will north korea accept bitcoin?

[bitterguy28]

Not only North Korea for example China is actively buying as much as bitcoin as they can

i have never heard of china's government buying bitcoin themselves yes they own bitcoins but all of it are seized ones from arrests they have made before

but they discourage any crypto related activities including trading in their mainland.

china is actually quite confusing because they say that personal ownership of crypto is legal but any other activity is illegal it seems like they just really do not want crypto to spread and for their citizens to start crypto projects themselves

the clarification of this rule is stated here

[target]

Not only North Korea for example China is actively buying as much as bitcoin as they can

i have never heard of china's government buying bitcoin themselves yes they own bitcoins but all of it are seized ones from arrests they have made before

but they discourage any crypto related activities including trading in their mainland.

china is actually quite confusing because they say that personal ownership of crypto is legal but any other activity is illegal it seems like they just really do not want crypto to spread and for their citizens to start crypto projects themselves

the clarification of this rule is stated here

They have been confusing because of two systems, one country policy they have. But they see it very effective to protect their governemnt from being compromised. They still have two parties in the country the one we always hear like the communist party (CPC) but they also have the People's Republic of China (PRC). Funny because both acts like communist party.

But they are building areas where people are free to do things outside their mainland rules. Hong Kong which is like the Dubai which we consider open city. Cryptocurrency is allowed in these places.

[Sim_card]

so much of our discussions here revolve around different countries fully accepting bitcoin or different countries not accepting bitcoin and being strict with their citizens when it comes to crypto a lot of us can't understand why they won't integrate crypto into their economy when it has been proven that it does give off major benefits

i realized that a lot of us probably do not take into consideration the cultural and political aspects of a country which i believe are major factors when it comes to a country deciding whether they should accept bitcoin or not

for example no one expects north korea to adopt bitcoin north korea is a communist state under a dictatorship it would be crazy if they accepted bitcoin which will give people the financial freedom they probably crave so with this in mind we can already tell which ones are most likely to adopt bitcoin and which ones would not

usa calls themselves the land of the free which coincides with accepting bitcoin that is decentralized and does give freedom to people

I am confused with what thw president of China wants for his people towards crypto. We know that China has banned and uplift the ban of cryptocurrency several times, and that makes me feel that their is a personal interest issue about cryptocurrency by China government. They don't want their citizens to trade and do business with crypto so that the government can see into every transaction that is made in the country.

[Findingnemo]

They don't want their citizens to trade and do business with crypto so that the government can see into every transaction that is made in the country.

It is because of their communist ruling system which prioritize the financial stability of their economy over the other things so they are always determined to run things in the controlled environment but bitcoin is decentralized so completely uncontrollable which is completely against their beliefs which is why they don't want their people to have bitcoin.

It's not just bitcoin they don't want google, facebook, TikTok and almost everything.

[Stompix]

I am confused with what thw president of China wants for his people towards crypto. We know that China has banned and uplift the ban of cryptocurrency several times,

China has never lifted any ban on Bitcoin mining or trading, things happening unpunished is a different thing than allowing.
All these happened only on Twitter where speculators were desperate for good news, China changes its policies on a whim, it's perceived as a weakness and the CCP will never do it, you have seen that with Covid and you can see it with the real estate market, it took a decade for them to reverse the one-child policy when it was proven to be a disaster do you think they will do so with crypto which has minimal impact?