If China soon welcomes crypto: strong bullrun?

[target]

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.

It does mean that Hongkong will be the center of crypto in China.  But crypto trading elsewhere in China is illegal?

From what I heard, only the financial institutions are not allowed to invest in crypto but Chinese citizen are all allowed to. Not sure when this started, only those influencers are the sources of this info.

[DrBeer]

The problem with the topic is what's described here.... an unrealistic prognosis. In today's China, with its new vector chosen by the leading party - decentralization, anonymity and freedoms - this is something that is clearly not only not going to be supported, but is likely to be "persona non grata" in China's financial system and outlawed for Chinese citizens. Hong Kong and Macao are completely different objects of the Chinese economy, as connectors to the Western world, and they will probably retain some freedoms, because without it, interaction with the Western world is impossible.

[Gurujebs]

If I see any country legalize bitcoin or cryptocurrency, then I fear that Bitcoin top is in and I will start selling because adoption should come at worst moment of a technology and not when it's ripe for people. Even if China says they are going to legalize and welcome crypto, it will only be because of reelection and just like the way Trump is doing right now just to make sure he get into the office as the new president of the united state of America.

However, if they are doing it strictly because of real adoption then we should expect to see high regulations coming from the government which maybe favorable and not favorable for some people particularly places where it can favour the government.

[bounceback]

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.
 You share sad story, when China banned crypto at the past.  Hopefully China will have a good policy to allow crypto.

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.
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.

[examplens]

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.

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.

[IvugeoEvolutionCoin]

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.

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.

[Gurujebs]

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.

You can't win the media, only those who control the economy controls the media and this is why the government always win the race everytime. Look at the crypto media, how many did we have? Cointelegraph and Coindesk are the largest with other few news outlets and they are the ones that love to support bitcoin but we don't have even a single TV shows for Bitcoin and crypto and that's because it will be take down under a week.

So you see why you can't control how crypto news is passed around, even the YouTube and tiktok some people use are been censored because government and their platform is anti crypto, the only good platform is only Twitter which is now X.

[bhadz]

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.

[antonyyu3]

I agree with you. Crypto market is so large and full of endless possibilities. As the second-largest economy, I believe China will not let go of this chance. Considering the slump in its economy, it will try to activate its muscles and make an impact. China's e-currency has also launched and I do believe the gov will make it work.

[MrSpasybo]

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.

Recently, in the context of the sharp increase in BTC price, the Chinese government has continued to warn people about the risks in the crypto market. I think this is a confirmation that China doesn't want a complete ban, they just haven't found a way to properly manage crypto.

[kulkhan]

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.

[legend45]

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.

[MrSpasybo]

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.

Hong Kong has opened up to crypto, I think if this experiment is successful, China will announce a change in their stance on crypto!

[Rubel007]

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.
 You share sad story, when China banned crypto at the past.  Hopefully China will have a good policy to allow crypto.

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.
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.

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.

[Z-tight]

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.