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https://blokt.com/news/chinas-increasing-stake-in-crypto

Just came across this article about China's increasing stake in crypto. Kinda crazy to hear how even if the government is doing its best maintain control over blockchain, companies are still thriving. It seems like China is much more pro-blockchain and crypto than the rest of the world.

Any thoughts?

I'm not updated anymore on what's the movement of crypto's on China after the ban they made for ICOs and trading but what I know was there's still a good number of crypto people out there, including investors and businesses.

They did even ruled and control the market before and right now, looks like they are pushing for more adoption to blockchain and crypto's.

How can they use blockchain as currency?

I'm not really surprised with this progress, even though China ban ICOs, their part in crypto mining is apparent. It's just business as usual, and I believe they won't let this opportunity to slip away. However, it's important to note that blockchain is what being pursued, not essentially supporting cryptocurrency.

I doubt this won't change anything regarding their ban on ICOs though.

Technically China could easily control any blockchain uses within the country itself. Simply because they have control over the internet in the country which is one of the necessity for public blockchains to work.

As for blockchain development and implementation, China has been investing billions in total to these development projects every year, no doubt their are ahead of the rest of the world. The question is whether they plan to share this knowledge outside of China.

this seems to me like another one of those articles that tries so hard at exaggerating the position of China this time only because they have dedicated some funds to certain areas. although that amount is high but it doesn't mean they are going to "rule crypto". China is like many other countries that are trying to stay ahead of the curve when it comes to the blockchain technology and adopt it sooner than others. i still don't see anything there that gives them any more advantage to other countries.

I disagree with you. China is all about control and Bitcoin does not give them control over many aspects of their citizens. They want to control capital flowing in and out of China and Bitcoin is borderless. They want to know what their citizens are spending their money on and Bitcoin is pseudo anonymous.

Japan will soon rule the Crypto currency scene, because they have none of these restrictions and their government is embracing the technology.  ;)

Is it true? Or just a rumor? When I first read it, I don't have a good feeling about it. Well or maybe I just don't like China to take over control the crypto currency. Honestly, I preferred it to be the Japan. But furthermore, the Bitcoin, having its own unique characteristics as a decentralized one is what best describe the entire crypto community.

Chine is a big name when it come to cryptocurrency they even have there very own coin neo but also they are various country of the world that are also doing greatly as well and it's good to see that cryptocurrency is gaining much interest

The article tackled one of my questions in my head upon reading the title of this thread. Why would China rule Crypto when they are willing to ban ICO (good job because of the scams people try to pull off in it) and made an agreement where it’s not allowed to have exchanges etc. Some of the exchanges just moved from China Mainland to Hong Kong, which is essential, China as well. So doing that means it confused me that China still wants to be stronger and ahead of the “blockchain” that started it all.

It’s still early to say, but those investments toward improving their technology and research with regards to blockchain would definitely increase and put themselves steps ahead of the competition. It’s a race now between leaders.

There are some solid projects in china like NEO and thekey but it is unlikely that they will control bitcoin. Bitmain is falling apart and they practically kicked out binance which was a dumb move

Neo is not important, just a pump an dump, but China does rule the encryption.
Because we have huobi binance okex bitfinex(hong kong) bitmain

it means that China is a very lucky country, we always hope that in our country, even other countries that popularize this field will always continue to grow so we can only try here and pray that all thought will be better than the previous year.

I think it's something that could be good for all of us. But we do not know about the content of the regulation. It is useful if they leave a living space for crypto coins.

I think it would be best if the governments do not manage or somehow regulate the cryptocurrency for their purposes, but simply cooperate or give people the right to perform operations with Bitcoin (or cryptocurrency in general). In this way, they can unleash the full potential of Bitcoin.

Agreed Japan already does in some respects - legislation + guidance already in place

The advantage of China is definitely the price of electricity, which attracts investors from around the world to build a cryptocurrency mine there. The Chinese government has long been interested in cryptocurrencies, but it seems to me that it is still afraid of decentralization and lack of control over the market. I think that the still valid communist system will be a big problem for cryptocurrencies and China will not be able to become a leader. I think the game will take place in the European Union. Take look on Switzerland or Malta.

I am not sure about China ruling cryptocurrencies with all the bans they have there plus they already have their own platforms running digital payments. Maybe they can become number one adopters of blockchain technology.

I really doubt that, because a lot of people may still buy crypto from any where around the world and China really can't take it all and why would they?

i doubt that, china is spreading blockchain adaption officially but miners are scattered, they might be in huge in numbers, but not going to dominate crypto.

As a communist country China will never accept BTC as a legal means of payment, they will use only those coins which they can control and which are not decentralized. Their actions from the past show us in which direction they are actually going, and we can see that their main interest is in blockchain and development in that area.

It is amazing that a good part of the crypto world puts his hopes on China as a rescuer of cryptocurrency, and forget everything bad that has come from that country. It would be best for rest of the world to China is stay where they are now, let them play with blockchain and leave BTC to free world.

China is the biggest economy right now in the whole world and indeed cryptocurrency is the best option to hedge some part of their economy if the bigger slice will be owned by China then this is a good thing that the biggest economy right now does know something that the other big world economy wants nothing regarding bitcoin and cryptocurrency.

Certainly it will increase while their number of shares increases, every year, while the biggest mining bitcoin is in China, we can see some videos about the biggest mining in China and they are almost competing to build more to grow their mining, so it's impossible if they not pro about bitcoin, they even support the development of bitcoin to date.

I'm not sure about the articles or news that you share
and if that's true, maybe growth will really be seen starting today. but there is no other news that strengthens the article.

I doubt about it, China is famous of the strict regulations and like to control everything, and there are several times China try to ban crypto, I think we are going to hear China banning crypto again, China is not suitable for crypto power, the regulations are too strict

It seems that China has been using and supporting the use of cryptocurrency for a very long time. It's just that the development of cryptocurrency has only been used by a number of companies and now more and more people are starting to use cryptocurrency.

If it would happen then they ust remove ban which means we can see long bull run but afther all China gov. has done i really dont belive them if India and China start to regulate btc then we can say BTC adoptation really started and it can be world currency like USD and other an even somthing like gold i belive.

Wow, I just can't believe it at first, because China had ICOs. But think it carefully, there are a number of investors paying close attention to crypto space. With provision for China's attitude and condition, I will wait for some time to make sure this.

Firstly, I really dont believe any move which was said to be made by the Chinese government because they seems not to be open mind and they always after self satisfaction. Besides, the Chinese government dont have the requirement to rule crypto currency because crypto actually give every individuals right and freedom while the Chinese government like to be in control of something which is why they wanted to maintain control over blockchain as you said.
Mind you blockchain is too broad for a country to control.

I am also not updated on China's how they accept crypto to their country, the last time I heard is that they banned ICO's and trading that is why bitcoin value drops as the news I heard last year if I am not mistaken. This is also one of the reasons why bitcoin value drops but I guess there is also some other reason why bitcoin value drops so hard. If China is going to use crypto then that is good, there are many of us and in China still believes in the potential of bitcoin.

China will definitely rule crypto because when comparing Chinese government rules regarding economy with other countries they always keep an open economy which includes foreign investments and also today cryptocurrency involvements so with that there economy is rising in a higher rate than any other country and that is why the chance is higher for china to rule the crypto world in the future surpassing any other country

I agreed on your answered, I am definitely believed that Japan is much more good compare into adoption of crytpo currency about in China.
All I can see only for China they just want to get the biggest average of controlling Bitcoin or crypto all over the world, base on in my assessment only.

China has the power to control something include cryptocurrency because they are commit to "stubborn" on every commodity.
I wish this become reality because when they control crypto, everything will start green.

That's what investor waiting for !

I am hearing about China using the cryptocurrency more about they are country currency because we all know the cryptocurrency will be the next generation to develop any economy to the great level that's why they are using this and choosing this for their future generation.

This is very good. 10 years ago (2008) bitcoin was a child, today bitcoin is a teenager (2019). In 10 years from now (2029), bitcoin will be a 20 years old youngster, In 20 years from now bitcoin will be an young adult.
 China is going to rule bitcoin and it is very good. Bitcoin is the money that everyone in this world is waiting for. A good market needs to be regulated to protect the consumers.
bitcoin technology is new and it has many un-explored applications into techology. Example is the AI, that is changing the world economy.
In 2008 no one was knowing about bitcoin, in 2019 bitcoin is changing the world economy, what will happen in 10 years from now?

 You can buy bitcoin from many supermarkets today, 10 years ago the price of 1 bitcoin was 1 cents/1 bitcoin, today the price is approx 4000 dollars/1 bitcoin. If the price of bitcoin continues to grow like this its price will be 1 600 000 000/ 1 bitcoin (1600 million dollars / 1 bitcoin) in 10 years from now!

    
  

China, when it likes something, likes to go in Big, but what they are best at, the Chinese is doing things stealthily to gain the upper hand. They did the CHINESE FUD OVERLOAD, we don't like Bitcoin gig to take away the power from Western Hands and they are really into Blockchain, invested very heavily into creating new blockchain tech and want to stay ahead. While the U.S is messing around with regulatory frameworks, China is stealthily growing its arsenal of blockchain projects and accumulating all the wealth in Crypto, as it has done with the Mining. You know that one day they will be the no 1 in everything related to the blockchain. Their biggest asset is sheer numbers and quantity, volume and money they have to throw at this.

The Chinese economy is developing very fast and I think this is also helped by investments in blockchain technology, although China has banned ICO. But he is unlikely to be a leader in cryptocurrency in the near future.

I think this is very good news. If China removes the bans on cryptocurrencies, this will serve as an impetus for a new wave of cryptocurrency growth.

Japan is one of the great place to use cryptocurrency but since China is big enough to rule the market, there’s a possibilities for this to happen. If China continue to be more cryptofriendly we will see a green market again. Don’t be scared on China, just do what is right and you will also benefit from this trend.

Nothing new?

https://www.buybitcoinworldwide.com/mining/pools/

China is also competing for world power thus putting  in every possible means of attracting investment in cryptocurrencies by providing enabling and accessible, affordable electricity supply for cryptos businesses to thrive of course US are always in forefront in every new innovations in no distant time China will catch with them in term of Cryptos adoption and usage after attracting billions of dollar investment.

Blockchain is included in China economy plan until 2026 like prority
There is 26 blockchain project supported by China gov
Some are already up and running like blockchain what track food transport from Australia to China
Blockchain industry is priced on 2 trilion dollars in coming years
Until 2028 15% of global GDP will be stored in blockchain
But it is not bitcoin ethereum etc
China see that crypto market as it is. Kind of speculative market
But only China see blockchain value and is supporting blockchain

I think China had the ability to do this because they have more experience in cryptocurrency field and they can also suitable for this to make it more powerful definitely some of the countries will need to accept the cryptocurrency for the development.

China have been in crypto before but they left crypto around early 2017 due to some circumstances and thoughts. It really give a huge effect and downfalls of crypto before the ATH happen.  And now they finally back into crypto,  I believe it could create  huge impact into the market but not the way of controlling it.

This depends on the meaning of the rules to be applied
Will encryption be controlled as a whole to control the money entering and leaving China?
Or is an organizational process only
The coming days will tell us.
 

I echo the sentiments of most posters here, this article is just a exaggeration on how China's role in crypto or blockchain technology, yes they are involving themselves because if they don't they will be left again in this technological advancement. But it doesn't mean that they will be taking over though, all those money being pour on will just benefited their government and not the private sector, remember this China, they won't yield so much power to their people as they want to control everything.

It is understood that evn though China bans ICOs and trading they didn't, officials may not effectively implement the ban for ICOs and trading. Officials may take this decision for political reasons. Sometimes, officials may take a decision but this decision is not implemented properly countries like China. China has a greate potential but I think it is early to say that China is going to rule crypto.

If I can remember correct it was way back 2016 (correct me if wrong).

They have a big control to the market, miners are there and volume of transactions are definitely happening there but after that restriction. The market didn't depend on them anymore.

the Chinese government is building new strength in the world, so they are aware that by cultivating full control of the blockchain, China can shift America's dominance in the world economy, in the future for any country that is able to dominate crypto currencies, the country will have strength in world economy.
China wants to replace the dominance of the dollar with crypto currencies.

china controlled internet servers and they have there own they have ability to invest , and i think with blockchain tech they want to be ahead 

This is not unusual because China is a large country with a very high population.
The volume of digital currency transactions in China is the largest in the world, so it is not unusual when China can become a leader in the world of Cypto.

What's wrong with our news channels? China has a dark government and this Chinese government does not accept decentralization things, who does not know that these Chinese have the habit of having preference for their own product? Who does not know that the Chinese government controls its citizens? waiting for the Chinese government to change its position would be the same as waiting for  bananas drop from space