Topic: Chinese citizens could safely hold Bitcoin (Read 692 times)
Anyway if goverment would not allow you to hold crypto , there is plenty of ways to do it and nobody even will notice . Ok when you want to cash out then you will have to find a peer2peer people to give you cash or you can just travel to another country , cashout there and go back =D There was article about India new law if i remember correctly that you can get 10 years in prison if you are associated in any way with crypto :/
As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal".
However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
yes, it might have a positive impact on the price of bitcoin because most of the bitcoin holders are in China. as we saw in the 2017 defense when the Chinese government banned the ICO and it was very bad for the price of bitcoin. and now many things are beneficial if the country uses the blockchain as a tool for present and future transactions. hopefully this will be a better start for crypto investors. However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
If only P2P OTC trading is legal, then this will not have any effect on the price of bitcoin. The only give away we can get from here is that this is a positive news coming from China that concerns bitcoin.
And that's one good thing about crypto that we've all been praising for long: no one can actually stop you from holding Bitcoin. Moreover, China's law on cryptos especially pertaining to trading hasn't been so plain until now. I know that trading is banned there but don't know about OTC until now. Anyways, if it's not illegal to hold it, then I guess it isn't illegal to do person to person transfer then.
We constantly hear in the media certain news about problems in the Chinese state, when the government aggravates the activity of users of cryptocurrency. Nevertheless, more than half of all Bitcoin turns are controlled by the Chinese miners.
What is perhaps somewhat safe to say according to this article is that holding of BTC is not illegally in China, but as for the trading the situation is not clear, although the OTC is mentioned as legal, fact is also that there is "no law that expressly says so". In other words this way of trade can be interpreted as legal or illegal as well, which means that the authorities can act differently, ie that all traders are not equal in the eyes of the law.
Although this news is generally positive, it should be taken with a certain amount of caution for reason we are talking about China here. Their attitude toward cryptocurrency is still fairly unclear, what is legal today does not mean that it will be the same tomorrow.
I understand but as long as they have no regulations or law imposed against it or against the use of it then it is still consider legal unless they have issued a written decree to restrict or prohibit then will only be considered illegal. Although this news is generally positive, it should be taken with a certain amount of caution for reason we are talking about China here. Their attitude toward cryptocurrency is still fairly unclear, what is legal today does not mean that it will be the same tomorrow.
To be honest, the crypto community got tired of China and all the FUD coming from there, ban, no ban, ban again. At this point it doesn't affect the market anymore and frankly it shouldn't, bitcoin is supposed to be a decentralized coin, we should not depend on 1 country, we should not depend on anything but ourselves, as long as there is a few people mining and a few people using it, bitcoin will always exist.
I completely agree with you. A little more then a year ago what China did seemed to effect bitcoins price and I didn't understand it then even. At least everyone has come around. I say leave them behind.
Them with their big mining machines owning the market with almost free power. It is just not fair.
To be honest, the crypto community got tired of China and all the FUD coming from there, ban, no ban, ban again. At this point it doesn't affect the market anymore and frankly it shouldn't, bitcoin is supposed to be a decentralized coin, we should not depend on 1 country, we should not depend on anything but ourselves, as long as there is a few people mining and a few people using it, bitcoin will always exist.
I completely agree with you. A little more then a year ago what China did seemed to effect bitcoins price and I didn't understand it then even. At least everyone has come around. I say leave them behind.
Them with their big mining machines owning the market with almost free power. It is just not fair.
As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal".
However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
yes, it might have a positive impact on the price of bitcoin because most of the bitcoin holders are in China. as we saw in the 2017 defense when the Chinese government banned the ICO and it was very bad for the price of bitcoin. and now many things are beneficial if the country uses the blockchain as a tool for present and future transactions. hopefully this will be a better start for crypto investors. However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
To be honest, the crypto community got tired of China and all the FUD coming from there, ban, no ban, ban again. At this point it doesn't affect the market anymore and frankly it shouldn't, bitcoin is supposed to be a decentralized coin, we should not depend on 1 country, we should not depend on anything but ourselves, as long as there is a few people mining and a few people using it, bitcoin will always exist.
I completely agree with you. A little more then a year ago what China did seemed to effect bitcoins price and I didn't understand it then even. At least everyone has come around. I say leave them behind.
Them with their big mining machines owning the market with almost free power. It is just not fair.
I don't think Chinese people can do anything at all safely, Chinese government can easily outlaw anything on a whim and quickly start prosecuting people - they can do this with crypto, they can do it with hobbies, they can do it with religion, political and philosophical opinions and so on. It's cool that they seem to not prosecute Bitcoin today, but I don't trust them to not change their stance in the future.
As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal".
However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
This is positive information that helps Chinese investors can continue to invest and hold on to Bitcoin. This is an excellent move to help improve stress when the government makes a draft of the new ban related to Bitcoin mining in this country. I hope that this national government should accept Cryptocurrency and promote it to grow. However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
Chinese entraprunars are come up with the more investment on crypto field. Mining, trading, mining equipment selling, lending and so on. In that meanwhile, I have came across the thread which said bitcoin is for scammers.
These people needs to read the thread like this and should know how ideal Chinese are hodling and planning for future utilisation.
These people needs to read the thread like this and should know how ideal Chinese are hodling and planning for future utilisation.
To be honest, the crypto community got tired of China and all the FUD coming from there, ban, no ban, ban again. At this point it doesn't affect the market anymore and frankly it shouldn't, bitcoin is supposed to be a decentralized coin, we should not depend on 1 country, we should not depend on anything but ourselves, as long as there is a few people mining and a few people using it, bitcoin will always exist.
This is really a good news for Chinese people who trade Bitcoin.
Moreover, the growth of bitcoin may have risen. Because china has a vast population ( traders) to use Bitcoin as digital currency
Moreover, the growth of bitcoin may have risen. Because china has a vast population ( traders) to use Bitcoin as digital currency
We could hope that it will still support bitcoin itself because when they still use bitcoin, they are helping bitcoin to grow in their country and I am sure that in the other country, the same thing will happen. We know that China has a large population, and if the number of people who uses Bitcoin is more than 20-30% of the total population, then it really helps the bitcoin growth.
As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal".
However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
China is already been struggling with various such blockchain network issues. I think china also took the initiative to ban the cryptocurrency exchanges so we could not really know what they are thinking upto. China is a nation with completely different mentality. They don't even use YouTube or facebook. Chinese peoples have showed immense growth in the blockchain technology and also there are a lot of multi-national companies launched in chin which have their successfully completed ICO's which collected billions. The government from china might take a good initiative to make the peoples feel safer with respect to their blockchain transactions. However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
this is really good news for every one now chinese investors got clarity regarding holding btc and they can send peer to peer as per chinese lawyer stated
They've ALWAYS been able to safely hold Bitcoin. What's been prohibited is the centralised trading of it and businesses using it. Anyway government attitudes can turn on a dime, or turn out to be a load of shit all along. We no longer need to care about China and that's a good thing.
Agree to it. China had banned trading and mining of crypptocurrencies but not holding them. Things will matter only when the Chinese government decide to uplift the ban from trading and mining of cryptocurrencies.China had been a huge contributor in the crypto market. If the trading ban gets uplifted then we could easily see a spike of a few thousand dollars in bitcoin's price.
As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal".
However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.
What you think about it?
Yes, it is a positive development for Chinese citizens that they can own bitcoin, and doing so will serve as a store of value similar to gold. These investors then can spend their bitcoin abroad or when finally China has the sense to legalize its trading.
They've ALWAYS been able to safely hold Bitcoin. What's been prohibited is the centralised trading of it and businesses using it. Anyway government attitudes can turn on a dime, or turn out to be a load of shit all along. We no longer need to care about China and that's a good thing.
Once China played a big role with bitcoin, even now it has its own contributions. People always with the past thinking exaggerate each and every activity that happen in China. As more and more governments begin to adopt the technology which is the base for the usage of bitcoin provides with a better support in growth.
I don't think there is anything new to find out here. You want to tell me that before this decision was made no one from China hold Bitcoins in their wallets? I tell you that more than 80% of the bitcoin holders kept their bitcoins even though China banned it before because they knew there is nothing they can do to them. So, dont expect to see any major impact on the price because of this news.
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