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Author Topic: China in position to lead the next Bitcoin bull market  (Read 1236 times)
BTCisthefuture
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April 21, 2013, 08:43:41 AM
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Interesting read about China and bitcoin....

http://qz.com/74137/six-reasons-why-chinese-people-will-drive-the-next-bull-market-in-bitcoin/


My personal opinion is that the Chiense government could and would crackdown on bitcoin hard enough that it would drive most people in China away from it if bitcoin ever became too popular in China.  It true that you can't really stop bitcoin it's self. But the Chinese government could and I think would censor anything related to bitcoin on the internet and impose penalties on anyone caught even talking about bitcoin online let alone engaging in the trade of it.

Interesting that China has already cracked down on virtual currencies in the past, I wasn't aware of that until reading this article.

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Bitcoinpro
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April 21, 2013, 08:48:53 AM
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Interesting read about China and bitcoin....

http://qz.com/74137/six-reasons-why-chinese-people-will-drive-the-next-bull-market-in-bitcoin/


My personal opinion is that the Chiense government could and would crackdown on bitcoin hard enough that it would drive most people in China away from it if bitcoin ever became too popular in China.  It true that you can't really stop bitcoin it's self. But the Chinese government could and I think would censor anything related to bitcoin on the internet and impose penalties on anyone caught even talking about bitcoin online let alone engaging in the trade of it.

Interesting that China has already cracked down on virtual currencies in the past, I wasn't aware of that until reading this article.

they didn't seem to crack down too much on the gaming currencies from what I remember reading, bitcoin would be seen as a threat to their printing press and historically they like to have a very weak currency so bitcoin would be like an Achilles heal

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oakpacific
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April 21, 2013, 09:44:14 AM
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Don't overestimate the bureaucrats in Beijing, and don't underestimate the adventurers in Shenzhen. Wink

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
BTCisthefuture
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April 21, 2013, 09:55:35 AM
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Don't overestimate the bureaucrats in Beijing, and don't underestimate the adventurers in Shenzhen. Wink

What's going on in Shenzhen ?

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
oakpacific
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April 21, 2013, 10:04:18 AM
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Don't overestimate the bureaucrats in Beijing, and don't underestimate the adventurers in Shenzhen. Wink

What's going on in Shenzhen ?

Well, it's a general analogy actually, but yeah, I seem to recall Roger Ver settle with his business partners in Shenzhen using bitcoins from time to time, not to say most of the ASICs are manufactured there.

This quartz article, I believe, is spot on. I have been saying for months Chinese people will be interested in bitcoin as a medium of exchange for buying things oversea, all we need is the American/European merchants to wake up to this profiting opportunity and start accepting bitcoins, it is good to see finally some first-world people catching up with the idea.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
BTCisthefuture
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April 21, 2013, 10:09:14 AM
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Don't overestimate the bureaucrats in Beijing, and don't underestimate the adventurers in Shenzhen. Wink

What's going on in Shenzhen ?

Well, it's a general analogy actually, but yeah, I seem to recall Roger Ver settle with his business partners in Shenzhen using bitcoins from time to time, not to say most of the ASICs are manufactured there.

This quartz article, I believe, is spot on. I have been saying for months Chinese people will be interested in bitcoin as a medium of exchange for buying things oversea, all we need is the American/European merchants to wake up to this profiting opportunity and start accepting bitcoins, it is good to see finally some first-world people catching up with the idea.

I totally agree that bitcoin is a great thing that would suite Chinese people very very fell.  I do however feel that due to the internet/news censorship out here that it will be hard if not nearly impossible for bitcoin ever to really get a strong foothold in China. Also I believe if it does that the government would act quickly, if there's every a government that would be fearful bitcoin China's government would be near the top of that list, no?

Will be interesting to see what happens though.

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
oakpacific
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April 21, 2013, 10:20:02 AM
 #7

Don't overestimate the bureaucrats in Beijing, and don't underestimate the adventurers in Shenzhen. Wink

What's going on in Shenzhen ?

Well, it's a general analogy actually, but yeah, I seem to recall Roger Ver settle with his business partners in Shenzhen using bitcoins from time to time, not to say most of the ASICs are manufactured there.

This quartz article, I believe, is spot on. I have been saying for months Chinese people will be interested in bitcoin as a medium of exchange for buying things oversea, all we need is the American/European merchants to wake up to this profiting opportunity and start accepting bitcoins, it is good to see finally some first-world people catching up with the idea.

I totally agree that bitcoin is a great thing that would suite Chinese people very very fell.  I do however feel that due to the internet/news censorship out here that it will be hard if not nearly impossible for bitcoin ever to really get a strong foothold in China. Also I believe if it does that the government would act quickly, if there's every a government that would be fearful bitcoin China's government would be near the top of that list, no?

Will be interesting to see what happens though.

The government hates us for doing many things, like oversea purchasing itself, like browsing "reactionary" websites, most of our businesses need to play this "cat-and-mouse" game with the authorities on a daily basis, it's just part of our life, sounds incredible? Wink If you live in China you need to get used to it.

Besides, why should the Party go totally crazy on Bitcoin if they finally can wrap their rotten brain around it? The government is consisted of a bunch of vested interest groups, and some of them happen to want to...surprise, make money, and for some of those who want to move their money to a foreign bank account, this could really help....and yeah, yeah, comrades, what happen to the resolution of challenging U.S financial hegemony? Did you all forget so soon? Cheesy

The worst that can happen, I think, is the propaganda bullhorn will max out its volume, and those who can not live without getting brainwashed will shy away from bitcoins, which is, after all, what happened every single day after 1949.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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