China to make Bitcoin (virtual properties) a civil right. - page 3.

julian071

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Quote from: pereira4 on June 28, 2016, 09:18:35 AM

Quote from: poptok1 on June 28, 2016, 08:36:40 AM

Isn't it strange that of all things, communist country like China recognises
and empowers bitcoin among citizens?
Country that hardly cant accept private property in its ideological core, establishes
bitcoin laws and recognises it, allowing for people to have them...
Is there some government agenda? All the coins from china belong to state?

China is a weird as fuck country, I don't really get it, but nonetheless, this is great news for Bitcoin. Even tho Bitcoin doesn't really need the approval or banning of a country to make it legitimate since its legitimacy depends on the math that runs the algorithm and not some politician idiots saying things about it, this helps the average Joe drone that listens to what the government says about things in order to determine if something is good or bad.

Therefore, this is just more bullish news. Anyone trying to be a smartass by shorting on good news is about to get burned.

You should read the article, it's not very long or complicated. It's about better protecting digital assets that citizens own. This would make it easier to pass judgement in cases of digital theft, for example. People will be better protected when handling digital assets

I'm sure this is a horrible thought to all the libertarians who'd like to see as little 'government interference' as possible haha.

pereira4

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Quote from: poptok1 on June 28, 2016, 08:36:40 AM

Isn't it strange that of all things, communist country like China recognises
and empowers bitcoin among citizens?
Country that hardly cant accept private property in its ideological core, establishes
bitcoin laws and recognises it, allowing for people to have them...
Is there some government agenda? All the coins from china belong to state?

China is a weird as fuck country, I don't really get it, but nonetheless, this is great news for Bitcoin. Even tho Bitcoin doesn't really need the approval or banning of a country to make it legitimate since its legitimacy depends on the math that runs the algorithm and not some politician idiots saying things about it, this helps the average Joe drone that listens to what the government says about things in order to determine if something is good or bad.

Therefore, this is just more bullish news. Anyone trying to be a smartass by shorting on good news is about to get burned.

yayayo

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It's not clear, what the concept of "civil right" or "People's Right" does really mean. Maybe it is just a translation problem. To me it seems that the term "People's Right" actually means private property right. So it's considered as something similar to a corporate share.

Whatever the law really recognizes, I don't think it does matter much for the average Bitcoin user in China. Bitcoin is decentralized and can't be easily controlled by the government. Even if it was considered illegal, people could still use it. So I don't expect any significant effect from passing this law.

ya.ya.yo!

julian071

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Merit: 818

Quote from: poptok1 on June 28, 2016, 08:36:40 AM

Isn't it strange that of all things, communist country like China recognises
and empowers bitcoin among citizens?
Country that hardly cant accept private property in its ideological core, establishes
bitcoin laws and recognises it, allowing for people to have them...
Is there some government agenda? All the coins from china belong to state?

Whether or not you find it strange depends on your perception of what China is.....

I clearly have a different perception as I'm not that surprised.... It's just the smart thing to do.

Quote from: pedrog on June 28, 2016, 09:10:44 AM

Does this means that now everything digital belongs to the government?

All bitcoin mines will be nationalized?

It's a smart hing to better protect the private digital properties of the Chinese citizens by law. This will allow for more rapid development in this field.

Labumi

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Quote from: ABCbits on June 28, 2016, 08:24:57 AM

That's great news, but it would be better if bitcoiner in china is allowed to use bitcoin as currency

This is good news, I think there is indeed a possibility that bitcoin is going to be one currency that could be used in China, as most of china is also using bitcoin for every transaction done. This might be the beginning where bitcoin will become larger and successful

pedrog

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Does this means that now everything digital belongs to the government?

All bitcoin mines will be nationalized?

poptok1

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Bobby Fischer was right

Isn't it strange that of all things, communist country like China recognises
and empowers bitcoin among citizens?
Country that hardly cant accept private property in its ideological core, establishes
bitcoin laws and recognises it, allowing for people to have them...
Is there some government agenda? All the coins from china belong to state?

iv4n

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Activity: 3346

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Great news! I like when I read something positive about btc, it was time for some governments to start accepting btc. This is good thing, and if its really truth I think this will be just beginning. Other countries will start to follow this, in that light this will be huge step for btc and for btc community.
I will follow news about this, and I'm interested to see what will happen about this.

ABCbits

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Crypto Swap Exchange

That's great news, but it would be better if bitcoiner in china is allowed to use bitcoin as currency

rtrtcrypto

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Is this LEGIT? Because this is gigantic.

the_poet

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Bitcoin accepted here

China’s Proposed New Law Recognizes Bitcoin as ‘People’s Rights’

https://news.bitcoin.com/china-recognize-bitcoin-peoples-rights/

Elwar

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Viva Ut Vivas

Quote

With the publication of the Civil Code General Provisions Draft, virtual properties and data have officially become Chinese people’s rights, what this means is that cryptocurrencies e.g. Bitcoin, virtual currencies e.g. online gaming tokens and data information, e.g. Big Data, shall all be officially recognized as Civil Right Objects. Yesterday(June 27th ), the 21st session of the 12th National People’s Congress Standing Committee(China’s Congress or/and Senate) was held in Beijing. The session reviewed, for the first time, the illustration on the PRC Civil Code General Provisions(Draft) Proposal, which was brought to the floor by the Chairman Meeting of the NPC Standing Committee. Within the draft, we see articles on virtual properties and data information, classifying them as new type of civil right objects, this means that virtual properties and data shall officially become people’s rights.

https://www.reddit.com/r/Bitcoin/comments/4q8eu9/chinese_civil_code_general_provisions_draft/

Topic: China to make Bitcoin (virtual properties) a civil right. - page 3. (Read 1791 times)