Superwallet + China = Moon? | Bitcointalksearch.org

lay785

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Quote from: nikona on April 22, 2015, 02:30:38 PM

Quote from: ?? on ??

Quote from: nikona on April 22, 2015, 02:23:33 PM

The concept of Superwallet and bitcoin would have been the most perfect if there wasn't much volatility , or maybe if bitcoin was of a constant price. But the idea does seem interesting, will wait for the consumer version to come out.

Why would volatility have any issue with an auto convert wallet?

So firstly, I am not sure why a merchant usually accepts bitcoin as a payment method. If its for an added payment method, then since at the point-of-sale the consumer is basically converting his Fiat to BTC, the merchant might just request for Fiat directly if its a possibility, instead of accepting bitcoin as a lot of merchants I know(not the big ones), like a couple of friends, who accepted bitcoin at a local pub, had the bitcoin during the downride, and now are not sure if they wish to still accept it specially due to the price volatility that comes along with it.

Lets say you travel overseas and dont have local currency.

This would actually be amazing for such a situation.

Also I would hope that there would be discounts offered to people who pay via this method since there wont be any credit card fees or risk of payments getting reversed.

techgeek

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All this ban bitcoin in china is more a PR price move, and most of those news were told again a couple years back.

Look what they are doing now again?

My friends in china and he talks about bitcoin all the time there, it aint being banned anytime soon esp when they tried to advertise it on T.V for people to use.

trotter55

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Quote from: minerpumpkin on April 24, 2015, 12:23:33 PM

Quote from: AtheistAKASaneBrain on April 24, 2015, 07:34:41 AM

Quote from: nextblast on April 23, 2015, 09:39:07 AM

I am also a native Chinese. I don't agree those saying China ever "banned" bitcoin. It is pure FUD.
If China truely "banned" btc as they said, why does this country hold largest coin trading volumn and owns biggest mines and hash rate?

Gov only said it is not a currency issued by the country, and investment should only be made with caution due to volatility.
Banks are, however, very negative towards cryto currency related business.
This is understandable because bitcoin is by defination MONEY WITHOUT BANKS.

So, BTC is deemed as normal goods by the government.
Nobody is arrested for owning or trading btc in China.

In fact there are quite a lot of creative and hard working people trying to innovate with bitcoin technology. OKLink is just an example.

Well that must suck. If they see BTC as goods and not as a foreign currency it just means you are forced to pay VAT for conversions. They should learn from Spain and make it VAT-free.

The way people interpret the Chinese regulations changes every day, I believe. I also think that the Spanish or also German approach to taxing and classifying Bitcoin is the best way to go. But maybe some governments don't actually want to help Bitcoin but rather want to keep it down or destroy it?(!)

The European banks seem more interested in destroying bitcoin than the governments. They often close bitcoiner's accounts without giving any reason. It demonstrates how anti-bitcoin the banks are.

Mrpumperitis

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Quote from: minerpumpkin on April 23, 2015, 05:11:13 PM

This is a good initiative. We need to try out as many technologies as possible in order to find out which ones really make sense and which don't. This is another example where BTC is being used as a backbone technology and not a currency per se, I believe there will be many other experiments like this.

https://bitcointalksearch.org/topic/ann-crave-1st-pos-masternodes-dark-assets-i2p-market-embrace-the-dark-997356 made by ICM , prob the best crypto dev ive seen in years Shocked

tokeweed

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Amph

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Quote from: Icardi09 on April 24, 2015, 07:07:56 AM

I don't think this superwallet project will make big impact on bitcoin price
especially if tht wallet only good for Chinese people
but this one is good project for bitcoin

if they are smart enough they should provide a translation for it, and making it good for china only will bring anyway a crazy adoption because they are many there

anyway if they can provide an in-build conversion witht the wallet, i would be happy(it seems so by the article), so you don't need to use any exchange

minerpumpkin

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Quote from: AtheistAKASaneBrain on April 24, 2015, 07:34:41 AM

Quote from: nextblast on April 23, 2015, 09:39:07 AM

I am also a native Chinese. I don't agree those saying China ever "banned" bitcoin. It is pure FUD.
If China truely "banned" btc as they said, why does this country hold largest coin trading volumn and owns biggest mines and hash rate?

Gov only said it is not a currency issued by the country, and investment should only be made with caution due to volatility.
Banks are, however, very negative towards cryto currency related business.
This is understandable because bitcoin is by defination MONEY WITHOUT BANKS.

So, BTC is deemed as normal goods by the government.
Nobody is arrested for owning or trading btc in China.

In fact there are quite a lot of creative and hard working people trying to innovate with bitcoin technology. OKLink is just an example.

Well that must suck. If they see BTC as goods and not as a foreign currency it just means you are forced to pay VAT for conversions. They should learn from Spain and make it VAT-free.

The way people interpret the Chinese regulations changes every day, I believe. I also think that the Spanish or also German approach to taxing and classifying Bitcoin is the best way to go. But maybe some governments don't actually want to help Bitcoin but rather want to keep it down or destroy it?(!)

AtheistAKASaneBrain

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Quote from: nextblast on April 23, 2015, 09:39:07 AM

I am also a native Chinese. I don't agree those saying China ever "banned" bitcoin. It is pure FUD.
If China truely "banned" btc as they said, why does this country hold largest coin trading volumn and owns biggest mines and hash rate?

Gov only said it is not a currency issued by the country, and investment should only be made with caution due to volatility.
Banks are, however, very negative towards cryto currency related business.
This is understandable because bitcoin is by defination MONEY WITHOUT BANKS.

So, BTC is deemed as normal goods by the government.
Nobody is arrested for owning or trading btc in China.

In fact there are quite a lot of creative and hard working people trying to innovate with bitcoin technology. OKLink is just an example.

Well that must suck. If they see BTC as goods and not as a foreign currency it just means you are forced to pay VAT for conversions. They should learn from Spain and make it VAT-free.

Icardi09

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I don't think this superwallet project will make big impact on bitcoin price
especially if tht wallet only good for Chinese people
but this one is good project for bitcoin

minerpumpkin

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A pumpkin mines 27 hours a night

This is a good initiative. We need to try out as many technologies as possible in order to find out which ones really make sense and which don't. This is another example where BTC is being used as a backbone technology and not a currency per se, I believe there will be many other experiments like this.

ensurance982

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Quote from: 1Referee on April 23, 2015, 04:11:19 PM

Can't see this "Super Wallet" having a significant impact on the price, if any. I'm sure it will be useful for some people, but it's not big enough.

Well, it is just another technology and another piece of software that may be useful for using BTC. We have to wait and see whether this proves to be of any use and facilitates transferring BTC instead of holding them in a regular wallet. I find the aspect of it being integrated into the exchange very interesting.

1Referee

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Can't see this "Super Wallet" having a significant impact on the price, if any. I'm sure it will be useful for some people, but it's not big enough.

ensurance982

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Trust me!

This is very interesting in so far as a lot of people prefer to spend some coins when they buy something. They do this in order to support BTC and encourage other merchants to accept BTC as well. This reminds me of that integration project that one German online bank is trying at the moment. What was the name again?

nextblast

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I am also a native Chinese. I don't agree those saying China ever "banned" bitcoin. It is pure FUD.
If China truely "banned" btc as they said, why does this country hold largest coin trading volumn and owns biggest mines and hash rate?

Gov only said it is not a currency issued by the country, and investment should only be made with caution due to volatility.
Banks are, however, very negative towards cryto currency related business.
This is understandable because bitcoin is by defination MONEY WITHOUT BANKS.

So, BTC is deemed as normal goods by the government.
Nobody is arrested for owning or trading btc in China.

In fact there are quite a lot of creative and hard working people trying to innovate with bitcoin technology. OKLink is just an example.

shulio

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Quote from: ?? on ??

Most people in china use bitcoin for mining & investment only
And China has banned bitcoin

Also, volatility is the next problem
People could lost a lot of money

So, Superwallet + China = fail

Investment? no you are very wrong in this. Chinese is well known as a trader across any country since hundreds years ago and it is still now. It seems like bitcoin there only serves the purposes as a tool for trading to gain more profit, not as investment as there are better investment in there

fox19891989

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Quote from: Amph on April 23, 2015, 01:08:36 AM

Quote from: jonald_fyookball on April 22, 2015, 10:04:21 PM

Quote from: Ingatqhvq on April 22, 2015, 09:47:10 PM

Don't forget China has banned bitcoin as a payment ways. So there is no way make a merchant accepts bitcoin as a payment method in China, it's just forbidden.

I wasn't aware of this. Do you have a reference?

they banned the trading only(the exchange) not the bitcoin itself, despite this there are still numerous traders there

we can say that is semi-banned

Yes. It is semi-banned. But trading is not banned, China bans fiat deposit to exchanges, but exchange have new ways to deposit.

And China bans bitcoin as a payment way, can't directly buy goods from the markets.

fox19891989

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Quote from: jonald_fyookball on April 22, 2015, 10:04:21 PM

Quote from: Ingatqhvq on April 22, 2015, 09:47:10 PM

Don't forget China has banned bitcoin as a payment ways. So there is no way make a merchant accepts bitcoin as a payment method in China, it's just forbidden.

I wasn't aware of this. Do you have a reference?

It is confirmed, I am a Chinese, I have Chinese reference, I can show you the link of this annoucement. http://www.gov.cn/gzdt/2013-12/05/content_2542751.htm

It is a long passage so I can't translate for you here, but you can use google translate.

A key sentence I can translate English for you: 比特币是一种特定的虚拟商品，不具有与货币等同的法律地位，不能且不应作为货币在市场上流通使用。 - bitcoin is a specific virtual goods, does not have legal status of fiat currency, can not and should not be used as currency in circulation in the market.

So Ingatqhvq is correct, China bans bitcoin as a payment way.

Amph

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Quote from: jonald_fyookball on April 22, 2015, 10:04:21 PM

Quote from: Ingatqhvq on April 22, 2015, 09:47:10 PM

Don't forget China has banned bitcoin as a payment ways. So there is no way make a merchant accepts bitcoin as a payment method in China, it's just forbidden.

I wasn't aware of this. Do you have a reference?

they banned the trading only(the exchange) not the bitcoin itself, despite this there are still numerous traders there

we can say that is semi-banned

Kprawn

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Quote from: Ingatqhvq on April 22, 2015, 09:47:10 PM

Don't forget China has banned bitcoin as a payment ways. So there is no way make a merchant accepts bitcoin as a payment method in China, it's just forbidden.

Not sure if this is accurate.... Wink

What I do know is, China has a obsession to control it's people... and by linking the Bitcoin address with a persons bank account, would identify him/her to the government. This will be more acceptable for them, if Bitcoin had less annonymity.

It goes against the principles of the general use of Bitcoin, but it enables more people to use it. {So for them, it's a WIN-WIN situation}

It's the same with Coinbase and Circle .... The USA will allow people to use it, just as long as they adhere to all the KYC/AML regulations. {Nothing new here}

jonald_fyookball

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Quote from: Ingatqhvq on April 22, 2015, 09:47:10 PM

Don't forget China has banned bitcoin as a payment ways. So there is no way make a merchant accepts bitcoin as a payment method in China, it's just forbidden.

I wasn't aware of this. Do you have a reference?

Topic: Superwallet + China = Moon? (Read 1833 times)