Bitcoin Forum

Chinese officials have said Bitcoin Can 'Co-exist' with Fiat Currencies (http://www.coindesk.com/chinese-official-bitcoin-can-co-exist-fiat-currencies/). :)

https://agreaterstage.files.wordpress.com/2014/07/first-they-ignore-you-then-you-win-gandhi.jpg

well by co exist do they mean china can use it for legitimate trades with merchants or do they mean they've bought enough now and want a quick pump before banning it again.

Exactly...
They're trying to let it take over but be a side-arm of Fiat Currency.
No doubt they are scared of bitcoins capabilities against the government, hence they are trying to act like they are ok with it to an extent.

Conspiracy theories... Maybe they want to sell some and then dump again and buy it back?

Why would they even bother trying to manipulate the btc price  when they could just print more paper  money and use it to buy usd, gold, diamonds etc

Its more likely they're worried about Chinese citizens sneaking their money to other places outside China that they have no control over

Btc is the perfect vessel for this kind of thing....

Why would the Chinese government manipulate the Bitcoin price?

They have better things to do than getting into something with a market cap of just 4.6 billion.

I don't believe they would bother to play with BTC market manipulation. But the truth is, if they gave a green light to cryptos and created friendly regulations, the market cap could easily increase ten-fold.

So you mean to tell me that governments have not been buying Bitcoins secretly at a low price?  ::)

I think that announcement was done to manipulate price, I have to hear things oficially to believe them

Even though China is the place where almost all the computer components are made, some of these components will bypass their security to the Chinese people. This means that sooner or later the Chinese people will rule, because they can use bitcoins to pay for guns.

:)

What r u actually trying to say... seriously !!!

Even though China is the place where almost all the computer components are made, some of these components will bypass their security to the Chinese people. This means that sooner or later the Chinese people will rule, because they can use bitcoins to pay for guns.

:)

EDIT: भले ही चीन जगह है जहाँ लगभग सभी कंप्यूटर घटकों किया जाता है, इन घटकों में से कुछ चीनी लोगों को उनकी सुरक्षा बाईपास होगा। क्योंकि वे bitcoins बंदूकों के लिए भुगतान करने के लिए उपयोग कर सकते हैं इसका मतलब यह है जितनी जल्दी या बाद में चीनी लोगों पर राज करेंगे कि।

It is not about the market cap. Its about its inherent power. Bitcoin has shaken the world of power. Satoshi has truly thought clearly inside the foundation.

I'm getting tired of seeing that slogan,bitcoin is looking grizzly right now.

Yes that's a good side, but a bad side is if they can manipulation the market, more ppl will receive the impact.


This is bad.

What you guys don't get is who is making these "decisions".

It's not the collective Chinese government, it's some random government agency official with just enough power or money to make an announcement like this. For all you know, it may not even be a government official, but just some Chinese guy with connections. Do you really think the leaders of China are sitting down at a big meeting over and over again discussing whether or not to ban Bitcoin?

Somewhere, a couple of Chinese guys are drinking and laughing about how they were able to multiply their money by 50,000% by fooling a bunch of stupid Westerners into thinking China was going to ban Bitcoin.

Chinese leaders are smart, but without respect for human rights.

They knew that BTC is a good thing because it is an alternative to their fiat currency, if a megacrash happens (like Greenspan once said, lets not destroy experiments with alternate currency, we never know when we need them)

Also they have most mining capacity and hardware manufacturers in their country; it is like a natural resource to them.

So sure, they manipulated price down, invested into BTC, and now they say, hey, BTC is not our enemy ....  ;D

Right now some governments are laughing at Bitcoin and some are fighting it.

Interestingly those who are fighting are smarter than those who are still laughing. The former has already figured out the beast and the later is still thinking that it is a joke !!!

im not mad that bitcoin is crashing right now cause i know in another couple of years shit is going to skyrocket higher than we have ever seen it before. For it to go mainstream it would have to.

Once again, FIAT price has nothing to do with bitcoin's success evaluation.

Probably not, especially not large governments like the Chinese government who spend trillions of dollars every year. Compare this to the market cap of bitcoin (~4.5 billion), and you will see that it would not make any sense for them to do this, as it would not have any meaningful impact on their overall financial picture

Do not get too excited. That is just a personal view of a former bank governor. 

Oops... how do u know ? R u from China ?

Want it or not most countries will adobt BTC as a mean of payment.

All expected to be at +1k$ by the end of the year but this does not mean that it does not get massive recognition day by day.

We need a few years to have mainstream implementation.

Very beginning of the article you linked:


http://www.coindesk.com/chinese-official-bitcoin-can-co-exist-fiat-currencies/ (http://www.coindesk.com/chinese-official-bitcoin-can-co-exist-fiat-currencies/)

But then again:


So he's not totally irrelevant

It's the dream. When you think about it, it feels likely Bitcoin will succeed.

Most newcomers think that will get rich at once , when investing in Bitcoins.

We only need to (cold) store them and wait at least a couple of years to have some results.

I am not expecting for huge increase even then but I am sure it will have positive direction.