Topic: What if bitcoin is regulated in China? - page 2. (Read 5574 times)

What does it mean "less restrictions and regulations" and where is the difference between the "full legalization" and the "less restrictions and regulations"?
I'm curious to know these detailed concepts and understand the difference between those. Because to me, to tell the truth, seems without meanings all this game with words.

To not tell here that the regulation on itself can be very different from country to country. So can be with "more restrictions" or "less restrictions" being in the same time "full regulation" and "full legalization".

I've seen interviews with various Chinese mine operators. A few are keeping significant amounts and considering the quantities they mine that must add up to plenty. I guess they're sensible enough to not draw attention to themselves unlike some of the Western big shots.

If they do so, Chinese state could then make illegal any other cryptocurrency. Every Chinese exchange would closed and Bitcoin volume would fall, then the price would follow him. A lot of mines would also be closed. This could be benefical to us since difficulty would drop a lot. We would have more Bitcoins but worth cheaper, just like at the beginning. This scenario is a bit extreme, but this could happen in a less-intense way.

What kind of regulations?

There are some that don't allow exchange of BTC for goods and limit how many BTC can be transferred to BTC exchanges, what more now?

yes. I dont understand why people fear of Government regulations. They will regulate it to be Bitcoin friendly if they will not, Bitcoin economy will leave that country and move to other one. Why would any country want that?

because they sell continuosly, but amond the miner there should be someone with plenty of btc, one that run those big farms, even if he make only 10 btc per day, in one year only he have already a good stash

There is no known large holder there.

Disagree. The Chinese people and, above all, their Government are between the most open minds people in the world. Not occasionally China is now one of the most powerful countries in the world and compete only with USA in this direction. 20-30 years ago China was only a poor country nominated as country of third world (between the less importants of the world). Not occasionally China has arrived this status being a country without fully democracy and politically with only one political party. This party hold with violence its status and its position as the only party in this country but this doesn't make it less intelligent in leading this country.

They will understand (or better already know this) that bitcoin is important in the world of technology and could be even in economy and they will regulate it. They see their interest but and mostly the interest of they country and its people. I think that the regulation and legalization (that in fact are the same thing) of bitcoin in China will become reality in the most opportune moment for the country and its people. Chinese are very opportunists and they story testify this. This well known opportunism of them made true the actual status of China. This opportunism will make true, in the right moment for those, even the full regulation of bitcoin.

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With China controlling over 50% of current hashing power, I wonder if there are LARGE Bitcoin holders there.

The uber-rich of China could buy up a lot of Chinese-mined BTC and fairly soon could have a lot of easy to transfer funds (to buy real assets in the West for example).

Anybody know of there are heavy hitters among BTC owners who are Chinese?

Bitcoin will never get regulated in China. The whole Chinese "empire" is built upon control of the state, with Bitcoin they would lose a lot of money (as in controlled by the state money) by giving the power of freedom that Bitcoin is to their citizens, so they will keep it, if not banned, at least somewhat inside a grey area, unless the citizens defeat the goverment regime.

Regulations are good in the sense that it means the coin is getting enough attention to be considered by governments. But it tends to has its counterpart (trying to control it).

And China has a history on controlling.

Regulation can make it acceptable to some main stream applications. Many institutions can only invest in regulated exchanges.

china regulating will open the door to huge amounts of new money flowing into bitcoin without a doubt. Bring it on I say, bring it on!

+1 for Europe and the U.S. Not hating on anyone

The official status of bitcoin in China is "restricted". If you want more explanations see and read in this link here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

i think those chinese people who were interested in bitcoin and wanted to invest in it, have already done it and the rest have invested in mining and are mining currently. if bitcoin get regulated it would only help government keep an eye out on them.
but also it can help more businessmen to start using bitcoin with more confidence and this can help bitcoin grow IMO.

Well they did, and afterwards they took back what they said. China is a major parr of the bitcoin economy, and if in case they completely ban bitcoin-related activities, we‘ll probably see hard times coming.

That's right.Bitcoin has never been deemed illegal in China. Or yet.

China long time ago said that thay will follow USA regulation.If btc will be regulated in China than big chinise bussineses will start to accept btc.Of course price will jump  and will remain more or less stable

Isn't it already regulated?    They block many bitcoin related websites.