Bitcoin Forum

Prominent Chinese media houses love Bitcoin and believe that the number one cryptocurrency is a safe haven asset given rising tensions in the socio-political relations among global economic powerhouses....read more

https://www.cryptoknowmics.com/crypto/chinese-media-is-all-praises-for-bitcoin/ (https://www.cryptoknowmics.com/crypto/chinese-media-is-all-praises-for-bitcoin/)

I would not greatly happy this news, as this may be an isolated case. In addition, China is a state with rigid censorship and the attitude to cryptocurrency on the part of the state is not very positive. Media in general is not worth much trust. When bitcoin fell, almost everyone wrote that cryptocurrency is a scam, that they are not secured and because of them many people lost their money, but as soon as bitcoin began to grow again, it suddenly became the hope of the future, breakthrough technologies and opportunities protect yourself from inflation and stress in the global financial market.

Aren't media outlets in China owned by the government? If that's the case, this means that the Chinese are softening up for bitcoin and could potentially issue yet another statement regarding their support for bitcoin and other related services. Or it could just be another statement to piss off the Americans, knowing that the USD has been pretty much weakening as days are passing by. Either way, the Chinese are planning to get involved by prepping up the media, and releasing such statements just helps with that.

Although bitcoin has not been fully accepted by the Chinese government, one of the oldest science and technology media in the country, the Beijing Sci-Tech Report (BSTR) recently announced that it will start accepting Bitcoin in 2019. The BTC crypto currency is planned to become one of the payment tools that visitors can use to pay subscription fees at BSTR. Because of the high volatility of Bitcoin, BSTR says if prices increase rapidly in 2020, they will provide a refund to visitors who pay subscription fees with Bitcoin.

Bitcoin’s status as a hedge against uncertainty also gains further significance when compared with the performance of mainstream haven assets like gold, and currencies like the Swiss franc and the Japanese yen.

By the way, you're right, maybe this is a way to piss off Americans, the first step in a media war

Probably the second.
I really doubt the government would try to lead people into buying bitcoin since they know its the perfect solution to avoid capital control.
I would rank it along with the same propaganda Russia is spawning every month about de-dollarization.

Besides, its China...we all know they say a thing 1000 times just to do the opposite.



No, the won't be able to do it since a lot of countries are well ahead of them
Read the drama of trying to use bitcoin in China (https://news.bitcoin.com/china-during-crypto-ban-one-woman-tries-to-live-on-bitcoin/)...she couldn't even get something to eat for bitcoin and that was in Beijing not some forgotten village in the mountains.

I guess you are right that this position reflects the official governmental position. After all, China scored 177-th out of 179 in the Freedom of Press list, being only above Noth Korea and Eritrea: https://rsf.org/en/ranking. I guess this means that even something slightly against the official position wouldn't reach the news portals. It indeed might be that following the tensions between China and the US, the former might now be considering Bitcoin as an alternative for USD. However, I am also not sure this indicates that the policies are changing. After all, it might be that China wants to own a lot of BTC as a state, but doesn't want its citizens to do the same thing, because it will be hard to control them in this case.

China is a peculiar country, I live in Brazil and I confess it's very hard to me to understand the politics and life in general in China
It seems like people in China tends to love BTC, mining and all stuff related to cryptos, but government are afraid because they will possible lose control

Never fall for China's traps. You can never expect it to be true to it's words. One day it accepts crypto and the other day it bans all the mining in China.
It had banned mining, ICOs and investment in cryptos a few years back. Why do you think China has again started praising crypto ?
Do you think China has started realizing the value of bitcoin just like what others are thinking right now or do you think they are playing another game of money through crypto ?

I guess that is because they always seek the opportunity even the slightest, you can see the competition in their country are so tough, big number of people means a higher competition than any other country. Though I don't really think that they love BTC just becaus it is "BTC". They love it because it is basically money as everyone does.

That's right. Bitcoin is restricted in china but there are a lot of people there who own Bitcoin. There are so many people in china who can buy and sell Bitcoin. But it is not totally surprising. Even with a very tight government, it cannot simply control all the actions of their billions of citizens.

But what is more peculiar about china is that they are claiming to be a communist country yet living fully at the hands of the capitalists.

Yes, this is an interesting point
I know some people who traveled to Japan and South Korea and they said good things about people and cryptos, but in China I only heard stuff like China bans mining, China bans BTC, but I see people posting in forum that they are mining in China, they are using btc normally...

I'd go with the latter. The Chinese govt doesn't strike me as a govt that would go back on its word and would suddenly start embracing Bitcoin when they've been so against it over the past few years. This whole media thing with Bitcoin sounds like a new tactic from the chinese to try to disturb the US amidst the trade war, it's all mind games...*proceeds to take off tin foil hat*

But with the hong kong protests and all the shitshow that's going down in China right now, I wouldn't be surprised if this was nothing more than lame propaganda to distract the citizens and the world.

News getting out of different media needs to be considered a news and the same should not be used to manipulate the media influence on the cryptocurrency network. In the recent years more news relative to cryptocurrency have come through different media, and some were simply an isolated. One such example is the recent news regarding the ban of bitcoin in India and the imprisonment for ten years time. The news was completely from a private service and nothing came out from government authorities.

There are big problems. We read dozens of news every day. Some of this news says it will ban China's cryptocurrencies. It will support the other part ... I think we need a very reliable crypto-news platform anymore.

It is to their best interests to adopt it rather than fight it. They can make more wealth that way. Big irony is that China is currently the worlds largest cryptocurrency holder, despite government restrictions. Its pointless to fight it when it could be benefiting them instead.

For example they want to diminish the US dollar as a reference of value, but the world isn't switching to Chinese Yuan anytime soon. Bitcoin on the other hand belongs to no country, and no country may control it. I could say more, but they better have their own people do the homework of finding out the benefits.

I am happy about this news. I was under the impression the Chinese were against it. There many social problems a safe haven asset would work well. Their currency is weak I believe. Plus all the legal ties and crap.
Much easier to simply install a wallet from the google store and use that. Will empower people and keep assets away from the goverment.

There is nothing wrong in believing bitcoin to be a safe heaven and they are under an oppressive government and if they want financial freedom they will opt for a decentralized currency but the government already had plans to disrupt the market and so is the reason regulations were implemented for the exchanges operating from China but there was a shift in the tide as Japan and Korea embraced the market and had full support. Now China is not the focal point as there was a time when every news from China had an implication on the market  ;D.

Surprise to see they are now reporting such things when their government monitors a lot of what information is to be spread. It could mean they are now openly allowing Chinese to use BTC. Well, Binance is Chinese exchange in the first place. If they can be considered giant in this industry, the Chinese are pretty much going to advance in crypto with their help.

it includes fresh and good news for us as bitcoin hunters. but that must be remembered, not all news is valid and true, there may only be an issue to make us laugh a little and cry finally, I think we must keep the news news that is true and valid, to avoid ignorance caused by such a liar ... !!

      No , they are not the first because Japan and other countries are already accepting crypto currency as payment and their government are embarrassing very much bitcoin , so they are entering lately already , but since their economy is very stable , so they can match up with other country easily if they want .

I understand how the popularity of BTC in China is very high, but the Chinese government does not accept BTC and fight BTC. 
the china government prohibits mining and crypto transactions, but I think crypto investment is not a problem.  some of the reasons China forbids crypto are
1. crypto is difficult to control
2. damages the investment world
3. china wants to make crypto currencies

This news can also encourage other Chinese people to hold bitcoin and hopefully their government will lift the ban on some other crypto activities especially mining. Though a news like this is good, but it will still depend on the support of every government. They know bitcoin is the good coin because of its technology, and this might be the threat for Chinese government because they can no longer control their people, let's hope for the fair regulation around the world.

Even if it's propaganda though, it still gives their citizens the green light to trade and own. I mean, these news are still targeted towards them, not westerners. They're keeping a close eye on whatever OTC exchanges remain running, so I don't think they're very threatened by a prospect of capital flight anymore. Bitcoin is uncensorable for sure, but it's highly trackable, which I'm sure the CCP loves. I feel like we can take this at face value, meaning they're not actively against Bitcoin at the moment.

This is what I see from China:

China’s State Macroeconomic Planning Agency Mulls Ban on Crypto Mining (https://cointelegraph.com/news/chinas-state-macroeconomic-planning-agency-mulls-ban-on-crypto-mining)

Chinese Social Media Giant WeChat Bans Crypto Transactions in Its Payment Policy (https://cointelegraph.com/news/chinese-social-media-giant-wechat-bans-crypto-transactions-in-its-payment-policy)

Where is the love for bitcoin? the Chinese government do not want their people to use bitcoin

It's weird how they are strictly regulating/controlling bitcoin as they suspect that it might be used for illegal activities yet they are highly praising Bitcoin. I guess we are going to see a new centralized crypto currency made by the Chinese government themselves after they impose full ban on bitcoin.

I doubt that they're softening their stance on Bitcoin, so I would really take the news with a grain of salt. If I remember it corrected, there was a report that EOS and Ethereum was the top crypto when they published a ranking report earlier this year, and Bitcoin? it fall from 13th-15th place.

So I'm surprised by the news but not convince, so don't celebrate yet, as you we all know that Chinese government have made a u-turn on Bitcoin already like two years ago and I doubt that they will change their direction.

don't waste your time with any article that comes from the website in OP called "cryptoknowmics", he is just creating new accounts and spamming bitcointalk with his own links to generate traffic and earn money. it is the new way of spamming bitcointalk these days and mods apparently don't do anything about it.

The media that was cursing Bitcoin previously now had started praising BTC as the price upsurged, though China has a positive attitude towards cryptocurrency yet the government responds created a negative atmosphere which now seems to be dissolved.

not a news that you could believe in. there maybe thousands to millions od chinese using crypto but their govnt ain't that noisy to publicly tell the media they are allowing it. this is advertising and all for web traffic. OP must br associated to the site.

All of your points are valid since we have already knew how Chinese stands about cryptocurrency and the issue against America,having a media that runs by the government it’s obvious that all of their news are scripted so we could only tell bias reviews

On the other hand they might be considering the benefits of crypto now since for years they have been cruel to Bitcoin.(but ofcourse this is the list they can do lol)
That same thing is what runs in my mind,because if the Chinese government really supports Bitcoin then they will broadcast everything sine they’re a communist country

If this article told us about the opposite then it's gonna be surprising and it just FUD so this post is just plain expected. Chinese people dominate the market. The top exchanges right now are Binance, okex and huobi and mostly chinese staff runs them. And if it weren't for China, btc is as good as dead in the last bear market. We should also praise them for keeping their faith in btc.

I agree, not all media are worthy of trust because if not all then most of them tend to omit some parts of the news to make it look like it is something not to worry about and sadly, media plays a big role in the awareness of people. Also based on previous articles that I read China’s feedback to bitcoin isn’t that good in majority of the state so I don’t think it is something that we should be happy about.

Though Chinese people are not that fully adopted with bitcoin, they are still who are very optimistic about it. Even the Chinese government and media accepted the fact that bitcoin can be considered as an asset. Their is so much good effects and benefits bitcoin can give that to some countries and China is one of those who are aware of it now.

Liking this progress - although the Chinese government does not really in full support of bitcoin or any cryptocurrencies for that matter, the industry should be thriving as the very reason bitcoin was made in the first place is to be revolutionary and does not work the way fiat does.

Bitcoin is NOT, NOT, NOT a safe haven asset.  No one buys bitcoin to act as a bank account, they buy Bitcoin hoping that the price will go to 1,000,000.00

Something that can gain or loose 25 % in a day is considered a safe haven.

Bitcoin is NOT an asset, it is digits on a screen, it does not exist on the elemental chart.

China is a HUGE country, one story does not mean anything...

Just about everything in your post is wrong.

it's not currently a safe haven asset. we're only a decade in---it's still too new and experimental to achieve that status yet. people are rightfully skeptical, and this volatility we see today should be expected.

but a few decades from now? it definitely seems possible. jpmorgan says bitcoin could become a traditional gold-like asset and i agree with them: https://cointelegraph.com/news/jpmorgan-switches-tact-backs-bitcoin-as-new-gold

Yes, there is a possibility that something like that is happening now, considering that these two countries are in economic competition. USA has tried but it has an impact on the weakening of their currencies while China if we look at a few months back like not doing anything related to Crypto. With things like this maybe China is also starting a movement that makes Bitcoin bullish or bearish./

So what? Chinese crypto media of course live Bitcoin, just as all English crypto media do. It's kind of a given, like saying that living people love living and dead people don't seem to want to live.

Doesn't really mean much in China when state media aka Xinhua, People's Daily and CCTV (plenty of others of course) continue to ignore Bitcoin. In fact, today still blaming "Western ideologues" for the ongoing HK protests. And since the protestors are apparently using Bitcoin to avoid spying attempts, a matter of time before they'll also lay some blame on bitcoin.

ICO projects do not lose their popularity in China: the number of queries on this topic is growing inexorably in Baidu, the country's main search engine. Experts note that BTC is gradually becoming on a par with gold and the Swiss franc. Bitcoin practically doesn’t have to do anything to become the main reserve global asset. Just all other systems will gradually disappear (over time)

Don’t fall into trap we already knew how Chinese acted in the past years against crypto and knowing also that their media outlet is controlled by the government so things might happen either in favor of against our crypto community so better watch out.
Though I don’t wanna give negative approach in regards to this news but at least let’s be ready Incase things don’t come our ways,and it’s better safe than never

They might just be up to something on the reason why they are hyping up Bitcoin as a "haven asset" these kinds of news made in unison won't happen if they don't have an ulterior motive behind this, they might just want to pump up the prices with their local exchange or something to make profit off. This wasn't also the first time that a Chinese organization has hyped up Bitcoin and some other coins, remember this news (https://news.bitcoin.com/china-releases-new-crypto-rankings/) when they ranked cryptocurrencies where BTC was ranked 6th and EOS was ranked 1st? Trust me this is just the Chinese using their influence to move up some things.

They know what's good. I mean the Chinese people not their government. The Chinese were the first to establish a network of big exchanges and the first to industrialize mining. Their government did what it could to discourage them but they know better.

 It's scary to think that when Bitcoin finally reaches 100 thousand dollars per coin most of that value will be in China.

But the Chinese government do not love bitcoin. In fact they had regulated the cryptocurrency in their country by banning some of crypto projects after finding out that there are many crypto project landed as being shit coins or tokens. However, the government has still the believe on bitcoin but I do not.think that they need or considered as necessity for they had also business individuals like Jack Ma that develop cashless society for their country.

I guess the ban of trading an ICO in China doesn't really shake the people a bit. That is the spirit that all the people on this community need. A certain media houses clearly showing that they support Bitcoin by adding a small feature to their mobile app. This may seem like not a big deal, but they actually are for some people, especially for the community. Anyway, the thing that's been going on on the government side there seems to be a whole lot different with the people's side. They are clearly showing the government that those regulations on Bitcoin was a wrong step to make. The people there seem to really like Bitcoin whereas on the other side the government seem to hate it. I think this is just the nature of Bitcoin. The decentralization aspect of Bitcoin will never fit in for those who seek power. They're just no match with the nature of it. Hence, they will keep on getting rid of it just to secure their position.

Are you sure it's China ?
It's just one news , China have banned already a lot of things which people cannot do when it comes to Bitcoins .
* ICO's are banned
*Trading is banned
*There was news that people cannot hold their coins so many were selling suddenly but then court said they can
*Over an over Bitcoin is banned in China
*There is no reason why media should actually talk about this that too in a good way , because we all know that they are starting their own cryptocurrencies maybe they want to just spread the idea of cryptocurrencies as a whole so that they can gain investors.

All these statements are made for a reason ,it is beneficial for cryptocurrency holders to be able to quickly get rid of this sour asset called bitcoin ,and start investing in the development of quantum computing, artificial intelligence and the dominance of various neural networks. ;D ;D ;D

I don't agree with you even once. Chinese media and government tends to be like "double-agents" when it comes to Bitcoin. They will normally bash on it in order to improve the position of their coin, or at least try.

But if they see that it risen in price they might take full advantage of it of course. From the financial point of view, is a really accurate decision.

That is good. As i can see some guys do not believe to China's news. Guys, China banned ICOs not crypto... China is always first in technologies.

I know to speak very good French and English. A year ago I started to learn Chinese. To learn a foreign language one needs on the average 20 years, to learn Chinese one needs 40 years.

Every country has a word for its people. The word for Romanians is downcast, for Germans is hard working, for Czechs is rich, for Denmark is explorer, etc

Chinese people are the wisest people in this world. There is no country in this world as China. They have helped me many times, although I have not asked for their help.

What I can say, from what I know about them (the Chinese people) is that they work very hard and that they are very honest.  If they praises the Bitcoin, then the Bitcoin is very good and is the future. They are smarter than I am, and I trust what they say about Bitcoin.

This is where the Chinese have become smart and wise? What are the main inventions that were made by the Chinese over the past 50 years?They do not,they use other people's technology ,littered the world with toxic rubbish ,polluted their environment ,and continue full-scale resettlement of their people around the world.

I knew that China banned bitcoin mining throughout their country. The thing is, we never know what they stand at cryptocurrency because many years ago, they always ban and keep banning bitcoin. But look at them now, they praise bitcoin. I don`t know if they are care with their citizen or they just have clever mind. They banned when they know it will declines and reenter once the market goes up again.

I guess, there are many hidden corners there. China has long brought in its will and great ambition for bitcoin and crypto. Even 70% of the mining farms here are telling something. It is more backed in the back. Reducing the value of the USD is only a long-term goal they can. Chinese media sometimes show it's unreliable. They also contain things that affect bitcoin.

China's influence is very large for cryptocurrency so many crypto lovers are starting to like it if the Chinese media side with cryptocurrency, especially bitcoin. I think this will have a positive impact

I'm glad to hear the high level of crypto understanding and use in China. Even though crypto is officially banned in China, there are many merchants that readily accepts crypto as payment. There are many factories that accepts crypto payment and I even ordered an item and paid for it + the shipping fees from China in crypto.

There are many ways to interpret this news, at the level of speculation can be seen as a way to expect massive purchases so that the price increases and at the level of people who are investors are special to decide to buy a lot, I interpret it Very positive way, so you can expect a great bullish rally. And as we now enter the stage bullish trend, it is expected that the next moves to reach a parking for a while for $ 20k, and wait for the break of the last bitcoin ceiling that gave us in 2018.

I think this is ONLY due to the fact that many affluent members of the Chinese Party have the means/funds/tech know how to do Bitcoin and Crypto Mining.

Also, the 'alignment' of an 'overabundance' of hydroelectric power, due to excessive rains are gonna make deals between utility companies (hydro state owned)

and places like Bitmain rich as hell, before this 'Summer Water and Hydro Electric' surge passes by fall.

Indeed, this could be Bitcoin's last China Mining Gold Rush. I suspect after this Summer and the above hydro excesses go away, it will go back to being

evil Bitcoin and Miners that are taxing the electrical grid stories again. :) China like cycle Bitcoin as bad/good depending on how the winds blow with the power elite!

my view of this anyway since watching from 2013

Brad

This scenario is being presented in different parts of the world, where investors see in BTC or other cryptocurrencies the opportunity to have their investments safeguarded, since the monetary policies of the countries and the ideological conflicts generate uncertainty.

People for a long time considered China to no longer play a role, but it always has through alternative ways. A lot of Chinese Bitcoiners have been using exchanges such as Huobi and OKEx, and even some Japanese ones.

I do wonder how long these people will be able to continue doing so with how it gets harder and harder to use an exchange without verification. It really sucks because it severely limits people's freedom.

I'm sure that it won't take long (at most a year) from today before Binance no longer allows people to freely sign up and withdraw their coins. Binance has no choice but to become compliant so it's a ticking time bomb.