1
Cryptocurrency discussions / Re: If China soon welcomes crypto: strong bullrun?
« on: April 24, 2024, 09:32:26 PM »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.