
China Trials Its Own ‘Bitcoin’ but Here’s Why It Will Probably Suck - doener
http://bitcoinist.com/china-trials-bitcoin-suck/
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lawless123
Hmm what they actually seem to be doing here is using the blockchain
technology, not a bitcoin like currency.

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momentmaker
Without an incentive like Bitcoin, blockchain is not going to work. Might as
well just use a regular SQL db.

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droopyEyelids
Boy these articles on digital currencies are confused and poorly written.

If anyone reading this ever wants to write an article on a new digital
currency, please consider beginning your analysis based on Jevon's four
properties of money.

>In Money and the Mechanism of Exchange (1875), William Stanley Jevons
famously analyzed money in terms of four functions: a medium of exchange, a
common measure of value (or unit of account), a standard of value (or standard
of deferred payment), and a store of value.

Of course, that requires actual work. For example, you have to do research to
find out how a government sponsored 'medium of exchange' would work. No matter
how regressive or controlling the policies around it were, the currency would
probably be a success if any business could create an account and start
sending and accepting money using an open protocol without fees.

