Topic: China ends term limits, Xi Jinping to rule China for life? - page 2. (Read 520 times)
Nope remember that once you are serving your term as president you will be under the eyes of your citizens as well as the media. Even if Xi Jinping can run and run again for president and their citizens are not seeing any development or progress during his term he will be inevitably replaced by the people. On its Bitcoin side we are seeing that Bitcoin's progress is greatly affected by news relating to China banning cryptocurrencies having a official statement from the President will surely erase the FUD.
If average Chinese can not buy BTC today,this means government has succeeded in its intention.
Spot on. China only cares about the larger number in the end. Regardless of how paranoid the Chinese government is, they aren't stupid. They very well know what to do in order to keep the major part of their people in control.The smaller part of the people that they don't manage to control, is considered to be collateral damage, and something they wouldn't be able to control anyway, so there is nothing lost for them in the end.
I also agree with tee-rex that Bitcoin isn't actually something you move outside a country, but the main thing is that it's more the fact that not Bitcoin is the problem here, but still fiat is.
If you wire money to an exchange, it will likely end up in a foreign country, and if people massively buy themselves into crypto, exchanges will move even more of their capital away from the economy. I think that's the main concern.
Not only regular individuals want to store their capital in other countries, but businesses as well.
They've already banned all crypto exchanges in country,now they are working on the methods how to prevent Chinese citizens to use international exchanges.Only thing working in China regarding cryptocurrency is mining,they allow that just because it make huge profit for them.Money that comes to country is not a problem, but uncontrollable cash outflow through cryptocurrency is unacceptable.
Well, I have to confess I never understood that thing. Could anyone please explain to me in layman terms what this "uncontrollable cash outflow" means in practice? I understand when people buy gold and try to move it across the border because it physically leaves the country. But bitcoin is sort of transcendental in the sense it doesn't recognize borders anyway. So it kinda doesn't need to be moved anywhere since it's already everywhere, Jinping or no Jinping. Where's the catch here?
I think the explanation is very simple,at least for me.When some Chinese wants to move money (CNY) from China to another country they simple buy BTC or some other cryptocurrency,it is easy,safe and effective way of sending money without government knows where and how much money you sending.Since they can not control such transactions only way to stop people to convert CYN in crypto was to ban exchanges.If average Chinese can not buy BTC today,this means government has succeeded in its intention.
They've already banned all crypto exchanges in country,now they are working on the methods how to prevent Chinese citizens to use international exchanges.Only thing working in China regarding cryptocurrency is mining,they allow that just because it make huge profit for them.Money that comes to country is not a problem, but uncontrollable cash outflow through cryptocurrency is unacceptable.
Well, I have to confess I never understood that thing. Could anyone please explain to me in layman terms what this "uncontrollable cash outflow" means in practice? I understand when people buy gold and try to move it across the border because it physically leaves the country. But bitcoin is sort of transcendental in the sense it doesn't recognize borders anyway. So it kinda doesn't need to be moved anywhere since it's already everywhere, Jinping or no Jinping. Where's the catch here?
I think the explanation is very simple,at least for me.When some Chinese wants to move money (CNY) from China to another country they simple buy BTC or some other cryptocurrency,it is easy,safe and effective way of sending money without government knows where and how much money you sending.Since they can not control such transactions only way to stop people to convert CYN in crypto was to ban exchanges.If average Chinese can not buy BTC today,this means government has succeeded in its intention.
I don't know the relationship between Chinese politics and BTC digital encryption currency!
I just want to see that BTC can get a reasonable and legal status in China, which is a good thing for the people of the world's digital encryption currency.
Because china is brave and smart country and their leaders are not all corrupt and the development of china is so wide, that why more of their people are agree on what is the decisions of their government. I just want to see that BTC can get a reasonable and legal status in China, which is a good thing for the people of the world's digital encryption currency.
I think xi jinping, like Russia's putin, can bring new development to the country!
But the BTC is hard to develop in China, where digital encryption requires a long legal presence in China.
What makes you think this "new development" will be beneficial for China in the long run? It looks like Putin is slowly but steadily going mad. And he certainly would be because you can't fight against the whole world all alone. That doesn't mean he is necessarily wrong but I don't think that Xi Jinping would agree to end up in the same boat with Putin. This seems to be an off-target but still inevitable effect of staying indefinitely long in the office.
I don't know the relationship between Chinese politics and BTC digital encryption currency!
I just want to see that BTC can get a reasonable and legal status in China, which is a good thing for the people of the world's digital encryption currency.
Because china is brave and smart country and their leaders are not all corrupt and the development of china is so wide, that why more of their people are agree on what is the decisions of their government. I just want to see that BTC can get a reasonable and legal status in China, which is a good thing for the people of the world's digital encryption currency.
I think xi jinping, like Russia's putin, can bring new development to the country!
But the BTC is hard to develop in China, where digital encryption requires a long legal presence in China.
They've already banned all crypto exchanges in country,now they are working on the methods how to prevent Chinese citizens to use international exchanges.Only thing working in China regarding cryptocurrency is mining,they allow that just because it make huge profit for them.Money that comes to country is not a problem, but uncontrollable cash outflow through cryptocurrency is unacceptable.
Well, I have to confess I never understood that thing. Could anyone please explain to me in layman terms what this "uncontrollable cash outflow" means in practice? I understand when people buy gold and try to move it across the border because it physically leaves the country. But bitcoin is sort of transcendental in the sense it doesn't recognize borders anyway. So it kinda doesn't need to be moved anywhere since it's already everywhere, Jinping or no Jinping. Where's the catch here?
Because china is brave and smart country and their leaders are not all corrupt and the development of china is so wide, that why more of their people are agree on what is the decisions of their government.
You have a very wrong opinion about China,corruption is widespread there, especially among politicians.But corruption and bribe is just what government says it is,since they have absolute power over the people and that human rights barely exist.If you want to find out more how "brave&smart" is China read : How China is ruled: Communist Party and what is Communism
this may cause a problem for bitcoin. if xi jinping decided to ban cryptocurrency, there is no way bitcoin could thrive in that market. it will be also hard to reverse this decision
They've already banned all crypto exchanges in country,now they are working on the methods how to prevent Chinese citizens to use international exchanges.Only thing working in China regarding cryptocurrency is mining,they allow that just because it make huge profit for them.Money that comes to country is not a problem, but uncontrollable cash outflow through cryptocurrency is unacceptable.
this may cause a problem for bitcoin. if xi jinping decided to ban cryptocurrency, there is no way bitcoin could thrive in that market. it will be also hard to reverse this decision
Would "Donald Trump is proposing greater term limitations" have been a better way to phrase it? There are no term limitations for congress or senate. Would introducing term limits be characterized as greater limits or fewer limits? The way things are now, many of them are in office forever. Not unlike what Xi Jinping could eventually become.
I'm wondering if this greater centralization of political power by Xi Jinping could decrease competition which could hurt china over the long term. Could Maduro and Kim Jong's centralization of power in venezuela and north korea be characterized by failure? If the answer to that question is: yes. Then could china face a similar precedent in the future by centralizing power under circumstances where there probably won't be enough competition to streamline operations or incentivize efficiency by those in power, given they're guaranteed their monopoly and likely have little or no motivation to improve circumstances?
I'm wondering if this greater centralization of political power by Xi Jinping could decrease competition which could hurt china over the long term. Could Maduro and Kim Jong's centralization of power in venezuela and north korea be characterized by failure? If the answer to that question is: yes. Then could china face a similar precedent in the future by centralizing power under circumstances where there probably won't be enough competition to streamline operations or incentivize efficiency by those in power, given they're guaranteed their monopoly and likely have little or no motivation to improve circumstances?
Did Trump actually propose it though? As far as I know he was simply amused by the move, saying that maybe they could look into that option in the future, or something to that effect.
I also don't think centralization of political power will be much of a problem as far as efficiency goes. The lifting of term limits simply means Xi Jinping can run for a 3rd time or more, and if a better rival shows up, the rival could be elected over him. Their congress elects their president and can remove them too, assuming it's not under Jinping's control already.
It is interesting how Donald Trump is proposing greater term limits for political office, while in china the complete opposite is occurring with the further removal of term limits. Certainly there is a difference in methodology at the moment with china and america pursuing polar opposites.
It means that when Xi Jinping messes up (and he will, all leaders mess up eventually through either tiredness or hubris or both), they will have to assasinate him to remove him. Whereas before, it would have been a simple matter of saying, "your two terms are up, thank you for your service".
P.S. Donald Trump hasn't got a similar ability to extend term limits in the USA.
The two term limit is part of the Constitution - which means that to change it, you need two thirds of the Senate, two thirds of the House of Representatives AND two-thirds of the states to vote for it. It's pretty hard to do which is why the US constitution doesn't get changed much.
Would "Donald Trump is proposing greater term limitations" have been a better way to phrase it? There are no term limitations for congress or senate. Would introducing term limits be characterized as greater limits or fewer limits? The way things are now, many of them are in office forever. Not unlike what Xi Jinping could eventually become.
I'm wondering if this greater centralization of political power by Xi Jinping could decrease competition which could hurt china over the long term. Could Maduro and Kim Jong's centralization of power in venezuela and north korea be characterized by failure? If the answer to that question is: yes. Then could china face a similar precedent in the future by centralizing power under circumstances where there probably won't be enough competition to streamline operations or incentivize efficiency by those in power, given they're guaranteed their monopoly and likely have little or no motivation to improve circumstances?
I don't know the relationship between Chinese politics and BTC digital encryption currency!
I just want to see that BTC can get a reasonable and legal status in China, which is a good thing for the people of the world's digital encryption currency.
Because china is brave and smart country and their leaders are not all corrupt and the development of china is so wide, that why more of their people are agree on what is the decisions of their government. I just want to see that BTC can get a reasonable and legal status in China, which is a good thing for the people of the world's digital encryption currency.
An interesting move of the China Communist Party,but for me personally nothing unexpected.When we look on some others countries in the world there are similar examples and most mentioned is Dear Leader of North Korea.But we also have absolute ruler of Russia and Turkey,Putin&Erdogan who will leave they functions only in case of death.Let us not forget either Alexander Lukashenko,president of Belarus who is sitting in his presidential chair from 1994.
When I see such an example of political rule I can only conclude that only desire for absoulte power may lead to such decisions.If people are not allowed to go on the elections and elect new people,instead of forwards we are going back to the past to the time of the emperors and the kings.
The decision itself should not have any consequences on cryptocurrency in China,nothing is changed except that one man has gained a lifetime function.
When I see such an example of political rule I can only conclude that only desire for absoulte power may lead to such decisions.If people are not allowed to go on the elections and elect new people,instead of forwards we are going back to the past to the time of the emperors and the kings.
The decision itself should not have any consequences on cryptocurrency in China,nothing is changed except that one man has gained a lifetime function.
How do people see this panning out? It is interesting how Donald Trump is proposing greater term limits for political office, while in china the complete opposite is occurring with the further removal of term limits. Certainly there is a difference in methodology at the moment with china and america pursuing polar opposites.
It means that when Xi Jinping messes up (and he will, all leaders mess up eventually through either tiredness or hubris or both), they will have to assasinate him to remove him. Whereas before, it would have been a simple matter of saying, "your two terms are up, thank you for your service".
P.S. Donald Trump hasn't got a similar ability to extend term limits in the USA.
The two term limit is part of the Constitution - which means that to change it, you need two thirds of the Senate, two thirds of the House of Representatives AND two-thirds of the states to vote for it. It's pretty hard to do which is why the US constitution doesn't get changed much.
I don't think Xi Jinping himself has strong opinions on Bitcoin. I don't think I've ever heard him make a statement about it, unlike Putin who has personally called for regulations. I'm pretty sure him staying in power would do little to change the crypto landscape in China, unless he could plug their economic holes that could lead to exchanges being allowed again.
Also, Xi Jinping is 64. I have nothing against him and I'm not one to be macabre, but I doubt "for life" in this case is as long as people seem to be thinking.
Also, Xi Jinping is 64. I have nothing against him and I'm not one to be macabre, but I doubt "for life" in this case is as long as people seem to be thinking.
China's National People's Congress (NPC) on Monday almost unanimously approved a ban on the term of the country's President, in other words, a move that would allow him to become a lifelong leader of China.
I think this is not a good news for bitcoin. Because at the time of last year, China has banned encryption currency, at that time national leaders is xi jinping, we can see that he is not welcome the COINS, but China has many supporters and owners of the currency.
I think this is not a good news for bitcoin. Because at the time of last year, China has banned encryption currency, at that time national leaders is xi jinping, we can see that he is not welcome the COINS, but China has many supporters and owners of the currency.
Here we come to the coming of Chinese government with crypto to manage. Yes, the play of this player is unknown. This might be a large fish to crypto I guess. If they won't change the leaderships of Xi then they have big trust to this man. Maybe this guy understand more than anyone about something towards every issues that China have today.
What the point to change if he is the only way who understand the entire play?
What the point to change if he is the only way who understand the entire play?
Although, a lot of people would be wondering what is the relationship between Xi Jinping ruling for life and the price of bitcoin? But the issue is that almost everything is related to politics. We all know that today the influence of China on the price of bitcoin cannot be downplayed because every move that they make is to frustrate the continued popularity of bitcoin. A whole of this decision is based on the ideology of the government in power which cannot be separated from the leader at the time.
In this case where the leader is expected to rule for life, it then mean that the onslaught against crypto currency wont stop but if there is a change in power, there is a chance that the change that comes with it, in terms of ideology, the calibre of people, their knowledge of the world of financial technology might be in the favor of crypto currency but now, there is no chance at all.
In this case where the leader is expected to rule for life, it then mean that the onslaught against crypto currency wont stop but if there is a change in power, there is a chance that the change that comes with it, in terms of ideology, the calibre of people, their knowledge of the world of financial technology might be in the favor of crypto currency but now, there is no chance at all.
How do people see this panning out? It is interesting how Donald Trump is proposing greater term limits for political office, while in china the complete opposite is occurring with the further removal of term limits. Certainly there is a difference in methodology at the moment with china and america pursuing polar opposites.
I think that part about Trump would make a lot more interesting and thrilling showdown eventually. In China, it is mostly a dogfight under a carpet as Churchill once said. When Donald became the US president a little over a year ago, I had a discussion with some dude here (maybe it was even you, lol) about his insatiable lust for power and how he is going to grab the absolute power during his presidency with the aim of staying in the office indefinitely long. Now he has a good example to follow, a rolemodel of sorts.
Finally !
We would ... Be able to see someone other than... Their former leader but.. you know.. nothing can be more negative than this.. what China is already doing to Bitcoins...so..it's like.. we cannot expect for more harm..but yes things can be better.
We would ... Be able to see someone other than... Their former leader but.. you know.. nothing can be more negative than this.. what China is already doing to Bitcoins...so..it's like.. we cannot expect for more harm..but yes things can be better.
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