Topic: Will China Accept Bitcoin As A Currency? - page 10. (Read 3219 times)
One of the options that is thought to be the creator of the Satoshi character, and therefore the creator of Bitcoin, is China, why not? I think it is not surprising that China has made an earlier move in this field as it has moved from being a rising power to the throne of America.
Never, China have closed their opportunity for accepting bitcoin as their transaction payment, last three years bitcoin become popular in China but after banned many companies using crypto in China have closed.
china accepted bitcoin as commodity same like silver and copper and gold rather than currency
Don't mistake a country being more lenient on their practices as the actually changing their views about the product. Take China's recent moves with a grain of salt, not everything is as it seems.
They are extremely autocratic and are very, very controlling in their practices - especially when it comes to new technology, internet usage, western influence (take a look at the firewall's China has set up).
In my opinion, I think it's because it's due to them possibly making their own way into crypto markets. There has been talking about them making their own crypto centralised coin.
They are extremely autocratic and are very, very controlling in their practices - especially when it comes to new technology, internet usage, western influence (take a look at the firewall's China has set up).
In my opinion, I think it's because it's due to them possibly making their own way into crypto markets. There has been talking about them making their own crypto centralised coin.
Countries in the world who have come in contact with Bitcoin love the coin but will not be interested to make it their official currency as that might affect their internal financial economy. Bitcoin will the reserve currency I presumed because many other countries will like to have and adopt their own cryptocurrency for internal uses. China will definitely have their government coin or token to be adopted through Bitcoin.
The people who uses bitcoin will support the cryptocurrency and I think that factor can reduce the circulation of the real or the fiat money since the money in cryptocurrency is revolving around the digital world but I still believe that they will accept the bitcoin in their country .
China in bitcoin industry is pretty big and many big investors of bitcoin in different industry from trading to mining lives there.China accepting bitcoin as a currency will happen sooner or later after few years maybe.China is developing now for sure they will accept bitcoin as currency
It's not a normal issue for the Chinese government, they are the most autocratic form of government among some countries and they are on the front line at the financial, industrial and any other arena, so China is passing the most crucial time ever they faced. So thinking or taking a decision for the favour of Bitcoin is not a good thing for them right now, Basically, China government always try to impose on their people what they think is right that's why Bitcoin is also a form of the monetary platform which could be a reason of financial crisis, so I think like a hard-line country, they will not accept Bitcoin as a currency near future.
China is appearing to soften its stance on cryptocurrencies as of late
"In an unexpected move, a major Chinese state bank has posted what appears to be a positive infographic on its website detailing the history of Bitcoin and some basic cryptocurrency concepts. The infographic notes the impressive gains that Bitcoin has benefitted from recently and appears to address the relevance of cryptocurrency in today’s world.
Leading crypto payment gateway Coinpayments recently formed a partnership with directory listing site Cryptwerk, in a move that will no doubt help increase adoption within the industry. In the press release regarding the partnership, Sean Mackay from Operations at Coinpayments raised an interesting point when he said that “It’s important to remember to not just hodl your crypto, but also to spend it to help increase adoption. Since the crypto space is still early days, spending and transferring cryptocurrency has never been so important!”
Trading of Bitcoin and cryptocurrencies in China has been illegal since the country banned Bitcoin exchanges back in 2017. While the ban forced some exchanges to move their operations to other countries, it is believed that millions of Chinese citizens still trade cryptocurrencies through subversive means. Although trading is banned, mining cryptocurrency in the country is still legal, and it is estimated that 60 percent of all Bitcoin’s hash power comes from China.
The change follows a recent legal ruling by China’s Hangzhou Internet Court that classified Bitcoin as a commodity that should be considered ‘digital property.’ While the ruling didn’t go so far as to give it a ‘legal currency’ status, the recognition by an authoritative body is evidence of changing mindsets within the country."
This brings the question of will china accept cryptocurrency as a currency or will it just stop its level of support at accepting it as a commodity [/font]
-source : https://cryptocurrencynews.com/china-stance-cryptocurrency/
"In an unexpected move, a major Chinese state bank has posted what appears to be a positive infographic on its website detailing the history of Bitcoin and some basic cryptocurrency concepts. The infographic notes the impressive gains that Bitcoin has benefitted from recently and appears to address the relevance of cryptocurrency in today’s world.
Leading crypto payment gateway Coinpayments recently formed a partnership with directory listing site Cryptwerk, in a move that will no doubt help increase adoption within the industry. In the press release regarding the partnership, Sean Mackay from Operations at Coinpayments raised an interesting point when he said that “It’s important to remember to not just hodl your crypto, but also to spend it to help increase adoption. Since the crypto space is still early days, spending and transferring cryptocurrency has never been so important!”
Trading of Bitcoin and cryptocurrencies in China has been illegal since the country banned Bitcoin exchanges back in 2017. While the ban forced some exchanges to move their operations to other countries, it is believed that millions of Chinese citizens still trade cryptocurrencies through subversive means. Although trading is banned, mining cryptocurrency in the country is still legal, and it is estimated that 60 percent of all Bitcoin’s hash power comes from China.
The change follows a recent legal ruling by China’s Hangzhou Internet Court that classified Bitcoin as a commodity that should be considered ‘digital property.’ While the ruling didn’t go so far as to give it a ‘legal currency’ status, the recognition by an authoritative body is evidence of changing mindsets within the country."
This brings the question of will china accept cryptocurrency as a currency or will it just stop its level of support at accepting it as a commodity [/font]
-source : https://cryptocurrencynews.com/china-stance-cryptocurrency/
China has banned bitcoins number of time but i am sure they will make it legalize one day.
China will be the biggest market for the crypto currencies.
It's not a normal issue for the Chinese government, they are the most autocratic form of government among some countries and they are on the front line at the financial, industrial and any other arena, so China is passing the most crucial time ever they faced. So thinking or taking a decision for the favour of Bitcoin is not a good thing for them right now, Basically, China government always try to impose on their people what they think is right that's why Bitcoin is also a form of the monetary platform which could be a reason of financial crisis, so I think like a hard-line country, they will not accept Bitcoin near future.
I don't really think China will accept Bitcoin as a currency looking at how things are done in the country. But considering the idea of decentralization where everything is made public to everybody on the entire network, there are some possibilities that China might consider Bitcoin as a currency, since the government of China are into the idea of knowing whatever people are doing on the internet at all time. This is just my assumption.
Never. And Russia neither.
I guess it can be possible next 10-20 years coz they can't prevent evolution
We don't have any ideas about the future but being positive can help us to be happy. I guess, in the future china will accept Bitcoin as a currency if they realized that Bitcoin is very good and useful to many people and can help to their country.
maybe or maybe not, we can't tell the future. However, China's electricity cost is so low that many Chinese citizens have made lots of money, because mining is more profitable with or electricity costs. However, I have heard that they stopped allowing mining. Maybe the government doesn't want citizens to have this control.
no. it is not gonna happen. why? because in this case China will not control emission of bitcoin. actually it counts for every country, not only China.
so if the government can't control emission of money - they would not accept it. Cause if they will accept it, throug incotrolled emission open a lot of ways to manipulate the value, amount of money and etc..
you can for yourself how huge are waves of bitcoin..
so if the government can't control emission of money - they would not accept it. Cause if they will accept it, throug incotrolled emission open a lot of ways to manipulate the value, amount of money and etc..
you can for yourself how huge are waves of bitcoin..
I believe so, maybe a few more years. China is leading the entire world in 5G technology and accepting bitcoin is not impossible at all. It will be revolutionary that many nation that does not accept bitcoin as it is will follow to China's decision when the time comes.
China is somewhere in the middle when it come to accepting bitcoin
as a currency, infact china not the government is using bitcoin a currency
the banned that is happening in china is a very big task for the government to be stop
because some traders are using other exchanges that china has no control
and trading continues china government i think only concern why they are not sure if they will whole heartedly accept bitcoins
is because its being use by people for i think illegal transactions for money laundering
which china don't want to happen but i think there is no way for china to stop bitcoin and they really need to accept the fact
that they can't stop it, they can just regulate the use of bitcoin that all they can do ,
as a currency, infact china not the government is using bitcoin a currency
the banned that is happening in china is a very big task for the government to be stop
because some traders are using other exchanges that china has no control
and trading continues china government i think only concern why they are not sure if they will whole heartedly accept bitcoins
is because its being use by people for i think illegal transactions for money laundering
which china don't want to happen but i think there is no way for china to stop bitcoin and they really need to accept the fact
that they can't stop it, they can just regulate the use of bitcoin that all they can do ,
I think it will happen and probably soon. China is developing very fast and is ready to adopt new technologies
click here to get easy https://www.match365.com/r/vghyhz I'm not sure it matters much if btc is ever accepted as a currency. I mean gold isn't really accepted as a currency (though it is technically defined as one), you can't go to the store and buy a load of groceries with it in any developed country.
Gold in any country is still gold. and has a value that is recognized legally in almost all countries. so compared to crypto it's actually very different. because crypto is itself a digital asset. and whether digital assets will lead the currency later? i dont think so. but the era will always change . when era of technology its dominant i believe that will happen one day is possible.
China has the world's most population. where there is population surge there is economic cut throat competition. China has still a lots of people who are using the Bitcoins illegally.
Forget America and Europe , if things are transparent not through VPN then you will realize the Chinese people tend to show there love on dark market buying weeds and other stuffs. I personally have few relatives in China and this is what they all say.
The government of China is always against from something that will threaten their economy, they will counter any possibilities if they are not sure about actual control of any system that will be introduced. As you said there's a lots of chinese people who continuously use Bitcoin or crypto into illegal things like illegal gambling or trading together with drug related transactions.Forget America and Europe , if things are transparent not through VPN then you will realize the Chinese people tend to show there love on dark market buying weeds and other stuffs. I personally have few relatives in China and this is what they all say.
Where this question comes from? One positive announcement from one of their banks and they are accepting Bitcoin as currency? After years of bans, investigations, and many negative reactions of their government towards cryptocurrencies. I don`t believe they will accept Bitcoin as a currency, ever. Maybe they will legalize cryptocurrencies, but they will have their own main currency.
Chinese people are using crypto generally, they have some serious mining groups there. But the government and laws are something else. We can say the same thing for drugs all over the world, many people use it, but it`s not legal, that doesn`t mean that drugs will be legalized one day.
Jump to: