Chinese citizens could safely hold Bitcoin - page 2.

Mike Mayor

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I don't think it matters. THere is also no way the goverment can do anything about it. Noone knows you a bitcoin holder to begin with. This changes nothing.

Quote from: Adriano2010 on May 29, 2019, 02:54:32 PM

Well if i'm not wrong i think that only mining was banned and not bitcoin, so i think people from China can still buy and trade bitcoin and hold, i read here on forum that only mining will be stopped.

SO the rest of us can have a chane trying to compete with their free electricty.

Adriano2010

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Well if i'm not wrong i think that only mining was banned and not bitcoin, so i think people from China can still buy and trade bitcoin and hold, i read here on forum that only mining will be stopped.

maldini

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Quote from: The Cryptovator on May 25, 2019, 04:54:45 AM

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?

Is this news correct? is this the official statement of the Chinese government to legalize bitcoin?
Sounds a little strange, before China bombarded miners, banned bitcoin and anything about crypto even though it wasn't all. And now I hear this news, just like a joke.

dr.cheema

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This kind of positive news hype Bitcoin price and the whole crypto market but i think bitcoin is not officially legalize in china.
However, china citizens can trade and hold crypto legally, in case in near future china legalize crypto in their country so we could see big rise in crypto.
https://www.btcwires.com/c-buzz/china-legalizes-peer-to-peer-otc-trading-and-allows-citizens-to-hold-bitcoin/

Sabrin

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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

0zero0

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Quote from: gentlemand on May 25, 2019, 06:03:35 AM

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.

markdario112616

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Quote from: Natalim on May 29, 2019, 05:26:04 AM

Probably this would mean more demand of bitcoin, being one of the biggest country in the world and have a lot of active investors, this would probably mean a positive thing to the market. I wouldn't be surprise to see bitcoin pumping sooner than what we expected due to the big volume that would be coming from them.

Might as well as negative, I guess? *In far far galaxy* Given that the Chinese or China in general is huge in volume, Manipulation could be anywhere near. Given that there are also a lot elites and powerful Chinese, that could easily done it nor connive to the extent of beneficial interests to them.

Though, For us, let's just see brighter side of it. Bitcoin's market would surely be interesting once these Chinese play there money out there. Supply and demand for Bitcoin surely be active at this point *if ever*

Natalim

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Probably this would mean more demand of bitcoin, being one of the biggest country in the world and have a lot of active investors, this would probably mean a positive thing to the market. I wouldn't be surprise to see bitcoin pumping sooner than what we expected due to the big volume that would be coming from them.

ttcsalam

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China is a big country. From technology and they are many tie forward from other countries. If they join, good news. 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.

crzy

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Quote from: DmitFomin on May 28, 2019, 07:10:44 AM

There are many Chinese people who want to invest in Bitcoin, so the fewer bans and the easier it is to buy it, the better for the entire crypto industry. Especially now in China is a difficult economic situation and it would be right for them to soften their policy on cryptocurrencies to reduce the impact of sanctions from the USA.

Its good for the investors and Chinese government should not also make pressure for cryptomining because they also need to have a good miners. China should be more wise, cryptocurrency can be a great solution for solving the problem but i hope more countries will allow their people to use cryptocurrency.

bitbenzhong

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in china,many people use otc trading,becase this is personal to personal trading,they cann't stop it,news is faker

uray

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Quote from: The Cryptovator on May 25, 2019, 04:54:45 AM

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?

So only exchanges are banned in China and anyone could trade bitcoin with exchanges from outside the country and P2P and OTC trading is legal, right now China is not in the map when it comes to bitcoin, earlier i still remember every news coming out from China could change the market situation and the amount of FUD and FOMO during those times we high, glad that it is all over and the government put an end to all those speculations. Cheesy

DmitFomin

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There are many Chinese people who want to invest in Bitcoin, so the fewer bans and the easier it is to buy it, the better for the entire crypto industry. Especially now in China is a difficult economic situation and it would be right for them to soften their policy on cryptocurrencies to reduce the impact of sanctions from the USA.

michellee

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It's up to them, and no matter what their government will do, I think the Chinese citizen could save their bitcoin in a safe place. They don't have to worry if somehow their government really ban cryptocurrency because as long as they don't make any illegal transaction especially if that is not related to the cryptocurrency, they will be safe to keep their bitcoin. But I hope that the Chinese government will not prohibit their people from using cryptocurrency for good things.

marcbitcoins

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China never ban Bitcoin ever since therefore every Chinese can hold Bitcoin as many as they could. Holding Bitcoin is legal in China but only the ICOs that are ban and decleared illegal due to increasing scam projects in which most of them are using Bitcoin platform.

BL46K 7193R

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Yes, it seems to me that it must have a good effect on Bitcoin. And this is really good news for Chinese crypto users. And now they can hold the Bitcoin legally without fear of government. There are so many of its population so much that Bitcoin is very much like this, so good news for Bitcoin is such a good effect. And I think the effect of this is certainly on Bitcoin.

posi

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Quote from: Shova on May 25, 2019, 08:29:19 PM

Quote from: The Cryptovator on May 25, 2019, 04:54:45 AM

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?

Chinese has been using bitcoin and other alts more than anyone in the world. Though trading through bank integration and fiat to crypto exchanges are not allowed, people, merchants and shops are freely accepting cryptos more than anywhere you'll find.

And it's totally legal.
https://mp.weixin.qq.com/s/U_qDgQN9hceLBbpQ13eEdQ

In a situation where people are limited/bound under some certain laws or rule and regulations in using crypto, I won't say crypto currency is totally legal because the crypto traders and holders there won't have the chance to do whatever they like with their Bitcoin.

gentlemand

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Interested to see what happens when the social credit is in full swing supposedly in 2020. If they sniff out you're a crypto fan what effect might that have on your standing? It's going to be so overbearing they could finish crypto off properly there apart from a few fringe nutters.

coin-investor

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Quote from: The Cryptovator on May 25, 2019, 04:54:45 AM

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 word is very conflicting

Quote

The government maintains its ban and there is a very thin line between what is legal and what is illegal.

where does holding Bitcoin borders? Chinese holders should first understand the restrictions because this could turn against him there's still danger holding Bitcoin in that region in my opinion.

CryptoBry

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Quote from: Ucy on May 25, 2019, 03:17:27 PM

Well, the government has no choice. It is hard to prevent or censor this sort of thing. Holding your bitcoin private keys in safe devices or paper wallet should be as safe as writing few numbers on paper or keeping few data in tiny memory card..

While the government's policy on bitcoin is negative, there is no way to stop anyone owning some. This is quite true especially if one really has the money as anybody can just visit Hong Kong for the purpose of making sure that one's portfolio is taken cared of. There is always a way when people have the will even in the face of government's animosity. Now, instead of collecting taxes on these transactions the government gets nothing since the government has the fear of losing control if they open up the country for cryptocurrency.

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