Advertise with us (we do not endorse any site advertised)

Author Topic: Peter Schiff: China’s Gold Backed Crypto is better than Bitcoin  (Read 635 times)

0 Members and 1 Guest are viewing this topic.

Offline JoshonwillTopic starter

  • Full Member
  • **
  • Joined: Jul 2019
  • Location: australia
  • Posts: 237
  • Country: au
  • Thanked: 1 times
  • Karma: +0/-0
  • Gender: Male
    • View Profile
    • Thecooinrpublic: By the Coins, From the Coins, For the Coins .
With the launch of china’s gold-backed cryptocurrency, Peter Schiff a known advocate for precious metals especially gold claims that China’s crypto will pull bitcoin price down. though Peter is a known critic of Bitcoin. Schiff had always stressed to prove bitcoin lower to gold, many of their predictions become a hoax. Recently he gave the statement indicating that Bitcoin as “backed by nothing”
Source: TheCoinRepublic

Offline Paul88

  • Jr. Member
  • *
  • Joined: Jun 2019
  • Posts: 50
  • Country: mh
  • Thanked: 1 times
  • Karma: +0/-0
  • In Gold We Trust
    • View Profile
Re: Peter Schiff: China’s Gold Backed Crypto is better than Bitcoin
« Reply #1 on: November 22, 2019, 10:46:34 PM »
China is developing a Stablecoin backed by the Yuan.
In order to create a gold-backed cryptocurrency, they should first back the Yuan with gold.
If they don't do it, their own population will use the gold-backed cryptocurrency and leave the national fiat currency (the Yuan).
Clearly this is not what Chinese authorities want.

There are no talks about backing the Yuan with gold.
So far, the idea of a gold-backed Chinese cryptocurrency is only a rumor.


Will the Bitcoin predictions by Peter Schiff- The ‘gold advocate’ hit the bull’s

Started by Joshonwill

Replies: 1
Views: 283
Last post October 27, 2019, 05:04:09 PM
by mushroom_legend
NoFiatCoin | XNF; Crypto currency backed by bullion (Gold & Silver)

Started by digitalpro

Replies: 1
Views: 3614
Last post January 27, 2014, 06:04:54 PM
by hardsome
Thoughts on gold backed crypto?

Started by GoBelle

Replies: 0
Views: 1068
Last post April 09, 2018, 01:37:26 PM
by GoBelle
ONECOIN: new crypto currency supported with Gold Coins

Started by svsinvest

Replies: 1
Views: 12176
Last post April 01, 2015, 08:30:33 AM
by svsinvest
[PRE-ANN] deCLOUDs - The Precious Metals-Backed Crypto-Platform on BlockChain

Started by John Ogden

Replies: 17
Views: 14540
Last post September 04, 2016, 06:25:09 PM
by John Ogden

your ads here