Could the tariff war lead China's switch to Bitcoin?

[NotATether]

China will never embrace crypto and they would rather wait out the trade war by using their BRICS connections.

It will be really hard to beat China in a trade war, but Trump's administration thinks they can do it so we will see.

[Lucius]

Why are you guys looking for a way to connect China to BTC at every opportunity, they already made their feelings clear about BTC, and that is that. BTC does not really need approval from China, and China does not need BTC, let it stay that way, no need to bring up theories that don't count.

Are you sure about that?

Remember that JPMorgan had a negative stance about Bitcoin a few years ago. Now, they aren't supporting it, but their stance is completely different from what it is. The best example is Larry Fink of Blackrock where he said negative things about Bitcoin in the past as well same with Jamie Dimon, but now he already included Bitcoin in his company, Blackrock.
~snip~

You are comparing the incomparable - China is a state, and JPM and BR are private companies that exist to make a profit. We cannot simply expect China's attitude towards BTC to change while the same policy prevails there, which is obsessed with complete control of everyone and everything.

As I already wrote, China gains nothing from BTC (at the state level), and loses much more because it has no control over money flows due to the way BTC works.

[Bobcrypto]

I would love a situation where we can go deeper in to the economics of those whole tariff war besides some political aspects.

Yeah, I would love that too because my parents business is exporting stuff all over Europe and importing stuff from all over the world, including machinery from the US.
So, I love to go deeper into this thing because, frankly, you have no clue what you're talking about!
ZERO!!!

In addition, US dollar is the world international trade exchange currency, until now, there has not been an alternative means of settling international trade transactions basically because of exchange rate barriers plus other factors, but with Bitcoin, trades globally can be agreed and settled with Bitcoin payments even if these good are valued in US dollar at the point of purchase

Lol, you clearly don't understand how tariffs work.
I, as an european company can pay for a product to be delivered to a subsidiary in the US from China, I pay in euros, this doesn't affect the tariffs at all, my subsidiary in US will still be forced by the customs to pay the additional sum on the purchase.

Bitcoin doesn'tt solve anything, tarrifs are applied when the products enter the US on the value of the product, the IRS and the Customs don't give a damn how you paid, you could have paid in unicorn farts, if the value of the package is $1000 you will pay $1450 extra, if the value of the package is 1 Bitcoin, you will have to pay 1.45 Bitcoin equivalent at the day of the transactions!

There are miners here that have bought ASICs from Bitmain, paying with Bitcoin, do you think they magically avoided the tariffs Trump set in his first term?
Seriously, stop lecturing people who have years of experience in international trade and logistics about tariffs!

Importing personal effects is not the same when governments are buying from each others certain goods and services (especially raw materials) In economics, There are comparative advantages of productions and services of certain goods and services that may not be abtainabe among nations. Every nation has goods and services required amongst each other which they may not have adequate humans and materials resources to produce them. This is where the higher tarrif comes in particular between countries.
There are countries that has advantage over others in the production of certain goods, even raw materials for productions requires these tariffs.

Finished goods import tarrif is different from raw materials for productions. For example, Russia has to increase the cost of gas supply to Europe because of her advantage over the rest of Europe and this resulted on a High gas tarrif from  Russia.

Well, I will cease here, and wait for more posts from those who has deeper economic knowledge on these issues and not necessarily from computer experts for a further knowledge sharing.

[electronicash]

rumor was that there are BTC mining farms that are backed by Chinese government, if they are seriously going to accumulate BTC because all other countries are going to be using BTC, China will be mining them all and cancel exporting ASIC devices to other countries.

or maybe ask more than 145% tariff from ASIC miners.  they have already considered stopping the importation of rare earth materials to US as far as i know.

[Rubel007]

Many people may think otherwise, but as the tariff war is currently blowing hard on all the country involved, it must have lead to Chinese business switching to Bitcoin as many crypto analysis are showing. Considering that the effect of the tariff war is getting hold on the Yuan, even as Chinese business are diverting their yaun into bitcoin many crypto analyst reported.
I had once written a post some weeks ago on the Chinese government continuous stand on crypto, and i stated that, "China may have a loose end on it crypto stand in near future".
Now based on the current Tarrif war, do you think that China will reconsider it initial crypto stand, that is, the crypto banned?

Check here: https://cointelegraph.com/news/china-counters-tariffs-yuan-devaluation-bullish-btc

It may be very interesting for the Bitcoin community if the Chinese governments is turning to Bitcoin, probably to save the Yuan.

It is difficult to predict what China's stance is. They must have deep concerns about what they will do. Recently, Trump suspended tariffs on other countries' products, but they did not do so on China, but they increased them several times. I think a kind of war has started. However, China will never want to accept a currency like Bitcoin as a tool. Because the United States holds the Bitcoin reserves and other large holders are based in that country. This can be one reason not to hold bitcoin I think they are leaning towards gold, although Bitcoin would have been a good option for them, but they are probably moving towards gold without giving importance to that aspect. That is why we see that the price of gold has increased significantly. Bitcoin is a decentralized currency, so if they invest in this platform, they are sure to be profitable.

[TheGoodFella]

Don't know hiw realistic this is, but I'd really like to see something like this happen, an institution like China officially adopting BTC, would have a huge effect on crypto's ecosytem. Fingers crossed though.

[Lucius]

Don't know hiw realistic this is, but I'd really like to see something like this happen, an institution like China officially adopting BTC, would have a huge effect on crypto's ecosytem. Fingers crossed though.

China is a country, not an institution. I don't know why some of you live in the belief that Bitcoin changes anything in the context of the economy of such a large country that has a GDP of slightly less than $19 trillion - and all the BTC that has been mined so far is worth $1.7 trillion. Even if China miraculously has 50% of all BTC in its possession, what would that mean for them?

[Stompix]

Importing personal effects is not the same when governments are buying from each others certain goods and services (especially raw materials) In economics,

Loooooooooool, no wait...lOOOOOOOOOOL

Do you actually believe that governments buy stuff from each other?
Do you think the Bundeskabinett is buying gas from Правительство России and not that private companies from Germany buy gas from Gazprom?
You actually think, lol, this is insane, trade is done between the governments?

There are countries that has advantage over others in the production of certain goods, even raw materials for productions requires these tariffs.

My god, really?
https://trade.ec.europa.eu/access-to-markets/en/content/tariffs-0

Well, I will cease here, and wait for more posts from those who has deeper economic knowledge on these issues and not necessarily from computer experts for a further knowledge sharing.

When you say computer experts, you mean one that has no idea what he is talking about like you are doing here right now, isn't that?
So, leaving aside the fact that you have proven that you haven't studied economics one hour in your whole life, again, the question:

How would Bitcoin adoption dodge tariffs?

[Agbe]

China will never embrace crypto and they would rather wait out the trade war by using their BRICS connections.

It will be really hard to beat China in a trade war, but Trump's administration thinks they can do it so we will see.

Plus one for you. From the war the Tariff War is going it has become a economic war of who to dominate a particular territory. And China will not easily give up this fight because they have secretly taken over many countries that America government was controlling. But my prayer is that that should not lead to World War Three. This is really worrisome. The war that is going on the international level is worrisome right now.

[Kemarit]

China will never embrace crypto and they would rather wait out the trade war by using their BRICS connections.

It will be really hard to beat China in a trade war, but Trump's administration thinks they can do it so we will see.

Plus one for you. From the war the Tariff War is going it has become a economic war of who to dominate a particular territory. And China will not easily give up this fight because they have secretly taken over many countries that America government was controlling. But my prayer is that that should not lead to World War Three. This is really worrisome. The war that is going on the international level is worrisome right now.

Just like what they did on Vietnam,

China's President Xi Jinping has called on Vietnam to oppose "unilateral bullying" to upkeep a global system of free trade - though he stopped short of naming the US.

It comes as Xi is on a so called "charm offensive" trip across South East Asia, which will also see him visit Malaysia and Cambodia.

Though the trip was long-planned, it has taken on heightened significance in the wake of a mounting trade war between the US and China. Vietnam was facing US tariffs of up to 46% before the Trump administration issued a 90-day pause last week.

US President Donald Trump called Xi's meeting with Vietnamese leaders a ploy to figure out how to "screw the United States of America".

https://www.bbc.com/news/articles/cdrgk2338dvo

So for this one, I think the Chinese has ou tmanuevered US already.

But for the case of Bitcoin, I also doubt that Chinese will embrace it since they have been against it since early 2018. So they will have to find or look for their allies like Russia to counter this huge tariff that Trump is imposing on them.

[Blaze]

China will never embrace crypto and they would rather wait out the trade war by using their BRICS connections.

It will be really hard to beat China in a trade war, but Trump's administration thinks they can do it so we will see.

Plus one for you. From the war the Tariff War is going it has become a economic war of who to dominate a particular territory. And China will not easily give up this fight because they have secretly taken over many countries that America government was controlling. But my prayer is that that should not lead to World War Three. This is really worrisome. The war that is going on the international level is worrisome right now.

I can understand that especially with the rising tensions between the superpowers. But still, behind all the tactics of this economic and political jostle of three sisters I remain with the opinion that the interest of connectivity is stronger. Supply chains, investments, and joint deals with the major powers have become interconnected, it is not possible to endanger them thoughtlessly. There is rivalry, thereby power but not every bid for power comes with a war or shooting in the dark. I also agree with the view that this is something that needs to be looked at by the different parties and act as the turning point on how they compete. Pursuing the logic of reasonable voices and free will, the world cannot be heading for the major collapse.

[bayu7adi]

It may be very interesting for the Bitcoin community if the Chinese governments is turning to Bitcoin, probably to save the Yuan.

the country is full of high self-confidence.. even when their Yuan weakened due to the impact of Trump's excessive tariffs specifically for goods originating from China, I never thought Bitcoin was the only solution for them... I don't know, why Bitcoin? I always think about their self-confidence that can always overcome the problems of the Chinese government... this country is a developed country and can even compete with the US...

This tariff war may weaken the Yuan, but I still doubt whether there is a strong reason for China to immediately change their previous stance on Bitcoin... there is really no view for that... so I don't think China will adopt Bitcoin anytime soon...

[Stompix]

https://www.bbc.com/news/articles/cdrgk2338dvo
So for this one, I think the Chinese has ou tmanuevered US already.

Vietnam hates China more than the US.
At least with the US they had a war about leadership, not about territories, with China, the threat of invasion has been there for a thousand years.

Vietnam is not happy with their dependency on China is not happy with dependcy on US, without China they are screwed without the US they are screwed, they are basically repacking and reselling a ton of stuff, their exports are almost the same as their GDP, either way they are in a bad situation.