China to make Bitcoin (virtual properties) a civil right.

[crazywack]

Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.

I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?

Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.

[BeefUsher]

Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.

I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?

Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.

Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.

[crazywack]

Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.

I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?

Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.

Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.

Like KYC in the good ol USA?

Despite the pseudo anon of Bitcoin it's pretty easy to tell who is who once a BTC to USD is made.

[BeefUsher]

Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.

I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?

Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.

Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.

Like KYC in the good ol USA?

Despite the pseudo anon of Bitcoin it's pretty easy to tell who is who once a BTC to USD is made.

You're living up to your name, crazywack.
1. KYC in the good ol' USA doesn't make it easier to bypass capital controls & move money out of the country.
2. US citizens aren't actively trying to turn their USD into CNY, so there's no issue.
3. "it's pretty easy to tell who is who once a BTC to USD is made" if you are stupid and do it wrong. If you do it right, it's damn near impossible.

I swear

[crazywack]

Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.

I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?

Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.

Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.

Like KYC in the good ol USA?

Despite the pseudo anon of Bitcoin it's pretty easy to tell who is who once a BTC to USD is made.

You're living up to your name, crazywack.
1. KYC in the good ol' USA doesn't make it easier to bypass capital controls & move money out of the country.
2. US citizens aren't actively trying to turn their USD into CNY, so there's no issue.
3. "it's pretty easy to tell who is who once a BTC to USD is made" if you are stupid and do it wrong. If you do it right, it's damn near impossible.

I swear

1. Are Chinese citezens moving money out of China as a hedge OR to transfer money to family? Yes laws are already in place to prevent money transfer.
2. See above
3. You may be able to hide but can the average internet user do it?

I swear

[BeefUsher]

^
1. Don't know, neither do you, and it doesn't make any difference. What does this have to do with KYC?
2. See above
3. An average internet user who isn't a complete idiot could. Are you telling me that everyone in China is an idiot?

When was the last time you checked in at the crazy house, crazywack?

[Cresciuanto]

wow interesting and that is such a good news about crypto currencies. it will really bitcoin in promoting and to stable the position of the bitocoin. and such news causes the increasing rate of bitcoin. i think people will now get more confidence and will try to invest more and more money here.

[redsun114]

China is going to take over the economy. Imagine, most of the bitcoins are held by Chinese bitcoin users and if the value of bitcoin goes up, their market value goes very huge. But personally I am glad that a country unveils it's stand on a digital property. It might pave a path to other countries.

[jerowacik]

This is great news china .if true then it would be a great power. they will be able to compete with bitcoin. bitcoin will get a strong rival. we can see how the population of China today.

[Enotche]

This is great news china .if true then it would be a great power. they will be able to compete with bitcoin. bitcoin will get a strong rival. we can see how the population of China today.

Yes, I agree. The strong influence of China's true for Bitcoin industry, and much more than in the case of the traditional economy. The involvement of Chinese investors in cryptocurrency so high that it is the internal processes that take place in this country, have a direct impact on the value of Bitcoin.

[Bitcoinpro]

Wat do they call the digital code behind fiat???

Virtual Civil BS