)Also if they didn't crack down that'd be cool too.
Topic: You western guys are over-interpreting the CCTV coverage - page 2. (Read 5088 times)
It will take a long time for bitcoin to gain enough traction in China to become "dangerous to their interests". This is major news because it will rock the market until that happens (which will rock the market again )
Also if they didn't crack down that'd be cool too.
)Also if they didn't crack down that'd be cool too.
I agree. Just because it was aired on a big news channel doesn't mean that the government approves of it or is somehow backing it. They can change their tune any time they want, as soon as they feel BTC's as dangerous to their interests.
There are two lines in the discussion related to the CCTV coverage
I totally agree with this one:
But this is one just an illusion of China in the eyes of western world:
Here's why:
1. CCP does control all media in China. CCTV and xinhuanet.com are definitely directly operated by the CCP. However, it doesn't mean that every single story on these CCP-operated media represents the thinking of CCP. Actually, they occasionally (if not fequently) make mistakes. Just a few weeks ago, Xinhua reported a fake news about Xi Jinping (the CCP president) riding taxi.
http://www.telegraph.co.uk/news/worldnews/asia/china/10002599/Xi-Jinpings-anonymous-taxi-ride-through-Beijing.html
It is well-known that in China there are very strict rules in reporting the activities of the major officials, while the Xinhua could still make a mistake like this.
2. About the legality of BTC in China. Please understand that there is NO law in China. CCP rules everything. All businesses are running more or less in grey area, and is definitely so for BTC business. If CCP find BTC threatening their dictatorship, they will shut it down next second with no mercy (at least the exchanges, not sure if they could really shut down the bitcoin network itself). Therefore, I will never leave a single satoshi and a cent of CNY on any Chinese exchange for more than 24 hours.
3. A Chinese blogger has a similar view as mine: http://blog.sina.com.cn/s/blog_67a17e000101kzoc.html . He thinks the CCTV is just trying to report a trendy topic without thinking too much about politics. They will regret because Chinese government is actually printing much harder than Ben.
I totally agree with this one:
Quote
30 minutes coverage on CCTV -> More Chinese people know BTC -> More download and search of bitcoin in China -> Positive for the price of BTC
But this is one just an illusion of China in the eyes of western world:
Quote
CCP controls all media in China -> 30 minutes coverage on CCTV (also xinhuanet.com today) == CCP embraces BTC / BTC is legal in China
Here's why:
1. CCP does control all media in China. CCTV and xinhuanet.com are definitely directly operated by the CCP. However, it doesn't mean that every single story on these CCP-operated media represents the thinking of CCP. Actually, they occasionally (if not fequently) make mistakes. Just a few weeks ago, Xinhua reported a fake news about Xi Jinping (the CCP president) riding taxi.
http://www.telegraph.co.uk/news/worldnews/asia/china/10002599/Xi-Jinpings-anonymous-taxi-ride-through-Beijing.html
It is well-known that in China there are very strict rules in reporting the activities of the major officials, while the Xinhua could still make a mistake like this.
2. About the legality of BTC in China. Please understand that there is NO law in China. CCP rules everything. All businesses are running more or less in grey area, and is definitely so for BTC business. If CCP find BTC threatening their dictatorship, they will shut it down next second with no mercy (at least the exchanges, not sure if they could really shut down the bitcoin network itself). Therefore, I will never leave a single satoshi and a cent of CNY on any Chinese exchange for more than 24 hours.
3. A Chinese blogger has a similar view as mine: http://blog.sina.com.cn/s/blog_67a17e000101kzoc.html . He thinks the CCTV is just trying to report a trendy topic without thinking too much about politics. They will regret because Chinese government is actually printing much harder than Ben.
Jump to: