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Author Topic: This is a historic moment about the price of BTC in China  (Read 220 times)
kidddwkr
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December 07, 2017, 02:47:40 PM
 #1

As usual, the price of bitcoin has risen again. The difference is that in China, today's price of BTC is monumental, which exceeds 100,000 RMB(yuan) per BTC .

If a Chinese man earns more than 100,000 yuan a year, his income can be called : oh ,not too bad .

Although the Chinese government does not support bitcoin trade and development, BTC and various blockchain technologies continue to grow rapidly in China. When is the end of bitcoin in China?

As a girl web developer, I wish I could witness the final miracle of bitcoin Wink
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December 25, 2017, 04:42:57 PM
 #2

Does anyone know of retailers which sell goods/services for crypto only with no option of payment made in fiat?
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December 25, 2017, 06:52:26 PM
 #3

So what is the "official" stance of the Chinese government in regards to Bitcoin and cryptocurrencies? Is it totally illegal in China? Or just the development of it? Since the majority of Bitcoin mining is in China how does that affect what the "official" stance is? Can Chinese use Bitcoin/cryptocurrencies in China or just hold it?

The information could go a long way to clarifying some issues with BTC in China and maybe help spur some interesting conversations/solutions.

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December 25, 2017, 07:22:09 PM
 #4

So let me get this straight, I want game/toy/whatever X for $20 I send you $20 worth of btc and you buy it for me?
bitbunnny
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December 25, 2017, 07:36:19 PM
 #5

So what is the "official" stance of the Chinese government in regards to Bitcoin and cryptocurrencies? Is it totally illegal in China? Or just the development of it? Since the majority of Bitcoin mining is in China how does that affect what the "official" stance is? Can Chinese use Bitcoin/cryptocurrencies in China or just hold it?

The information could go a long way to clarifying some issues with BTC in China and maybe help spur some interesting conversations/solutions.

As far as I know it's not completely illegal. But the thing is that the miners and exchangers have to be complied with very strict regulations and laws otherwise they can't run legitimate business and they probably have additional costs. At least that is my understanding of situation in China.
The bigest mining farms are still placed in China and I haven't heard information that they stoped mining or that they have moved elsewhere.

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baradfo
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December 26, 2017, 05:58:33 PM
 #6

So what is the "official" stance of the Chinese government in regards to Bitcoin and cryptocurrencies? Is it totally illegal in China? Or just the development of it? Since the majority of Bitcoin mining is in China how does that affect what the "official" stance is? Can Chinese use Bitcoin/cryptocurrencies in China or just hold it?

The information could go a long way to clarifying some issues with BTC in China and maybe help spur some interesting conversations/solutions.

As far as I know it's not completely illegal. But the thing is that the miners and exchangers have to be complied with very strict regulations and laws otherwise they can't run legitimate business and they probably have additional costs. At least that is my understanding of situation in China.
The bigest mining farms are still placed in China and I haven't heard information that they stoped mining or that they have moved elsewhere.

Thank you for the clarifications. With all the additional regulations, is it possible that the companies that could would move their operations to another location that is more amenable to them being there without the additional costs? Of course this would happen over a period of time as to not hamper their operations too much.

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December 26, 2017, 08:04:10 PM
 #7

Is there any Supermarket or Malls Accept Bitcoin near you ?
ldah94
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December 27, 2017, 02:40:51 PM
 #8

So what is the "official" stance of the Chinese government in regards to Bitcoin and cryptocurrencies? Is it totally illegal in China? Or just the development of it? Since the majority of Bitcoin mining is in China how does that affect what the "official" stance is? Can Chinese use Bitcoin/cryptocurrencies in China or just hold it?

The information could go a long way to clarifying some issues with BTC in China and maybe help spur some interesting conversations/solutions.

As far as I know it's not completely illegal. But the thing is that the miners and exchangers have to be complied with very strict regulations and laws otherwise they can't run legitimate business and they probably have additional costs. At least that is my understanding of situation in China.
The bigest mining farms are still placed in China and I haven't heard information that they stoped mining or that they have moved elsewhere.

Thank you for the clarifications. With all the additional regulations, is it possible that the companies that could would move their operations to another location that is more amenable to them being there without the additional costs? Of course this would happen over a period of time as to not hamper their operations too much.

After most of the exchange closures in China, many miners were apparently preparing for the worst, with some plans to move to neighboring countries or very cold areas, such as Iceland. Currently I do not know why they are kept in China, but I suppose that China will not allow its miners to leave so easily from the country, knowing that they represent the highest percentage of bitcoin mining.

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baradfo
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December 27, 2017, 06:58:00 PM
 #9

So what is the "official" stance of the Chinese government in regards to Bitcoin and cryptocurrencies? Is it totally illegal in China? Or just the development of it? Since the majority of Bitcoin mining is in China how does that affect what the "official" stance is? Can Chinese use Bitcoin/cryptocurrencies in China or just hold it?

The information could go a long way to clarifying some issues with BTC in China and maybe help spur some interesting conversations/solutions.

As far as I know it's not completely illegal. But the thing is that the miners and exchangers have to be complied with very strict regulations and laws otherwise they can't run legitimate business and they probably have additional costs. At least that is my understanding of situation in China.
The bigest mining farms are still placed in China and I haven't heard information that they stoped mining or that they have moved elsewhere.

Thank you for the clarifications. With all the additional regulations, is it possible that the companies that could would move their operations to another location that is more amenable to them being there without the additional costs? Of course this would happen over a period of time as to not hamper their operations too much.

After most of the exchange closures in China, many miners were apparently preparing for the worst, with some plans to move to neighboring countries or very cold areas, such as Iceland. Currently I do not know why they are kept in China, but I suppose that China will not allow its miners to leave so easily from the country, knowing that they represent the highest percentage of bitcoin mining.

I figured that the miners would stay in China for the electricity from the Three Gorges Dam, I'm told it's pretty cheap in Sichuan. As long as the regulations aren't hindering too much they'll probably stay there. But I'm ignorant as to what regs are coming down from the Chinese government. It's a good theory that the Chinese government won't allow the miners to leave since the largest pools are pretty much there.

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December 27, 2017, 11:55:42 PM
 #10

As usual, the price of bitcoin has risen again. The difference is that in China, today's price of BTC is monumental, which exceeds 100,000 RMB(yuan) per BTC .

If a Chinese man earns more than 100,000 yuan a year, his income can be called : oh ,not too bad .

Although the Chinese government does not support bitcoin trade and development, BTC and various blockchain technologies continue to grow rapidly in China. When is the end of bitcoin in China?

As a girl web developer, I wish I could witness the final miracle of bitcoin Wink

I do think that price of one bitcoin is indeed a "not to bad" amount as a yearly income in most countries. So I guess there is no surprise there. However, the push from the chinese government to restrict bitcoins and cryptocurrencies are quite a problem recently and I don't think it has a good effect. It is hurting the progress of bitcoins in china and else where. Probably china would not be the safe haven people though it would be.

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yesuidanggan
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January 11, 2018, 10:16:27 AM
 #11

In China, although the currency trading though forbidden, even visit the bluetail ticket tracker (BTT) BBS through special method to finish, but the Chinese are still a lot of people involved in the currency deal, many people still tried to do this! Imagine what it would be like to develop bitcoin in China!

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January 13, 2018, 09:44:48 AM
 #12

COINS regulated in China, they through the electricity, land, taxes and the policy of environmental protection, increase the cost of mining the currency, this led to many miners began to flee China, and the currency trading platform in China also closed, digital currency block chain development in China is very difficult!
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January 18, 2018, 12:42:54 AM
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China is completely banning the ico project!
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January 18, 2018, 01:59:49 AM
 #14

COINS regulated in China, they through the electricity, land, taxes and the policy of environmental protection, increase the cost of mining the currency, this led to many miners began to flee China, and the currency trading platform in China also closed, digital currency block chain development in China is very difficult!
China is deliberately lowering bitcoin prices for speculation, I'm sure this is true. The bad news in the recent days of bitcoin price cuts is mostly coming from China and it is very doubtful that China is the market that holds the most bitcoins and is sure that they will not want their assets. loss. China is clearly showing its speculative plot. You should be careful in this sensitive time.

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