If China soon welcomes crypto: strong bullrun?

[pieppiep]

Although China has banned crypto, they will not miss the opportunity to profit from crypto,

Everyone keeps saying this..
Why can't people give one single example on how a major country has benefited from crypto?
Let's not talk about Salvador cause if a Salvadorian would have won the powerball it would have made them more in taxes than all their current bitcoin holdings, a major country that has benefited and how much from crypto!

How would China benefit from it, where is this money going to come from because it's pretty obvious it has to come from the other countries that buy the crypto from them to make a profit, don't you see something a country won't do in this case?

We should not care about what the Chinese government is doing because there are still many bear countries that have allowed bitcoin to exist in their countries and be used as an investment tool by their citizens. El Salvador is an example of a country that has accepted bitcoin as a payment method, so far it has been fine, Honestly I don't know how much tax is imposed there. but I appreciate El Salvador as a pioneer in accepting bitcoin as a payment method in their country.

This shows that more people are embracing bitcoins as a financial instrument of investment the same as having a community value. I have a positive outlook watching the number of countries that are now opening a space to allow for the growth ofendent crypto.

Thus, when it comes to inspiration El Salvador served as the first country to recognise bitcoin as a legal tender. This move creates space through which other countries could emulate them and make the use of blockchain technology. This way, we as investors and bitcoin users can be more sure myself and use crypto knowing that this innovation has been adopted and implemented in the real-economy.

[MrSpasybo]

We should not care about what the Chinese government is doing because there are still many bear countries that have allowed bitcoin to exist in their countries and be used as an investment tool by their citizens. El Salvador is an example of a country that has accepted bitcoin as a payment method, so far it has been fine, Honestly I don't know how much tax is imposed there. but I appreciate El Salvador as a pioneer in accepting bitcoin as a payment method in their country.

I am interested in China stance on crypto because it is the second largest economy globally and it has been taking many actions that hint at a possible acceptance of crypto despite constantly accusing it of being risky and unsuitable for the Chinese market. I also understand that currently all eyes are on Trump specific actions after taking office next January, as the US still holds significant global influence.

El Salvador is a pioneering country in widely adopting BTC and they have gained specific benefits in investment and tourism. I believe China is aware of this and they want to achieve those benefits, the only thing stopping them from moving towards crypto is extreme doubt and caution, as they believe crypto could harm their absolute power.

[densus88]

We should not care about what the Chinese government is doing because there are still many bear countries that have allowed bitcoin to exist in their countries and be used as an investment tool by their citizens. El Salvador is an example of a country that has accepted bitcoin as a payment method, so far it has been fine, Honestly I don't know how much tax is imposed there. but I appreciate El Salvador as a pioneer in accepting bitcoin as a payment method in their country.

I am interested in China stance on crypto because it is the second largest economy globally and it has been taking many actions that hint at a possible acceptance of crypto despite constantly accusing it of being risky and unsuitable for the Chinese market. I also understand that currently all eyes are on Trump specific actions after taking office next January, as the US still holds significant global influence.

El Salvador is a pioneering country in widely adopting BTC and they have gained specific benefits in investment and tourism. I believe China is aware of this and they want to achieve those benefits, the only thing stopping them from moving towards crypto is extreme doubt and caution, as they believe crypto could harm their absolute power.

I am also still curious about the Chinese government why it has not legalized crypto there. Even though as one of the countries with the largest economy, the Chinese government should have considerations like other large countries.
Trump has had a big influence with his victory, making the price of bitcoin reach ATH at $ 93,434 according to CMC. We will see what Trump will do in his administration next year to the crypto world.

[MrSpasybo]

I am also still curious about the Chinese government why it has not legalized crypto there. Even though as one of the countries with the largest economy, the Chinese government should have considerations like other large countries.
Trump has had a big influence with his victory, making the price of bitcoin reach ATH at $ 93,434 according to CMC. We will see what Trump will do in his administration next year to the crypto world.

Yeah, we will wait for China reaction next year. Right after Trump won the election, China printed money to support the economy because they knew something serious was coming and threatening their economy, possibly a trade war. The same thing will happen with the BTC strategy: I don't believe China will sit idly by and watch the US accumulate BTC.

If the Chinese government wants to openly accumulate BTC on the market, they will have to accept BTC and crypto, then Chinese investors will be able to access and trade crypto as before. In the case where China only focuses on accumulating BTC through mining farms, they will also have to pass a law recognizing the role of BTC in the economy and making it worth accumulating for the national budget. In either case, BTC and crypto will receive a very positive impact!

[rizqillah]

Yeah, we will wait for China reaction next year. Right after Trump won the election, China printed money to support the economy because they knew something serious was coming and threatening their economy, possibly a trade war. The same thing will happen with the BTC strategy: I don't believe China will sit idly by and watch the US accumulate BTC.

If the Chinese government wants to openly accumulate BTC on the market, they will have to accept BTC and crypto, then Chinese investors will be able to access and trade crypto as before. In the case where China only focuses on accumulating BTC through mining farms, they will also have to pass a law recognizing the role of BTC in the economy and making it worth accumulating for the national budget. In either case, BTC and crypto will receive a very positive impact!

It seems like a country as big as China would have good considerations for Bitcoin and crypto. Because it is impossible for China to be left behind by its competitors because big countries have started to be active and allow crypto in their countries. But until today we have not seen the Chinese government support Bitcoin.

[lombok]

It seems like a country as big as China would have good considerations for Bitcoin and crypto. Because it is impossible for China to be left behind by its competitors because big countries have started to be active and allow crypto in their countries. But until today we have not seen the Chinese government support Bitcoin.

China naturally as one of the world’s economic power has its own plan to deal with the progress of crypto technology. While it may appear to some that the Chinese government has not embraced Bitcoin fully there is evidence they continually watch and assess the opportunities and threats. It is always important to bear in mind that these policies are developed in each country with intention to achieve economic stability, customers’ protection as well as to have control over new technologies.

However, if crypto is beneficial for their economic agenda, then China still has a free chance to be more assertive. More specifically for those of us concerned with these initiatives in the field it remains pertinent to follow the policies that are released as well as how actions of other nations in the adoption of cryptocurrencies can shape international decision making. This attitude we will be better prepared to address changes that may happen in future or arise out of new circumstances.

[MrSpasybo]

China naturally as one of the world’s economic power has its own plan to deal with the progress of crypto technology. While it may appear to some that the Chinese government has not embraced Bitcoin fully there is evidence they continually watch and assess the opportunities and threats. It is always important to bear in mind that these policies are developed in each country with intention to achieve economic stability, customers’ protection as well as to have control over new technologies.

However, if crypto is beneficial for their economic agenda, then China still has a free chance to be more assertive. More specifically for those of us concerned with these initiatives in the field it remains pertinent to follow the policies that are released as well as how actions of other nations in the adoption of cryptocurrencies can shape international decision making. This attitude we will be better prepared to address changes that may happen in future or arise out of new circumstances.

Yeah, China has too large of an economy to risk with crypto, especially considering their social management style. They want a managed economy rather than a freely developing one, they don't want crypto to be allowed to exist outside of government direction.

However, China is also undergoing many internal changes: Hongkong is adopting crypto very actively, Chinese officials are allowed to share their views on crypto and speculate on China possibly having to accept crypto after the US becomes more crypto-friendly during Trump term. I will wait for the moment when China officially announces that its people are allowed to invest in crypto comfortably through mining and trading.