Topic: China's game plan - page 2. (Read 678 times)

I agree with you. The impact of the cryptocurrency industry on the Chinese economy is negligible. China has introduced a policy to prohibit mining, which should be a good thing for Bitcoin. De-Sinicization is more in line with the concept of decentralization.

I don't think china will come out that easy, let alone the bitcoin network has many ways to access it maybe they will come back to glance when it really becomes deserted, currently we are losing the largest mining in china , but they could be back in a new way that we have never thought before.

This summary is to understand why China does not want bitcoin as a competition to its Digital Yuan. It is as some members say is to bring e-CNY to the minds of people in China and erase bitcoin at a stroke. Being the first major economy worldwide to launch a digital currency says it all. Although e-CNY is still a pilot plan, China is adding all its efforts to carry out its purpose with its digital currency.

And they can always change their mind when they see a good opportunity for them. I believe what they are doing today is not their ultimate approach towards crypto. How many times in the past have they changed their stance towards crypto? Many times already. That's the reason why I am thinking that sooner or later, they will change again their stand on this. Some countries are legalizing the use of it, but there's a reason why they are very strict with crypto today.

I lived in the Soviet Union and saw this ideology. To say that China bans bitcoin because it contradicts the communist idea is a wrong statement.
I agree that mining does not provide more jobs than a modern plant, but China could offer miners an alternative elsewhere on the border with Russia, where they can get cheap electricity and control this business.

China's Sichuan province uses hydropower, why do you call it dirty?

I was wondering what was the reason for the recent price increase in the fee of Bitcoin specially Segwit.
Now I'm paying at least 40sat/B fee for what I used to pay was 10sat/B.


China has control to maintain and Bitcoin directly opposes a country like China where people don't have any rights, even if they have rights then they are subject to change anytime by the Communist Party.


As I said, China can't risk their control which bitcoin directly opposes even if they miss out on some Trillion dollars.
But they will lose much more in long term by not banning Bitcoin, People will have an easy time evading taxes through the use of bitcoin and other cryptos.

The Bitcoin ban is just a message to the citizens of China, a threatening one, Where the word "ban" makes people afraid even if they don't use bitcoin. When someone tells them about bitcoin then they'll remember this word and will not listen further about bitcoin because they're afraid of opposing the rules.

The miners are already shipping their mining equipment to other countries and soon the hashrate will be normal and it has not dropped significantly.The central mining control in China now will be scattered globally and miners will keep running the machines due to the rewards associated with mining and moreover many cold and cheap electricity places have turned positive towards Bitcoin and crypto market so it will not be an issue for them to relocate.

So if they have moved to Canada then so called environmentalist might be issuing statements that heat wave in Canada has spread due to bitcoin mining  .They will not blame global warming and other man made factors for that but still btc is going to surge.

China has been very strategic for the past years and now that they are making a move again with relation to crypto, some people are seeing it as a wise move while some are seeing it as a mistake. China surely thought it through before they did it and for sure they have a back up plan or a hidden agenda why they did it. Each country has their reputation and their reason why they are rejecting bitcoin's regulation while some are already starting to legalize the use of it since they see it as something that will save them in the future. China is a huge and smart country, they know what they are doing for sure.

It is about their Own Coins that's why they try to push out Miners of bitcoin and they will make miners for their own coins..

China will always be greed and functional for their own peoples benefits .

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But i see these as a best part of the situation because at least now Bitcoin will never be from China again , i mean the biggest part of bitcoin will now be spread worldwide.

now we can see countries here and there that considering adopting bitcoin .

It is not pointless for a communist party that wants to rule absolutely everything, and Bitcoin is a problem for them that they can only overcome if they ban it completely. China has long shown signs that anything to do with Bitcoin is not welcome in their country, and the problem with crypto miners is that most have ignored those suggestions. CBDC is just a digital fiat that the Chinese have been preparing for almost a decade, it has nothing to do with Bitcoin in any sense - people are always looking for reasons for everything that happens, and to link Chinese CBDC and Bitcoin is pointless.


China is a communist dictatorship where people are not asked anything, and those who work against the government end up in a labor camp or something worse happens to them. Capitalism is, of course, part of their daily lives - but under the strict control of a minority that controls everything around them at all times.


Do you really think that part of the energy is a problem for China? It will be used for other purposes, for some domestic companies or perhaps for export, because China has energy for export as well. The Chinese economy needs all possible energy since they are achieving record economic results, and you completely forget that the relocation of mining farms from China means more decentralization and the cessation of speculation that Bitcoin pollutes the environment due to dirty Chinese energy.

It is not very surprising to be honest. China has been planning this for so long. Probably China is doing it on purpose. They are launching their own "digital currency". They probably see bitcoin as a threat to them. Once they launch their currency and test it out, they will highly likely make bitcoin legal again after making sure that it doesn't conflict with their own digital currency. And China isn't dumb. They are smart. Every move they make has a motive behind it!

China can't be dumb and shouldn't be. It has one of the best economies and it is really good on many fields. But interestingly, it took the risk of losing the power of mining and cryptocurrencies. Because it has big benefits for a country when you allow people to trade and mine crypto.

The reason might be its thinking like cryptocurrencies can harm its currency. I don't know if there is another reason.

Well, I guess you think that they are smartest people on earth. It’s not like they are above mistake, you know that right? So there is the possibility that they can be making a huge mistake by banning bitcoin in their country. They can’t be hundred percent perfect all the time. As for them banning bitcoin, I think that the reason they are doing that is because they have decided that it will be best for them to remove Bitcoin so that it is not going to be competition for their own central bank digital currency; the digital Yuan. They just want people to focus on making use of the digital Yuan only and nothing else.

I guess we have done this part and since then, China was always hated bitcoin but luckily, even there's an impact on the price bitcoin always finds ways to recover. We can't blame the Chinese government for this, because each country has a different view on bitcoin adoption. Let them build their own centralized coin as their digital currency, I don't know if their people will never look after the bitcoin since there are too many opportunities waiting on bitcoin while their centralized coin wasn't.

For now, let them be. Bitcoin will recover soon like what happened before because this is not the first time to bitcoin against China.

These miners can always find a new home in other countries that are more open to crypto. However, it will take time as transporting their equipment and acquiring necessary documents will be one hurdle for them. But Chinese will always find a way how to make their business alive. The closure or shutdown of miners in China is not the end of bitcoin. It may have an initial impact in the market but in time, it will go back again.

The fact they are introducing their own digital, central bank, gov coin really hasn’t helped us. I think that is primarily why they have gone for bitcoin. In the long run, no China interference is good but for now it’s hampering us.

And that would be their problem but do they really care about that problem? Of course not and its not surprising that China do really make out these shitty communist decisions for a country.
Doesnt really matter on where they would be ending up when it comes to their decisions because each country or government would have their own decisions but it wont really be completely
affecting the crypto market that bad and we are seeing it on the market condition as of this moment.No matter what their game plan is then the world isnt really just
depending on China.It can make some effect though but doesnt mean it would be that general or permanent.

So I agree that banning bitcoin mining is pointless due to the introduction of CBDC, but China is doing it.
Someone talks about communism, but China lives by capitalist laws.
Bitcoin hashrate has halved, and where will China spend this electricity?
This is a huge problem for China's energy companies.

The Chinese government and the central bank may plan on developing their cryptocurrency, and as we are all aware, China is one of the world-leading countries in terms of technical knowledge of modern tech, which Bitcoin is one of such modern development.
But in my long-term view, china may end up shooting itself on the foot by forcing miners to exit the Chinese market for good.

They are chasing more market dominance and they are competing with other big countries. Winning the competition makes them proud even they have to sacrifice the lives of their people. How crazy it was and a sort of greediness to power makes someone become evil.

They are trying to fully stop cryptocurrency as they are wanting to use their fiat money which they can easily manipulate. China is not a free country anymore as they wanted everything to be controlled, that will be their game plan. I'm so lucky that I was not there so I can still enjoy my Bitcoin.