Predictions if Chinese Government Changes Their Stance In Next 6 Months - page 2.

fred1111

full member

Activity: 160

Merit: 101

They are not going to ban bictoin now because they don't believe in bitcoin. Once bitcoin reaches 10-100k$, they will start to act.

Here is what the central bank vice governor had to say:

http://stock.sohu.com/20131122/n390574896.shtml (use google translate)

MoonShadow

legendary

Activity: 1708

Merit: 1010

While the inner workings and musing of the Chinese elite are always hidden, and their agenda strange, we do have some evidence that Bitcoin is being left alone by some implicit approval of the elites. Namely that a couple of major Chinese websites, state operations one and all, are openly accepting bitcoins for services and products. They even have a sound reason for doing it. Since the Yaun isn't an international reserve currency, and they can't really snuff it out anyway, open support for Bitcoin could undermine the US dollar's hedgemony without actually breaking the currency for which they have so much invested, and perhaps give the Chinese an edge in some emerging markets for which there is evidence that bitcoins are being used as a System D (grey market) international currency. Particularly in resource rich regions of Africa. The Chinese elite aren't stupid, so they tend to know when something is inevitable; certainly better than most Western elected politicos.

windjc

legendary

Activity: 2156

Merit: 1070

8 months ago my biggest bearish concern was U.S. government and financial regulators.

Today its the Chinese government.

While signs suggest the Chinese government is at least not bearish on BTC, we have to assume that we really don't know and they could at any time put a halt to the Chinese exchanges and even potentially ban BTC.

China is one of the 2 BTC superpowers at this moment. If it goes away in the next 6 months, what happens to BTC?

Topic: Predictions if Chinese Government Changes Their Stance In Next 6 Months - page 2. (Read 2488 times)