Topic: Do you think China is playing a double game? - page 2. (Read 676 times)

They might be, however, China's President Xi has already mentioned some years ago that he wants China to become a leader on different internet technologies including blockchain. Hong Kong might only be the beginning and to test different regulations and observe what they can use in IT economic zones of Shanghai.

This news was published on 2019.



Xi Jinping, President of the People’s Republic of China and General Secretary of the Communist Party of China, said the country needs to “seize the opportunity” afforded by blockchain technology.
Speaking as part of the 18th collective study of the Political Bureau of the Central Committee on Thursday in Beijing, Xi said blockchain technology has a wide array of applications within China, listing topics ranging from financing businesses to mass transit and poverty alleviation.

Source https://www.coindesk.com/markets/2019/10/25/president-xi-says-china-should-seize-opportunity-to-adopt-blockchain/

It's difficult to say for sure what China's intentions are with regards to cryptocurrency, but it's possible that they are testing the waters in order to regulate it or take advantage of the current situation in the US. However, it's important to note that China has a history of cracking down on cryptocurrency and has previously banned both trading and mining, so their recent actions could also be seen as contradictory. As for the situation in Hong Kong, it's true that the region has become increasingly under China's control, but it's unclear how much influence they will have over its cryptocurrency industry. Ultimately, only time will tell what China's long-term strategy is with regards to cryptocurrency.

I'm not exactly sure what China is doing as they want to fight with this situation, they're just making a good example of them that will really be a big help for bitcoin and cryptos because they don't want to let this situation happen to their countries.

China never liked things getting out of their control, they need to be in power, and thats why they ban crypto mining first, if truly they plan to support crypto from now on they might come up with a fair rules for crypto miners in China, I think if China can be more opened to a centralized way of embracing crypto and also CBDC side by side it will be cool and other countries will learn from this.

I feel like they are just staying in the middle and that is a smart move that many should have taken. I mean I understand that Ukraine wouldn't have been able to fend off Russia without help of anyone else, but lets assume that Europe defends Ukraine, then USA shouldn't, or if USA does then EU shouldn't, or if one nation does the other shouldn't. There is no nation openly working with Russia right now, but there are so many with Ukraine.

Even though I believe Ukraine is 100% right to join EU if they want to, and Nato is something that can be accepting them or not based on merit, and not what Russia says. But also as someone who lives in a nation that has nothing to do with this, absolutely far away and we didn't say a single word about it, I just worry about the costs that will result, not just financially but what if nukes starts? That scares me a lot.

The cryptocurrency market can not be stopped by a particular country, but rather a smart game of playing panic for market to dump, because Bitcoin don't like negativity talk, mostly the countries that has a strong economy in world, by using the power to play a game, while Market get dip and taken the advantage of buying entry point for future holding.

The recent developments in China regarding cryptocurrency regulations have been somewhat contradictory and puzzling. While China has cracked down on cryptocurrency trading and mining in the past, it has also been exploring the potential of blockchain technology and its own digital currency, the digital yuan.

The recent announcement that Hong Kong will be allowed to become a hub for cryptocurrency is indeed interesting, and could potentially be an attempt by China to capitalize on the growing interest in cryptocurrencies and blockchain technology while maintaining some control over the market. It's worth noting that Hong Kong has long been an important financial hub, and it's possible that China sees an opportunity to leverage that position in the growing cryptocurrency market.

At the same time, it's important to remember that China is known for tightly controlling its economy and financial markets, and it's unlikely that it would allow a completely unregulated cryptocurrency market to thrive within its borders. It's possible that China is simply testing the waters and exploring the potential for regulating cryptocurrency within its own borders.

Ultimately, it's hard to say exactly what China's intentions are with regards to cryptocurrency. However, it's clear that cryptocurrencies are becoming increasingly important and influential in the global economy, and China will need to find a way to navigate this emerging market while maintaining its control over its own financial system

China always plays double standards both in the political and economic ecosystem. They have not openly criticized Putin for invading Ukraine and they are not also supporting Ukraine. They don't want to lose the benefits of their trading with the West so they support Russia secretly, while they are also pretending to promote peace. Hong Kong is its economic lab where China experiments with Western economic and political policies (capitalism). While mainland China is used for the implementation of socialist and authoritarian policies. China doesn't want to lose the benefits many nations are deriving from cryptocurrencies so Hong Kong serves as the avenue to get those benefits.

whether China is deliberately taking advantage of the negative crypto situation in the US or just experimenting to find an optimal regulatory strategy I think is still in the dark. what is certain is that China's economic growth is increasing and there are various factors that contribute to its rapid growth, including policies that encourage investment and trade, a focus on education and innovation, as well as a large workforce. If i see China has taken steps to limit the use of cryptocurrencies within its borders and is actively working towards developing its own digital currency.

No doubt china is the 2nd largest world economy but the attitude of China towards cryptocurrencies, such as Bitcoin and other altcoins has changed over time. They initially outlawed cryptocurrency mining and trading, but they've since expressed an interest in regulating the industry and using cryptocurrencies to advance their own financial objectives. China may have changed its mind after the scenario in Hong Kong where big institution bank have publicly stated their support for cryptocurrencies. The exact scope of China shifting stance on cryptocurrencies ramifications for the US and its allies though is uncertain and vulnerable to change.

They banning the bitcoin so their CBDC can roll out and they dont want to take the risk when the crypto become mainstream till payment there although you was right they push Hongkong which is special region and small country to adopt crypto I think this for experiment if in the Hongkong Succedd they migh lift the ban on the mainland china

Greed has always been the center of China ever since. So I should never doubt if this is just part of their game plan. Maybe they’re up to something new why they let Hong Kong become crypto friendly when all they want to promote is their own digital currency Yuan. If I’m not mistaken, they plan to get back with crypto again since Yuan never get the success they want. So by deceiving other countries like USA, who is anti crypto yet they allow crypto operations, they will come to believe them that crypto has no place in their country and should be banned permanently.

Very true the crypto world is way smaller as painted. Too easy to open a wallet.
Than forget about it and make a new one.

China is giving itself an option to use Bitcoin if it will need to. I think its biggest concern was that Bitcoin will be used for capital flight, which led to ban, but if they only allow Bitcoin in Hong Kong, it's not a problem for them, because Hong Kong is a special economic zone.

And I doubt that China banned Bitcoin because it didn't want it to compete with its digital currency. Digital yuan is there to consolidate government control over fiat payment systems.

Honestly, it can be difficult to understand the mindset of the Chinese people. I'm curious why China seems to be lagging behind the US in terms of allowing its citizens to use Bitcoin. It seems that they have realized that they shouldn't fall behind the US because Bitcoin is the most up-to-date and secure technology in the world of cryptocurrency. By banning Bitcoin, they are distancing themselves from those who accept it. Nonetheless, China is likely more aware of their own motives and reasoning for their actions.

China has tried out several projects inorder to stay ahead of the U.S economy. It is hardly unbelievable that they do not have a game plan. It is quite clear. Bitcoin and cryptocurrencies in total has opened the eyes of many and its possibilities is numerous.
They might have tried crypto in order to understand the Blockchain system better, and also to find loopholes with which it could control, monitor and dominate the crypto space, before America does so and thereby control the world economy once again.
Also, It could be to monitor monetary transactions that could be payment to terrorist or hackers/scammers, mostly now when the world is on a brink of war.

China had been playing double game not only in cryptocurrency but in occupying other territories as well.  They do not honor the United Nations Convention on the Law of the Sea if they are too occupy other territory but apply it against Japan when Japan occupy theirs.  So it is normal to think that China is playing a double game.  They will use any means that will gain them an advantage and disregard it if will put them at a disadvantage.

About the cryptocurrency status in HongKong, as far as I know HongKong has its own government, so I do not think that the Chinese government has something to do with the friendly attitude of Hongkong government to cryptocurrency.

AFAIK, HK is still on the phase of making their economy great again and that's why it's either them or Singapore should be the hub in Asia right now for crypto people and companies.

They are removing that restriction and being soft and smooth for these policies because they want to enjoy how it looks like being soft with such policies that will help their economy to keep up.

While they're in that region, they can keep and change policies but in mainland, they're always tough and yes, they're playing the game of what's with the world economy now. Thus, being open with crypto is a good policy that they're trying to test the waters.

No doubt. I mean, there’s nothing new about China, everything they did was part of their hidden agenda. Now, US and other countries have been showing inequality to crypto too, same what China has did in the first place. But I believe when all these countries will hate crypto and lost all the advantages, China will enter again and grab the chances and advantages that crypto can offer. So it will be a loss for those countries who have doubted crypto, and China will be the last country standing ready to own crypto finally.

China plays the game of allow and watch.
They have done so in joint ventures, with Bitcoin trading and mining.

And now they allow Cryptotraders to act from HK's soil. In 10 years or less they'll have enough data to decide what to do.