрын

@@holup977 and i can confirm this is not a genuine question. The end.

@aaronwatland987 3 жыл бұрын

@@JR-vc4gm what ?

@creative_cooper 3 жыл бұрын

"at least for now" that's what happens when something is new, people tend not to use it. Just give it say 5 years.

@avppr3451 3 жыл бұрын

TLDR: Hell nha

@philipmolina1114 3 жыл бұрын

The Venezuelan bolivar will dominate the financial world through sheer quantity alone. Invest in it now!!!

@thesmuggest6680 2 жыл бұрын

@@philipmolina1114 Now invest in Zimbabwean dollars.

@domenico_ginny6164 Ай бұрын

@@thesmuggest6680the trillion dollar bill 💰

@fa11en1ce 3 жыл бұрын

The digital yuan can't even replace the regular yuan

@JR-vc4gm 3 жыл бұрын

It's not meant to replace regular yuan.

@Rawhen_Rajew-aka-Rajubhai 3 жыл бұрын

@@JR-vc4gm He meant that since it can't replace regular yuan, it can't replace the us dollar too

@user-og6ws6cy5l 3 жыл бұрын

Since almost everyone in China uses their phone to pay, I think the government could just switch it and no one would even notice.

@fitrianhidayat 3 жыл бұрын

it's China, they could forced it if they want too

@iamfromasean705 3 жыл бұрын

What are you talking, almost every Chinese citizen using digital yuan

@hgbugalou 3 жыл бұрын

A purely electronic form of cash bound to one of the most authoritarian government on the planet. What could go wrong?

@E4439Qv5 3 жыл бұрын

Absolutely nothing. 🔥 This is fine. 🔥

@alilabeebalkoka 3 жыл бұрын

More human rights abuses from Dictators in other parts of the world. As China mines their own business. Less freeing of money. So basically money can flow around the world more smoothly with less ethics involved! Carrie Lamb will finally get a bank account as well!!!

@FakeAssHandsomeMcGee_ 3 жыл бұрын

Won’t China need to run deficits like the US for the Yuan to circulate the world and be dominant?

@sangwoohan1177 3 жыл бұрын

Can you elaborate on the deficit part? I don't see why that wpuld be a requirement.

@FakeAssHandsomeMcGee_ 3 жыл бұрын

@@sangwoohan1177 One of the reasons the US dollar circulates is because the US imports more than it exports. That is a reason China has a huge pile of US dollars (nowadays in US assets like treasuries).

@eddy-currents 3 жыл бұрын

@@FakeAssHandsomeMcGee_ Countries pay for exports by selling domestic currency for foreign currency, which is then used to pay the foreign merchants in their own currency. So no, that's not why China has a lot of USD.

@coolbuddyshivam 3 жыл бұрын

Dollar dominates because opec countries don't want to get liberated. Also, countries across the world don't want their billions of dollars in reserve to become worthless overnight. So, despite all the harm it does, they want to hold on to it. Deficits have nothing to with it. They don't make a country prosperous, rather they make a country go broke.

@FakeAssHandsomeMcGee_ 3 жыл бұрын

@@eddy-currents I said one of the reasons. _Countries pay for exports by selling domestic currency for foreign currency, which is then used to pay the foreign merchants in their own currency_ That is usually what happens. When the US was running a deficit with China many said that the USD being converted to Yuan would eventually cause the Yuan to increase in value (since there was demand for Yuan due to the demand for Chinese goods). Eventually making Chinese exports expensive, but the Chinese Government was doing the whole currency manipulation bit for awhile causing the Yuan to remain cheap vs the dollar for a long time.

@pineappleanimates 3 жыл бұрын

only the early ones will remember the title being Will the Digital Yuan Replace the US Dollar?

@jeffbenton6183 3 жыл бұрын

Well, thanks to you, even us slowpokes remember.

@wilsonanderson1415 3 жыл бұрын

Yeah i remember that

@jebusslaves9297 3 жыл бұрын

when you share the link via another app, it still shows up with the original title in the thumbnail haha

@nahx6205 3 жыл бұрын

"If this sounds revolutionary.." *One solar flare would like to know your location*

@minimumsolow.7535 2 жыл бұрын

I forgot those existed, but China would go into chaos as everyone would lose their money ... we should let them transition to digital...

@shinchan-F-urmom 3 жыл бұрын

I woke up from a 100 year coma, *where is the British Sterling?*

@zakariaali8864 3 жыл бұрын

He's at Man City

@sevenriversb3704 3 жыл бұрын

ummm it fell after failed colonization

@xoogkage 3 жыл бұрын

@@sevenriversb3704 I mean they had 25% of all land and gave most of it up willingly I wouldn’t say the colonial era was a failure

@sevenriversb3704 3 жыл бұрын

@@xoogkage the comment was from the perspective of india and china

@xoogkage 3 жыл бұрын

@@sevenriversb3704 I know what kind of horrific things the British done in India and China but from an economic stand point it wasn’t a failure even in those areas

@Huntracony 3 жыл бұрын

Interesting system: clickbait thumbnail, honest title.

@rileythompson5391 3 жыл бұрын

Wasn’t really clickbait, it was a question he took a legitimate look at during the video.

@wubs2398 3 жыл бұрын

You guys should upload the audio of your videos on spotify, i would like to listen to these.

@Nah_Bohdi 2 жыл бұрын

Yeah, even without the graphics. I often turn youtube videos into MP3s and listen them throughout the day.

@maroindefinitlyhuman6857 3 жыл бұрын

So basically we get from bad to worse.

@leonleon2021 3 жыл бұрын

What?

@Dawid-kn6mv 3 жыл бұрын

We will if the west will follow the example.

@Low_commotion 3 жыл бұрын

Yes, as the US will inevitably also introduce a CBDC. Crypto would be a reversal of this though. Look up Balaji Srinivasan on Tim Feriss' podcast.

@alezar2035 3 жыл бұрын

@@Dawid-kn6mv the EU will have the digital euro very soon, it's already been announced

@Dawid-kn6mv 3 жыл бұрын

@@alezar2035 EU is decaing anyway so it's not worry for the long term.

@pirincri 3 жыл бұрын

What's the difference between this and a state-run payment processor?

@KneelBeforeBlue 3 жыл бұрын

Nothing.

@Low_commotion 3 жыл бұрын

Greater monetary controls at the individual level.

@Low_commotion 3 жыл бұрын

@@cz4590 If you take governments at their word, sure.

@harshjain3122 3 жыл бұрын

@@cz4590 yeah. No shit that's what he said in the video. He made a video on your point of 'no one carrying wallets' and such, how u skipped credit cards in another video, went into great detail....he loves Chinese governments' way of doing things, how unique it is and probably knows more than u or me. . And please, china does want to replace the USD. Even EU would drool over such a dream.

@shawnli9284 3 жыл бұрын

swift

@debasishraychawdhuri 3 жыл бұрын

When she said to the public that she keeps her money in cash after the US put sanctions on her, we all thought she was kidding.

@SocialMedia-yp8wj 2 жыл бұрын

We have a very similar system in our county and honestly mobile banking is like having an ATM card and a bank Account without having one. Though it is not a fix for all financial transactions it's like cash app but with legit banking features.

@whats82 3 жыл бұрын

"There will be nowhere for corrupt politicians to hide" Allow me to press X, repeatedly.

@chuang4254 3 жыл бұрын

"there will be nowhere for corrupt enemies of the ruling party to hide" is more accurate

@ZQQHello1919rty 3 жыл бұрын

Silly, corruption can be done offshore without going through the local system, or other form of corruption can happen gold, diamond, high end branded products, etc.

@DroneStrike1776 3 жыл бұрын

They're trying to ban the hard currency in general. So all those people who had been laundering money can't convert that paper into currency, making it into toilet paper. More ways for the government to track everyone's movements and purchases. They're terrified of an uprising.

@imonbanerjee2997 3 жыл бұрын

@@DroneStrike1776 that never works actually. See demonitisation India 2018. They tried and burned the economy

@imperialofficer6185 3 жыл бұрын

You aren't going to bribe a traffic cop with that. High-level corruption is not a target for the CCP because it is the purpose of the CCP

@theramendutchman 2 жыл бұрын

Okay, but trading in gold, diamond or high-end branded products is far less stable and far more difficult; what if someone doesn't accept diamonds? What if they do, but you can't get your hands on some? Cash is much easier for criminals, so by effectively replacing cash by mobile banking, they *are* making crime much, much more difficult.

@trollmcclure2659 2 жыл бұрын

@@imperialofficer6185 Another guy who thinks that only a few guys are in the Chinese government while it actually has close to 100 million members

@khalilsherwani3713 3 жыл бұрын

The Xi reference with the Winnie the Pooh is hilariously good

@bjarkih1977 3 жыл бұрын

Mobile payments are also the norm in Sweden.

@anshchaudhary9193 3 жыл бұрын

Well not the norm but growing very fast here in India too.

@AO00720 3 жыл бұрын

Somaliland is way ahead of you two.

@l1mbo69 3 жыл бұрын

@@anshchaudhary9193 it most certainly isn't lol People thought it would grow after demonetization forced everyone but nope

@chedkosovac8320 3 жыл бұрын

Swish is standard. I think it's a great system in Sweden. Taxes high af though.

@kgovind2171 3 жыл бұрын

@@l1mbo69 i think it is growing really fast cause i see many people nowadays using it in malls to even smaller shops

@timetodestination9538 3 жыл бұрын

The Chinese city that is flooding ATM is out of electricity and tab water. People are buying bottled water in grocery store with cash. Digital RMB will just never be international.

@cubemanXD 3 жыл бұрын

That's a horrible example. If a city is flooded then credit cards won't work either, but that doesn't mean that the credit card isn't the dominant way of paying in the US or Europe...

3 жыл бұрын

Could you please consider putting closed captions on your videos? It would be awesome. Thanks!

@zetajolyne3689 3 жыл бұрын

Digital Yuan support dual-offline transfer, which means you don't need internet, just a device which can hold the Digital Yuan and communicate with other machine.

@bestintentions6089 3 жыл бұрын

It also supports social credit score when you misbehave your loose all your money

@Clarity520 3 жыл бұрын

@@bestintentions6089 oh yeah tell me about it

@bestintentions6089 3 жыл бұрын

@@Clarity520 prison money 😆

@dirremoire 3 жыл бұрын

@@bestintentions6089 True, but any central bank digital currency will have that same feature. In the US, I forsee the IRS calculating your taxes and pulling your "payment" directly from your wallet. Refunds will be ancient history.

@pastasoo 3 жыл бұрын

@@bestintentions6089 contrary to your name, you sound like a horrible person

@nilnil8072 3 жыл бұрын

Why do people keep thinking that China will be like the US ?

@BasicLib 3 жыл бұрын

Cause they’ve made it clear they want to ?

@Paradox1012 3 жыл бұрын

Many people in thr western world trying to side with china are trying to bet that china will liberalise and democratize. I dont see how that bet is at all sane l,considering the exact oposite is happening. But its thier bet I suppose.

@BasicLib 3 жыл бұрын

@@Paradox1012 I think some People just want the US to be toppled for a verity of reasons I’m Not Western myself but even I can see China with the power and reach of the US would be a lot less charitable than the US which itself is pretty much selfish as fuck and self serving, but at least feels guilty for its crimes. China hasn’t straight up recognized any wrong doing it has ever done. That level of self serving arrogance backed up by Chinese history is almost unique in scope. I don’t know about others but I for one would not wish for their dominance over the system of global power which they have made clear they intend to do.

@captaindak5119 3 жыл бұрын

@@Paradox1012 I doubt most people believe China will become democratic. Most people who I see defend China, don't preach about democracy or claim it will be democratic. Some people (including myself) prefer a multipolar world rather than a world dominated by a single country.

@Paradox1012 3 жыл бұрын

@@captaindak5119 see that's what i thought, my uncle is a fan of Elon musk and I asked him why he would even invest in china if China is just going to take and repurpose all of his technology and product. and he said he and other billionaires are betting china will become liberalised. we both mostly agreed that it's a pretty shity and unlikely bet,but they see the money and do it for some reason, even though they should be smarter than that.

@dasupalouie 3 жыл бұрын

Everyone in the chat: Yeah cash is king! Everyone in the chat in real life: Debit please!

@mekichiew8282 3 жыл бұрын

Convenience aside, cash is dirty af, and we're in a pandemic, i ain't touching a piece of paper that *_might have_* been used as a tissue replacement during its lifetime. Germs like viruses or bacterias can survive on it longer than any other surfaces after all.

@LordDaedalusTelvanni 3 жыл бұрын

The point here is, we have a choice. You can choose to do daily transactions with the most convenient system, but also do certain transactions (or save) in cash

@DroneStrike1776 3 жыл бұрын

Either way, at the end of the day, it's cash. Your crypto, your bonds, your gold, etc., it all comes back to cash.

@DroneStrike1776 3 жыл бұрын

@@mekichiew8282 Wash your hands. Duh, you should do it often, even without the pandemic. I wash my hands before I eat. I sanitize it when I touch something when I get back to my car and have alcohol wipes just to wipe my phone. I've been using hand sanitizers way before for this pandemic. Always had a bottle and alcohol wipes in my car.

@yonathanrakau1783 3 жыл бұрын

Bruh, we all know crypto is the future

@Zafuer2311 3 жыл бұрын

I missed the English subtitles that you have on your other videos. They make your videos easier to understand.

@erixon2012 3 жыл бұрын

I like that easter egg you put in with netflix icons :)

@ultimate5s410 3 жыл бұрын

Excellent, excellent video. Seriously incredible stuff

@wangjacky5295 3 жыл бұрын

One interesting fact one would ignore easily--the transaction of digital yuan, unlike wechat pay or ali pay, does not require internet. It utilize NFC technology and if they design the digital wallet well transction could function even when you phone is powered off.

@pranavpatil1362 3 жыл бұрын

i guess you mean out of coverage, nfcs don't work without power, also they are only possible to make Payment if the recipient is in feasible distance.

@wangjacky5295 3 жыл бұрын

@@pranavpatil1362 Yes thanks for clearification. For NFC I guess what I really meant was it could function just like your bus card, which could work when the giver is not powered, but the reviever has to have power. But yes, neither of them needs Internet coverage.

@mullerbryan4106 2 жыл бұрын

A NICE VIDEO, EVERYONE OlNEED MORE THAN THEIR INCOME TO BE FINANCIALLY SECURED.THE BEST THING TO DO YOUR MONEY IS TOINVEST IT BECAUSE MONEY LEFT IN THE BANK ALWAYS END UP BEEN IN ONE WAY OR THE OTHER WITH NO RETURN.I USED TO BE A VICTIM OF SUCH,NOT ANYMORE.I INVENTED AND MAKE STEADY PROFIT.

@philipgray2827 2 жыл бұрын

The pandemic has taught everyone the importance of having multiple streams of income,unfortunately having a nice paying job don't mean you are financially free if secured.

@philipgray2827 2 жыл бұрын

with the consistent weekly profits I'm getting from my investment with Brenda Adams,I have no doubt I am really financially free and safe,she is the most reliable in the market now.

@edwardkester8981 2 жыл бұрын

investments is that tiny line that separates the rich and the poor.the words from other.i can proudly say I am a wise woman to because I can provide for my family through my investments.

@edwardkester8981 2 жыл бұрын

Ever since I stop working with my former employers,I have been surviving through my investment with Brenda Adams,am so glad I invested when I did,months ago I was able to raise money to strat up my own firm.

@tylerlopez107 2 жыл бұрын

I'm in need of a good trading company, I'm a newbie,I would love to invest. How do I get to Mrs Brenda Adams?

@OrangeC7 3 жыл бұрын

6:55 Until I watched this video, I did not know that Chinese Coca Cola has a different logo. I knew they had a Chinese spelling, but I didn't realize they formatted it into their logo too.

@patrik5123 3 жыл бұрын

Thanks for linking straight to the Nebula episode. So much easier to get to it from here.

@AnonymousMC 3 жыл бұрын

Only people with notifications will know that the original title was "Could The Digital Yuan Replace The US Dollar?"

@AnonymousMC 3 жыл бұрын

@I Exactly

@user-vv7ir1pl4j 3 жыл бұрын

@I I’m certain he’s anti China now

@sinoroman 3 жыл бұрын

Im willing to bet this channel is funded by fg

@AnonymousMC 3 жыл бұрын

@@user-vv7ir1pl4j Lol

@AnonymousMC 3 жыл бұрын

@@sinoroman What?

@zengquan5067 3 жыл бұрын

Love your music, scenes, and your way of explaining, thanks from China

@dezeekat 3 жыл бұрын

You forgot to mention that there is term "Petrodollar" Which means that oil exchange officially is only done in Dollars. That is one of the biggest drives behind Dollar

@watchm4ker 3 жыл бұрын

That's part of it, but the US Dollar became a universal reserve currency because the US basically had everyone's money and gold after two world wars.

@gregoryscott1076 3 жыл бұрын

I have been watching some videos and I was thinking about investing but still don't know where to start from.

@mli3793 3 жыл бұрын

In Sweden we already have a digital currency pretty much

@luisoviedo-perez2896 3 жыл бұрын

Digital causing problems and pretty big ones at that. Even the reality in Sweden is not quite that neat and clean cut. There are certain draw backs from a pure digital currency.

@mli3793 3 жыл бұрын

@@luisoviedo-perez2896 Yeah my father earned some money on the side to selling to Swedish tourists while we were in Thailand. All payed in cash and when we got back he practically couldn't use it because no bank wanted to accept the deposit because they couldn't track it.

@luisoviedo-perez2896 3 жыл бұрын

@@mli3793 yep. sounds about right

@aratirao9007 3 жыл бұрын

⚽ SERCH ADITYA RATHORE, HE ALSO MAKES INFORMATIVE CONTENT LIKE POLYMATTER ON U-TUBE⚽

@xdriedxproductions566 3 жыл бұрын

1:24 Winnie the Pooh reference 😂

@rozafisheikh7968 3 жыл бұрын

I was about to comment the exact same thing!

@ddjohnson9717 3 жыл бұрын

bit un professional tbh. Image a video discussing US government but label Biden as "sleepy joe". Acceptable but unprofessional.

@harsh_adukia 3 жыл бұрын

You should look into UPI . It is somewhat similar but much unique

@petterbirgersson4489 3 жыл бұрын

0:12 Volvo 240.

@humorss 3 жыл бұрын

It doesn't even quality as digital currency. It's centralized, flow tightly controlled, no free exchange. It's more of a game credit used in the game China.

@frds_skce 3 жыл бұрын

Exactly. What's the point of digital money if it could be gone just by unplugging the server?

@seanlee3863 3 жыл бұрын

It's digital but not crypto you mean?

@humorss 3 жыл бұрын

@@seanlee3863 not crypto. It has interesting feature such as being able to send money offline if face to face, blockchain don't work like that. Its good for controlling the chinese people, the government can take your wallet away if they see fit. The beta testing of this game credit stopped recently, likely got a hell lot of bugs. Think about the amount of resource needed to run this game for 1 billion players.

@seanlee3863 3 жыл бұрын

@@humorss mhm, tbh any govt can "take away your wallet" if they see fit. Try not paying your taxes for a few years and you'll have your bank account frozen so I think that's just scare mongering. Of course there's going to be bugs and holes, that's the point of the beta testing. However I do personally believe that the main purpose of this is to build a back up against the US sanctions since US basically control the SWIFT system and digital money can bypass the SWIFT hence why this digital currency really took off when trump got in office. I doubt cash will fully disappear because that would require everyone in china to be connected to the internet and have mobile phones....I can't see that happening within a generation or two since china still have a large rural population

@retrogasm5651 3 жыл бұрын

@@seanlee3863 Other governments are still subject to their own laws. China doesn't really have a stand alone private sector and the corruption seems rampant. No one is going to touch the digital yuan if it means being subject to the whims and vagaries of the communist party. Tesla learned that lesson the hard way with it's chinese factory.

@mynameismud08 3 жыл бұрын

Coming from a Nebula subscriber: Nebula sucks, please stop making me use two separate platforms.

@skysunknownheroes 3 жыл бұрын

Honest question, what makes nebula sucks? How does it compare to, for example Floatplane? And how's CuriosityStream?

@mynameismud08 3 жыл бұрын

@@skysunknownheroes To be honest Nebula isn't the problem. The problem in my opinion is creators using both platforms. Lately I've just stopped watching channels where I have to go to Nebula for the full story.

@skysunknownheroes 3 жыл бұрын

@@mynameismud08 yeah it's kinda annoying sometimes, why even post on KZfaq, or just label their videos "PV" or "Preview"

@johnsmith-ir1ne 2 жыл бұрын

I'd love to subscribe as a paying customer of Nebula but one thing stops me: all Nebula content creators will get a fraction of my money, instead of only the videos I watch getting my money. That's a dealbreaker for me, because there are certain Nebula creators who I despise

@romangeneral23 3 жыл бұрын

1:25 XI as Winnie - HAHAH. Freaking Beautiful

@winah 3 жыл бұрын

9:24 that was so satisfying to see, what a nice landscape

@bakarandguladze 3 жыл бұрын

they probably expropriated someone's apartment before building that tunnel though

@christianajoe8563 2 жыл бұрын

When you invest, you're buying a day you don't have to work

@grahamroberto6578 2 жыл бұрын

Assets that can make you rich Bitcoin Stocks Real estate

@loydriley9221 2 жыл бұрын

@@grahamroberto6578 You're right Sir, it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor

@samuelroyal3818 2 жыл бұрын

@@loydriley9221 It's not ignorance but due to some unprofessional broker in the market

@cassiejacobs4197 2 жыл бұрын

The one thing about been successful is working towards it and not going the other way round

@chrispaul3778 2 жыл бұрын

I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this

@graye2799 3 жыл бұрын

7:30 or dissidents, critics and anyone even slightly opposed to the state.

@jacob_90s 3 жыл бұрын

Would be interesting to see you do a video on whether or not SDR's have potential as a replacement for the dollar.

@domenico_ginny6164 Ай бұрын

What is that?

@tomiadventures 3 жыл бұрын

Thx for telling me the extended version is on Nebula, BEFORE the end of the video =)

@TheRaughSand 3 жыл бұрын

He said about it almost at the beginning are you deaf bro

@tomiadventures 3 жыл бұрын

@@TheRaughSand That is why I thanked him. Can you read bro :)

@TheRaughSand 3 жыл бұрын

@@tomiadventures oh sorry I thought you meant like "right before the end of the video" especially with capslock. You should've just wrote "at the start of the video" to avoid confusion imo

@briankruschke3170 3 жыл бұрын

“They’re will be nowhere for corrupt politicians to hide” sure lol

@kpworld7807 3 жыл бұрын

You can't name a better love hate relationship than polymatter and china

@swagking6555 2 жыл бұрын

You should talk about swish in sweden its a completely digital paying option and it’s so interesting that other countries doesn’t have it

@vipondiu 3 жыл бұрын

9:31 That must be a very noisy apartment, with a monorail passing every 5 minutes in the upstairs floor XD. Looks cool thou

@stockmarketindia7722 3 жыл бұрын

@aratirao9007 3 жыл бұрын

🏐 SERCH ADITYA RATHORE, HE ALSO MAKES INFORMATIVE CONTENT LIKE POLYMATTER ON U-TUBE🏐

@mugge47 3 жыл бұрын

6:54 Me: Ah yes the vending machine industry Polymatter: The government Me: Polymatter: Me: oh that too...

@Googledeservestodie 3 жыл бұрын

How did the title go from "could the Digital Yuan Replace the US Dollar?" To "why China's Digital Currency Doesn't Matter" lmao

@primeoil4758 3 жыл бұрын

Coz this is garbage propaganda chanel

@ChucksSEADnDEAD 3 жыл бұрын

Because changing titles can help you fine tune how your video appears on the recommended algorithm.

@ling636 2 жыл бұрын

@@primeoil4758 lol commie mad

@jonahruntz9818 2 жыл бұрын

That 240 In the beginning of the video is disgustingly clean

@cuddlemuffin.9545 3 жыл бұрын

I dont think the digital yuan will end the us dollar, digital robux will

@arthurmorgan8966 3 жыл бұрын

1:20 Nice touch with the Netflix profile selection and puppet avatar for Lam

@Wersjon 3 жыл бұрын

We use mobile payments in EU, it's nothing new and it's norm

@mnm1273 3 жыл бұрын

It is not the main means of outdoor shopping at least in the cities I have lived in in France

@annibjrkmann8464 3 жыл бұрын

We use it in Norway, no cash

@jayce8978 3 жыл бұрын

France is dominated by credit card and Germany still heavily relies on cash. In China, the adoption rate is pretty close to a 100%

@thelakeman2538 3 жыл бұрын

I mean in China even beggars in Chinese cities have to accept mobile payments since nobody carries cash around, like no country in the world has come to that level.

@Wersjon 3 жыл бұрын

@@mnm1273 Yuck, in Poland all of the shops have credit cards, mostly bus drivers don't have a terminal, don't remember last time not being able to use my card

@owalker-_-8627 3 жыл бұрын

Love your videos!!

@owalker-_-8627 3 жыл бұрын

was first btw

@luzherrera4463 2 жыл бұрын

9:23 I like seeing this train going in smoothly through those buildings.

@victorcheung1162 3 жыл бұрын

As a viewer from Hong Kong, the opening is just fabulous😂😂😂

@cobytang 3 жыл бұрын

Carrie Lam just got roasted, but don't call an ambulance for her because she's an ass.

@jeffbenton6183 3 жыл бұрын

How are things in HK, now by the way? I heard that the central government passed a bunch of laws, but I haven't heard anything since.

@victorcheung1162 3 жыл бұрын

@@jeffbenton6183 Terrible🙂. They passed a so-called national security law. But it actually is a law to suppress all opposing figures. Pro-dem people are jailed because of organising and participating in election; the famous pro-dem newspaper Apple Daily was forced to close because the gov froze their assets, and journalists were arrested; gov now requires a preliminary screening for LegCo representatives election, basically all opposing figures will br disqualified

@jimmyfan9207 3 жыл бұрын

Diu😂 Btw if any wumao arrives please ignore them lmao don’t give them any attention

@thatchinaboi1 3 жыл бұрын

@@victorcheung1162 You don't deserve to live in Hong Kong. You should come live in the US. Let's see how you like your "freedom" over here. 😂

@malignm1857 3 жыл бұрын

The Pentagon will never allow the Yuan be the global currency. Mark my words.

@fregmnt 3 жыл бұрын

Lol china is stocking up on gold don't care what the USA does

@cephalonbob15 3 жыл бұрын

They rather nuke the world to oblivion than give up supremacy

@J_X999 3 жыл бұрын

@@cephalonbob15 Its frightening that this is probably true.

@dinghy4760 3 жыл бұрын

The CPC has vociferously reiterated time and again, there isn't any intention to replace the US$ with CNY, and they know too well it isn't even possible. Some precious metal experts have predicted China's gold reserves to be north of 20,000 MT, these guys do track physical gold movements. We can only guess the replacement to the US$, in the not so distant future, could be a basket of currencies & believe me, gold backed currencies will make a comeback. The USA has taken every other nations for fools, and if you are to believe this will go on indefinitely, you must either be American or someone who doesn't care either way.

@tillyrhodes-mayo6448 3 жыл бұрын

I bought the Nebula package and with a lot of the video's the only difference is the lack of sponsor plugs, also the buffer speed is terrible. Curiosity stream is okay but most videos are both outdated and on you tube anyway!

@zollen123 3 жыл бұрын

So.. what are the differences between mobile payments and digital currency? Both are centralized system. The mobile payments are already widely adopted in China for quite sometimes, so what are the added benefit of adopting digital currency?

@watchm4ker 3 жыл бұрын

In theory, there's one reason: Stability. Banks can fail, but a Central Bank can't. (Or, if it does, then your paper currency is equally as worthless.) In practice, there may be incentives such as zero fees.

@Sinaeb 3 жыл бұрын

the USD is already mostly digital tho, like most of them for that matters.

@brownbear3166 3 жыл бұрын

Apple Pay works at about everywhere now so there’s really no need to still carry a card anymore.

@kaneworthington 3 жыл бұрын

Thats not how it works. Digital transactions are still based off FIAT USD. Theres a difference between digital payments and a CBDC currency.

@Kariyu101 3 жыл бұрын

@bobloblaw3700 3 жыл бұрын

@@kaneworthington it’s fiat because only the US government can make it. Who makes the digital Yuan?

@dirremoire 3 жыл бұрын

People are missing the point. Payment methods like Apple pay still pull money from your bank account, that's not the case with digital currency. Your money resides on your phone, not in a bank. Need to pay your rent? You send your payment directly from your phone to your landlord. No Bank necessary.

@Nopenotatall 3 жыл бұрын

Russia will most likely launch the first State run crypto, they have been working with Vitalik (eth creator) for quite some time to develop something. Also the Western World won’t run in Chinese currency anytime soon, if the Dollar is phased out, we will probably switch to the Pound or Euro

@dirremoire 3 жыл бұрын

I wouldn't be surprised if Russia also adopts the digital Yuan.

@Nopenotatall 3 жыл бұрын

@@dirremoire they clearly have an interest in a digital currency but I see them adopting a Chinese one vs a US one. They tired of the dollar being the world currency

@nerocityhd9481 2 жыл бұрын

the brits arent what they were, and having left the EU I can confirm they can only go downwards now

@georgeherren606 3 жыл бұрын

Here before the title was changed. Digital Yuannnnnn

@KyudoKun 3 жыл бұрын

If this digital currency becomes successful as what was stated in this video this doesn't require bank account for individuals. Then what do you think would happen with the private banks?

@xiaomose7495 2 жыл бұрын

Then you can Expecting a fight from banker community. Including sabotage,misinformation etc luckily china isnt third world country

@johnfrancisco1851 3 жыл бұрын

boycott the china winter games

@tobiasL1991 3 жыл бұрын

China doesn't fear private companies, no Chinese company is private, thinking so is a gross misunderstanding of how far the influence of the party actually goes in it's companies. And every foreign company that does business in China had to adhere to it's laws and whims.

@joela.4058 3 жыл бұрын

No Chinese company is private? That’s a bold, unsubstantiated statement

@tobiasL1991 3 жыл бұрын

@@joela.4058 Are you just trolling? Every company has to have one member of the CCP as a boardmember. Good luck ever trying to argue anything else.

@joela.4058 3 жыл бұрын

@@tobiasL1991 wether or not every PRIVATE company has party members on the board is irrelevant to the overall structure of that firm. Yes, CCP has control and leverage over all domestic companies. But there is a clear distinction between the private companies there and the state run ones.

@joela.4058 3 жыл бұрын

@@tobiasL1991 tell jack ma and all the other Chinese billionaires there’s no private companies 😂

@tobiasL1991 3 жыл бұрын

@@joela.4058 That's the thing though, that difference only exist on paper. In China there every company has and will follow whatever whims the CCP decides. If you think having a CCP boardmember is just that you are seriously wrong. Maybe look up military civilian fusion, something China excells at. This video makes it seem like the CCP fears major companies when they hold all the cards. Funny you mention Jack Ma, he's the guy who disappaered for weeks when he critized the CCP and who's company suddenly didn't get IPO permission. Claiming China has private companies is absurd, unless you define private as, private like in the West but with Chinese characteristics.

@alkwti 3 жыл бұрын

Going to nebula now .. this is very interesting

@townsound 3 жыл бұрын

Everytime I see that train that goes straight through the apartment building (9:30), I shudder.

@aratirao9007 3 жыл бұрын

🟣 SERCH ADITYA RATHORE, HE ALSO MAKES INFORMATIVE CONTENT LIKE POLYMATTER ON U-TUBE🟣

@user-pv3hu1kq1u 3 жыл бұрын

I disagree: what does autocracy look like without bribes? Handbook for dictators discribes why autocracies have such a problem with bribes. Can you have an autocracy without it ? We'll see

@naufaltriandiroziqi8538 3 жыл бұрын

Good point

@fahimrind9714 3 жыл бұрын

there are always ways around bribes, always, don't think just cause the government takes steps to stop it it will stop bribery, for every action there is a reaction, and there will be a reaction to that as well. China has put so many limits on money leaving the country and yet thousands flow out just next door to macau where gambling takes place

@joshuatoms7664 3 жыл бұрын

They will find alternate currency to bribe with.

@pushkardeshpandemedfreak 3 жыл бұрын

@@fahimrind9714 But with the digital yuan everything you transact will be monitored. Even now the tech giants are under strict watch and scrutiny. Also don't forget the world class surveillance system that would put the final nail in the coffin about any kind of mishap happening. Just imagine if a person or government official tries to exasperate the government by say posting something on the internet.. The Government will hastily find out who it is by the already strict internet regulation.. block any means of his transacting money.. find the record of his face and address and boom next day they are with handcuffs!!! And till then he cannot transact a single time even for food and find himself in UTTER HELPLESSNESS! So it is very difficult now to even think anything of going against law and forget bribes they are a whilee apart!

@dirremoire 3 жыл бұрын

China doesn't have a big problem with bribes. India is by far the most corrupt in that regard.

@AO00720 3 жыл бұрын

So basically is like a cash but uses your phone as a wallet. We have that here in Somaliland. I reckon it's way ahead of the Chinese one.

@thetaomega7816 3 жыл бұрын

Yes like it was the story with chinas rise: Its easier to build something new, then replace existing systems

@AO00720 3 жыл бұрын

@@blokin5039 no it doesn't. The video clearly said it.

@hendrikdependrik1891 3 жыл бұрын

@@AO00720 Damn, did the Chinese stole your tech? Isn't there just anything they don't copy?

@nmslesecnmbese917 3 жыл бұрын

@@blokin5039 blockchain in which block means to deter someone from using his money since they criticize the gov

@rejvaik00 3 жыл бұрын

Nebula may not have ads or sponsors but it's got a pay wall so it might as well have

@Pyhantaakka 2 жыл бұрын

Those volvo 240's sure are tough, still running and delivering cash.

@onceuponfewtime 3 жыл бұрын

why do they call it digital money if it only means exchange information of their bank account? Maybe the data is encoded or encrypted something something, but it is not that hard at all. naming such as currency really sound like magic or something.

@aburetik4866 3 жыл бұрын

Digital Yuan is designed to bypass the SWIFT system so that world trade can be transacted electronically with RMB instead of US dollars. This stupid propaganda video by Americans deliberately ignores this fact and tries to brainwash ppl to still use the declining US dollars. lol

@_lod 3 жыл бұрын

@@aburetik4866 does this change anything much except who controls the currency?

@aburetik4866 3 жыл бұрын

@@_lod Digital Yuan is not intended to control currency, but to replace US dollar with RMB in world trade, because it can bypass the SWIFT system controled under USA. You are brainwashed by this propoganda video by Americans that misinterprete the digital yuan.

@_lod 3 жыл бұрын

@@aburetik4866 ok

@rayl3575 2 жыл бұрын

@@aburetik4866 can you explain the problem with SWIFT? I also felt that this video was a little weird. Like it was telling me what I should be thinking rather than explaining it.

@nicholasdean3467 3 жыл бұрын

Crypto is a massive industry. Not all crypto is targeting anonymity. 6:10 some put all of the power in the creators (central power) some are crypto games, some are defi.

@kumikoOG 3 жыл бұрын

*That's we have written, an equation does not remove from the flow, of fluids, its charm or mystery or its surprise.*

@rexglucksburg 3 жыл бұрын

1:25 i see what you did there mr.matter

@btrdangerdan2010 3 жыл бұрын

09:30 that's the iconic line 2 of the Chongqing Rail Transit subway line going thru an apartment building. Chongqing Jiangbei area

@jaredgup6537 3 жыл бұрын

"It will be explained in the extended cut of this video on Nebula" Ngl, at this rate I might as well not watch these videos cause the interesting stuff is locked behind nebula lol. Go argue about the algorithm or supporting creators or whatnot, I ain't paying for Nebula. Never have, never will. Can't afford shit on a student budget.

@confusedkemono 3 жыл бұрын

Neither. There's tons of content creators that don't do this and simply have a Patreon. While they release some extras or videos early there, they don't go "lmao to see the full ver pay me plz". No thanks, I'll live without it.

@seefortyoneuk5285 2 жыл бұрын

how dare creators make money from their labour... Take a moment to think about your childish attitude. If you are butt hurt by the 10 min free documentary on youtube --stop watching it and don't make bordeline nasty/insulting comment. Remember, youtuber can read you. You say you are on a student budget, very well, but you also say "never have and never WILL". So when YOU will be paid for your labor and spend said dollars (or RMB) on sh!t, you already know you won't spend on him, ever, and you let him know. Excellent attitude.

@jaredgup6537 2 жыл бұрын

@@seefortyoneuk5285 how dare I voice my stupid opinion. I'll put it like this cause I think I should've put way more thought into my comment beforehand but left it as is outta lazyness and butthurt. I don't think at the end of the day that the added content on nebula is worth the money (hence my insensitive comment on the extended cut being on nebula) and I express concern that polymatter may be watering down his content in order to incentivize his viewers to join the service. Now in retrospect that's a dumb thing to say on my part cause you know. The guy's got to get his fair compensation for his work. And his video quality has indeed not been compromised for the sake of nebula. It was just my opinion at the time that. Well. He was watering down his content. How much of this is backtracking and how much I am a hypocrite is for you to decide. I responded, cause I felt that I was unfair to him and intend on stating that here in this response to you. How much it'll do to rectify the damage I've presumably done I don't know. I sure as hell ain't changing the previous comment that expressed the way I did back then.

@Mechaneer 2 жыл бұрын

What happened to that $11 for both services deal? I would do that but I'm not paying 15 for only one of them when I already have KZfaq premium.

@jodysin7 Жыл бұрын

If a digital currency takes over physical currency than the net effect would be back to silver and gold for a black market currency.

@Nathaniel2Leinahtan1 3 жыл бұрын

WAIT, so Digi Yuan all run through the China central bank? why would anyone outside of China use it? Does it work without a connection to the Bank?

@dekaaizer2550 3 жыл бұрын

For the same reason someone would use the dollar

@watchm4ker 3 жыл бұрын

1: Through the bank's payment network. Essentially, it's like if you could get a chequing account at the Federal Reserve. 2: For the same reason people use Mastercards, Visas, and AMEXs outside of the US. 3: There might be an offline system for it, but I'm unaware of any details.

@den-iq1cv 3 жыл бұрын

also if CCP don't like your internet comments, they could delete your money.

@dekaaizer2550 3 жыл бұрын

@@den-iq1cv Just like USA when your country gets unauthorized economic ideas.

@Cubannerd 3 жыл бұрын

@@dekaaizer2550 no offense but despite me not trusting any government. I trust the US with my money more so than China.

@sfukuda512 3 жыл бұрын

I think this video misses the point of the digital yuan, and CBDC's in general. Overall, countries do not want physical cash. It is expensive to print, expensive to track, and it gets lost and stolen all the time. Plus people love to counterfeit. For China, which is a largely cashless society, who knows what the motivation is? Maybe they think having the first fully kitted out digital currency will be advantageous in the future. As for surveillance opportunities, I don't think that's relevant. The Chinese mainland is heavily monitored. Having an extra layer of surveillance is neither necessary nor particularly worrisome to its citizens. As for replacing the dollar, why would you want to do that? Dollar domination has become such a headache for the US. Just read a recent Lyn Alden blog to see why single-currency domination is bad for the issuer of that single currency. I think what China, and any rational country, wants is an end to the arbitrary ability of the US to sanction anybody they so please. Petro-dollar supremacy? That will end when the oil era ends, or when civilization ends. What will replace the dollar? Hopefully, a basket of currencies that can be weighted, depending on their purchasing power. Or it can be tied to gold reserves. Although, personally, I am still holding out for the weed standard.

@shiningyrlife 3 жыл бұрын

gold back had its own limitation, which is why the US went away from it. Each has pros and cons.

@shiningyrlife 3 жыл бұрын

Surely the digital Yuan doesn't matter much in term of surveillence, but I must point out that non-Chinese citizens wouldn't want that risk entailed.

@babybabel7408 3 жыл бұрын

That's what u was seeing there is more bashing than acctual explanation. China breathes West = this is warning of nuclear war

@johnlockegg7095 3 жыл бұрын

You miss the point that China is receiving a massive amount of dollar from its trade surplus with the US, and this foreign reserve is a very bad longterm investment, because the US Feds can depreciate the dollar at a whim, which it does. In the end it means that the US buy real goods from China with their own printed money, which will be worth less and less. All China wants from the US is its technology, but now you can't even buy that, no matter how much dollar you have. So what can China do with the dollars? It is becoming a very bad deal for China, as all these dollars will just sit in a vault and loose value over time.

@sfukuda512 3 жыл бұрын

@@johnlockegg7095 The Chinese loan these dollars out to foreign governments for BRI. They probably have a few billion dollars lying around for burning or wallpaper, but they long ago figured this out. They also realize that this paper will lose value over time, no matter how much they get.

@1abdullahjabbar 2 жыл бұрын

Where is that building at 9:29

@champ7619 3 жыл бұрын

Is it just me or did he change the title? Because in my notifications feed it reads "Could the Digital Yuan Replace the US Dollar?" But when I click I get "Why China's Digital Currency Doesn't Matter" ???