China gives bitcoin stamp approval as investment alternatives - page 2.

avikz

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Quote from: MrcMrc on April 20, 2021, 06:14:37 AM

The china central bank has given unprecedented stamp approval to bitcoin and other stable coins, as investment alternatives.
As Bitcoin tries to recover from last weekend’s price crash, which brought bitcoin down to $52k from its all-time high of $64k making a $7,000 loss within a few minutes.
This news will further strengthen the bitcoin market to recover fast.

That's quite an U-turn I would say! China was the first country to Ban ICOs and we thought that China would further crack down on bitcoin mining operations across their country. However, if they have given a legal seal to the cryptocurrency investment, that's quite a changenin stance!

Possibly Chinese government is thinking about the future on how the world economy will revolve around the digital currencies and cryptocurrencies and hence taking corrective actions to stay at the top of the game! But beware about the Chinese intrusion in bitcoin market, they don't have good reputation!

bryant.coleman

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Quote from: MrcMrc on April 20, 2021, 06:14:37 AM

The china central bank has given unprecedented stamp approval to bitcoin and other stable coins, as investment alternatives.
As Bitcoin tries to recover from last weekend’s price crash, which brought bitcoin down to $52k from its all-time high of $64k making a $7,000 loss within a few minutes.
This news will further strengthen the bitcoin market to recover fast.

When you post something like this, you need to provide the source as well. How we will get to know whether this is some unfounded rumor, or real? I did a quick search in Google News, and this was one of the articles that I found:

https://www.cnbc.com/2021/04/19/china-calls-bitcoin-an-investment-alternative-marking-shift-in-tone.html

Quote

Li Bo, deputy governor of the People’s Bank of China (PBOC) called bitcoin an “investment alternative.” Industry insiders called the comments “progressive” and said they were “significant.”

Quote

As investment alternatives, “many countries, including China, are still looking into it and thinking about what kind of regulatory requirements. Maybe minimal, but we need to have some kind of regulatory requirement to prevent ... the speculation of such assets to create any serious financial stability risks,” Li said.

So we indeed have some positive signals from the Chinese central bank. I just hope that their colleagues in Nigeria and India are taking note.

crwth

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For those who are interested in articles, you can check the link below.

https://cointelegraph.com/news/china-endorses-btc-investment-5-things-to-watch-in-bitcoin-this-week

Knowing this is comforting, knowing that they approved of it and had China acknowledge it. Like some countries, they would usually consider Bitcoin again, if they ever were to ban it, change their view on it, knowing that most powerful nations are looking for it to be an alternative.

Maybe soon it will receive more impact, and we would reach $100k by the end of the year.

Lucius

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Ordinary people in China have never stopped investing in Bitcoin, they just needed to replace centralized crypto exchanges with decentralized ones or turn to the p2p way of buying and selling. For the Chinese government, all these years, bans on crypto trading have not affected mining too much, nor has it affected the production of mining devices that are exported worldwide.

Such statements are only in line with what has been speculated about for years, and that is that China is looking for a model according to which it will allow Bitcoin again, but in a way that it will be able to control it to a greater extent. Given that the Chinese government is not one of those who do not understand the potential that BTC has, I have no doubt that they have secretly bought quite large quantities.

On the one hand, if China allowed crypto trading again, it would be really positive and would undoubtedly affect the price - the only question would be how long it would take for a new ban, because they often change their minds.

macson

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Quote from: ?? on ??

OP don't even mention where he heard such information, so i have some doubt. However, even if true, it's likely they (people of china) can't have control over their coin.

Quote

China's unclear stance on Bitcoin has dictated the last few years for local Bitcoin firms and holders, but now the country's central bank seems to be shifting its tone.

At a CNBC-hosted panel at the Boao Forum for Asia in Beijing on Sunday, Li Bo, deputy governor of the People's Bank of China (PBOC) reportedly said, “we regard Bitcoin and stablecoin as crypto assets ... These are investment alternatives.”

Li was further quoted stating that cryptocurrencies "are not currency per se. And so the main role we see for crypto assets going forward, the main role is investment alternative.”

source....

China is back with its controversial statement, i don't know what their intentions are and what their plans are for this. imo if indeed the Chinese fully believed in Bitcoin as an "alternative investment" then this would be good for mass adoption.

Kittygalore

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Isn't the people of China not allowed to have a cryptocurrency because it is banned and only the government can have bitcoin? I am pretty sure that it won't affect it that much but we maybe it will affect it a little but who knows.

MrcMrc

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The china central bank has given unprecedented stamp approval to bitcoin and other stable coins, as investment alternatives.
As Bitcoin tries to recover from last weekend’s price crash, which brought bitcoin down to $52k from its all-time high of $64k making a $7,000 loss within a few minutes.
This news will further strengthen the bitcoin market to recover fast.
Link to article
https://cointelegraph.com/news/china-endorses-btc-investment-5-things-to-watch-in-bitcoin-this-week?fbclid=IwAR0WL9WWFOOtvz69gyVzWAk_-S9cxHDlK7PU7w8XFCk5TwGYLfD5-eubpXY

Topic: China gives bitcoin stamp approval as investment alternatives - page 2. (Read 188 times)