Advantages of cryptocurrencies for China

[FengShuii]

Cryptocurrencies will disrupt the entire market, this is no surprise. But China is one of the most growing ones, I hope they will take the chance and be leading in cryptocurrencies. Do you see also advantages for China to do so?

[dewildance]

Cryptocurrencies will disrupt the entire market, this is no surprise. But China is one of the most growing ones, I hope they will take the chance and be leading in cryptocurrencies. Do you see also advantages for China to do so?

There are too many prohibitions on cryptocurrencies in China. I don't know what will happen in the future, but China is not the right place.

[nthere]

Even Binance moves its operation to the Malta. There are some various crypto legal friendly countries in the world but China is not one of them.

[pawel7777]

Even Binance moves its operation to the Malta. There are some various crypto legal friendly countries in the world but China is not one of them.

Yup, the problem with China is even if they were friendly, they have history of changing their stance overnight, catching everyone by surprise and instability is a huge detractor.

Also, China is heavily invested in gold, likely anticipating collapse of the debt-based western currencies and return to gold standard. Bitcoin, often referred to as 'new gold' can potentially become serious competitor to the actual gold, and therefore can be seen as a threat by China. Some speculate that Bitcoin was a CIA project started to hinder China's strategy.

[tycsols]

I think crypto is win win for China, as they are number one manufacturers and suppliera of everyday products and the largest exporters to the world so by accepting payments by crypro they can make trading more efficient, easy and reduce costs of payment transfers and foreign exchange etc.

[edmundo]

Cryptocurrency as we all know have come with a lot of innovations. Some of the advantages of cryptocurrency is decentralized exchange. With this, projects are now looking for a way to join the cryptocurrency field. Cryptocurrency has brought about a change in turn around time. It has also presented an opportunity for investment.

[drants]

Cryptocurrencies will disrupt the entire market, this is no surprise. But China is one of the most growing ones, I hope they will take the chance and be leading in cryptocurrencies. Do you see also advantages for China to do so?

China is full of clever people, i guess they will find a proper way of using it. to be honest, i hope that China will set up a good example for other countries and so everyone would see it's not that terrifying

[Who I]

It seems to me that because of the large population in China, the cryptocurrency, will make a big impact on the economy. Stronger than in other countries

[takngantuk]

Even Binance moves its operation to the Malta. There are some various crypto legal friendly countries in the world but China is not one of them.

yes I agree with you that China still cannot be a friendly country with crypto. they still think crypto is less profitable for him.

[Perfect35]

I believe cryptocurrency is still in use in China, it's just that it is not yet official. I have seen quite some number of people, most especially those i know, whom are merchants. They buy goods from China using cryptocurrency and that has made the transaction between both parties to be easier. The only issue China may have on this, is the tax evasion, which most government are agitating for.

[Red-Apple]

i can't think of any reason why cryptocurrencies are specifically advantageous for China. they have their own advantages but they have those for anybody from any country all over the world. there is no specifics to any country in my opinion.

there are certain aspects of the technology that they have been enjoying more. such as mining and also trading but i wouldn't still call it an advantage for Chinese.

[mahilchii]

It seems to me that because of the large population in China, the cryptocurrency, will make a big impact on the economy. Stronger than in other countries

Definitely a larger populated country will make a huge impact on crypto value, it can change the economy of entire country. China is a extreme powerful country in the world also they are largest exporters across the globe if the government say to use the coin as official I sure cryptocurrencies will skyrocket again.

[oioioi]

each country has the same opportunity to develop cryptocurrency extensively, and China has become one of the big developers so that the development of crypto in that country has become an integral part, even has a remarkable turnaround, but don't forget countries like USA and Russia that have the same potential

[l10no]

Now China is the country with the largest economic turnaround in the world, and it is not surprising that the country is developing cryptocurrency very well, but the ongoing industry competition that affects global finance does not make China be the cryptocurrency center easily, it takes a very long process for that, but it seems that this country has a high level of trust

[Yaunfitda]

Cryptocurrencies will disrupt the entire market, this is no surprise. But China is one of the most growing ones, I hope they will take the chance and be leading in cryptocurrencies. Do you see also advantages for China to do so?

Well they already put a hammer ban on their local exchanges and ICO's so I don't think that they are fond of cryptocurrencies. Besides, they know that crypto's will disrupt them in either way so I don't think that they will accept that idea as we all know that China wanted everything to be under the control of thei government so forget about them.

[grendel25]

Cryptocurrencies will disrupt the entire market, this is no surprise. But China is one of the most growing ones, I hope they will take the chance and be leading in cryptocurrencies. Do you see also advantages for China to do so?

Yes, it is inevitable for China and other large markets to take advantage and prosper from the blockchain revolution.  Despite the current lull in cryptocurrency markets, not much has changed regarding blockchain progress in the way of integration and adoption.  

In fact, it is not easy to find retailers that have stopped taking cryptocurrency as a payment method.  I couldn't find any when I searched "online retailers that have stopped accepting cryptocurrency" in Google.  Why would they?  A sale is a sale even if they immediately liquidate the digital asset for cash.  

Asides from China, another thing to consider is other markets that are even more traditional and conservative than Chinese markets.  Look at the wealth of South America.  Brazil is a huge and largely untapped potential to grow cryptocurrency markets.

[Ayobami99]

Cryptocurrencies will disrupt the entire market, this is no surprise. But China is one of the most growing ones, I hope they will take the chance and be leading in cryptocurrencies. Do you see also advantages for China to do so?

Sure i believe china will be one of the leading countries in crypto soon especially if they come through with the tokenization of their currency which is being proposed recently

[olubams]

No matter the advantages that crypto currency offers for an economy whether China or the United States, the government knows but the question is, can they match it with the cost that comes with it based on their own perspectives which is what determines the attitude any government will display towards crypto currency. Unless those costs or disadvantages can be overcome or there is a higher necessity to push forward the advantages, its not going to change till the near future.

[musaonliner]

China is a large country of the world. China population huge, if china accept crypto then china people will involve in crypto then crypto demand will be increase. Moreover crypto market will be grow up.     

[Jadz]

I definitely see advantages for China, at least in the field of payments. And most likely China will support local blockchain startups.