China might really be out of Bitcoin and the cryptospace - page 2.

taufik123

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Quote from: cheezcarls on July 17, 2021, 07:44:46 AM

They’re anti-Bitcoin but pro in blockchain. This is absurd. How would a blockchain fully function without crypto (unless they are launching their own CDBC). China doesn’t want to innovate and I’m pretty sure that they would be left behind later on in terms of adopting new stuff that would benefit their country’s economy.

Too many restrictions in China like the Great Firewall, doesn’t give a lot of freedom for the Chinese community. At least they’re not that worse like North Korea.

Bitcoin and blockchain are different things. China is no longer pro with bitcoin and prohibits bitcoin in its country. But China is developing their own blockchain and wants to create its own ecosystem. China is doing innovations that I don't think will be left behind by the others. China's recent decisions are indeed very contrary to bitcoin and make bitcoin price crash. but behind that china is building their own ecosystem.

cheezcarls

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They’re anti-Bitcoin but pro in blockchain. This is absurd. How would a blockchain fully function without crypto (unless they are launching their own CDBC). China doesn’t want to innovate and I’m pretty sure that they would be left behind later on in terms of adopting new stuff that would benefit their country’s economy.

Too many restrictions in China like the Great Firewall, doesn’t give a lot of freedom for the Chinese community. At least they’re not that worse like North Korea.

sherenikaw

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I've read articles like that where there are several countries including China that are againts crypto. It's true that we can't compare countries with each other with the policies of each country. All countries have their own policies for accepting or against crypto. As someone who has entered the crypto world, of course the news made me sad but somehow it all happened. Anything can happen in the crypto world. As long as my country can still accept crypto then I will be calm and I also know that there are many other countries that accept crypto. Of course that's good apart from the news. So as long as crypto is still well received then I think crypto can also grow.

Wind_FURY

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Quote from: bbc.reporter on July 17, 2021, 01:07:01 AM

@temple. History repeats and has a tendency to repeat itself. It has been happening in the past when there is a new rising power to challenge the current super power, the current super power will always protect its position.

In any case, Beijing has confiscated more than $100k worth of miners and flattened them with an industrial steamroller.

https://mobile.twitter.com/btcinchina/status/1415923704375123970?s=12

That’s a symbolic action from the Chinese government depriving people from financial freedom. They will sell it if they didn’t believe that there was a need to spread an anti-Bitcoin propaganda. But it’s OK for Bitcoin. It survived its first serious attack from a state actor.

Ararbermas

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Quote from: ?? on ??

I hope that they're really out of the cryptospace for good because they don't really contribute anything but FUD and negativity to the market. Of course I am talking about the government, the people in that country just have to make do with how they are going to access their accounts and coins.

from the start they are always the reason why people alway going crazy in the market just to dump due to some negative news that comes from their country.. And now for sure a lot of people clapping their hands because they're out in the space. And i believe that's the reason why market stop decreasing as well even though there's a negative news from them , wherein perhaps a bunch of investors see that it cannot make an impact after all..

bbc.reporter

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@temple. History repeats and has a tendency to repeat itself. It has been happening in the past when there is a new rising power to challenge the current super power, the current super power will always protect its position.

In any case, Beijing has confiscated more than $100k worth of miners and flattened them with an industrial steamroller.

https://mobile.twitter.com/btcinchina/status/1415923704375123970?s=12

temple

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Quote from: bbc.reporter on July 12, 2021, 09:52:58 PM

Quote from: cryptomaniac_xxx on July 10, 2021, 05:29:46 AM

Quote from: bbc.reporter on July 09, 2021, 07:11:18 PM

@temple. Agreed! I have read some news articles on how China has militarized its southern border facing India and had a skirmish versus the Indian military using spiked clubs that killed Indian soldiers and their captain. You can google China India border fight to find that article.

They might be expanding their empire hehehe.

They have been expanding their empire, checked the Philippine West Sea and Scarborough issue, they are expanding territories and aggressively building military installations to that island who is still in dispute.

So regardless of their plans on bitcoin, whether they are out for good or not, there are more pressing issues on their side, specially trade and military expansion around that region.

China has also declared that they are strengthening their military ties with North Korea. I speculate next would be Iran, Pakistan and some countries in Asia that have become victim of China’s debt trap policy. Also, one of the first signs of this forewarning is when your country allows testing of China’s vaccines on your children.

There are some people in China that says the Chinese government wants to begin giving vaccines to their children, however, it requires more testing on real children. I speculate it would be first tested on the children of countries indebted to China.

The North Korean and Chinese leaders expressed their desire Sunday to further strengthen their ties as they exchanged messages marking the 60th anniversary of their countries’ defense treaty.

Source https://apnews.com/article/health-china-coronavirus-pandemic-north-korea-8fc7a269318c481035c43b030754cbf0

I am thinking for a while now that it is an illusion to believe that our generation will get away with no big war at all. I just checked the biggest military list in terms of personnel as of 2021 and it says that China has a little bit more than two million active soldiers. I don't believe that number is accurate. I can imagine that it is much much bigger than that. North Korea is also big although I guess they lack behind when it comes to technology, but who knows... Now that they might cooperate more closely with China, the technology issue is kind of resolved for them as well.

777Jolami

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China has a huge influence on the bitcoin market, this is proven by market history, 2018 they created a deep pit. The market is suffering from many factors, with great negative influence also from China's mining crackdown. But I think the situation would be different, they made a mistake. In the short term bitcoin price could move sideways or down to $20k but long term it's a pump, just wait I guess!
Fud news, charts and indicators are speaking for the short.

bbc.reporter

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Quote from: cryptomaniac_xxx on July 10, 2021, 05:29:46 AM

Quote from: bbc.reporter on July 09, 2021, 07:11:18 PM

@temple. Agreed! I have read some news articles on how China has militarized its southern border facing India and had a skirmish versus the Indian military using spiked clubs that killed Indian soldiers and their captain. You can google China India border fight to find that article.

They might be expanding their empire hehehe.

They have been expanding their empire, checked the Philippine West Sea and Scarborough issue, they are expanding territories and aggressively building military installations to that island who is still in dispute.

So regardless of their plans on bitcoin, whether they are out for good or not, there are more pressing issues on their side, specially trade and military expansion around that region.

China has also declared that they are strengthening their military ties with North Korea. I speculate next would be Iran, Pakistan and some countries in Asia that have become victim of China’s debt trap policy. Also, one of the first signs of this forewarning is when your country allows testing of China’s vaccines on your children.

There are some people in China that says the Chinese government wants to begin giving vaccines to their children, however, it requires more testing on real children. I speculate it would be first tested on the children of countries indebted to China.

The North Korean and Chinese leaders expressed their desire Sunday to further strengthen their ties as they exchanged messages marking the 60th anniversary of their countries’ defense treaty.

Source https://apnews.com/article/health-china-coronavirus-pandemic-north-korea-8fc7a269318c481035c43b030754cbf0

ene1980

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Quote from: Argoo on July 11, 2021, 12:33:15 PM

Sooner or later, however, a similar situation with an almost complete ban on the use of cryptocurrencies by the Chinese government had to happen. Previously, the Chinese government was in no hurry, but now they are preparing to launch their digitized yuan and this is pushing them to take measures to eliminate all possible competitors of their digitized currency.

The launch of their digitized Yuan might be one of the reason, but for me they have a complete dictatorial government and they do not like to give their citizen any privacy in any form and they do not want them to have financial freedom and hence they are trying their best to restrict in its roots.

Quote from: Argoo on July 11, 2021, 12:33:15 PM

On the other hand, to be constantly dependent on the possible provocations of this government and to have a constant source of bad information, something had to be done about it. It is better to solve this problem earlier and finally, than it could appear at the most inopportune moment.

Everyone is really sick of these news whenever the market is rallying but i do not think these specific news is solely responsible for the market correction and we have used them as an excuse Grin

.

Argoo

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Quote from: Nunoluck on June 27, 2021, 03:57:11 AM

I hope by this news bitcoin price can go down under 30K , I have been waiting for this. I want to buy bitcoin at 20K price level. Honestly I think if China completely leave bitcoin then it is a big problem for cryptocurrency market, many people will be afraid and then sell their bitcoin. In other side it is also create a new big opportunity to replace china domination in cryptocurrency investment. I think we are a big community now, we are the market.

Sooner or later, however, a similar situation with an almost complete ban on the use of cryptocurrencies by the Chinese government had to happen. Previously, the Chinese government was in no hurry, but now they are preparing to launch their digitized yuan and this is pushing them to take measures to eliminate all possible competitors of their digitized currency.
On the other hand, to be constantly dependent on the possible provocations of this government and to have a constant source of bad information, something had to be done about it. It is better to solve this problem earlier and finally, than it could appear at the most inopportune moment.

nortwood

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Quote

lets take antpool. the highly controversial pool deemed always as "china"
seems it went from 30ex down to 10exa. but is now recovering and getting to 14 exa in recent days
https://btc.com/btc/pool/29?id=29&chart=hashrate
so it doesnt seem like they are "out"

seems their ultimate bottom july1st (10exa) :- lets call that point X
seems their ultimate peak hashrate X-1.5 month (>30exa)
seems their next step down was X-1 month(>20exa)

and now X+2weeks they are recovering at 14exa
which seems to be on target to recover to peak of 30exa by X+1.5month

taking a look at btc.com own pool
https://pool.btc.com/en-US/pool-stats
50% of blocks it mines come from china (SZ, beijing, Shenzen)

again seems "china" is not out

This is encouraging to see.

Vishnu.Reang

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As long as these restrictions are limited to China, I don't have much issues. Those citizens who want to own cryptocurrency will find a way to do so - either through proxy holdings, or through exchanges that are based outside China. Actually I am surprised that China allowed cryptocurrencies such as Bitcoin and Ethereum for so long. Remember that this is a country that doesn't allow social media platforms to operate freely. Each and every aspect of economy in China is manipulated. So I was expecting a ban sometime soon. Now they are moving towards a proper ban, the question is whether they will be able to implement it or not.

franky1

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lets take antpool. the highly controversial pool deemed always as "china"
seems it went from 30ex down to 10exa. but is now recovering and getting to 14 exa in recent days*
https://btc.com/btc/pool/29?id=29&chart=hashrate
so it doesnt seem like they are "out"

seems their ultimate bottom july1st (10exa) :- lets call that point X
seems their ultimate peak hashrate X-1.5 month (>30exa)
seems their next step down was X-1 month(>20exa)

and now X+2weeks they are recovering at 14exa
which seems to be on target to recover to peak of 30exa by X+1.5month

taking a look at btc.com own pool
https://pool.btc.com/en-US/pool-stats
50% of blocks it mines come from china (SZ, beijing, Shenzen)

again seems "china" is not out

edit 12th july:
*antpool now hitting into the 15exa range

verita1

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I am moved by the Chinese community, I also concern the pressure that the Chinese government has imposed with its regulations and prohibitions. For a moment I put myself in the place of a Chinese citizen, not being able to access all my Crypto Apps. The feeling has been horrible because of what it represents for me. Because once we discovered Bitcoin and Crypto space everything that moves around us gives us the freedom to choose and if we lack a bank account is a solution.

Viscore

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Live with peace and enjoy life!

Quote from: randegibran on July 10, 2021, 12:41:20 PM

if.this is.true then crypto will again experience a price decline.as it.did before, with this incident.we can.buy bitcoin again at a relatively.cheap price and this will greatly.affect the crypto world because today the business.world is.very influential.with the intervention.of countries.such as China which can.change a world market price, including in.the crypto world, this is.something we need to be aware.of and anticipate.if this happens.in the future

This news is not new to us as China keeps on banning crypto so they can launched their own digital currency. Maybe the crypto market was affected before that turned the market into a sudden bearish but with this present one, i don't think it will create another huge impact again.

For me, even if China has banned all its crypto related activities, i think there are still residents who secretly hold bitcoin for their own benefits. A single country may have all the resources to ban bitcoin and its crypto related but it can never control the people who are still into bitcoin secretly.

randegibran

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if.this is.true then crypto will again experience a price decline.as it.did before, with this incident.we can.buy bitcoin again at a relatively.cheap price and this will greatly.affect the crypto world because today the business.world is.very influential.with the intervention.of countries.such as China which can.change a world market price, including in.the crypto world, this is.something we need to be aware.of and anticipate.if this happens.in the future

cryptomaniac_xxx

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Quote from: bbc.reporter on July 09, 2021, 07:11:18 PM

@temple. Agreed! I have read some news articles on how China has militarized its southern border facing India and had a skirmish versus the Indian military using spiked clubs that killed Indian soldiers and their captain. You can google China India border fight to find that article.

They might be expanding their empire hehehe.

They have been expanding their empire, checked the Philippine West Sea and Scarborough issue, they are expanding territories and aggressively building military installations to that island who is still in dispute.

So regardless of their plans on bitcoin, whether they are out for good or not, there are more pressing issues on their side, specially trade and military expansion around that region.

bbc.reporter

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Activity: 3010

Merit: 1460

@temple. Agreed! I have read some news articles on how China has militarized its southern border facing India and had a skirmish versus the Indian military using spiked clubs that killed Indian soldiers and their captain. You can google China India border fight to find that article.

They might be expanding their empire hehehe.

temple

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Quote from: bbc.reporter on July 08, 2021, 11:37:27 PM

It appears that China is not stopping the bans only on bitcoin and the cryptospace. The Chinese government is also beginning to create a proposal to block Chinese companies from doing IPOs and stock listings in other countries. China is making great efforts to keep all the money inside. The skeptical me says that there is certainly a much bigger agenda behind this. Preparation for a big war?

Regulators in Beijing are planning rule changes that would allow them to block a Chinese company from listing overseas even if the unit selling shares is incorporated outside China, closing a loophole long-used by the country’s technology giants, according to people familiar with the matter.

The proposed change is the first indication of how Beijing plans to implement a crackdown on overseas listings flagged by the country’s State Council on Tuesday.

It would also threaten a lucrative line of business for Wall Street banks and add to concerns of a decoupling between China and the U.S. in sensitive areas like technology. Chinese firms have raised about $76 billion through first-time share sales in the U.S. over the past decade.

Source https://www.bloomberg.com/news/articles/2021-07-07/china-mulls-closing-loophole-used-by-tech-giants-for-u-s-ipos

Wow... I've been dealing with that thought process, too. They are spending so much money on military education, technology and engineering that I believe one day it is going to be put to use. All the projects they have going for them. There a very interesting reports and documentaries you can watch. They are going to be the real superpower in the world. They are extremely rich and have established influence all over the world. I have no idea what the future has cooking for us, but I wouldn't exclude any scenario from the list of possibilities.

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