Bitcoin Forum

Bitcoin: China’s New Special Economic Zone

Now that the initial shock of the news is over, what is going to happen next? Exactly how will the Chinese Bitcoin community react from here, and what are the consequences going to be in the medium to long term?

http://bitcoinmagazine.com/8778/bitcoin-chinas-new-special-economic-zone/

Very enlightening article. I was not aware of the special economic zone program. That is a very forward thinking idea. Too bad America doesn't think this way.

Its been talked to death, I know, but the upshot of all this Chinese Regulation is just a ring-fence around it, like they have with Hong Kong. Of course, everyone in America freaks out, because that's what they're best at. Sanity will prevail. The chinese are not some backwards nation that can't focus on the long-term.

We're merely witnessing their rapid rise through their own industrial revolution into full-blown consumer-driven society. The loosening of controls on selling farmland, for example, will allow farmers who wish to move closer to population centers the chance to do so. Prior to this, it was under local control, and difficult to impossible to do.

There is a bright future in China, its just that most western biases don't allow them to see it that way.

Any tl;dr version?

China creates 'ringfence' around Bitcoin economy in order to allow growth and development in a safe test environment.

Buy up all the cheap coins.

Actually, Sen. Rand Paul was speaking at the Detroit Economic Club on Friday about doing this very same thing to revitalize Detroit via free market methods w/o the retarded and backward thinking bailouts from DC that just squander money. Google it

Bictoin is super secret project of U.S, and that project is trying to save USD

That sounds like a capital idea! I hadn't heard that. In fact, a few weeks ago I wrote to a bank president in Detroit asking him to look into Bitcoin for that very reason. No response.

Vitalik is as good as ever.

Link no longer working?

works (again?).