Topic: Chinese - Clamp down eventually on BTC or is it a "Hedge a Money" against USD? (Read 375 times)

Think about it in respect of the Chinese government's other actions as regards non-fiat currencies: the recently instituted Shanghai Gold price fix. The Chinese government are behaving with caution with respect to the likely dominance/price peak of USD/US treasury bonds. Dollars and the bonds that created those dollars have been amongst the most liquid assets available for decades and decades, and that can't last. China has the major resources to manoeuvre around the issue, and it's apparently required from their perspective, as they are basically frozen out of the decision making process for the big inter-mafia monetary institutions.

If the Chinese really did want to pile in, and 2013 was but a blip when you take their numbers into account, I think it's borderline inevitable that the government would do something to strangle the exchanges. They did then and no doubt would do it again. That being the case I think it would be a lot healthier if they did it considerably sooner rather than later.

Yes, they most certainly have. It seems like at first they indeed just wanted to slow things down. Again, I don't think they want to come right out and ban stuff - that is bad in multiple ways (e.g. their image, it attracts more attention, etc.)

True, Bitcoin is teeny tiny, but how long do any of you think it would take to get to a Trillion dollar market cap? I don't think it would be that long once the supply starts to dry up (both with the halving and just holding). I think we will see a 100 billion dollar market cap in the next 3-5 years, but a lot of that depends on the global situation. I could see a Trillion in 10 years. This is NOT going to be linear growth and there are variables at play that we are just starting to realize.

So, imagine they "take" her to a trillion in market cap in 5 years, with 15 million coins out there (much less due to loss and such) that is price of near $70,000. I just don't think that is crazy for what is sort of analogous to a "stock" with 15 million shares and with a world of uses, oh, but it is one of the only "stocks" like it in the world.

Oh, and it would be great if Satoshi appears around that time and sends micro payments to poor areas of the world, just spreading global wealth.

Honestly, I DON'T think we CAN understand what this is before our feet.

Its about sharing

The Chinese government has been blowing hot, then cold on Bitcoin for years. Nobody can work out what's going on in their minds. With a 10 billion dollar market capitalisation Bitcoin's small change to the Chinese government. In 2015 it was estimated that one trillion dollars was moved out of China. Bitcoin's not big enough to move that much money.

http://www.bloomberg.com/news/articles/2016-01-25/china-capital-outflows-climb-to-estimated-1-trillion-in-2015

What is going on in the minds of the Chinese government? Why are they "allowing" Bitcoin to grow and grow? If they are trying to control capital flow, then why not make it difficult to put money into Bitcoin? Of course they don't want to attract more attention to Bitcoin so they wouldn't outright name/ban it imo but they seem to be doing nothing since the early talks over a year ago.

Of note and a bit interesting, this guy Cliff High predicts millions of Chinese wanting into Bitcoin this year using web bots (complicated to explain but if nothing else, fun to follow)! lol. He did call this current move up months ago. Mentioned in this summary report from a YouTuber https://www.youtube.com/watch?v=Agi4kug7UJA Related, What is going to happen when even a small country starts getting its reserves of Bitcoin???

On the flip side, is allowing all the Chinese money into Bitcoin not a GREAT hedge against the Hegemony of the USD?
I mean if they inflate the price of Bitcoin with their inflated Juan and they control a large amount of Bitcoin, isn't that a great tool to hold value for the country (or anyone for that matter)?

Its About Sharing