Topic: Will China Accept Bitcoin As A Currency? - page 6. (Read 3236 times)

China's president also praised blockchain technology, but they did not claim that they would accept Bitcoin in their country. I saw some news saying that China's Central Bank is preparing to launch its own cryptocurrency. So I think they will never accept Bitcoin, they will even ban it forever in the future

Even there are floating news regarding chinese government deny to be involved into legalizing crypto they are just seeking the blockchain technology and trying to take advantage of it. But, peolpe being over optimistic they thought that the china government will legalize crypto which is not true.

They haven't do it yet but some interest flows around after the President made an statement regarding to blockchain. Not a confirmation but can be use as a hint if they will sooner accept bitcoin as a currency, There's still many doubts about their position as they are not giving any statement in regards to bitcoin itself. The last time I've read is about chasing those illegal activities who caters cryptocurrencies.

I think they will do it. China wants to be leading in everything and want to be the first. So I guess accepting Bitcoin as a currency os not impossible to China since they support it now. This is a good move for them because all the money that they have invested on it will have exponential growth if Bitcoin starts to kick up!

I think it will take long to convince the chinese government to accept bitcoin as a currency because they are starting to launch their own coin like Facebook's Libra coin, so they might be using their own coin instead of bitcoin, that is why china only legalized blockchain technology not bitcoin.

DC/EP   
DigitalCurrency/ElectronicPayment
DCEP is essentially no different from today's fiat currencies. It's completely different from Bitcoin's mission.
From the perspective of ordinary people, DCEP is more like electronic "cash", which meets the needs of anonymity, functions that credit cards and mobile payments cannot.

I don't think China will accept bitcoin as a currency because China is a big and strong country and we know that China can always make its own technology. Even though yesterday the Chinese president stated supporting blockchain does not mean the Chinese government will legalize bitcoin. the Chinese government will not like decentralized and anonymous bitcoin. I heard that China will make its own crypto whose project is named DHCP.

It would not matter at all. Bitcoin is decentralized. And it would work until people would have trust on it.
China as a nation too would work until larger number of people would have trust on it. And the latest development are suggesting the age of China as a country could be lesser than Bitcoin as a currency.

I largely doubt that China is going to accept bitcoin as a currency. They might leave its status unidentified but making it a legal tender is far from the reality.

China which dont even allow foreign websites to run over their network would not make something globally accepted and can be globally manipulated a legal tender in their country.  As happened during the end of third quarter, china will embrace blockchain tech but the bitcoin.

Pure little delusional soul.

Really China accept the Bitcoin and other cryptocurrency
In around the world China can have 65 percent hash rate available. China can adopt Bitcoin faster. All the bitcoin Miner are located in china.

Indeed, they don't pay any attention to bitcoin as they focus more on the blockchain technology as they create their own crypto that they will be using in their country. They don't support bitcoin, but the technology behind it. They will use the technology to achieve more power and control onto their country when it comes to cryptocurrency, it is a counterpart of bitcoin in their country to regulate the crypto users.

China isn't going to accept bitcoin as a currency as it opposes what China is trying to impose i.e. Centralization and censorship. China controls everything that its citizens do and see online. If China was going to accept bitcoin then it shouldn't have banned it in the first place, which done already they aren't gonna revert back the decision.

ut last week China president want to adopt blockchain as legal currency payment and have announce to public about how interested by China president with bitcoin and altcoin as currency payment, but why get both news have the opposite mean with China president want adopt bitcoin and there are have side with China want to banned bitcoin as transaction, which one is true?

Not only that, China has been working on creating its own cryptocurrency for several years, which (probably) is to be publicly exposed this month. So why they should accept Bitcoin and create competition for their own coin..?! Ofcourse they will never do that!

When bitcoin jumps, something bad just occurred in the U.S./China trade speaks. We do not understand what it's, but in no time we are going to find out.

Well now we are a Trump tweet and up BTC surely goes once again. Yesterday, what occurred? I guess anything it was that made bitcoin pop, also left the U.S. president more incandescent than normal.

This's nevertheless a theory, but it helps to keep on playing out. And so how to proceed? In the very short term the real question is, is the China circumstances going to continue for extended?

Continuation of the trade war means BTC up. The further the war operates, the greater bitcoin will go.

For me it is very likely that the trade war will run and run. Both sides cannot buckle and like other wars, sides are ready to have huge losses, not to drop. What this means is holding by way of a a rollercoaster ride of innovations.

If we're in for a trade war of attrition, bitcoin is going to be above £20,000 by Christmas or even sooner.

What we also have right here if this particular theory is right is a present to the additional greedy. When bitcoin flies, short the Dow, because when BTC flies, for no obvious purpose, it's a high likelihood that something Dow slapping may come out of the trade battle in one day or even two's time. While info could flow slower in the U.S., whatever fails will nevertheless hit the U.S. equities industry in time, but meanwhile the terrible news will reach the Asia bitcoin market a lot earlier, about so long as needed for all the individuals to escape the conferences of theirs and past the revolving doors. read more here....

maybe there are other reason about banning those website and this nothing to do about bitcoin issue.

https://cointelegraph.com/news/bullish-for-bitcoin-china-scraps-plans-to-ban-cryptocurrency-mining?fbclid=IwAR1CKfWVcY83KMoap-DcMHfwtgSgmVABaibhoHmZgTlcYX7OGrtZ7dESYxU

https://cointelegraph.com/news/china-signs-agreement-with-hong-kong-central-bank-for-blockchain-push

check those links i think its more appropriate than that one you shared

I had also the same thought, and I think that is why president Xi endorsed the utilization of Blockchain technology. This could be the first phase of the creation of their own cryptocurrency, I had no idea what name of the coin would be so it is good that you shared this one. Decentralization and anonymity of Bitcoin are some of the reason why big countries wanted to create their own cryptocurrency for them to manipulate and regulate this technology.

Just look at the websites https://en.wikipedia.org/wiki/Websites_blocked_in_mainland_China which are ban in china. I don't find any reasons why they banned all those websites. If those websites creates a problem for Chinese Gov then Bitcoin is a real threat fo them.  So I dont think that they are going accept bitcoin as currency in any near future.

I think the Chinese government will only accept bitcoin as a commodity. because they already have plans to make their own crypto coins. and I heard that this crypto coin made in China is called DCEP. I'm sure China will support DCEP more than bitcoin. they don't like bitcoin because it is anonymous and decentralized. that's why they make their own coins so they can still control it.