If China soon welcomes crypto: strong bullrun?

[bounceback]

Let's not give ourselves a false hope because China are not going to adopt bitcoin or any cryptocurrency for any reason, they have their own cbdc and are doing all it takes to avoid any other currency taking over their own native currency, you could see from the way they have been taking their regulations so serious, bitcoin should not be what we are going to see become a mainstream in China for now except they have a change in government.

Seems difficult for China accepted bitcoin become legal payment transaction in the future, actually they have large community in their country and bring most positive impact if welcome with bitcoin and altcoin.
I memorize well when first time investing in bitcoin China become most welcome country for cryptocurrency transaction and their people have many mining project build up, but don't know why suddenly China suspended all transaction about cryptocurrency and until right now their viewed still bad about bitcoin adopting as payment legal currency transaction.

[enoch_from_off]

Let's not give ourselves a false hope because China are not going to adopt bitcoin or any cryptocurrency for any reason, they have their own cbdc and are doing all it takes to avoid any other currency taking over their own native currency, you could see from the way they have been taking their regulations so serious, bitcoin should not be what we are going to see become a mainstream in China for now except they have a change in government.

Seems difficult for China accepted bitcoin become legal payment transaction in the future, actually they have large community in their country and bring most positive impact if welcome with bitcoin and altcoin.
I memorize well when first time investing in bitcoin China become most welcome country for cryptocurrency transaction and their people have many mining project build up, but don't know why suddenly China suspended all transaction about cryptocurrency and until right now their viewed still bad about bitcoin adopting as payment legal currency transaction.

I do think it's because their gov centralizes everything they touch, but I would like to hear other opinions too.

[Dr.Bitcoin_Strange]

Actually we don't need to think too much about the Chinese government, because we don't know what they think and don't or what they do, China could be preparing its own crypto project that we don't know about. We should always focus on our investment in crypto and seek profit from the funds we invest. Because bitcoin is banned there and the reality is that bitcoin still survives, getting more expensive and more popular today.

I doubt if they actually have any intention to create their own crypto project but if they do, they might not have lot of citizens investing into the coins unless they will have to force citizens to invest in the coin or they make it a legal tender. If they can not allow Bitcoin, then any other coin or token they intend to build will not thrive because most people draw the motivation of investing in crypto from Bitcoin.

Are you sure they won't be able to hold it?
Imagine it, a coin held and associated with China itself, I don't think that nobody would invest in it besides the China citizens themselves.
Though, of course, it wouldn't surpass Bitcoin in terms of stability, there I would agree with you.

Well it depends on the token’s performance in the long run, if token gains popularity amongst the Chinese, I believe other countries or people from other places might also indicate interest to invest in the project. I mean it’ll certainly be a huge project you know, because I believe that’ll be very first crypto project that China would be developing and they’ll certainly give it their best and this may be the main reason why people would indicate interest to join the project.

[MrSpasybo]

Seems difficult for China accepted bitcoin become legal payment transaction in the future, actually they have large community in their country and bring most positive impact if welcome with bitcoin and altcoin.
I memorize well when first time investing in bitcoin China become most welcome country for cryptocurrency transaction and their people have many mining project build up, but don't know why suddenly China suspended all transaction about cryptocurrency and until right now their viewed still bad about bitcoin adopting as payment legal currency transaction.

When I joined the crypto market during the bullrun 2017, Chinese investors and developers were a vibrant and significant part of this market. Unfortunately, the ICO boom came with many risks, leading China to ban ICOs and crypto within its borders.

Fast forward to the bullrun 2021, we witnessed China extreme stance on the energy consumption of their BTC miners, resulting in a ban on BTC mining and the displacement of mining companies to other countries. As far as I know, crypto is now considered an asset in China but cannot be used for payments as it might threaten their fiat CNY value.

[nakmantu99]

Actually we don't need to think too much about the Chinese government, because we don't know what they think and don't or what they do, China could be preparing its own crypto project that we don't know about. We should always focus on our investment in crypto and seek profit from the funds we invest. Because bitcoin is banned there and the reality is that bitcoin still survives, getting more expensive and more popular today.

I doubt if they actually have any intention to create their own crypto project but if they do, they might not have lot of citizens investing into the coins unless they will have to force citizens to invest in the coin or they make it a legal tender. If they can not allow Bitcoin, then any other coin or token they intend to build will not thrive because most people draw the motivation of investing in crypto from Bitcoin.

Are you sure they won't be able to hold it?
Imagine it, a coin held and associated with China itself, I don't think that nobody would invest in it besides the China citizens themselves.
Though, of course, it wouldn't surpass Bitcoin in terms of stability, there I would agree with you.

Well it depends on the token’s performance in the long run, if token gains popularity amongst the Chinese, I believe other countries or people from other places might also indicate interest to invest in the project. I mean it’ll certainly be a huge project you know, because I believe that’ll be very first crypto project that China would be developing and they’ll certainly give it their best and this may be the main reason why people would indicate interest to join the project.

If China has a coin developed there, of course it will be a popular coin if many people know about it. But I haven't heard of any good coins there at this time. China is a big country, but its government has not given support and allowed crypto there. And many people also don't know the reason why even though many countries have started to give permission to crypto.

[dekafee79]

Seems difficult for China accepted bitcoin become legal payment transaction in the future, actually they have large community in their country and bring most positive impact if welcome with bitcoin and altcoin.
I memorize well when first time investing in bitcoin China become most welcome country for cryptocurrency transaction and their people have many mining project build up, but don't know why suddenly China suspended all transaction about cryptocurrency and until right now their viewed still bad about bitcoin adopting as payment legal currency transaction.

When I joined the crypto market during the bullrun 2017, Chinese investors and developers were a vibrant and significant part of this market. Unfortunately, the ICO boom came with many risks, leading China to ban ICOs and crypto within its borders.

Fast forward to the bullrun 2021, we witnessed China extreme stance on the energy consumption of their BTC miners, resulting in a ban on BTC mining and the displacement of mining companies to other countries. As far as I know, crypto is now considered an asset in China but cannot be used for payments as it might threaten their fiat CNY value.

Many people do not know the reason why China prohibits mining and crypto in their country even though crypto is a technological advancement that every developed country should participate in. Whatever the reason for the Chinese government's ban, I don't fully understand it. Maybe they have different thoughts and policies than other developed countries.

[pieppiep]

Seems difficult for China accepted bitcoin become legal payment transaction in the future, actually they have large community in their country and bring most positive impact if welcome with bitcoin and altcoin.
I memorize well when first time investing in bitcoin China become most welcome country for cryptocurrency transaction and their people have many mining project build up, but don't know why suddenly China suspended all transaction about cryptocurrency and until right now their viewed still bad about bitcoin adopting as payment legal currency transaction.

When I joined the crypto market during the bullrun 2017, Chinese investors and developers were a vibrant and significant part of this market. Unfortunately, the ICO boom came with many risks, leading China to ban ICOs and crypto within its borders.

Fast forward to the bullrun 2021, we witnessed China extreme stance on the energy consumption of their BTC miners, resulting in a ban on BTC mining and the displacement of mining companies to other countries. As far as I know, crypto is now considered an asset in China but cannot be used for payments as it might threaten their fiat CNY value.

Many people do not know the reason why China prohibits mining and crypto in their country even though crypto is a technological advancement that every developed country should participate in. Whatever the reason for the Chinese government's ban, I don't fully understand it. Maybe they have different thoughts and policies than other developed countries.

However, due to the ban, some people begin to doubt values They should because the Chinese authorities act to safeguard their economy and financial sector. This is due to the fact that by creating the e-CNY, the People’s Republic of China is trying to strengthen its hold on their financial sector and counteract the dangers that uncontrolled cryptocurrencies pose.

It may also be unique compared to other countries, yet it prove that china has a different policy of developing new technologies in its financial system. Consequently, every country has to set a right balance between stimulation of innovations and sustaining of economic stability regarding its peculiar conditions.

[royalRitta]

Seems difficult for China accepted bitcoin become legal payment transaction in the future, actually they have large community in their country and bring most positive impact if welcome with bitcoin and altcoin.
I memorize well when first time investing in bitcoin China become most welcome country for cryptocurrency transaction and their people have many mining project build up, but don't know why suddenly China suspended all transaction about cryptocurrency and until right now their viewed still bad about bitcoin adopting as payment legal currency transaction.

When I joined the crypto market during the bullrun 2017, Chinese investors and developers were a vibrant and significant part of this market. Unfortunately, the ICO boom came with many risks, leading China to ban ICOs and crypto within its borders.

Fast forward to the bullrun 2021, we witnessed China extreme stance on the energy consumption of their BTC miners, resulting in a ban on BTC mining and the displacement of mining companies to other countries. As far as I know, crypto is now considered an asset in China but cannot be used for payments as it might threaten their fiat CNY value.

Many people do not know the reason why China prohibits mining and crypto in their country even though crypto is a technological advancement that every developed country should participate in. Whatever the reason for the Chinese government's ban, I don't fully understand it. Maybe they have different thoughts and policies than other developed countries.

However, due to the ban, some people begin to doubt values They should because the Chinese authorities act to safeguard their economy and financial sector. This is due to the fact that by creating the e-CNY, the People’s Republic of China is trying to strengthen its hold on their financial sector and counteract the dangers that uncontrolled cryptocurrencies pose.

It may also be unique compared to other countries, yet it prove that china has a different policy of developing new technologies in its financial system. Consequently, every country has to set a right balance between stimulation of innovations and sustaining of economic stability regarding its peculiar conditions.

Simply put, China wants to have everything regulated.
If it's not - it's a liability for them, in my opinion.
That's the main reason for it.

[Aanuoluwatofunmi]

We should wake and stop dreaming on China to have bitcoin adoption, this is more likely impossible to achieve, we should by know know them for what they are and how desperate they could be on their law enforcements, why they are doing all these was because they want their own country economy to be the top lead of the world economy and if any other entity or country took over from them, their growth may be retarded, that is why they have always been taking it uneasy on cryptocurrencies in their country.

[luckyledger]

We should wake and stop dreaming on China to have bitcoin adoption, this is more likely impossible to achieve, we should by know know them for what they are and how desperate they could be on their law enforcements, why they are doing all these was because they want their own country economy to be the top lead of the world economy and if any other entity or country took over from them, their growth may be retarded, that is why they have always been taking it uneasy on cryptocurrencies in their country.

I agree with you, they want everything controlled, and that's why crypto is such a wild concept for them to accept.
If they can't control it, why allow it? I think that's their logic for it and everything similar to it in concept and idea.

[dekafee79]

We should wake and stop dreaming on China to have bitcoin adoption, this is more likely impossible to achieve, we should by know know them for what they are and how desperate they could be on their law enforcements, why they are doing all these was because they want their own country economy to be the top lead of the world economy and if any other entity or country took over from them, their growth may be retarded, that is why they have always been taking it uneasy on cryptocurrencies in their country.

The Chinese government does seem uncomfortable with crypto, it is possible that they have a crypto currency that they are preparing. That is just my prediction because it is impossible for a big country like China not to understand crypto technology. But we should not expect too much from this, we focus on the market and forget about the countries that strictly prohibit crypto there.

[pieppiep]

We should wake and stop dreaming on China to have bitcoin adoption, this is more likely impossible to achieve, we should by know know them for what they are and how desperate they could be on their law enforcements, why they are doing all these was because they want their own country economy to be the top lead of the world economy and if any other entity or country took over from them, their growth may be retarded, that is why they have always been taking it uneasy on cryptocurrencies in their country.

The Chinese government does seem uncomfortable with crypto, it is possible that they have a crypto currency that they are preparing. That is just my prediction because it is impossible for a big country like China not to understand crypto technology. But we should not expect too much from this, we focus on the market and forget about the countries that strictly prohibit crypto there.

It could be, while China it is very much involved in the cracking down on the crypto industry it is equally involved in the creation of their own CBDC, the digital yuan. But from this we can see that they know much about the capabilities of the crypto technology but they don’t want anyone to interfere with the operations of the financial sector. Therefore, that’s where the expanded focus on the global market and the potential in other nations that are even more favorable toward cryptocurrencies. Moreover, as its application grows, the cryptocurrency will level itself up to become relevant no matter the laws in some states.

[MrSpasybo]

The Chinese government does seem uncomfortable with crypto, it is possible that they have a crypto currency that they are preparing. That is just my prediction because it is impossible for a big country like China not to understand crypto technology. But we should not expect too much from this, we focus on the market and forget about the countries that strictly prohibit crypto there.

I'm also bullish on China re-entry into the crypto market. They're aggressively exploring the potential of blockchain technology. We all know that blockchain can't exist without crypto, so if China adopts public blockchains, they'll inevitably have to accept crypto as well.

China is quick to jump on major market trends: semiconductors, space technology, nuclear reactors. Crypto is an even bigger trend as it will impact both economics and politics, so China won't want to be left behind. I believe they're quietly preparing a plan to dominate this market in the future, and Hongkong adoption of crypto is a signal of this.

[target]

^
They been educating their students about every technology. The Chinese been the reason for the middle east desert to turn green already. Sooner they can have large farm along their Silkroad.

Its said China is printing like brrr so their government is giving large sum for their investors. If they are getting back to crypto , it will definitely tank the in bull season.

[MainIbem]

The Chinese government does seem uncomfortable with crypto, it is possible that they have a crypto currency that they are preparing. That is just my prediction because it is impossible for a big country like China not to understand crypto technology. But we should not expect too much from this, we focus on the market and forget about the countries that strictly prohibit crypto there.

It could be, while China it is very much involved in the cracking down on the crypto industry it is equally involved in the creation of their own CBDC, the digital yuan. But from this we can see that they know much about the capabilities of the crypto technology but they don’t want anyone to interfere with the operations of the financial sector. Therefore, that’s where the expanded focus on the global market and the potential in other nations that are even more favorable toward cryptocurrencies. Moreover, as its application grows, the cryptocurrency will level itself up to become relevant no matter the laws in some states.

Their government is already aware of the capabilities of Cryptocurrency buy I think they're just worried about their citizens using it for money laundry or being victims or involved in Cryptocurrency scams it's not as if they're not aware of it's potential moreover one of the biggest exchange is owned by a Chinese so it means thst most of their Citizens are very knowledgeable about it and can't wait to jump into the market when their government finally bounce back into it. China as one of the biggest economy in the middle could be one of the driving force for Bitcoin getting above the 100k mark sooner and if they get into Cryptocurrency before the 1st quarter of next year then the possibility of that happening faster could be very imminent.