What's the real situation with China?

[pinksheep]

When you take away all the FUD, what exactly is the situation regarding BTC in China? Can the average Chinese person still buy it or have the regulations pretty much stifled that? Furthermore, is China's involvement really necessary for bitcoin's future success?

[Latinman]

You can use google translate and baidu search engine and check for yourself

[BitCoinDream]

When you take away all the FUD, what exactly is the situation regarding BTC in China? Can the average Chinese person still buy it or have the regulations pretty much stifled that? Furthermore, is China's involvement really necessary for bitcoin's future success?

Bitcoin is not country specific. So any specific country has no advantage at Bitcoin. But China has the largest population on earth. So they can create a lot of demand for Bitcoin that takes the price forward. But as Africa and other countries are joining in, China's demand creation ability will be nullified soon.

[pinksheep]

yes, I could use google translate but I'd probably get more FUD. Of course, I might get it here too 

[pinksheep]

and is Africa getting involved to any great extent?

[BitCoinDream]

and is Africa getting involved to any great extent?

This is not a company getting involved in a business. This is public adoption ...takes time.

[pinksheep]

I know it takes time & I can't see mass adoption anytime soon, so when I read these threads saying we'll be at $10,000 by Christmas & $100,000 at the end of 2015, I just don't know how that's going to happen. Of course, the price could go up in anticipation of wider adoption. In fact, I'd imagine that's what took it to over $1200 last year.

[pinksheep]

And do you think that China's position on BTC will change as it sees many other countries getting involved? Would it fear being left behind?

[Shogen]

And do you think that China's position on BTC will change as it sees many other countries getting involved? Would it fear being left behind?

China has strict capital control ,ie. people can't take the money out of the country freely.
So it is not a surprise to see the government fear of bitcoin, and not allowing Chinese people to buy and sell bitcoin easily.

[Acidyo]

The situation is literally this:
http://imgur.com/a/KDwtE

[Shogen]

The situation is literally this:
http://imgur.com/a/KDwtE

The strip is really hilarious, but it is so true.

[BitsBitsBits]

The situation is literally this:
http://imgur.com/a/KDwtE

Now that was funny! South park is awesome!:)

[durrrr]

yeah ive wondered the same thing what is the deal with china some people stand by that they have a huge impact on the price of bitcoin and others say its all bullshit. whats the truth?

[monsterbitty]

http://imgur.com/a/KDwtE

+1 to this image. The situation is just like this.

[notguessinchina]

Everything in China has not been fixed.
But some news reported Bitcoin and Altcoin will lose RMB supply from all banks.