What if bitcoin is regulated in China?

[newcripto]

I would see it as another positive thing happening to Bitcoin.If Bitcoin will be regulated in China this means more people will involve with more freedom in Bitcoin.This will take it one more step forward towards bright future.

[Djisamsoe]

and other country will foollow that regulation?

[Wilhelmus]

Something that could be terrifying would be if they agree to start an "official" state-controled cryptocurrency. With all the money that this group of people have, they could kill Bitcoin and even Ethereum !

But if they fully legalize Bitcoin, price will surely increase .

[Betwrong]

Something that could be terrifying would be if they agree to start an "official" state-controled cryptocurrency. With all the money that this group of people have, they could kill Bitcoin and even Ethereum !

Can you please explain how exactly any state-controled cryptocurrency may put other cryptocurrencies in danger? Let's say Russia will start producing its own dollars, will this put U.S. dollar in danger?

But if they fully legalize Bitcoin, price will surely increase .

Bitcoin doesn't need no "full legalization". It just needs less restrictions and regulations.

[gugo]

Isn't it already regulated?    They block many bitcoin related websites.

[Pab]

China long time ago said that thay will follow USA regulation.If btc will be regulated in China than big chinise bussineses will start to accept btc.Of course price will jump  and will remain more or less stable

[hl5460]

I still see chinese users still using bitcoin even if it was classified as illegal.

Bitcoin is not illegal in China.

That's right.Bitcoin has never been deemed illegal in China. Or yet.

[dothebeats]

I still see chinese users still using bitcoin even if it was classified as illegal.

Bitcoin is not illegal in China.

That's right.Bitcoin has never been deemed illegal in China. Or yet.

Well they did, and afterwards they took back what they said. China is a major parr of the bitcoin economy, and if in case they completely ban bitcoin-related activities, we‘ll probably see hard times coming.

[pooya87]

i think those chinese people who were interested in bitcoin and wanted to invest in it, have already done it and the rest have invested in mining and are mining currently. if bitcoin get regulated it would only help government keep an eye out on them.
but also it can help more businessmen to start using bitcoin with more confidence and this can help bitcoin grow IMO.

[n2004al]

I still see chinese users still using bitcoin even if it was classified as illegal.

Bitcoin is not illegal in China.

That's right.Bitcoin has never been deemed illegal in China. Or yet.

Well they did, and afterwards they took back what they said. China is a major parr of the bitcoin economy, and if in case they completely ban bitcoin-related activities, we‘ll probably see hard times coming.

The official status of bitcoin in China is "restricted". If you want more explanations see and read in this link here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

[lightenx]

+1 for Europe and the U.S. Not hating on anyone

[gogxmagog]

china regulating will open the door to huge amounts of new money flowing into bitcoin without a doubt. Bring it on I say, bring it on!

[RKing]

china regulating will open the door to huge amounts of new money flowing into bitcoin without a doubt. Bring it on I say, bring it on!

Regulation can make it acceptable to some main stream applications. Many institutions can only invest in regulated exchanges.

[maokoto]

Regulations are good in the sense that it means the coin is getting enough attention to be considered by governments. But it tends to has its counterpart (trying to control it).

And China has a history on controlling.

[neurotypical]

While I frown upon the idea of regulation, I think if that means bringing bitcoin popularity and adoption towards the next level, then I'll agree to it. I hope by having some form of control, this will instill trust and confidence of those people having doubts towards bitcoin. Sometimes you just have to sacrifice something and that's a fact.

Bitcoin will never get regulated in China. The whole Chinese "empire" is built upon control of the state, with Bitcoin they would lose a lot of money (as in controlled by the state money) by giving the power of freedom that Bitcoin is to their citizens, so they will keep it, if not banned, at least somewhat inside a grey area, unless the citizens defeat the goverment regime.

[OROBTC]

...

With China controlling over 50% of current hashing power, I wonder if there are LARGE Bitcoin holders there.

The uber-rich of China could buy up a lot of Chinese-mined BTC and fairly soon could have a lot of easy to transfer funds (to buy real assets in the West for example).

Anybody know of there are heavy hitters among BTC owners who are Chinese?

[n2004al]

While I frown upon the idea of regulation, I think if that means bringing bitcoin popularity and adoption towards the next level, then I'll agree to it. I hope by having some form of control, this will instill trust and confidence of those people having doubts towards bitcoin. Sometimes you just have to sacrifice something and that's a fact.

Bitcoin will never get regulated in China. The whole Chinese "empire" is built upon control of the state, with Bitcoin they would lose a lot of money (as in controlled by the state money) by giving the power of freedom that Bitcoin is to their citizens, so they will keep it, if not banned, at least somewhat inside a grey area, unless the citizens defeat the goverment regime.

Disagree. The Chinese people and, above all, their Government are between the most open minds people in the world. Not occasionally China is now one of the most powerful countries in the world and compete only with USA in this direction. 20-30 years ago China was only a poor country nominated as country of third world (between the less importants of the world). Not occasionally China has arrived this status being a country without fully democracy and politically with only one political party. This party hold with violence its status and its position as the only party in this country but this doesn't make it less intelligent in leading this country.

They will understand (or better already know this) that bitcoin is important in the world of technology and could be even in economy and they will regulate it. They see their interest but and mostly the interest of they country and its people. I think that the regulation and legalization (that in fact are the same thing) of bitcoin in China will become reality in the most opportune moment for the country and its people. Chinese are very opportunists and they story testify this. This well known opportunism of them made true the actual status of China. This opportunism will make true, in the right moment for those, even the full regulation of bitcoin.

[RKing]

...

With China controlling over 50% of current hashing power, I wonder if there are LARGE Bitcoin holders there.

The uber-rich of China could buy up a lot of Chinese-mined BTC and fairly soon could have a lot of easy to transfer funds (to buy real assets in the West for example).

Anybody know of there are heavy hitters among BTC owners who are Chinese?

There is no known large holder there.

[Amph]

...

With China controlling over 50% of current hashing power, I wonder if there are LARGE Bitcoin holders there.

The uber-rich of China could buy up a lot of Chinese-mined BTC and fairly soon could have a lot of easy to transfer funds (to buy real assets in the West for example).

Anybody know of there are heavy hitters among BTC owners who are Chinese?

There is no known large holder there.

because they sell continuosly, but amond the miner there should be someone with plenty of btc, one that run those big farms, even if he make only 10 btc per day, in one year only he have already a good stash

[Febo]

Whichever governments want to extract the greatest percent of GDP growth (collect the most tax dollars) for their country from this new technological revolution will be the first ones who give regulatory clarification and those with the least legal regulations will get an additional GDP boost.

Just like how the countries that industrialized first had a GDP growth advantage over those who industrialized last. The early adopters get the most benefit.  Just as the early bitcoin adopters did better than the rest of us late to the party Rip Van Winkles, the early Countries who adopt crypto will get much more benefit than those who are late to the party.  

The early bird gets the worm, and it looks like China is hungry.  The sun rises in the east after all it seems.

yes. I dont understand why people fear of Government regulations. They will regulate it to be Bitcoin friendly if they will not, Bitcoin economy will leave that country and move to other one. Why would any country want that?