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Author Topic: [2013-12-16] China’s Statement on Bitcoin is Open to Interpretation  (Read 1244 times)
LiteCoinGuy
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December 16, 2013, 01:17:47 PM
 #1

China’s Statement on Bitcoin is Open to Interpretation

On 5th December 2013, the Chinese government released their first official statement on bitcoin, declaring, among other things, that it is not a currency.

Many western media outlets have since reported that bitcoin has effectively been banned from real-world use, including its use as a method of exchanging goods and services. These declarations are premature.


http://www.coindesk.com/bitcoin-china-statement-interpretation/

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callem
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December 16, 2013, 01:48:53 PM
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Very true, probably explains why we still have buying opportunities at <$1000

People who bought at single digit prices are still buying today. That says a lot.
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December 16, 2013, 02:18:17 PM
 #3

Its the weirdest thing in state controlled country. When something is prohibited, it actually gets ppl attention and they will all do it.

China government can only effectively stop btc being used as medium of exchange between merchants and customers..... but private transactions are gonna boom.

Ppl in China has been using gold in private transactions for many years.... The risk of being caught using gold is even higher!
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December 16, 2013, 05:46:12 PM
 #4

Great, balanced perspective
Tend to agree that the china doomsaying is premature, truth far more complex...

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December 16, 2013, 06:30:05 PM
 #5

China seems to do that a lot.  It's like they have their meetings and say they are going to revolutionize things, etc., but not much actually gets done like they said they will.  When I read this news out of China I was thinking it's not going to stop the Chinese from buying.  Even though it may have hurt the price a little.

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December 17, 2013, 12:55:43 AM
 #6

Well the damage is already done there doesn't seem to have much buyers from china

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December 17, 2013, 01:47:49 AM
 #7

Well the damage is already done there doesn't seem to have much buyers from china

Maby not using btc china for that Smiley witch would be logical if you want to avoid controls.


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nate008
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December 17, 2013, 06:46:02 AM
 #8

I think it is time to end with the China hype.
Bitcoin was used there mostly for speculation and day trading with the 0.0% fees and this isn't the purpose for which it was design.
It can crash back to 200 or 50 but if it gets used daily and for real transactions we can have a normal and natural healthy increase in value and use.
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