THE PROBLEM IN CHINA IS THE BITCOIN FOUNDATIONS FAULT

[usscfounder]

THE PROBLEM IN CHINA IS THE BITCOIN FOUNDATIONS FAULT

If the elitist members of the foundation had remembered the Bitcoin is a GLOBAL currency and not an American currency, they would have bothered to kiss the asses of the Chinese bureaucrats like they did in the senate.  Instead they left all the ass kissing up to a single Chinese businessman who was completely clueless in one of the most important markets in the cryptocurrency trade.

A plane ticket to china is not that expensive.  They couldn't give up some of their bitcoins just to fly to Beijing themselves?

[1715488372]

1715488372

[1715488372]

1715488372

[TippingPoint]

It is not too late.

Send Dennis Rodman.

[jones31]

Do you really think the Chinese government would have listen to some foreigners?
They don't listen to their own people.

Also , there is nothing wrong with their decision. The problem lies with people not understanding what the decision was about and panicking like there was no tomorrow.

[beetcoin]

like ^ said, why would they listen to foreigners? china don't give a fuck, they are going to do what they want to. and kissing ass doesn't do shit, only buying out does.

[QuestionAuthority]

Now that's an interesting take on the situation. The kissing of American bureaucratic ass gained us what exactly?

[Mjbmonetarymetals]

There isn't any problem with Bitcoin in china, it's in the process of being regulated as a virtual commodity rather than a currency which is a good thing, baidu and china telecom have temporerily suspended Bitcoin acceptance while digesting this new regulation.

The west and media in general have been practically throffing at the mouth about a bubble pop,folks here selling who have no idea what in the world their doing, Bitcoin is truly shaping up to be the people currency pity at this point people are still in love with the devaluing dollar.

Bitcoin - a few weeks of recovery then new highs.

[cdtc]

Nothing really bad happened in china, they just stated the already known facts.

[QuestionAuthority]

Now that's an interesting take on the situation. The kissing of American bureaucratic ass gained us what exactly?

Dirty lips.

Rimjob benefit only. lol

[xephireusMMX]

Now that's an interesting take on the situation. The kissing of American bureaucratic ass gained us what exactly?

Good publicity. Being hostile does not help Bitcoin adoption

[Alpaca Bob]

Nothing is stopping a bunch of Chinese bitcoiners from starting their own foundation.

I do, however, agree that we should refer to the Bitcoin Foundation as the American Bitcoin Foundation, since that's what it is.

That's not even meant to be snarky or ill-meaning, it's just... pretty clear that they are all-American.

[QuestionAuthority]

Now that's an interesting take on the situation. The kissing of American bureaucratic ass gained us what exactly?

Good publicity. Being hostile does not help Bitcoin adoption

Please provide the link of us being hostile to China. Did a representative from China ask for TBF to come to Beijing and make a presentation?

[xephireusMMX]

Now that's an interesting take on the situation. The kissing of American bureaucratic ass gained us what exactly?

Good publicity. Being hostile does not help Bitcoin adoption

Please provide the link of us being hostile to China. Did a representative from China ask for TBF to come to Beijing and make a presentation?

You asked "The kissing of American bureaucratic ass gained us what exactly?"
If not kissing American bureaucratic ass, we could ignore them, but what would be the point ?

[beetcoin]

kissing a politician on the ass is the same as kissing them on their mouth. you are putting your lips where a lot of shit comes out of.

[Siegfried]

There isn't any problem with Bitcoin in china, it's in the process of being regulated as a virtual commodity rather than a currency which is a good thing, baidu and china telecom have temporerily suspended Bitcoin acceptance while digesting this new regulation.

The west and media in general have been practically throffing at the mouth about a bubble pop,folks here selling who have no idea what in the world their doing, Bitcoin is truly shaping up to be the people currency pity at this point people are still in love with the devaluing dollar.

Bitcoin - a few weeks of recovery then new highs.

I agree. I thought the point of bitcoin was to replace the fiat/fractional-reserve financial system, not be integrated into it. So why are people worried that Chinese financial institutions cannot be involved in bitcoin? This is not a bad thing.

[lindatess]

One of the CPC's goals is to stay in power.

If someone doesn't give them a majority of bitcoins, then they would not be satisfied. Even the litecoin founder got scammed big time. I wouldn't be surprised if there is a warrant out for him.

[BTCisthefuture]

I have to agree with others, I don't see how some random foreigners would be able to fly to beijing and meet with government leaders and have any real impact on how the government chooses to manage it's own financial situations in China.

Unless your someone really important like a high ranking government offical from America, I would have to assume you can't just book a flight to Beijing and start hanging out with government officials who would have much influence in this type of decision making.

With that said, the OP does make an interesting point that maybe the Bitcoin foundation should work on building closer connections in other countries. Not sure how realistic that is but it certainly wouldn't hurt I don't think.

In china everything tends to come down to something called 关系 (connection/relationship). It can be quite hard to get the 关系 needed in China to have influence on government matters like that, especially if you aren't Chinese.  Probalby wouldn't hurt though for the bitcoin foundation to reach out to some of the leaders in the bitcoin community in China and start building some relationships.


edit: It's also worth pointing out it was the US Government that held the meeting and invited the bitcoin foundation and other people. It's not like the bitcoin foundation reached out to congress and had a metting set up.

[elbill]

THE PROBLEM IN CHINA IS THE BITCOIN FOUNDATIONS FAULT

If the elitist members of the foundation had remembered the Bitcoin is a GLOBAL currency and not an American currency, they would have bothered to kiss the asses of the Chinese bureaucrats like they did in the senate.  Instead they left all the ass kissing up to a single Chinese businessman who was completely clueless in one of the most important markets in the cryptocurrency trade.

A plane ticket to china is not that expensive.  They couldn't give up some of their bitcoins just to fly to Beijing themselves?

+1


BITcoin is NOT USAcoin

The foundation should actively protect bitcoin in:

China, USA and Europe, not only USA.

[saddambitcoin]

Bitcoin Foundation has better shit to do!!!

focus on the Bitcoin Protocol and improving the f*******ing client !!!  make the network secure!!!!  they do all of this and more and don't ask for much.

if you ask me the "problem" in china is not a problem only a misunderstanding in translation igniting an already panicked atmosphere,===

[BTCisthefuture]

Nothing really bad happened in china, they just stated the already known facts.

I'm not educated enough on the issue to really say one thing or another, and certainly China and the way the government works or makes quick decisions can sometimes be really hard to fully understand.  

I do wonder though what kind of impact this will have on the expansion of businesses in China accepting bitcoin. If finincal institutions aren't/can't get too involved it could really put a road block on more businesses accepting bitcoin, especially considering how many businesses in China have direct connections to the government,  no ?

Both Baidu and China Telecom back tracking and choosing not to accept bitcoin certainly casts a negative light on things in my opionon. Is it an indicator that other large companies with close ties to the governmetn are now going to have the same viewpoint in regards to bitcoin.  Such a shame too, I was considering buying a smartphone through China Telecom when they announced people could pay with bitcoin .

[balanghai]

It is not too late.

Send Dennis Rodman.

Hahaha this made me laugh but sorry it was in North Korea!