Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Bobcrypto on January 01, 2025, 05:49:28 PM
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Recently, China was up again on it's anti crypto stand by making new rules on the existing policy. When other nations are considering adding Bitcoin reserve, China is still busy tightening crypto trades oversight with forex rules. I have considered this as a laughable approach because, while world economy is on the verge of entering a new level of financial growth, China is still working contrary to economic reality.
How far can China go with all these rules? You know, A tree can not form forest.
check here: https://cointelegraph.com/news/china-banks-crypto-transaction-scrutiny
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If you noticed it keenly then you can find that China is making difficult for their people to buy Bitcoin but as government China is accumulating Bitcoins for very long time and I read in a reddit post that said they have around 200K Bitcoin in their treasury which is huge in numbers right?
So we don't really know what's happening behind the curtain so don't forget to accumulate for your better future.
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Funny how many of us thinks we can do better with a country's financial economy when we're not in the position to do so. You can laugh all you want about their policies but they should know what they are doing. Trump adding BTC to the US federal reserves or El Salvador doesn't mean they have advantage over other countries like China.
~ and I read in a reddit post that said they have around 200K Bitcoin in their treasury which is huge in numbers right?
The article in the OP says around 194,000 BTC accumulated through seizures linked to illegal acts.
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How long will China not be enticed to reenter the world and market of cryptocurrency again and maybe dominate the market once more? To answer that: maybe as long as they still don't see the need to be a big part of it. Right now, the government of China is not yet interested to reevaluate the possibility of letting cryptocurrency come to its corridor. But maybe by the time Russia will go all-out for it, China would have no choice but to say YES. The USA under Trump will be making headways for the industry let's hope that China can feel jealousy so it would change its anti-crypto stand. China is one big single market for cryptocurrency and can be considered our biggest whale if it would soon open its door but for now this is just our wish.
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While their government is standing by their anti-crypto policies, there are some Chinese Bitcoin Miners out there and Chinese people using cryptocurrencies still. I guess this just shows that they can't really prevent their people to use cryptocurrencies at all.
Their allied country, Russia is using Bitcoin and cryptocurrency already while they are still standing on their stance. They can just continue to do it until they realize that they must've considered using Bitcoin a few years ago. I guess they don't want to use something that they can't control at all. I mean we know CCP as a government that wants to control all on their country. Well, they might be imposing sanctions here and there, but they might be accumulating Bitcoin in silence. :D
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Recently, China was up again on it's anti crypto stand by making new rules on the existing policy. When other nations are considering adding Bitcoin reserve, China is still busy tightening crypto trades oversight with forex rules. I have considered this as a laughable approach because, while world economy is on the verge of entering a new level of financial growth, China is still working contrary to economic reality.
How far can China go with all these rules? You know, A tree can not form forest.
check here: https://cointelegraph.com/news/china-banks-crypto-transaction-scrutiny
They started their hard line stance on crypto in 2018 when they ban bitcoin mining and then push out crypto exchange like Binance. So yeah but now after 7-8 years their decisions might haunt them for good.
Good question, when US is now mentioning Bitcoin a possibility national bitcoin reserve, they might change their minds too. Russia has also shown interest, so if they still will not go full Bitcoin or crypto in general, they might be left out of this competition or race and it will boils down to US vs Russia again.
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If you noticed it keenly then you can find that China is making difficult for their people to buy Bitcoin but as government China is accumulating Bitcoins for very long time and I read in a reddit post that said they have around 200K Bitcoin in their treasury which is huge in numbers right?
So we don't really know what's happening behind the curtain so don't forget to accumulate for your better future.
The Chinese government is doing what many governments in other countries probably do, accumulate Bitcoins. It is the same old movie, for the citizens of any country, do what I tell you but don't do what I do. The United States also has a large amount of Bitcoins accumulated, Germany sold several thousand a few months ago... According to them, Bitcoin only serves to attack the dollar and carry out fraudulent transactions that go against the laws, but everyone wants to have more Bitcoins.
The best we can do is accumulate as much as we can, since after seeing these things for years what is clear is their double standards.
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I think this is due to state policies, as the ruling party in China controls all political and economic life, and the degree of freedom that Bitcoin provides is not desirable in capitalist countries, let alone socialist countries. Over time, these policies will change to less strict policies, especially if Bitcoin succeeds in being neutral from political crises.
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Recently, China was up again on it's anti crypto stand by making new rules on the existing policy. When other nations are considering adding Bitcoin reserve, China is still busy tightening crypto trades oversight with forex rules. I have considered this as a laughable approach because, while world economy is on the verge of entering a new level of financial growth, China is still working contrary to economic reality.
check here: https://cointelegraph.com/news/china-banks-crypto-transaction-scrutiny
And yet they hold a huge amount of Bitcoin in their reserves
China has 194,000 BTC, which was worth about $18 billion at the time of writing. This makes China the second-largest country in terms of Bitcoin holdings.
This is a big contradiction in their policy; they do not practice what they preach; they do not want their citizens to trade Bitcoin, and yet they continue to accumulate. Their leaders really practice communist teaching; their leaders only have a say while their citizen have no right to accumulate
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Funny how many of us thinks we can do better with a country's financial economy when we're not in the position to do so. You can laugh all you want about their policies but they should know what they are doing. Trump adding BTC to the US federal reserves or El Salvador doesn't mean they have advantage over other countries like China.
You think they care about the economeis of those countries?
No, they think only about the price and China buyign Bitcoin would increase that by a huge margin, that's all.
Salvador had for 3 consecutive years the lowest economic growth in Central America, how has crypto helped them as a nation? ;D
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I think this is due to state policies, as the ruling party in China controls all political and economic life, and the degree of freedom that Bitcoin provides is not desirable in capitalist countries, let alone socialist countries. Over time, these policies will change to less strict policies, especially if Bitcoin succeeds in being neutral from political crises.
The question is not whether or not Bitcoin can be neutral in political crises. The problem is that political parties are not going to allow Bitcoin to be neutral, an example is Trump's statements, and the people to whom he has given political positions for his new stage in the White House. It's been a while since I paid attention to the news coming out of China about Bitcoin, but something tells me that although we do not see much news from the Chinese government, its leaders continue to accumulate to face a possible (or very certain) digital war while several countries try to abandon the US dollar.
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It's still tried to grip it's control but they loosely tight their rules in Hong Kong. It's the only places in China where crypto can be freely be traded and adopted.
The country will always preserve where they can hold. The whole world will adopt BTC and cryptocurrency as experimented for more than a decade, but the mainland will still stand on what has been preferred since ancient times which is the gold. They have been buying gold for decades according to different news media.
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It's been a while since I paid attention to the news coming out of China about Bitcoin, but something tells me that although we do not see much news from the Chinese government, its leaders continue to accumulate to face a possible (or very certain) digital war while several countries try to abandon the US dollar.
Let's break a bit down this:
- China and the US might come to a full-blown digital war
- US is stockpiling Bitcoins
- China is the sole producer of ASIC machines....
- The US plans to buy 100 billion worth of Bitcoin for strategic reserves
- It would cost China at reseller price 10 billion to get 60% of the hashrate
Which one is more at risk in case of a full war? ;)
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Recently, China was up again on it's anti crypto stand by making new rules on the existing policy. When other nations are considering adding Bitcoin reserve, China is still busy tightening crypto trades oversight with forex rules. I have considered this as a laughable approach because, while world economy is on the verge of entering a new level of financial growth, China is still working contrary to economic reality.
How far can China go with all these rules? You know, A tree can not form forest.
China has maintained a cautious stance on crypto for many years and without a significant reason, they will not change this viewpoint. This is because the Chinese government does not like to admit mistakes, or rather, to maintain absolute power, they are not allowed to make mistakes. I am not surprised by their recent actions in tightening BTC liquidity with foreign fiat, they are trying to accuse BTC of being linked to money laundering activities.
Perhaps the Chinese government is trying to divert public attention from the weakness and instability of the economy, and BTC is a fairly suitable choice because Satoshi will not appear just to sue the Chinese government. What's even more interesting is that China is still holding 190K BTC from criminals, they really understand the value of BTC ^^
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I hope that people who believe that one day China will change their stance about BTC will forget about that, because i do not think that it will happen. China will not 'accept' BTC, though what this news is talking about is the same thing many countries are doing, which to put in one word is regulation, though some are stricter than the other.
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Recently, China was up again on it's anti crypto stand by making new rules on the existing policy. When other nations are considering adding Bitcoin reserve, China is still busy tightening crypto trades oversight with forex rules. I have considered this as a laughable approach because, while world economy is on the verge of entering a new level of financial growth, China is still working contrary to economic reality.
they probably still think that crypto would eventually crash and everyone who got involved with it will regret their decision and they would be the ones to come out on top i think it is quite ironic that china was supposed to be part of the newest technology but they are so set in their old ways they might actually get left behind
imo even if china thinks crypto will crash they should still try to take advantage because it is evident that one can make profit with it but i guess their desire to always be in control of their people reigns over the possible benefits bitcoin can bring
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If you noticed it keenly then you can find that China is making difficult for their people to buy Bitcoin but as government China is accumulating Bitcoins for very long time and I read in a reddit post that said they have around 200K Bitcoin in their treasury which is huge in numbers right?
So we don't really know what's happening behind the curtain so don't forget to accumulate for your better future.
The Chinese government is doing what many governments in other countries probably do, accumulate Bitcoins. It is the same old movie, for the citizens of any country, do what I tell you but don't do what I do. The United States also has a large amount of Bitcoins accumulated, Germany sold several thousand a few months ago... According to them, Bitcoin only serves to attack the dollar and carry out fraudulent transactions that go against the laws, but everyone wants to have more Bitcoins.
The best we can do is accumulate as much as we can, since after seeing these things for years what is clear is their double standards.
It is precisely a double standard for a country to keep kicking against a better knowledge, while they try to ignore the immense benefits of Bitcoin even when it is obvious that Bitcoin has the capacity as a store of value, and a hedge against inflation.
Experts has testified the biggest advantage of Bitcoin over Fiats, there are wide gaps between Bitcoin features and what fait can offer, I believe China knew all this, but they prefer to hinder her citizens and going behind to be accumulating Bitcoin. In my opinion, China is not just playing a double standard but this is just deceitful in my opinion.
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Yes, this is really confusing, why is China is issuing more strict laws towards Bitcoin and cryptocurrencies at a time when countries are starting to open up and take strategic reserves of Bitcoin?
The most likely reason is probably because they have an authoritarian government that refuses to let its citizens go outside its control, as we know Bitcoin is decentralized and out of control so this does not please China, although I would have thought that they would move towards opening up more to Bitcoin as the US did, at least in the context of economic competition with the US.
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If you noticed it keenly then you can find that China is making difficult for their people to buy Bitcoin but as government China is accumulating Bitcoins for very long time and I read in a reddit post that said they have around 200K Bitcoin in their treasury which is huge in numbers right?
So we don't really know what's happening behind the curtain so don't forget to accumulate for your better future.
It sounds like they want to take advantage offered by BItcoin, while also preventing their citizen to do same thing. It reminds of Russia's law which allow cryptocurrency usage only to prevent sanction.
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If you noticed it keenly then you can find that China is making difficult for their people to buy Bitcoin but as government China is accumulating Bitcoins for very long time and I read in a reddit post that said they have around 200K Bitcoin in their treasury which is huge in numbers right?
So we don't really know what's happening behind the curtain so don't forget to accumulate for your better future.
It sounds like they want to take advantage offered by BItcoin, while also preventing their citizen to do same thing. It reminds of Russia's law which allow cryptocurrency usage only to prevent sanction.
Exactly, they want to take the advantage of Bitcoin's growth and being the future of monetary system while they don't want their citizens to have the same level of freedom when it comes to money spending so it's evident that China sees bitcoin as inevitable asset of future so there's no reason for individual to assume we shouldn't be holding any.
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If you noticed it keenly then you can find that China is making difficult for their people to buy Bitcoin but as government China is accumulating Bitcoins for very long time and I read in a reddit post that said they have around 200K Bitcoin in their treasury which is huge in numbers right?
So we don't really know what's happening behind the curtain so don't forget to accumulate for your better future.
It sounds like they want to take advantage offered by BItcoin, while also preventing their citizen to do same thing. It reminds of Russia's law which allow cryptocurrency usage only to prevent sanction.
Exactly, they want to take the advantage of Bitcoin's growth and being the future of monetary system while they don't want their citizens to have the same level of freedom when it comes to money spending so it's evident that China sees bitcoin as inevitable asset of future so there's no reason for individual to assume we shouldn't be holding any.
Its not illegal for the government to but or accumulate Bitcoin. If they could confiscate the BTC of mining farms before, they could do it still today especially if the farm is in the mainland.
I think if they would be cracking BTC owners in the mainland China, they could get more than millions of BTC. I'm sure there are lots of rich Chinese who have BTC trading crypto when crypro started.
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If you noticed it keenly then you can find that China is making difficult for their people to buy Bitcoin but as government China is accumulating Bitcoins for very long time and I read in a reddit post that said they have around 200K Bitcoin in their treasury which is huge in numbers right?
So we don't really know what's happening behind the curtain so don't forget to accumulate for your better future.
It sounds like they want to take advantage offered by BItcoin, while also preventing their citizen to do same thing. It reminds of Russia's law which allow cryptocurrency usage only to prevent sanction.
Exactly, they want to take the advantage of Bitcoin's growth and being the future of monetary system while they don't want their citizens to have the same level of freedom when it comes to money spending so it's evident that China sees bitcoin as inevitable asset of future so there's no reason for individual to assume we shouldn't be holding any.
Its not illegal for the government to but or accumulate Bitcoin. If they could confiscate the BTC of mining farms before, they could do it still today especially if the farm is in the mainland.
I think if they would be cracking BTC owners in the mainland China, they could get more than millions of BTC. I'm sure there are lots of rich Chinese who have BTC trading crypto when crypro started.
Government is what makes something legal or illegal so if they announce agriculture is illegal then it is not allowed for their citizen to do.
Let's compare what China is doing to have a better understanding, replace Bitcoin with Gold here, the Chinese government is accumulating as much as gold possible in their treasury but they made it illegal for their citizen to have any amount of gold. Is it allowed, yes legally a government can do that, but do you think it is ethical?
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We can't ask whether its ethical or not because if its good for the government to do make it ilegal then its a matter of keeping the country and government in one.
The finance of the government is more important because its going to keep the people united. According to history Mao Zedong united China by asking the people to share any metals they have in their household to industrialize the country.
US governemnt also did this in the past where they illegalize gold. They ask people with gold to sell these gold to the government for a fix price.
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We can't ask whether its ethical or not because if its good for the government to do make it ilegal then its a matter of keeping the country and government in one.
The finance of the government is more important because its going to keep the people united. According to history Mao Zedong united China by asking the people to share any metals they have in their household to industrialize the country.
US governemnt also did this in the past where they illegalize gold. They ask people with gold to sell these gold to the government for a fix price.
It's subjective, if you believe the government will only make decisions based on the interest of people's welfare then you would accept making gold or bitcoin as illegal.
But I know, government will not work at the best interest of people always and that's a proven history in all these history so we also need to act on our own to have financial independence. For that I see bitcoin as a tool in this 21st century so I am not going to believe the lies coming from government.
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Recently, China was up again on it's anti crypto stand by making new rules on the existing policy. When other nations are considering adding Bitcoin reserve, China is still busy tightening crypto trades oversight with forex rules. I have considered this as a laughable approach because, while world economy is on the verge of entering a new level of financial growth, China is still working contrary to economic reality.
How far can China go with all these rules? You know, A tree can not form forest.
check here: https://cointelegraph.com/news/china-banks-crypto-transaction-scrutiny
I don't know for sure but HK is the second nation of China and HK (Hong Kong) has opened it's arm wide to hug crypto. This Means China is indirectly in the game and with tight restrictions comes adoption which I have learned as well. Maybe they are on to something in China.
Their economy can grow from many other sources, as not adopting crypto in their China nation is not going to do them any harm they will do well otherwise too. But speaking of what bad crypto can do to them if all the world is adopting it, that's a question we should be exploring, and I think the typical answer we used to get 2 years ago that the fiat's demand will decrease, the economic stability will start to inflate, etc. etc.
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How long will China not be enticed to reenter the world and market of cryptocurrency again and maybe dominate the market once more? To answer that: maybe as long as they still don't see the need to be a big part of it. Right now, the government of China is not yet interested to reevaluate the possibility of letting cryptocurrency come to its corridor. But maybe by the time Russia will go all-out for it, China would have no choice but to say YES. The USA under Trump will be making headways for the industry let's hope that China can feel jealousy so it would change its anti-crypto stand. China is one big single market for cryptocurrency and can be considered our biggest whale if it would soon open its door but for now this is just our wish.
Or the trumpeter decides betting btc on shorts is smater and attacks btc bigly. Making btc drop a ton.
The trumpeter loves to blow his horn very loud but he has been off key and also has gone on wild ass solos more than once.
Be ready for a hell of a show it is comeing soon.
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Let's break a bit down this:
- China and the US might come to a full-blown digital war
- US is stockpiling Bitcoins
- China is the sole producer of ASIC machines....
- The US plans to buy 100 billion worth of Bitcoin for strategic reserves
- It would cost China at reseller price 10 billion to get 60% of the hashrate
Which one is more at risk in case of a full war? ;)
I understand your analysis and clearly the United States would be at greater risk in the case you present, but in that scenario there could be more actors, since China is part of the BRICS. But leaving that aside, my post was about the eternal lie that politicians tell citizens about what we should and should not do. For many years they have done everything possible to make us believe that Bitcoin was a bubble and a scam, and that is where my question comes from. How many years have all these governments been accumulating Bitcoin? We may never know.
In any case, I do not believe that the amounts that have been made public are real and are probably much higher.
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Let's break a bit down this:
- China and the US might come to a full-blown digital war
- US is stockpiling Bitcoins
- China is the sole producer of ASIC machines....
- The US plans to buy 100 billion worth of Bitcoin for strategic reserves
- It would cost China at reseller price 10 billion to get 60% of the hashrate
Which one is more at risk in case of a full war? ;)
I understand your analysis and clearly the United States would be at greater risk in the case you present, but in that scenario there could be more actors, since China is part of the BRICS. But leaving that aside, my post was about the eternal lie that politicians tell citizens about what we should and should not do. For many years they have done everything possible to make us believe that Bitcoin was a bubble and a scam, and that is where my question comes from. How many years have all these governments been accumulating Bitcoin? We may never know.
In any case, I do not believe that the amounts that have been made public are real and are probably much higher.
of course its not true. they may have more BTC and every big player in the world knows something is up when BTC was launched and got the attention of the people. they know someone is making this digital money known to the internet they are watching as it develops. they may even be asking who owns Satoshis 1M BTC and why do they have to make it anonymous while telling the word there is no such thing as anonymous.
but it my not matter who has more BTC while they are firing each other. what matters is who will win.
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Yes, this is really confusing, why is China is issuing more strict laws towards Bitcoin and cryptocurrencies at a time when countries are starting to open up and take strategic reserves of Bitcoin?
That should be because they do not care and they do not have any plans of making a BTC strategic reserve. China's position on crypto has always been kinda confusing, but it is obvious that they do not like crypto. People who feel that China will someday change their stance on BTC should forget about it.
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It is precisely a double standard for a country to keep kicking against a better knowledge, while they try to ignore the immense benefits of Bitcoin even when it is obvious that Bitcoin has the capacity as a store of value, and a hedge against inflation.
Experts has testified the biggest advantage of Bitcoin over Fiats, there are wide gaps between Bitcoin features and what fait can offer, I believe China knew all this, but they prefer to hinder her citizens and going behind to be accumulating Bitcoin. In my opinion, China is not just playing a double standard but this is just deceitful in my opinion.
So far I only think that the orders and regulations imposed by the Chinese government, can be said to be only to lead public opinion towards Bitcoin, while what the Chinese government is actually doing, we do not know for sure... it is common that words will be different from actions with a specific purpose in it...
China is considered successful in becoming a developed country and is able to compete with the US and countries in Europe.. as far as we can see Xi Jinping looks so tough on the regulations they make, severe punishments make their regulations quite strong in government... Chinese people are also known to obey existing rules, that's what makes China strong enough in driving the growth of the Bitcoin market,
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Funny how many of us thinks we can do better with a country's financial economy when we're not in the position to do so. You can laugh all you want about their policies but they should know what they are doing. Trump adding BTC to the US federal reserves or El Salvador doesn't mean they have advantage over other countries like China.
You think they care about the economeis of those countries?
No, they think only about the price and China buyign Bitcoin would increase that by a huge margin, that's all.
Salvador had for 3 consecutive years the lowest economic growth in Central America, how has crypto helped them as a nation? ;D
Bitcoin can actually help Elsalvado's growth economically. Now, lets understand "PER capita income" .
if Elsalvado's decides to engage it's Bitcoin returns into productions of goods and services, you may agree with me that it will add to the "Per Capita Income" of its citizens over times.
However, Elsalvado Bitcoin purchased years ago might have yields some returns but not yet sold, because the president plans to hold btc for a long term.
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Funny how many of us thinks we can do better with a country's financial economy when we're not in the position to do so. You can laugh all you want about their policies but they should know what they are doing. Trump adding BTC to the US federal reserves or El Salvador doesn't mean they have advantage over other countries like China.
You think they care about the economeis of those countries?
No, they think only about the price and China buyign Bitcoin would increase that by a huge margin, that's all.
Salvador had for 3 consecutive years the lowest economic growth in Central America, how has crypto helped them as a nation? ;D
Bitcoin can actually help Elsalvado's growth economically. Now, lets understand "PER capita income" .
if Elsalvado's decides to engage it's Bitcoin returns into productions of goods and services, you may agree with me that it will add to the "Per Capita Income" of its citizens over times.
However, Elsalvado Bitcoin purchased years ago might have yields some returns but not yet sold, because the president plans to hold btc for a long term.
We don't know yet what will happen in the future but we can see there are instability everywhere even in US so what can BTC do for a country like BTC in US as Bitcoin reserve for Trump? Maybe it's the only currency that no government or centralise system that could block a transaction.
There is yet no forseable event that will occur but because he started economic war, I think Bitcoin will play a role while they are trying to block trade routes.
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We don't know yet what will happen in the future but we can see there are instability everywhere even in US so what can BTC do for a country like BTC in US as Bitcoin reserve for Trump? Maybe it's the only currency that no government or centralise system that could block a transaction.
There is yet no forseable event that will occur but because he started economic war, I think Bitcoin will play a role while they are trying to block trade routes.
Bitcoin can do it all in that sense. As we know, transactions cannot be blocked, and that will be the cornerstone when the different economic disputes between countries begin to escalate. Precisely for this reason Trump announced a strategic reserve of Bitcoin that should theoretically begin to be managed very soon, and it is very likely that other countries are doing so without saying so publicly. Now there is a lack of countries that follow the United States and also want to have their own reserves. The game of governments and reserves has only just begun.
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I hope that people who believe that one day China will change their stance about BTC will forget about that, because i do not think that it will happen. China will not 'accept' BTC, though what this news is talking about is the same thing many countries are doing, which to put in one word is regulation, though some are stricter than the other.
Well, change is constant, and no condition is permanent. The future hold a lot for mankind, and i am sure that some decision can be adjusted no matter how strick China's stand on crypto may be, a new government regime in the future may see crypto in a different way.
Funny enough, the seized Bitcoin by the Chinese governments are for what purposes? Are they going to be a gift to charity or meant for sale in the future, or used for something? In my opinion, if China is truly doing away with everything about crypto, they should refound the seized Bitcoin to the owners, and then can permanently ban Bitcoin.
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Funny how many of us thinks we can do better with a country's financial economy when we're not in the position to do so. You can laugh all you want about their policies but they should know what they are doing. Trump adding BTC to the US federal reserves or El Salvador doesn't mean they have advantage over other countries like China.
You think they care about the economeis of those countries?
No, they think only about the price and China buyign Bitcoin would increase that by a huge margin, that's all.
Salvador had for 3 consecutive years the lowest economic growth in Central America, how has crypto helped them as a nation? ;D
Bitcoin can actually help Elsalvado's growth economically. Now, lets understand "PER capita income" .
if Elsalvado's decides to engage it's Bitcoin returns into productions of goods and services, you may agree with me that it will add to the "Per Capita Income" of its citizens over times.
However, Elsalvado Bitcoin purchased years ago might have yields some returns but not yet sold, because the president plans to hold btc for a long term.
No, we don't need to understand per capita income when the clear indicator is that economic growth is lagging.
The thing is that Bitcoin or not Bitcoin they had the lowest GDP growth of that whole region, meaning that them, one of the poorest of all are also performing worse than their neighbours.
Anyhow, Bukele has thrown the towel already and started begging on all fours like a dog to the IMF, his fans need a reality check.
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Personally, I have always wondered why a nation as huge, strong and popular as China will always be in the forefront when it comes to clamping down on Bitcoin and altcoins. Of course, Bitcoin has always been a threat to the central banks and this kind of news isn't new from China, hence why their policies are always against the technology, and it host of other affiliated solutions. In my personal opinion, the people in that part of the world are not deterred by these unfriendly policies because they are increasingly engaging in trading and investing in bitcoin and altcoins.
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I hope that people who believe that one day China will change their stance about BTC will forget about that, because i do not think that it will happen. China will not 'accept' BTC, though what this news is talking about is the same thing many countries are doing, which to put in one word is regulation, though some are stricter than the other.
Many of these Nations titening rules against Btc may just be doing it because other notable Nation are doing the same. For example, when some of these Nation heard of CBDC, many jumps onto it because they want to control their citizens transactions, unfortunately, as many of the people on these countries realize that CBDC is Centralized, and it meant to control their finances, they dumped CBDC. Unfortunately everything about CBDC has ceased because everyone wants financial freedom which Bitcoin has offered to it's community of users.
As a matter of facts, just like I said, everyone wants financial freedom, many these nations does not want this freedom to exist, hence there is always attempts to ban or strive for regulatoins at the detriment of users.
Moreover, my opinion remains that the Chinese stands on Bitcoin will definitely have some Loss end in the future.
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Personally, I have always wondered why a nation as huge, strong and popular as China will always be in the forefront when it comes to clamping down on Bitcoin and altcoins. Of course, Bitcoin has always been a threat to the central banks and this kind of news isn't new from China, hence why their policies are always against the technology, and it host of other affiliated solutions. In my personal opinion, the people in that part of the world are not deterred by these unfriendly policies because they are increasingly engaging in trading and investing in bitcoin and altcoins.
They hate things that they can't control. At least that's what I know when it comes to the CCP that's why they have this kind of stance.
The problem though is that, despite the ban of Bitcoin to be used in China, there are still mining farms that are running, and for me, this just shows that the stance of the CCP isn't enough for the people to stop from using or even mining Bitcoin. TBH, we don't care about China and its stance about crypto anymore. I mean if we are still in 2017 then yes it might have a huge impact, but investors now are more intelligent, and they don't care about them.
Let's just focus in making money and there will be a time in the future where the Chinese government will realize that their approach crypto is wrong, and they could've made more money by not letting it banned.
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They hate things that they can't control. At least that's what I know when it comes to the CCP that's why they have this kind of stance.
it is very obvious it is not just bitcoin that they do not like so many other things that is not created by them, not operated by them, or not controlled by them they ban in their country this is why for every single thing the rest of the world is using they have a counterpart of it in their country most likely they are just going to release their own coin if they are to get into cryptocurrency
TBH, we don't care about China and its stance about crypto anymore. I mean if we are still in 2017 then yes it might have a huge impact, but investors now are more intelligent, and they don't care about them.
you say this but i know that if china announces they are to buy bitcoin, the price of bitcoin is going to rise once again we do not need china to convince us to buy bitcoin however if they were to get into crypto it will further solidify bitcoin's place in the world and it would prove a lot of critics wrong
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Personally, I have always wondered why a nation as huge, strong and popular as China will always be in the forefront when it comes to clamping down on Bitcoin and altcoins. Of course, Bitcoin has always been a threat to the central banks and this kind of news isn't new from China, hence why their policies are always against the technology, and it host of other affiliated solutions. In my personal opinion, the people in that part of the world are not deterred by these unfriendly policies because they are increasingly engaging in trading and investing in bitcoin and altcoins.
The China government knows what they're pursuing and preventing with their policies against BTC and crypto at large. They still try ceasing some of these Bitcoins they term illegal and probably reserve them too when they term to stand against it.
But it is still observed that there are still some of the Chinese citizens that are still a lover of the Crypto world and also engage in crypto related activities.
I just hope with time, their eyes will open to embrace it rather than fighting it.
TBH, we don't care about China and its stance about crypto anymore. I mean if we are still in 2017 then yes it might have a huge impact, but investors now are more intelligent, and they don't care about them.
you say this but i know that if china announces they are to buy bitcoin, the price of bitcoin is going to rise once again we do not need china to convince us to buy bitcoin however if they were to get into crypto it will further solidify bitcoin's place in the world and it would prove a lot of critics wrong
You may be right here mate, the positive reaction of China to BTC will cause a price surge and also they'll also want to make something new in the Crypto industry in relationship to their economy just like the US.
Meanwhile, the negative policies of the China Government wouldn't shake anything anymore since it is no more something new to most crypto enthusiasts
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They hate things that they can't control. At least that's what I know when it comes to the CCP that's why they have this kind of stance.
The problem though is that, despite the ban of Bitcoin to be used in China, there are still mining farms that are running, and for me, this just shows that the stance of the CCP isn't enough for the people to stop from using or even mining Bitcoin. TBH, we don't care about China and its stance about crypto anymore. I mean if we are still in 2017 then yes it might have a huge impact, but investors now are more intelligent, and they don't care about them.
Let's just focus in making money and there will be a time in the future where the Chinese government will realize that their approach crypto is wrong, and they could've made more money by not letting it banned.
Any government of any country in the world hates, rejects or prohibits everything that they cannot control, in that sense there are no borders or difference of opinions. What the Chinese government did a few years ago with the ban on Bitcoin and cryptocurrencies in general was a hard blow for the market and also for many investors, but it is at that point that we must think. Does anyone really believe that Bitcoin has disappeared from China? The answer is no, in fact, it continues to be mined, and that brings us to the next question. Do these mining farms have permission from the Chinese government to mine?. Probably yes. So who stores the mined Bitcoins?...
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Does anyone really believe that Bitcoin has disappeared from China? The answer is no, in fact, it continues to be mined, and that brings us to the next question. Do these mining farms have permission from the Chinese government to mine?. Probably yes. So who stores the mined Bitcoins?...
China is complicated, it's not so easy to get and it's not that much conspiracy territory anyhow.
You're allowed in China to do a lot of things that are bad, like sewer oil, tofu construction, and almost slave labor, but you have to keep a low profile, and nobody will deal with you until it either comes to the attention fo the public or the government thinks it's a problem.
Mining was banned in China because it posed a problem for the Northern Mongolian grid, it was a shitton of coal power mining being done outside the monsoon season, so they saw a problem, saw that the government isn't earning a penny, and they went after the big guys with millions of kwh consumption. Nobody hunted the mining farms, they don't care about them but try to push the limits and you're going to get in trouble.
While this might work for mining, no, Bitcoin usage is dead, that's a red line nobody wants to cross.
Bitdeer and Bitmain moving to the US and increasing their capacity there is proof there is no turning back for China to allow huge mining projects anytime soon.
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China is complicated, it's not so easy to get and it's not that much conspiracy territory anyhow.
You're allowed in China to do a lot of things that are bad, like sewer oil, tofu construction, and almost slave labor, but you have to keep a low profile, and nobody will deal with you until it either comes to the attention fo the public or the government thinks it's a problem.
Mining was banned in China because it posed a problem for the Northern Mongolian grid, it was a shitton of coal power mining being done outside the monsoon season, so they saw a problem, saw that the government isn't earning a penny, and they went after the big guys with millions of kwh consumption. Nobody hunted the mining farms, they don't care about them but try to push the limits and you're going to get in trouble.
While this might work for mining, no, Bitcoin usage is dead, that's a red line nobody wants to cross.
Bitdeer and Bitmain moving to the US and increasing their capacity there is proof there is no turning back for China to allow huge mining projects anytime soon.
The magic words in this case are "anytime soon". It must be taken into account that everything that happened in China regarding Bitcoin could change in a very short time since Trump started talking about the strategic reserve of Bitcoin. Countries like Switzerland, Germany or Brazil (although there are actually more countries interested) took little time to put a plan on the table to create their own strategic reserve, and that is something that China could also be doing even if it is not talked about publicly. I don't think China is losing or out of the race, but I think they are smarter and more cautious.
There is much more information about the countries interested in this article: Nations States Turn To Bitcoin As A Strategic Reserve Asset (https://www.forbes.com/sites/digital-assets/2025/01/03/nations-states-turn-to-bitcoin-as-a-strategic-reserve-asset/).