If Bitcoin goes past $5000, what will the Chinese government do?

[ProGamerJojo]

 Meet with world leaders to discuss this new form of financial terrorism and instigate a coordinated and sophisticated global response. HAHAHAHH

[1715407732]

1715407732

[1715407732]

1715407732

[1715407732]

1715407732

[1715407732]

1715407732

[1715407732]

1715407732

[1715407732]

1715407732

[BitcoinPanther]

I think they will continue to do whatever they are doing or they have to do.  I think  Chinese government have their own plan and is unaffected by the price of Bitcoin.  They can probably look into the case of Bitcoin on how it goes up like that and probably will design a bitcoin like currency but this time it is centralized and not open blockchain.  Privacy and Security as they call it.

[streazight]

China will come back when they're ready, just like they did with Huawei and Alibaba. Think they'll take their time tho.

If you ask me, China will be back before bitcoins will become worth 5k dollars. Just think about those whales of China who invested big amounts in bitcoins. Do you think that they have left it already? Obviously no. Many Chinese would be still dealing in bitcoins in some secret ways. Moreover, abandoning bitcoins like this is not a new thing from this country.

[|Bitkoin|]

If Bitcoin goes past $5000 the Chinese government will probably smile because they started the FUD with the ban and then probably bought the dip. That's how these govts and too big to fail banks work.

[Victorycoin]

the same thing they did when bitcoin price went to $10, or $1000 or $3000 or $4970. they will not the same things, regulating exchanges, banning altcoin ICOs that are way of scamming people and generally regulating cryptocurrencies.

all the while they will be laughing at us for talking about them nonstop instead of buying bitcoin like they have been doing.

Are you Chinese? You talk too much, gringo. How did you know that they are buying bitcoin? Any proof?

It is beginning to give me concern the sort of ideas and opinions sometimes even senior members of the forum expresses! Now what has China got to do with Bitcoin getting to $5000 or not? Is Bitcoin one of China's natural resources or product from one of the factories sited there? I guess it's high times all these undue importance being attached to China's Bitcoin interest is done away with, because Bitcoin is and never going to be all about China.

[rjbtc2017]

China will come back when they're ready, just like they did with Huawei and Alibaba. Think they'll take their time tho.

If you ask me, China will be back before bitcoins will become worth 5k dollars. Just think about those whales of China who invested big amounts in bitcoins. Do you think that they have left it already? Obviously no. Many Chinese would be still dealing in bitcoins in some secret ways. Moreover, abandoning bitcoins like this is not a new thing from this country.

In my own opinion, I think Chinese Government is really eager to their power to take control for the monetary policies and the money flow in China. They are surely eager to lock out bitcoin from accessing this country( vice versa , chinese accessing bitcoin in general). Secret transaction may not also happen because chinese government when some technology exploit their secure control on their citizen just like bitcoin.

[jseverson]

If Bitcoin goes past $5000 the Chinese government will probably smile because they started the FUD with the ban and then probably bought the dip. That's how these govts and too big to fail banks work.

They have actually said that they have no intentions at all in banning Bitcoins. News came out days ago that they will be applying regulations for cryptocurrencies in general. They will be classified under 'digital assets', whatever that means. There's a lot of love-hate going on.

[AwpDragonPoor]

Nothing at all. They can't really do anything, and the best thing that they can actually do is to start accepting btc in hopes of getting some for themselves.

[audrey12]

China doesn't like the idea of having bitcoin maybe because their government does not want any currency to rule their economy but as we all know China is one of the best known when it comes to copying I'll be not surprise if one day they will create their own crypto currency that they will introduce and will likely to be adopt in their market.

[Spaffin]

The Chinese government has already allegedly announced the legislative settlement since October 1 of the circulation of the crypto currency, so it is no longer intended to prohibit it. We can say that the crypto currency in China has won. The Chinese government was never able to bring its threats into execution. I hope that after this beatkoinu and other kriptovaljute already nothing will prevent to rise sharply in a course.

[Sadnu]

We do not know the real purpose of china by stopping the ICOs and Exchanger in their country. They are likely planning to make their own Coins and make the Bitcoins illegal, And other top Altcoins. But this is my only opinion and I may be wrong with what I said. But why would they stop it? Now they know that this is good for the people of their country. What is their purpose?

[Jaya912]

I am not sure what they will do but i think the price of bitcoin will not change anything. They will do the same like now. But we know that chinese people does not really care, they will still try buying bitcoin whatever their goverment do.

[alwaysapps]

They will Re-open exchanges partially owned by the government to take a share of the money.  Everything is about money.  They have lost so much with these exchanges being operated by third parties, they are taking the control back. ICO's will become regulated and the ban will be lifted. 

[yugyug]

If that could happen then that's China's one of their "big shot" . What US and Europe's hot, Chinese give them a big shot or do counterpart to there billion of citizens has to offer. Bitcoin's trending price was eyeing on China and supposedly make a strategic plan on how to kick-out bitcoin in China as it gives a threat when their citizens are hooked into and starting to unpatronized their own currency. Millions of Chinese are now engaging bitcoin transactions , but Chinese government has not taken the direct benefit from bitcoin as they can't take control of it. Making and developing alternative coin to bitcoin is their best option, in which China has a direct control of it. IMHO, Bitcoin and ICOs to China were started to ban during the launching period of NEO, coincedence isin't it ? i doubt that these NEO could be the China's Bitcoin. If that price soar high as 5k, Chinese don't care anymore as long as their Chinese altcoin's price were stable too.

[wilhb81]

Based on my observation, China's government will probably execute No.1 & No.2 (for the No.6, they might do it privately without being noticed by anyone lol)

By the way, I was wondering, where is the No.4 option? 

[pooya87]

I am not sure what they will do but i think the price of bitcoin will not change anything. They will do the same like now. But we know that chinese people does not really care, they will still try buying bitcoin whatever their goverment do.

bitcoin price has always had an overall trend that nothing can change. it will stay on that path which is a rising trend. what we see in the news and everyone gets excited about are the short term and temporary changes swinging the price up pr down for a short time before things go back to normal.
whether China does weird stuff or not, price will go back to the normal state and continue on it.

[dacsee]

Is this OP original post to be taken in a serious manner?

The Chinese government is an expert at price and currency manipulation, and they use it for profit over and over.

This has no long-term or seriously threatening effects on Bitcoin however, or any new technologies.

[worldinacoin]

I think they will nationalize all the mining operations and make them all the govt's

[traderethereum]

i think first they will regret that they missed the time because they banning bitcoin but the second is i think they will open their mind again to approve bitcoin. i think they don't really ban bitcoin because i am sure that china government will use their source to analyze and learning about bitcoin and i think they can found many benefit from bitcoin that could help their country especially to help their people to solve their problem.

[magneto]

I think they will nationalize all the mining operations and make them all the govt's

Very unlikely. They are anti-bitcoin so doing something like this would essentially mean that they are endorsing bitcoin, which is something that they do not want to do. They are much more likely to ban mining than to do this.

We've hit $5000 before, and China didn't do anything. So even if they have a trigger price where they just start banning everything bitcoin related, it's evidently not $5000.

I think they'll stay put and do nothing, honestly. They've already shut down ICOs which is a huge deal in China, as well as BTCChina and ViaBTC exchange, which again, a huge deal.