China may have a loss end in it's anti crypto stand.

[bitterguy28]

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

[Bobcrypto]

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.

[yhiaali3]

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.

[ABCbits]

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.

[Findingnemo]

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.

[target]

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.

[Findingnemo]

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?

[target]

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.

[Findingnemo]

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.

[Faisal2202]

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.

[philipma1957]

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.

[Freemind]

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.

[electronicash]

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.

[Z-tight]

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.

[bayu7adi]

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,