What could China be planning with crypto in the future?We do not care. Chinese had proven that bitcoin and other cryptocurrencies can not be banned completely in a way that people in a country will not be able to use it anymore.
I don't think Hong Kong is an experiment for the mainland before they openly welcome cryptocurrencies. It's intended to be the only place for crypto just like how gambling is only allowed in Macau. Their Government wanted those industries to be contained in one specific area.I can also see in that perspective that what they are doing is an experimental. But this may also be a strategy for China to have a much more control in monitoring and analysing it's potential without affecting the entire country if something bad will happen.
What do you think about how China manages crypto? Is this an effective approach? What could China be planning with crypto in the future?
China has great potential because of its population. If this potential flows back into cryptocurrencies, we can undoubtedly witness good developments. However, before China banned cryptocurrencies, we used to make similar comments about some Chinese projects. One of them was NEO. But even before China banned cryptocurrencies, NEO collapsed in terms of price. I don't remember exactly now, but it was something like, if one out of every hundred Chinese people bought one NEO, the price of NEO would be 1000 dollars. :) In short, some calculations on paper may not correspond in real life. Greetings to China and the Chinese people, and to the rest of the people of the world... :)
What we have to remember is that China is the country that is most clever in economic or financial strategy. So I am sure that China will one day have a positive impact on crypto assets. It's just that they definitely make strict regulations about this. Like Japan, which also applies quite strict regulations and even crypto taxes there are very large. But I'm sure China will make regulations more accessible. But they won't rush into getting involved. It's just that their current direction is starting to become more crypto-friendly.
I feel like China is playing a complex game with cryptocurrencies. They aim to benefit from blockchain technology but at the same time want to maintain control over the financial sphere. Their strategy involves implementing the digital yuan and conducting tests, but they also impose strict bans on cryptocurrency operations. In the future, they will likely continue to balance between researching and regulating cryptocurrencies to minimize risks and maximize the potential of blockchain technology for their economy.Testing out CBDCs doesn't mean they are playing with crypto. Similar to what I said about the Russian Digital Ruble, China probably do not consider the Digital Yuan and other CBDCs as cryptocurrency even if they are using the same technology (blockchain).
In the context of the economic crisis and its possible intensification, something tells me that China will have no time for cryptocurrency. Moreover, it will not ensure economic growth, it will ensure the growth of the financial sector, and this is not the same thing.The financial sector development is different from the economy development, but they are directly proportional. If the financial sector is becoming more developed to a significant level, this will have positive effect on the economy as the economy will also becoming more developed. Also there are difference between economy growth and development.
I don’t agree, the only thing they have in common is the word “economy”. Money earned in the financial sector is usually invested back.The financial sector can easily show growth while the real sector shows a decline. And the real sector primarily generates added value, which leads to the growth of the country's economy and not vice versa.In the context of the economic crisis and its possible intensification, something tells me that China will have no time for cryptocurrency. Moreover, it will not ensure economic growth, it will ensure the growth of the financial sector, and this is not the same thing.The financial sector development is different from the economy development, but they are directly proportional. If the financial sector is becoming more developed to a significant level, this will have positive effect on the economy as the economy will also becoming more developed. Also there are difference between economy growth and development.
In my personal opinion, from the very start, China doesn't hate Bitcoin or cryptocurrency; it's just their strategy to pretend they don't like them. Yes, they are banning, but do we know that if they can do that, there will be a downfall in the crypto market, and when that happens, they can secretly invest potential cryptos in the market and Bitcoin a huge amount in them?Hmm that's some interesting thought there , although am not too certain about china capability of doing this but am very certain that this is the same politics that most coin owners do with their coins that earn them huge profits leaving the masses misguided and confuse by the sudden dump.
I don't think that China would "accept" crypto. They are already dealing with some of the coins and tokens, like EOS was a huge thing there for example, they are just putting harsh regulations to Bitcoin that's it. Last I remember you could still have bitcoin in your wallet and that wasn't disallowed or illegal, it was illegal to mine it as far as I remember though. So there are some stuff you can do with it and can't do with it. All in all, in the end its going to be fine and even Chinese will realize that they can do whatever they want without getting caught and they could just simply deal with the privacy a bit more carefully.
I don't think that China would "accept" crypto. They are already dealing with some of the coins and tokens, like EOS was a huge thing there for example, they are just putting harsh regulations to Bitcoin that's it. Last I remember you could still have bitcoin in your wallet and that wasn't disallowed or illegal, it was illegal to mine it as far as I remember though. So there are some stuff you can do with it and can't do with it. All in all, in the end its going to be fine and even Chinese will realize that they can do whatever they want without getting caught and they could just simply deal with the privacy a bit more carefully.China only bans crypto, not blockchain. Even the Chinese community is very enthusiastic about learning and finding ways to apply blockchain technology. It is quite puzzling that EOS, the dinosaur blockchain and once abandoned by BlockOne, is popular in China and is considered the best blockchain in the world.
In the context of the economic crisis and its possible intensification, something tells me that China will have no time for cryptocurrency. Moreover, it will not ensure economic growth, it will ensure the growth of the financial sector, and this is not the same thing.Why China has no time? They have time but they are playing a secret influence.
Why China has no time? They have time but they are playing a secret influence.Yeah like as you said, the economic conditions in China are very good, and the technological developments there are very fast and extraordinary, so that when Chinese people start using cryptocurrency as one of their legal currencies, it will have a good impact on cryptocurrency price movements. Yes, all you need is a lot of patience, because the process of doing that is not easy.
When China supports crypto, I'm sure there will be economic growth around the countries in the world. We know that China has a big role in many sectors of our life. The supports from China will be always crucial. But it doesn't determine the future of crypto.
Yeah like as you said, the economic conditions in China are very good, and the technological developments there are very fast and extraordinary, so that when Chinese people start using cryptocurrency as one of their legal currencies, it will have a good impact on cryptocurrency price movements. Yes, all you need is a lot of patience, because the process of doing that is not easy.
Hongkong decision will not stand for the whole china and I do believe is that if Hongkong adopts crypto
Recently, Hong Kong, which is considered a territory strongly influenced by China, has opened its doors to crypto[5]. This may be an experiment with crypto that China wants to conduct before opening up and adopting crypto in the mainland.
Re: If China soon welcomes crypto: strong bullrun?No, and they will never welcome crypto in their country.
China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.I can't fully believing yet with China has plan for making bitcoin as legal currency transaction, they have banned bitcoin several time and since China banned announced bitcoin dropped drastically although always success recovery more higher price than before after banned announcement.
If China works with cryptocurrency, it will promote a national cryptocurrency and not Bitcoin. And there will be little transparency in this process. In any case, all totalitarian states suffer from similar weaknesses.China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.I can't fully believing yet with China has plan for making bitcoin as legal currency transaction, they have banned bitcoin several time and since China banned announced bitcoin dropped drastically although always success recovery more higher price than before after banned announcement.
I don't think necessary with China have to make bitcoin as legal currency transaction because without China bitcoin keep strong and success recovery until raise higher price, just make bad speculation with China has not consistency when making bitcoin legal some time they will announce bitcoin banned as legal transaction.
China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.I think China is looking to take advantage of the time to create their own digital currency, preventing the invasion of crypto that could weaken the power to manipulate domestic finance. Now they are testing in Hong Kong. If crypto is good and can be managed, it will accept and collect taxes on the mainland. On the contrary, if it's not good, it's okay to let Hong Kong continue testing for a few more years and then leave.
China as we all know has a strong market force coupled with the fact that they have a population running into billions. Before the ban of Crypto currency in China, the Crypto market was really booming as the Chinese were fully adopting Bitcoin and other Crypto in full scale which really made the market growth increasing on a steady speed not until the Chinese government banned Bitcoin and crypto which drastically affected the Crypto market causing panic and sell off.
There is this thing I have realised about the Chinese market, no matter how small a project is, if the Chinese influence enters, there is always a surge in demand for it and definitely the product will have it's way into the global market and just a little percentage of the Chinese population alone could make it be at the top of demand in the consumers priority list.
Nevertheless, I believe the Chinese government are currently conducting a research on Crypto currency via their neighbour as a case study because there is every possibility that the outcome of the research could trigger them to lift a their ban on crypto currency but however, let no is watch as things unveils itself.
China as we all know has a strong market force coupled with the fact that they have a population running into billions. Before the ban of Crypto currency in China, the Crypto market was really booming as the Chinese were fully adopting Bitcoin and other Crypto in full scale which really made the market growth increasing on a steady speed not until the Chinese government banned Bitcoin and crypto which drastically affected the Crypto market causing panic and sell off.
There is this thing I have realised about the Chinese market, no matter how small a project is, if the Chinese influence enters, there is always a surge in demand for it and definitely the product will have it's way into the global market and just a little percentage of the Chinese population alone could make it be at the top of demand in the consumers priority list.
Nevertheless, I believe the Chinese government are currently conducting a research on Crypto currency via their neighbour as a case study because there is every possibility that the outcome of the research could trigger them to lift a their ban on crypto currency but however, let no is watch as things unveils itself.
That's what other countries that are negative about Bitcoin or cryptocurrency always do: when they see that there will be a good trend in Bitcoin, like the upcoming halving, the wind suddenly changes in reality. Of course, they know that they can make a profit from what they do.
Observe that after the bull season and entering the bear market again, a country like China will suddenly turn negative. How many times have they done that? They do the same in other countries, but there are others who are open to bitcoin or cryptocurrency.
China has announced several bans on cryptocurrencies long ago and managed to create quite a negative impact on the market. From 2013 to 2021, China announced a massive ban on all exchanges and transactions, including Bitcoin transactions, several times, although each time the price of Bitcoin began to fall sharply, but currently China's negative or positive actions may not have much impact on the Bitcoin market, or even last. no So for now, no matter how positive China looks on Bitcoin, these announcements will not have any impact on Bitcoin from my point of view.I can't fully believing yet with China has plan for making bitcoin as legal currency transaction, they have banned bitcoin several time and since China banned announced bitcoin dropped drastically although always success recovery more higher price than before after banned announcement.
I don't think necessary with China have to make bitcoin as legal currency transaction because without China bitcoin keep strong and success recovery until raise higher price, just make bad speculation with China has not consistency when making bitcoin legal some time they will announce bitcoin banned as legal transaction.
- When bitcoin reached 69k$ ATH at the time of 2021, did China participate at this time? I just thought I should have said it. Because I also can't say that the country of China will boost everything in bitcoin the day it enters the bull run.
I can even say that China can only add to the impact of holding a huge amount of bitcoin, but not in a way that will be the main reason for the day of the bull run itself, whether it happens this year or next year.
Yeah that's right. I remember that when China announce to ban crypto there is a sudden dump of all cryptocurrencies including Bitcoin. If I'm not wrong the prices went down more than -30% which can really gives us anxiety. After that, I heard a news from the trading group I joined that there are people who ended their lives because of that massive dump. You know when you are trading futures you will encounter more loses than spot investors because of leveraging. Because of that we understand how big the influence of China to crypto. So I believe that when the China decide to unbanned crypto, there will be a positive impact to the price of cryptocurrencies.
I don't think Hong Kong is an experiment for the mainland before they openly welcome cryptocurrencies. It's intended to be the only place for crypto just like how gambling is only allowed in Macau. Their Government wanted those industries to be contained in one specific area.I can also see in that perspective that what they are doing is an experimental. But this may also be a strategy for China to have a much more control in monitoring and analysing it's potential without affecting the entire country if something bad will happen.
If China cancels the crypto ban it will definitely have an impact on crypto prices, because we know China is one of the biggest economics. But until now China has not allowed crypto, even the Chinese coin NEO has not had any significant development.Can't fully believing with China withdraw their regulation banned crypto as currency transaction or commodity assets, they had did many time for making bitcoin and altcoin as illegal transaction and not easily for accepting the reason of China government want to make bitcoin back to legal.
You share sad story, when China banned crypto at the past. Hopefully China will have a good policy to allow crypto.
The crypto market has suffered many negative impacts when China has made tough decisions against crypto in recent years:
- 2013: China bans banks from crypto transactions
- 2017: China bans crypto initial coin offerings
- 2019: Attention turns to bitcoin mining
- 2020: Enforcement ramps up
- 2021: China bans crypto trading and mining[1]
Have you tried to investigate how many times China announced the regulation of crypto and its acceptance? There were such news as well as these negative ones.There will always be good news and bad news about cryptocurrency, and the most important thing is to carefully consider how this news circulates because there is also a purpose for this news to circulate because it wants to trigger traders to panic and sell their assets at cheap prices.
Everyone is quite tired of the speculations of the Chinese state, and one gets the impression that it was just part of the price manipulation to get extra profit out of it. It's good this way and maybe it's better without their meddling in the Bitcoin thing.
There will always be good news and bad news about cryptocurrency, and the most important thing is to carefully consider how this news circulates because there is also a purpose for this news to circulate because it wants to trigger traders to panic and sell their assets at cheap prices.
What do you think about how China manages crypto? Is this an effective approach? What could China be planning with crypto in the future?I don't even know what they are up to. There are still a lot of crypto folks in their country and they have to recognize that. I have no idea what they're planning because no matter what news of stoppage or ban is there, I am sure that there are whales and mining facilities and farms there that continue to operate and never ceased with their operations. So, if they want to ban, they should ban but I guess that my belief about them is opposite in crypto related affairs inside them.
I don't even know what they are up to. There are still a lot of crypto folks in their country and they have to recognize that. I have no idea what they're planning because no matter what news of stoppage or ban is there, I am sure that there are whales and mining facilities and farms there that continue to operate and never ceased with their operations. So, if they want to ban, they should ban but I guess that my belief about them is opposite in crypto related affairs inside them.I also believe that big whales in China are still actively manipulating the market with their huge capital. I hope this cash flow will not leave the market, it would be better if investors could legally trade and invest in crypto in China, the crypto market in China is also very large and potential.
China is largest populated country. Total population till now 1.425 Billion. And Big part of Bitcoin mining happen in China. So if here happen any negative or positive news, it’s impact were also big. We know when China given positive news then Cryptocurrency market go up, and when we saw negative news from China then total cryptocurrency market were down. So it is proved China is big fact for crypto.
So i think if China soon welcomes crypto then we will saw strong bull market there has no doubt. Because China is stronger part of cryptocurrency.
as you stated earlier, the number of bitcoin miners in China is very large. But so far the Chinese government has banned bitcoin. If the Chinese government legalizes bitcoin, we will definitely see bitcoin strengthen further, with support from the large Chinese population.We all know that China has a huge economic potential. They have many billionaires and a huge amount of capital ready to invest. I believe that part of the success of ICOs in 2017-2018 came from the capital flow in the Chinese market. If China opens up to crypto soon, this capital flow could return and make the crypto market grow more strongly, similar to what we saw from the impact of the BTC Spot ETF in the US. Chinese people also accept risks to have the opportunity to change their financial position, they often like to invest and I believe they will not ignore crypto when choosing assets for their portfolio.
China has always been hostile to crypto. Especially the government of that country does not want its people to use Bitcoin or cryptocurrency. The Chinese government has tried different ways to convince the public about the disadvantages of using crypto. They declared Bitcoin illegal. Crypto mining has also been banned. But the public has behaved positively towards Bitcoin. Although not officially announced, the government is now taking a positive view of it. Maybe we'll get a crypto acceptance message from them soon.If China cancels the crypto ban it will definitely have an impact on crypto prices, because we know China is one of the biggest economics. But until now China has not allowed crypto, even the Chinese coin NEO has not had any significant development.Can't fully believing with China withdraw their regulation banned crypto as currency transaction or commodity assets, they had did many time for making bitcoin and altcoin as illegal transaction and not easily for accepting the reason of China government want to make bitcoin back to legal.
You share sad story, when China banned crypto at the past. Hopefully China will have a good policy to allow crypto.
In the past, China banned bitcoin several time and all mining activities not allowed there until right now, actually China become most country with large of cryptocurrency transaction than other country but get difficult to make bitcoin as legal currency transaction.
as you stated earlier, the number of bitcoin miners in China is very large. But so far the Chinese government has banned bitcoin. If the Chinese government legalizes bitcoin, we will definitely see bitcoin strengthen further, with support from the large Chinese population.BTC mining was very popular in China, but then their government banned it and most of the miners had to relocate to other locations, there would probably be miners left in China, but they must be mining in secret. I don't know why people worry about what China does concerning BTC, the network works without China and the Chinese economy likewise does not need BTC, so we can leave it at that.
China did not welcome Bitcoin/crypto up to now but look at how Bullrun happens , the crypto market not need China to grow because there are lots of big players that can contribute more than how much china can bring.I understand that exchanges do have users from various countries, even if China does not accept cryptocurrency trading there are still many people from other countries providing support for Bitcoin, but if there is good news they start accepting Cryptocurrency trading and provide support for Bitcoin then the price of Bitcoin will increase very high, much higher than the current price, which is clear that currently there are still many countries that have not fully contributed to Bitcoin. I really hope that other countries start to accept and provide clear legality regarding the use or trading of Bitcoin.
but we will be welcoming this country of course as their contribution will give the market more value in time.
From my own perspective I think china been historical to adverse cryptocurrency, by been some belief that the country may soften it stance. A lot of people believe that china regulations as a cryptocurrency friendly country might lead to a bullrun due to the mass population and economic Influence of the country. Though china having a lot of potential for growth in the cryptocurrency space.I think China changing views on cryptocurrency are important for global crypto market. If China starts to support cryptocurrencies more it could have a big effect because of its large population and strong economy. If China makes rules that are good for crypto it could make more people invest and cause prices to go up.
China did not welcome Bitcoin/crypto up to now but look at how Bullrun happens , the crypto market not need China to grow because there are lots of big players that can contribute more than how much china can bring.
but we will be welcoming this country of course as their contribution will give the market more value in time.
Yes, China contributes greatly to the world economy today. I think if they welcome crypto in their country it will gain a strong impact in their economy, and surely it will be a strong bullrun on the crypto space.
Yes, China contributes greatly to the world economy today. I think if they welcome crypto in their country it will gain a strong impact in their economy, and surely it will be a strong bullrun on the crypto space.
Many comments are similar, that if China supports crypto it will have a good influence on the crypto market. Because China has one of the largest populations, and also one of the largest economies in the world. Is there a way to promise the Chinese government to legalize crypto?
Many comments are similar, that if China supports crypto it will have a good influence on the crypto market. Because China has one of the largest populations, and also one of the largest economies in the world. Is there a way to promise the Chinese government to legalize crypto?That is why the Chinese government does not want to legalize crypto because they already understand the very high risks in cryptocurrency. They are one of the largest economic populations so they don't want to use cryptocurrency because they are worried that it will have a bad impact on their citizens and country.
That is why the Chinese government does not want to legalize crypto because they already understand the very high risks in cryptocurrency. They are one of the largest economic populations so they don't want to use cryptocurrency because they are worried that it will have a bad impact on their citizens and country.China did not illegalize cryptocurrencies either. Bitcoin and other cryptocurrencies are considered as digital properties and they are not illegal in China. What confused people is that China did not consider bitcoin and other cryptocurrencies as as currencies but as properties.
Yes, China contributes greatly to the world economy today. I think if they welcome crypto in their country it will gain a strong impact in their economy, and surely it will be a strong bullrun on the crypto space.
Many comments are similar, that if China supports crypto it will have a good influence on the crypto market. Because China has one of the largest populations, and also one of the largest economies in the world. Is there a way to promise the Chinese government to legalize crypto?
The crypto market has suffered many negative impacts when China has made tough decisions against crypto in recent years:Every time there is negative information from China, the crypto community often worries because bans can cause the crypto market to lose investors and abundant cash flow from China. However, the crypto market continues to grow and is not dependent on any country. Even when China banned Bitcoin mining, miners came to the United States and helped the United States become the leading country in mining power, accounting for 35.4% of the hash rate, nearly double the second place, Kazakhstan, with 18.1%[2].
- 2013: China bans banks from crypto transactions
- 2017: China bans crypto initial coin offerings
- 2019: Attention turns to bitcoin mining
- 2020: Enforcement ramps up
- 2021: China bans crypto trading and mining[1]
Besides, China's relationship with cryptocurrency is more nuanced than the simple "banned" label often applied by Western media. While authorities cracked down on several aspects, individual ownership and peer-to-peer trading remain largely untouched[3].
There are many reasons for this problem, I think that by pushing crypto into the gray area, China might keep crypto at arm's length while exploring blockchain tech and central bank digital currencies e-CNY from 2019: 120 million wallets, 26 cities serving as test beds and 5.6 million merchants registered to use the currency national, total transactions had reached 950 million with a cumulative value of 1.8 trillion yuan (US$249.9 billion) by the end of June 2023[4].
Recently, Hong Kong, which is considered a territory strongly influenced by China, has opened its doors to crypto[5]. This may be an experiment with crypto that China wants to conduct before opening up and adopting crypto in the mainland.
I personally believe that China is wise enough to realize the potential of crypto for the development of the economy, at least regarding the lucrative crypto tax source for the national budget. They are just developing their own CBDC and conducting small-scale testing in Hong Kong before opening up to crypto throughout the territory. If this happens, a huge amount of capital from Chinese investors could flow into the crypto market and create strong growth. I hope that this comes in 2025 and we have an extremely strong bullrun and take BTC to $100K.
What do you think about how China manages crypto? Is this an effective approach? What could China be planning with crypto in the future?
[1] China Crypto Bans: A Complete History (https://www.coindesk.com/learn/china-crypto-bans-a-complete-history/)
[2] 60+ Bitcoin Mining and Energy Consumption Statistics For 2024 You Need to Know (https://www.techopedia.com/bitcoin-mining-and-energy-statistics)
[3] China Never Completely Banned Crypto (https://www.coindesk.com/consensus-magazine/2024/02/05/china-never-completely-banned-crypto/)
[4] What’s the state of China’s digital yuan in 2023? (https://www.scmp.com/economy/china-economy/article/3237317/whats-state-chinas-digital-yuan-2023)
[5] As the US cracks down on crypto, Hong Kong extends a warm welcome (https://techcrunch.com/2023/04/29/hong-kong-china-crypto-east-rises/)
From what I have experienced in my personal life, China is known to be an opportunistic country in cryptocurrencies. China has banned Bitcoin many times before and re-legalized Bitcoin. Although China is a populous country and millions of users from China have invested in Bitcoin, this positive announcement or negative from China.The announcement may not generate much buzz in the Bitcoin market right now. Investors have understood this opportunistic announcement by China, which is why people do not want to take much positive in this announcement of China, regardless of whether China bans or recognizes Bitcoin.If I get you clear, you are talking about China being an opportunist country and I believe being an opportunist country, they always want to see how they could take advantage of things in their favor but I believe wether being opportunist country or not, China has the market power and will and whenever chinese government makes any statement, it affects what ever direction that statement goes or is focused on. They got the population, the have a strong economy so they gave say in the world economy as well. Do not forget that they are are contending force in the production industry so anything they say or do have some side effects as well.
If I get you clear, you are talking about China being an opportunist country and I believe being an opportunist country, they always want to see how they could take advantage of things in their favor but I believe wether being opportunist country or not, China has the market power and will and whenever chinese government makes any statement, it affects what ever direction that statement goes or is focused on. They got the population, the have a strong economy so they gave say in the world economy as well. Do not forget that they are are contending force in the production industry so anything they say or do have some side effects as well.
What do you think about how China manages crypto? Is this an effective approach? What could China be planning with crypto in the future?OMG, you always come up with unique and interesting posts, that are totally new for me, just like the article in this post that says China never bans crypto completely, I mean I read news where the Chinese government punished a government officer for using crypto and gave him a long sentence, I read many other news as well, but what I did not know that $90 billion of dollars are traded only on Binance and only in one month that's shockingly amazing.
If I get you clear, you are talking about China being an opportunist country and I believe being an opportunist country, they always want to see how they could take advantage of things in their favor but I believe wether being opportunist country or not, China has the market power and will and whenever chinese government makes any statement, it affects what ever direction that statement goes or is focused on. They got the population, the have a strong economy so they gave say in the world economy as well. Do not forget that they are are contending force in the production industry so anything they say or do have some side effects as well.
Yes, China has great economic power as one of the countries with the world's largest economy and we know its population is very large, so statements coming out of China about bitcoin will affect the crypto market.
Of a truth China has a great population that could trigger a hike in Bitcoin price and if that happens, it is a good thing and it would positively be in favour of Bitcoin enthusiast. I wish the Chinese government would look into it and see the reasons why Bitcoin is good to be classified as a financial legal tender and immediately approve of it to be adopted and integrated into the financial system of their economy. That alone could trigger other nations looking up to China to follow suit to accepting Bitcoin and other Crypto currency.
If I get you clear, you are talking about China being an opportunist country and I believe being an opportunist country, they always want to see how they could take advantage of things in their favor but I believe wether being opportunist country or not, China has the market power and will and whenever chinese government makes any statement, it affects what ever direction that statement goes or is focused on. They got the population, the have a strong economy so they gave say in the world economy as well. Do not forget that they are are contending force in the production industry so anything they say or do have some side effects as well.
Yes, China has great economic power as one of the countries with the world's largest economy and we know its population is very large, so statements coming out of China about bitcoin will affect the crypto market.
Many people hope that the Chinese government will allow Bitcoin, but we should not hope about that. Because China has always been against Bitcoin. Even though China, as a large country economically and in population, has always opposed Bitcoin, to this day Bitcoin still exists and is more popular than before.
Many people hope that the Chinese government will allow Bitcoin, but we should not hope about that. Because China has always been against Bitcoin. Even though China, as a large country economically and in population, has always opposed Bitcoin, to this day Bitcoin still exists and is more popular than before.The Chinese government is very smart, they will not allow bitcoin to enter their country because they are aware that bitcoin is very dangerous, bitcoin is currently controlled by many people and most of them are the global elite who have a lot of money, perhaps from China's opponents, so that's how It is best for them to strongly reject bitcoin so that their people are not affected by the bad effects of bitcoin.
The crypto market has suffered many negative impacts when China has made tough decisions against crypto in recent years:China has a very large market capacity and there is a lot of news that China wants to defeat the dominance of the US Dollar.
- 2013: China bans banks from crypto transactions
- 2017: China bans crypto initial coin offerings
- 2019: Attention turns to bitcoin mining
- 2020: Enforcement ramps up
- 2021: China bans crypto trading and mining[1]
What do you think about how China manages crypto? Is this an effective approach? What could China be planning with crypto in the future?
From what I have experienced in my personal life, China is known to be an opportunistic country in cryptocurrencies.well that is not just for cryptocurrencies mate but China is opportunistic in everything in this world .
China has banned Bitcoin many times before and re-legalized Bitcoin. Although China is a populous country and millions of users from China have invested in Bitcoin, this positive announcement or negative from China.The announcement may not generate much buzz in the Bitcoin market right now. Investors have understood this opportunistic announcement by China, which is why people do not want to take much positive in this announcement of China, regardless of whether China bans or recognizes Bitcoin.banning bitcoin in china will never bring bitcoin down instead they are just hindering their people to earn and to have chances in this area of profiting and using.
OMG, you always come up with unique and interesting posts, that are totally new for me, just like the article in this post that says China never bans crypto completely, I mean I read news where the Chinese government punished a government officer for using crypto and gave him a long sentence, I read many other news as well, but what I did not know that $90 billion of dollars are traded only on Binance and only in one month that's shockingly amazing.I don't like to dwell on conspiracy theories, but I've always believed that the Chinese government has always had many big plans to increase its position in the world: economically, technologically, and even in crypto. China is very enthusiastic about researching and finding ways to apply blockchain technology, and at the same time implementing CBDC as e-CNY, they don't want to miss out on this attractive market. The only thing we don't know is: when will China return and what strategy will they return with?
Well, this indicates one thing that all the western media or other media that are creating an environment in the world's population's mind, that china is not supporting crypto and strictly prohibit it, are the actors of a single country which is getting the most of the benefit, I mean, before it was china, on which all eyes were, and now its USA and the most benefit is also to USA as well, and there is no doubt that big influencers sitting in USA have great control on all types of medias. Well, sadly that's not right. Things should be made crystal clear to people.
I don't like to dwell on conspiracy theories, but I've always believed that the Chinese government has always had many big plans to increase its position in the world: economically, technologically, and even in crypto. China is very enthusiastic about researching and finding ways to apply blockchain technology, and at the same time implementing CBDC as e-CNY, they don't want to miss out on this attractive market. The only thing we don't know is: when will China return and what strategy will they return with?As you already have stated in your main post about their second division Hong Kong which is crypto-friendly and welcomes every investor and crypto platform. Promoting crypto in every narrative. I already knew the info from BTT shared it a lot of time there, the point is, Chinese might not be allowed to do trading, or other crypto related stuff in public or openly but they can go to HK the second division part of China which have its own monetary system, government system, but still under the control of China. When I get to know this info back in time, I then realized that China is going to make a comeback soon, maybe not now but when some bul run will come. And now your post has shed more light on this case for me that crypto is not banned its just not regulated.
I think there is always room for Chinese investors in the crypto market, and their capital will make the crypto market grow stronger. But I fear that China's CBDC will be learned and applied in other countries, making CBDC popular and having a negative impact on people through high control.Chinese are investing there funds in crypto and there is no doubt in that, they are loyal people I don't think they will face any problem in accepting the CBDC or so called e-cny system. Because they like to pay tax for the sake of there country. I like that kind of mentality. CBDC have its own pros and cons but I suggest it will only increase the adoption of crypto either goes as planned or not.
As you already have stated in your main post about their second division Hong Kong which is crypto-friendly and welcomes every investor and crypto platform. Promoting crypto in every narrative. I already knew the info from BTT shared it a lot of time there, the point is, Chinese might not be allowed to do trading, or other crypto related stuff in public or openly but they can go to HK the second division part of China which have its own monetary system, government system, but still under the control of China. When I get to know this info back in time, I then realized that China is going to make a comeback soon, maybe not now but when some bul run will come. And now your post has shed more light on this case for me that crypto is not banned its just not regulated.We will wait and see the progress of crypto in Hong Kong and the reaction of China. China has been silent throughout the 2020 cycle but recently they have warned people about the insecurity of investing in BTC and crypto. I'm not sure this is negative news, maybe they are just preparing to accept crypto after the success of Hong Kong.
Chinese are investing there funds in crypto and there is no doubt in that, they are loyal people I don't think they will face any problem in accepting the CBDC or so called e-cny system. Because they like to pay tax for the sake of there country. I like that kind of mentality. CBDC have its own pros and cons but I suggest it will only increase the adoption of crypto either goes as planned or not.
Ban or not, it doesnt matter because this market could pump out with or without them. Come to think that we've been into those peaks without needing anyone.The growth of the crypto market in the 2021 bullrun is perhaps the clearest evidence that the crypto market is not dependent on any country. However, it would be better if the market had more investors and money flow.
It would matter in overall or global recognition or adoption but of course there would be some exclusions into those countries or government who do really hate up crypto.
Somehow we cant really be able to deny that on the time that China would really be kicking in then it would really be giving out that kind of significant effect
which it could drive up the price even more. Cant really deny their purchasing power when it comes on everything.
Investments in the financial sector of the economy instead of the real one can have a very negative impact in the future. Already now the share of the financial sector is very significantly higher than the share of the real one, and this is not good. Regarding China, there are smart people in the government of the country and they understand that the development of crypto is not for them priority task. They don’t know what to do with US government debt bonds, and then there’s crypto. And above all, the Chinese government is able to influence the decision-making of private capital that exists in their country.Ban or not, it doesnt matter because this market could pump out with or without them. Come to think that we've been into those peaks without needing anyone.The growth of the crypto market in the 2021 bullrun is perhaps the clearest evidence that the crypto market is not dependent on any country. However, it would be better if the market had more investors and money flow.
It would matter in overall or global recognition or adoption but of course there would be some exclusions into those countries or government who do really hate up crypto.
Somehow we cant really be able to deny that on the time that China would really be kicking in then it would really be giving out that kind of significant effect
which it could drive up the price even more. Cant really deny their purchasing power when it comes on everything.
Many people have blamed the fact that BTC was unable to reach $100K in 2021 on the FED's decision or the weak participation of Chinese investors. Therefore, I believe that when investors in the world's second largest economy participate in the crypto market, the explosion of crypto will be even more violent, especially for tokens with teams in China such as Neo and Tron.
I hope that the experiment in Hong Kong will soon bring good results and that China will open up to crypto in early 2025, creating the momentum for crypto total cap to surpass Gold cap ~ $15.4T in this cycle.
Investments in the financial sector of the economy instead of the real one can have a very negative impact in the future. Already now the share of the financial sector is very significantly higher than the share of the real one, and this is not good. Regarding China, there are smart people in the government of the country and they understand that the development of crypto is not for them priority task. They don’t know what to do with US government debt bonds, and then there’s crypto. And above all, the Chinese government is able to influence the decision-making of private capital that exists in their country.Yeah, I understand this. China is not really ready for crypto yet, or to be more precise, they are not ready to take the risk of accepting crypto into their national economy. The CBDC e-CNY is a countermeasure they have taken to adapt to crypto, but it has not been really effective. Currently, along with the crypto experiment in Hong Kong, China is also facing deflation in the country, which is even more stressful than the inflation in the US, EU and Japan. I still hope that in the future, China will open up to crypto and we can see positive things from wealthy investors in China in this market.
Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto marketInvestments in the financial sector of the economy instead of the real one can have a very negative impact in the future. Already now the share of the financial sector is very significantly higher than the share of the real one, and this is not good. Regarding China, there are smart people in the government of the country and they understand that the development of crypto is not for them priority task. They don’t know what to do with US government debt bonds, and then there’s crypto. And above all, the Chinese government is able to influence the decision-making of private capital that exists in their country.Yeah, I understand this. China is not really ready for crypto yet, or to be more precise, they are not ready to take the risk of accepting crypto into their national economy. The CBDC e-CNY is a countermeasure they have taken to adapt to crypto, but it has not been really effective. Currently, along with the crypto experiment in Hong Kong, China is also facing deflation in the country, which is even more stressful than the inflation in the US, EU and Japan. I still hope that in the future, China will open up to crypto and we can see positive things from wealthy investors in China in this market.
Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto marketI don't dare to expect such a big change from the Chinese government, because it may not be really good if crypto is accepted hastily without being studied carefully enough. El Salvador can easily adopt BTC because they don't have a national currency, while China has a strong national currency, the CNY. A bad crypto strategy can cause problems for the economy and the consequences will be global, negatively impacting many markets.
China's population plays a big role in every development that is carried out, including, of course, crypto. I really agree with you that if crypto can be developed and used there, then the impact will occur with crypto indirectly, because trade is very active with increasing Chinese being able to participate. China is a country that is very technologically advanced, so one day they will make good use of crypto or at least develop their own, which in fact the goal may be in that direction. We don't know and will just wait for further developments.Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto marketInvestments in the financial sector of the economy instead of the real one can have a very negative impact in the future. Already now the share of the financial sector is very significantly higher than the share of the real one, and this is not good. Regarding China, there are smart people in the government of the country and they understand that the development of crypto is not for them priority task. They don’t know what to do with US government debt bonds, and then there’s crypto. And above all, the Chinese government is able to influence the decision-making of private capital that exists in their country.Yeah, I understand this. China is not really ready for crypto yet, or to be more precise, they are not ready to take the risk of accepting crypto into their national economy. The CBDC e-CNY is a countermeasure they have taken to adapt to crypto, but it has not been really effective. Currently, along with the crypto experiment in Hong Kong, China is also facing deflation in the country, which is even more stressful than the inflation in the US, EU and Japan. I still hope that in the future, China will open up to crypto and we can see positive things from wealthy investors in China in this market.
China's population plays a big role in every development that is carried out, including, of course, crypto. I really agree with you that if crypto can be developed and used there, then the impact will occur with crypto indirectly, because trade is very active with increasing Chinese being able to participate. China is a country that is very technologically advanced, so one day they will make good use of crypto or at least develop their own, which in fact the goal may be in that direction. We don't know and will just wait for further developments.China is actively researching and applying blockchain technology to their country. We don't know exactly how they are applying blockchain technology to supply chains or transportation and education, everything is still a secret, but we know that there are blockchain alliances operating in China such as Blockchain-based Service Network. I have a feeling they are looking for ways to avoid the concept of crypto so as not to violate the regulations that are being applied to crypto. I doubt the feasibility of this effort because blockchain needs crypto to operate in a decentralized and sustainable manner. If China still wants to apply and take advantage of the value of blockchain technology, they will have to accept crypto.
I doubt the feasibility of this effort because blockchain needs crypto to operate in a decentralized and sustainable manner. If China still wants to apply and take advantage of the value of blockchain technology, they will have to accept crypto.Sorry friends, but I don't agree with the statement that blockchain requires crypto... because as far as I know, blockchain is a collection of chained data and it is not always represented in the form of cryptocurrency. China can still implement blockchain technology for the needs of its government or citizens without having to involve crypto...
China really wants to always be at the forefront in the application of technology and be able to create something that is the same as what already exists. You are right, to avoid breaking the rules, you can be sure they will use another concept. It could even be similar or better in terms of the concept. We're waiting for that because I foresee no difficulty for them to be able to implement that at some point., Agree that they must first be willing to accept crypto so that there can be comparisons or to make it easier to do what they want to do in their own way.China's population plays a big role in every development that is carried out, including, of course, crypto. I really agree with you that if crypto can be developed and used there, then the impact will occur with crypto indirectly, because trade is very active with increasing Chinese being able to participate. China is a country that is very technologically advanced, so one day they will make good use of crypto or at least develop their own, which in fact the goal may be in that direction. We don't know and will just wait for further developments.China is actively researching and applying blockchain technology to their country. We don't know exactly how they are applying blockchain technology to supply chains or transportation and education, everything is still a secret, but we know that there are blockchain alliances operating in China such as Blockchain-based Service Network. I have a feeling they are looking for ways to avoid the concept of crypto so as not to violate the regulations that are being applied to crypto. I doubt the feasibility of this effort because blockchain needs crypto to operate in a decentralized and sustainable manner. If China still wants to apply and take advantage of the value of blockchain technology, they will have to accept crypto.
I was surprised when China declared ban. I wasn't expecting them to do so because they have foresight and should have seen the future of bitcoin and cryptocurrency. I had thought that it was a strategy to make US ban bitcoin as well and they will return to colonize the industry. But their ploy failed. I have known China to be the rival of US and vice versa. Maybe the reason US didn't toe their lane. Expect China's return to the industry in a big and dynamic way.China's population plays a big role in every development that is carried out, including, of course, crypto. I really agree with you that if crypto can be developed and used there, then the impact will occur with crypto indirectly, because trade is very active with increasing Chinese being able to participate. China is a country that is very technologically advanced, so one day they will make good use of crypto or at least develop their own, which in fact the goal may be in that direction. We don't know and will just wait for further developments.China is actively researching and applying blockchain technology to their country. We don't know exactly how they are applying blockchain technology to supply chains or transportation and education, everything is still a secret, but we know that there are blockchain alliances operating in China such as Blockchain-based Service Network. I have a feeling they are looking for ways to avoid the concept of crypto so as not to violate the regulations that are being applied to crypto. I doubt the feasibility of this effort because blockchain needs crypto to operate in a decentralized and sustainable manner. If China still wants to apply and take advantage of the value of blockchain technology, they will have to accept crypto.
I heard the Hongkong regulator is approving their BTC ETFs. This will certainly make the bull run continues.
Yeah I have the same feelings. The action by Hong Kong could be partly the attitude of China. China will do what it needs for the economy. Because of the characteristics of Hong Kong, it could be a good place to test the water and also release the signal for investors from China. Overall it will contribute to the crypto marketsIf the bull run continues, then why has the price of Bitcoin on the market shown an extraordinary decline recently? Shouldn't the price of bitcoin rise again and surprise many people again? I don't think Hong Kong will have any influence on China and will remain with its stance of not caring about any type of cryptocurrency, including Bitcoin.
I think one of the reasons is that China has been out of the loop for a while in the cryptos market. It has sizes and potential and hasn't been a huge voice yet due to its own policy against cryptos in the past years. People in China still have buying power but considering the economic downtrend recently their attitude toward Bitcoin is still up in the air. The impact may not come right away. Besides, Hong Kong is considered one of the largest financial centers in Asia. Though it was left behind in this industry, the signals of embracing cryptos can boost the confidence of people in China.Yeah I have the same feelings. The action by Hong Kong could be partly the attitude of China. China will do what it needs for the economy. Because of the characteristics of Hong Kong, it could be a good place to test the water and also release the signal for investors from China. Overall it will contribute to the crypto marketsIf the bull run continues, then why has the price of Bitcoin on the market shown an extraordinary decline recently? Shouldn't the price of bitcoin rise again and surprise many people again? I don't think Hong Kong will have any influence on China and will remain with its stance of not caring about any type of cryptocurrency, including Bitcoin.
I have a position in China that is very opportunistic with the issue of bitcoin and crypto, for them the best is their own stablecoin, and there is no other, because for bitcoin they have done a very good job propagating it and then completely filling bitcoin with FUD Of course, I am a person who does not believe in any government, any politician, no matter how much he says and promises good things, because it is very similar to what Elon Musk did because he spoke badly about bitcoin, so these types of things for a country that tell them now that it is pro-bitcoin or pro-crypto, because there is a very large itnere's, of course it will give a bullish impulse, but it will also exert strong pressure on those Chinese citizens who have great control over them, it is beneficial so that they can raise the price of bitcoin, but I wouldn't trust much of what this country says because I know that later they will speak badly about bitcoin.In fact, we know that China is one of the countries with the largest economy in the world, but until now China has not supported and allowed bitcoin and crypto there. Maybe if China legalizes bitcoin, the price of bitcoin will be higher than today because it has a large crypto community.
I have a position in China that is very opportunistic with the issue of bitcoin and crypto, for them the best is their own stablecoin, and there is no other, because for bitcoin they have done a very good job propagating it and then completely filling bitcoin with FUD Of course, I am a person who does not believe in any government, any politician, no matter how much he says and promises good things, because it is very similar to what Elon Musk did because he spoke badly about bitcoin, so these types of things for a country that tell them now that it is pro-bitcoin or pro-crypto, because there is a very large itnere's, of course it will give a bullish impulse, but it will also exert strong pressure on those Chinese citizens who have great control over them, it is beneficial so that they can raise the price of bitcoin, but I wouldn't trust much of what this country says because I know that later they will speak badly about bitcoin.In fact, we know that China is one of the countries with the largest economy in the world, but until now China has not supported and allowed bitcoin and crypto there. Maybe if China legalizes bitcoin, the price of bitcoin will be higher than today because it has a large crypto community.
For now I think few cities only hosts cryptocurrency activities like Hongkong which is I think very open to crypto. I think they already approved Bitcoin and Ethereum ETF if I am not mistaken. But if China, Russia, North Korea and other communist countries I think it has huge impact in the cryptocurrency market but we all know it seems not possible right now. 😅It's true, Hong Kong has approved ETFs, but China and several countries you mentioned are still adamant about prohibiting the use of cryptocurrencies in their countries and will never give any ETF permission for cryptocurrencies including Bitcoin. They are a very developed country with very good economic conditions. They don't want their country to be destroyed because they allow their people to carry out cryptocurrency trading activities which have the potential to make them bankrupt.
I have a position in China that is very opportunistic with the issue of bitcoin and crypto, for them the best is their own stablecoin, and there is no other, because for bitcoin they have done a very good job propagating it and then completely filling bitcoin with FUD Of course, I am a person who does not believe in any government, any politician, no matter how much he says and promises good things, because it is very similar to what Elon Musk did because he spoke badly about bitcoin, so these types of things for a country that tell them now that it is pro-bitcoin or pro-crypto, because there is a very large itnere's, of course it will give a bullish impulse, but it will also exert strong pressure on those Chinese citizens who have great control over them, it is beneficial so that they can raise the price of bitcoin, but I wouldn't trust much of what this country says because I know that later they will speak badly about bitcoin.In fact, we know that China is one of the countries with the largest economy in the world, but until now China has not supported and allowed bitcoin and crypto there. Maybe if China legalizes bitcoin, the price of bitcoin will be higher than today because it has a large crypto community.
Well, I hope it is like that because we are not people who can generate very good market speculation options, but I think if China releases that they can buy Bitcoin , that will Undoubtedly lead to a great rise in the price of bitcoin and that will be decisive for that we can generate high-level speculations, but if China allows bitcoin, I imagine that it will impose a large tax on those who do not use it, but given that China is such a large country, with one of the best economies in the world, just as you say , since it can trigger many good things or, above all, for bitcoin to rise in price, although we all know that in China they do manage bitcoin under privacy and Anonymity protocols.As long as Hong Kong continues to accept crypto, I will still have expectations for the return of investment capital from the mainland into this market. For now, we can wait for the success of BTC & ETH Spot ETFs in Hong Kong, which will be a good sign that people are really interested in the crypto market and that the Chinese government will have more motivation to allow crypto to be traded legally as before.
Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto market
In fact, I think the Chinese government has enough high-level economic advisers who know and understand their own economy and the consequences of making certain economic decisions better than us. And the planning horizon, as in any serious government, is not a year or 5 years, but at least 50. So if they don’t do this, there are serious reasons for this.Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto marketInvestments in the financial sector of the economy instead of the real one can have a very negative impact in the future. Already now the share of the financial sector is very significantly higher than the share of the real one, and this is not good. Regarding China, there are smart people in the government of the country and they understand that the development of crypto is not for them priority task. They don’t know what to do with US government debt bonds, and then there’s crypto. And above all, the Chinese government is able to influence the decision-making of private capital that exists in their country.Yeah, I understand this. China is not really ready for crypto yet, or to be more precise, they are not ready to take the risk of accepting crypto into their national economy. The CBDC e-CNY is a countermeasure they have taken to adapt to crypto, but it has not been really effective. Currently, along with the crypto experiment in Hong Kong, China is also facing deflation in the country, which is even more stressful than the inflation in the US, EU and Japan. I still hope that in the future, China will open up to crypto and we can see positive things from wealthy investors in China in this market.
Well, I hope it is like that because we are not people who can generate very good market speculation options, but I think if China releases that they can buy Bitcoin , that will Undoubtedly lead to a great rise in the price of bitcoin and that will be decisive for that we can generate high-level speculations, but if China allows bitcoin, I imagine that it will impose a large tax on those who do not use it, but given that China is such a large country, with one of the best economies in the world, just as you say , since it can trigger many good things or, above all, for bitcoin to rise in price, although we all know that in China they do manage bitcoin under privacy and Anonymity protocols.As long as Hong Kong continues to accept crypto, I will still have expectations for the return of investment capital from the mainland into this market. For now, we can wait for the success of BTC & ETH Spot ETFs in Hong Kong, which will be a good sign that people are really interested in the crypto market and that the Chinese government will have more motivation to allow crypto to be traded legally as before.
The legal framework and tax will be an inevitable part of the plan to manage the crypto market. We don't need to worry too much about this issue because if the Chinese government wants to allow the crypto market to exist, it will not be too greedy and set too high a tax rate.
You are right, theoretically, as more countries want to adopt Bitcoin, its popularity will increase and trading will definitely become more active, which will result in prices possibly also increasing. China has banned it because the mining that takes place there really disrupts the ecosystem in their country, but if we want to accept it now, it will be because there are other elements that we may not yet know about.Actually, China should start developing their crypto and allow crypto to be used by its citizens, because several countries have legalized bitcoin as an investment. If China takes the role of legalizing Bitcoin as one of the countries with the largest population and economy, it will have a good impact on the crypto marketIf more countries are accepting crypto then the popularity of crypto will increase as a consequence of which it will become more successful. But the government of each country thinks differently so I think if China has not accepted crypto yet then there will be some reason behind it which we cannot understand.
The success of crypto is related to the adoption by the people therefore I think if China accepts crypto then Bitcoin price will increase even more than newly created ATH.
Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.This is a scenario that many investors are hoping for, as China is the world's 2nd largest economy and its citizens are willing to take on higher risks and invest more in crypto to change their financial situation. China's crypto policy is also quite interesting: they do not ban crypto outright, they still recognize crypto as an asset, and they allow Hong Kong to adopt crypto as a small-scale experiment.
You are right, theoretically, as more countries want to adopt Bitcoin, its popularity will increase and trading will definitely become more active, which will result in prices possibly also increasing. China has banned it because the mining that takes place there really disrupts the ecosystem in their country, but if we want to accept it now, it will be because there are other elements that we may not yet know about.
Hopefully, this is good news, not just increasing the popularity of others.
Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.There is a lot of talk about something like this which is also very good at building hype itself. because if a discussion is being held here about this then in other places the same discussion may also be taking place. And yes, this hype is what sometimes drives adoption itself.
We cannot deny that China is a large country and has a very rapidly developing economy, so any news about that country will make a contribution to what is reported, as well as the question of the return of bitcoin may return there, so this news will inevitably make a big contribution to the development of bitcoin itself.Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.There is a lot of talk about something like this which is also very good at building hype itself. because if a discussion is being held here about this then in other places the same discussion may also be taking place. And yes, this hype is what sometimes drives adoption itself.
And talking about China, of course this increasingly advanced economic country always attracts global attention nowadays. so every policy always attracts a lot of media news. So there's no mistaking it if China starts supporting crypto then it will be quite hype news. but yeah that won't make prices rise rapidly. Maybe a few percent increase is possible. And slowly returning to normal after the hype is over.
Way too many people are talking about it, I remember the time when China wasn't against bitcoin, and they had bunch of miners, almost all of bitcoin mining was there, that wasn't like 100 years ago, its recent memory, and bitcoin did well but not like something unreal happened. We should definitely consider that as a good news if it ever happens again, it would be something to celebrate, but do not expect like overnight a million dollars per coin type of thing, maybe a small increase but that's about it. I don't get why people suddenly started to talk about this, and not only that but hype the possibility as well.The Chinese government's attitude towards crypto won't change so easily. But if that changes, it could lead to a revolution in cryptocurrency. But what I understand is why crypto is being discouraged in that country. It has now become a diplomatic issue. Since the US has a positive view on crypto, the Chinese government will never take it positively. This is the main problem. But if the Chinese government were to favor its country's miners, the country would benefit the most from crypto and add a new dimension to cryptocurrencies. I hope that the attitude of the government of that country will definitely change in the future.
The Chinese government's attitude towards crypto won't change so easily. But if that changes, it could lead to a revolution in cryptocurrency. But what I understand is why crypto is being discouraged in that country. It has now become a diplomatic issue. Since the US has a positive view on crypto, the Chinese government will never take it positively. This is the main problem. But if the Chinese government were to favor its country's miners, the country would benefit the most from crypto and add a new dimension to cryptocurrencies. I hope that the attitude of the government of that country will definitely change in the future.I don't think China wants to confront the US in all areas, including crypto. The Cold War is long over, and the current goal of each country is to develop its own economy and technology to have a greater say in global affairs. In addition, China has been unsympathetic to crypto since 2017, at a time when the US was not yet strongly supporting or accepting crypto as it is now. Similarly, if a CBDC is passed in the US, while I don't want to see this happen, China would not abandon its e-CNY, which it is widely testing.
The Chinese government's attitude towards crypto won't change so easily. But if that changes, it could lead to a revolution in cryptocurrency. But what I understand is why crypto is being discouraged in that country. It has now become a diplomatic issue. Since the US has a positive view on crypto, the Chinese government will never take it positively. This is the main problem. But if the Chinese government were to favor its country's miners, the country would benefit the most from crypto and add a new dimension to cryptocurrencies. I hope that the attitude of the government of that country will definitely change in the future.China has experienced times when it accepted crypto, but due to environmentally damaging mining reasons and other issues, ultimately banned it from being accepted. Maybe it's certain that they want to be able to master or control crypto, especially Bitcoin, but they can't do it and this is a problem in itself for the future of crypto development in their country. So, because their country's system is that power rests with the state, no one will be able to intervene in any decision made by the highest leadership, in contrast to European/US countries which may be flexible in dealing with crypto.
China has experienced times when it accepted crypto, but due to environmentally damaging mining reasons and other issues, ultimately banned it from being accepted. Maybe it's certain that they want to be able to master or control crypto, especially Bitcoin, but they can't do it and this is a problem in itself for the future of crypto development in their country. So, because their country's system is that power rests with the state, no one will be able to intervene in any decision made by the highest leadership, in contrast to European/US countries which may be flexible in dealing with crypto.Until now, the CBDC that China is testing is the only clue regarding China's opinion about cryptocurrency. This country has a huge influence on the world economy, and we can only see the government's decision whether it will still accept cryptocurrency as a decentralized digital currency or not.
We believe that one day China will be able to accept crypto again, but it's not easy to know when that will happen.