Is China really putting everything into Bitcoin?
How will they get the money back?
Do you think China are chasing Tulips?
Is it just the cheap electricity that's pushing Bitcoin?
How do the Chinese Government see Bitcoin?
Answers on a postcard please!
G
1. Nope, not the whole government of China but a few dedicated groups of miners that are in the business just to profit.
2. They get the money back because, well, electricity is damn cheap. Also, bitcoin trading in China is so active.
3. Tulips? Not so sure about that.
4. Nope, Chinese are known to be businessmen. They see potential profits on bitcoin, that's why they are pushing it and no, not the electricity pushes them to do this.
5. The Chinese government seemed to be quite unsure of their stance in bitcoin. Remember, they banned bitcoin way back 2014?
Totally agree, it seems already answered.
I think China government not really thinking about bitcoin, they more concerned to support the advancement of their citizens business to raise income per capita which cause the country would be more advance (wealth of their country), that's why they allowed bitcoin though ever banned it. You should explain what chasing tulips mean? we don't really understand about that phrase but I consider the answer is 'yes they are'.