Topic: China's adoption of BTC (Read 3935 times)

Definitely so, China is a huge market and a very big country ...

Only if the state is seen as illegitimate by its constituents. It seems likely that all governments will have to start adapting their policies to cope with the coming wave of "digital tax havens". Governments that are more responsive will naturally have an advantage over those that are late to the party. As often seems to be the case with new technology, (assuming rational behaviour) the big players will be eager to incubate Bitcoin on home soil to get maximum benefit from it later.

We can only hope that China understood potential in bitcoin. One just can't resist new technology forever. Well, in fact but only if he can accept that the world is outperforming him.

while we do enjoy some freedoms that chinese people don't (such as the freedom of speech), don't we end up getting fucked over by the government the same way? it's just a jerry rigged game that requires you fuck over the regular guy to get to the top.

+ infinity!!! I can't add much to that, except that Americans have forgotten the prescient words of one of our founders. "They that can exchange essential liberty for a little temporary safety deserve neither liberty nor safety."

They'll figure it out.

First people invent a thing. Then it causes unintended problems in addition to the solution it was supposed to address. Then they tweak the design to solve the new problems. On success, the cycle repeats. This has been the nature of our species for as long as we are able to reconstruct it.

Right now, China is economically and socially about where the United States was in the early twentieth century, though with much higher levels of available technology. As the average chinese people become more affluent, it will become apparent to them that living in a cesspool is unattractive, and they will start doing things to tone down the polluition. How bad a problem it is at that point is another question, but the pattern has gone on for a long time, and I see no reason why it will not continue. Technology is more often evolutionary than revolutionary, we just tend to see the big jumps over the small ones.

Yes, there's no doubt I feel very lucky to have been born in a capitalist democracy rather than a communist or similar country.  I just don't think we should rest on our laurels and think we are free because we have more freedoms than those other countries.    Our own governments are the greatest threat to our freedoms.  Not the terrorists (who for the most part only exist because of Western Govts aggression) nor these other countries goverments who have a hard enough time keeping their own people down.  It's our govts taking away our freedoms and telling us that we are free who are the danger.  Why do they need to to tell us we're free all the time?  If we were free , it would be self-evident and there would be no need to say it constantly.  Nor is it that people in other countries hate us for our freedoms.  No, they hate the US for interfering in their countries, they don't care if the people themselves in the US are free or not, why would they?  It's a ridiculous concept to think that they do.  They care about their own lives in their own countries just as most Americans care about their own lives in America.  The recent uprising's show that fundamentally, these people want to be free too.   It seems more than ever that it's most Americans who are eager to throw away their freedom for (illusory) security.  

Communism and democracy are not a dichotomy. Democracy is a political system and communism is an economic system. autocracy is the opposite of democracy and capitalism is the opposite of communism.

So i think you either mean to say: "I've always been told that we're fortunate to be growing up in a democratic society as opposed to an autocratic state such as China" or; "I've always been told that we're fortunate to be growing up in a capitalist society as opposed to a communist state such as China".

Yes.


I think, no one can buy up all. I think some governments finding a suitable way to reduce risk, since bitcoin is based with mathematical ,traceable, which should be trusted.

I have nothing against wanting clean air/environments and not using Nuclear Power Plants but environmentalists have dug themselves into a hole by repeatedly trying to scare people into doing what they say rather than use scientific facts. The world isn't going to end because of carbon dioxide, the world is going to end because we have incompetent morons building Nuclear Power Plants right next to major cities that could explode at any time because even if you ran them like a military complex as the Japanese did something is going to set it off.

You may as well be sitting on a nuclear bomb and seeing how long it takes before that goes off.

Very intelligent indeed...
Without the environment, there is no economy or society.

It doesn't really bother me I love when everyone has bitcoins

No, I think it's a very good thing because even if they, the Chinese state, is acting like they like BTC, it is disruptive and will weaken the state.

China adopts currencies the rest of the world adopts children.

Big Yes.

Oh, we know in gross what it holds. No massively inflating fiat currency has ever survived, and it's rare that it's issuing authority doesn't go down with the ship.

And yeah, I know they are more overtly communist, but the core difference between the two socialist flavors, economically, is the hand in glove partnership between key industrial leaders and the state. Communism rejects that, philosophically at least. Haven't the time to read your link yet, so I may edit this in a few days.

Maybe, though much more overtly communist than fascist.  US has diligently followed Marx's manifesto increasing as it goes.

http://laissez-fairerepublic.com/tenplanks.html

Who knows what the future will hold though?

Scares me more that they haven't. Besides, the US is more fascist than communist Good mix of both, though.

Does is scare anyone that a communist country like the USA or a communist region like the EU embrace it?


The US Government is the largest state holder of Bitcoin currently.  If they want to catch up, they will have to have a bunch of drug sales organizers hang out there that they can bust and seize.
Or just spend a lot.

It wouldn't surprise me at all if they were, they enjoy holding anything that has value and they've used that against the U.S for years without them even realising it, the Chinese government has also been encouraging their citizens to buy up Gold and the other usual precious metals.

http://www.noblecoins.com/Gold-and-Silver-Investment/Gold-investment/china-promoting-buying-of-gold.html ( will find a better source once I look around later at the mainstream news stuff )