Virtual Civil BS
Topic: China to make Bitcoin (virtual properties) a civil right. (Read 1791 times)
Wat do they call the digital code behind fiat???
Virtual Civil BS
Virtual Civil BS
This is great news china .if true then it would be a great power. they will be able to compete with bitcoin. bitcoin will get a strong rival. we can see how the population of China today.
Yes, I agree. The strong influence of China's true for Bitcoin industry, and much more than in the case of the traditional economy. The involvement of Chinese investors in cryptocurrency so high that it is the internal processes that take place in this country, have a direct impact on the value of Bitcoin.
This is great news china .if true then it would be a great power. they will be able to compete with bitcoin. bitcoin will get a strong rival. we can see how the population of China today.
China is going to take over the economy. Imagine, most of the bitcoins are held by Chinese bitcoin users and if the value of bitcoin goes up, their market value goes very huge. But personally I am glad that a country unveils it's stand on a digital property. It might pave a path to other countries.
wow interesting and that is such a good news about crypto currencies. it will really bitcoin in promoting and to stable the position of the bitocoin. and such news causes the increasing rate of bitcoin. i think people will now get more confidence and will try to invest more and more money here.
^
1. Don't know, neither do you, and it doesn't make any difference. What does this have to do with KYC?
2. See above
3. An average internet user who isn't a complete idiot could. Are you telling me that everyone in China is an idiot?
When was the last time you checked in at the crazy house, crazywack?
1. Don't know, neither do you, and it doesn't make any difference. What does this have to do with KYC?
2. See above
3. An average internet user who isn't a complete idiot could. Are you telling me that everyone in China is an idiot?
When was the last time you checked in at the crazy house, crazywack?
Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.
I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?
Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.
Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.
Like KYC in the good ol USA?
Despite the pseudo anon of Bitcoin it's pretty easy to tell who is who once a BTC to USD is made.
You're living up to your name, crazywack.
1. KYC in the good ol' USA doesn't make it easier to bypass capital controls & move money out of the country.
2. US citizens aren't actively trying to turn their USD into CNY, so there's no issue.
3. "it's pretty easy to tell who is who once a BTC to USD is made" if you are stupid and do it wrong. If you do it right, it's damn near impossible.
I swear
1. Are Chinese citezens moving money out of China as a hedge OR to transfer money to family? Yes laws are already in place to prevent money transfer.
2. See above
3. You may be able to hide but can the average internet user do it?
I swear
Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.
I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?
Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.
Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.
Like KYC in the good ol USA?
Despite the pseudo anon of Bitcoin it's pretty easy to tell who is who once a BTC to USD is made.
You're living up to your name, crazywack.
1. KYC in the good ol' USA doesn't make it easier to bypass capital controls & move money out of the country.
2. US citizens aren't actively trying to turn their USD into CNY, so there's no issue.
3. "it's pretty easy to tell who is who once a BTC to USD is made" if you are stupid and do it wrong. If you do it right, it's damn near impossible.
I swear
Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.
I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?
Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.
Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.
Like KYC in the good ol USA?
Despite the pseudo anon of Bitcoin it's pretty easy to tell who is who once a BTC to USD is made.
Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.
I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?
Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.
Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.
Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.
I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?
Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.
Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.
I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?
Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.
Knowing that fact that this previous weeks, Chinese people are rushing to buy Bitcoin, It's no surprise that Chinese government are taking / considering that digital stuff are personal rights. The chinese government is very smart to pass that law that the possibility of their citizen holding majority of the coin means and edge over other country once BTC is recognized as it aims to be.
yes that is a fact. i have heard it from one of my friend. he has a strong knowledge about bitcoin. china are really working on bitcoin. i think it is their aim to make bitcoin a uvivesal crypto currency. they are really working hard on that.
I think that, given most of the daily BTC transaction volume happens in China, they consider Bitcoin as something over which they have a sort of "ownership". Bitcoin is a global currency/store of value and IMO through it they think they can play an even more important role in the future international economy, so they have to make it bigger and bigger.
The Chinese government has to use two currencies, one for mainland China, and the other for trades abroad. Making Bitcoin bigger could save them from the need for that complex system. They could allow trades through Bitcoin for trading abroad.
Great point, store of value transferred at near to instant speed. Always thought the good ol USA would be the ones to put Bitcoin in the woods view. But with all the regulation I have changed my outlook.
China has the potential to blow the roof off this, along with a major mining stake. They have every incentive to make it a world wide accepted currency.
What transaction volume? It's either going to or leaving an exchange and that's about it. There are virtually no nodes there compared to the West.
I think that, given most of the daily BTC transaction volume happens in China, they consider Bitcoin as something over which they have a sort of "ownership". Bitcoin is a global currency/store of value and IMO through it they think they can play an even more important role in the future international economy, so they have to make it bigger and bigger.
The Chinese government has to use two currencies, one for mainland China, and the other for trades abroad. Making Bitcoin bigger could save them from the need for that complex system. They could allow trades through Bitcoin for trading abroad.
In the future all countries shoul take some steps that will be in.favour pf Bitcoin and that will lead to the whole acceptance. Bitcoin and other virtual currencies are out inevitable reality, they will grow and develope with the time even more, it is used almost everywhere, so this is the fact that governments just can't ignore.
Awesome news, glad to see this. Getting tired of all the back and forth rumors from China and Russia on is it or isn't it going to be banned. Should show up in the price soon. 
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