China is going to rule crypto!

[gregall]

https://blokt.com/news/chinas-increasing-stake-in-crypto

Just came across this article about China's increasing stake in crypto. Kinda crazy to hear how even if the government is doing its best maintain control over blockchain, companies are still thriving. It seems like China is much more pro-blockchain and crypto than the rest of the world.

Any thoughts?

[boyptc]

I'm not updated anymore on what's the movement of crypto's on China after the ban they made for ICOs and trading but what I know was there's still a good number of crypto people out there, including investors and businesses.

They did even ruled and control the market before and right now, looks like they are pushing for more adoption to blockchain and crypto's.

[elda34b]

so they are more likely to acquire or use Blockchain as a currency

How can they use blockchain as currency?

I'm not really surprised with this progress, even though China ban ICOs, their part in crypto mining is apparent. It's just business as usual, and I believe they won't let this opportunity to slip away. However, it's important to note that blockchain is what being pursued, not essentially supporting cryptocurrency.

I doubt this won't change anything regarding their ban on ICOs though.

[coingecko]

Technically China could easily control any blockchain uses within the country itself. Simply because they have control over the internet in the country which is one of the necessity for public blockchains to work.

As for blockchain development and implementation, China has been investing billions in total to these development projects every year, no doubt their are ahead of the rest of the world. The question is whether they plan to share this knowledge outside of China.

[pooya87]

this seems to me like another one of those articles that tries so hard at exaggerating the position of China this time only because they have dedicated some funds to certain areas. although that amount is high but it doesn't mean they are going to "rule crypto". China is like many other countries that are trying to stay ahead of the curve when it comes to the blockchain technology and adopt it sooner than others. i still don't see anything there that gives them any more advantage to other countries.

[Kakmakr]

I disagree with you. China is all about control and Bitcoin does not give them control over many aspects of their citizens. They want to control capital flowing in and out of China and Bitcoin is borderless. They want to know what their citizens are spending their money on and Bitcoin is pseudo anonymous.

Japan will soon rule the Crypto currency scene, because they have none of these restrictions and their government is embracing the technology.  

[anodyne]

Is it true? Or just a rumor? When I first read it, I don't have a good feeling about it. Well or maybe I just don't like China to take over control the crypto currency. Honestly, I preferred it to be the Japan. But furthermore, the Bitcoin, having its own unique characteristics as a decentralized one is what best describe the entire crypto community.

[kingpin4321]

Chine is a big name when it come to cryptocurrency they even have there very own coin neo but also they are various country of the world that are also doing greatly as well and it's good to see that cryptocurrency is gaining much interest

[crwth]

The article tackled one of my questions in my head upon reading the title of this thread. Why would China rule Crypto when they are willing to ban ICO (good job because of the scams people try to pull off in it) and made an agreement where it’s not allowed to have exchanges etc. Some of the exchanges just moved from China Mainland to Hong Kong, which is essential, China as well. So doing that means it confused me that China still wants to be stronger and ahead of the “blockchain” that started it all.

It’s still early to say, but those investments toward improving their technology and research with regards to blockchain would definitely increase and put themselves steps ahead of the competition. It’s a race now between leaders.

[kelz1]

There are some solid projects in china like NEO and thekey but it is unlikely that they will control bitcoin. Bitmain is falling apart and they practically kicked out binance which was a dumb move

[rocketcoin88]

Neo is not important, just a pump an dump, but China does rule the encryption.
Because we have huobi binance okex bitfinex(hong kong) bitmain

[LTCendmanagement]

it means that China is a very lucky country, we always hope that in our country, even other countries that popularize this field will always continue to grow so we can only try here and pray that all thought will be better than the previous year.

[muslol67]

https://blokt.com/news/chinas-increasing-stake-in-crypto

Just came across this article about China's increasing stake in crypto. Kinda crazy to hear how even if the government is doing its best maintain control over blockchain, companies are still thriving. It seems like China is much more pro-blockchain and crypto than the rest of the world.

Any thoughts?

I think it's something that could be good for all of us. But we do not know about the content of the regulation. It is useful if they leave a living space for crypto coins.

[don_ricci]

I think it would be best if the governments do not manage or somehow regulate the cryptocurrency for their purposes, but simply cooperate or give people the right to perform operations with Bitcoin (or cryptocurrency in general). In this way, they can unleash the full potential of Bitcoin.

[McVillan]

I disagree with you. China is all about control and Bitcoin does not give them control over many aspects of their citizens. They want to control capital flowing in and out of China and Bitcoin is borderless. They want to know what their citizens are spending their money on and Bitcoin is pseudo anonymous.

Japan will soon rule the Crypto currency scene, because they have none of these restrictions and their government is embracing the technology.  

Agreed Japan already does in some respects - legislation + guidance already in place

[Cryptock]

The advantage of China is definitely the price of electricity, which attracts investors from around the world to build a cryptocurrency mine there. The Chinese government has long been interested in cryptocurrencies, but it seems to me that it is still afraid of decentralization and lack of control over the market. I think that the still valid communist system will be a big problem for cryptocurrencies and China will not be able to become a leader. I think the game will take place in the European Union. Take look on Switzerland or Malta.

[Bttzed03]

I am not sure about China ruling cryptocurrencies with all the bans they have there plus they already have their own platforms running digital payments. Maybe they can become number one adopters of blockchain technology.

[ShadowBits]

https://blokt.com/news/chinas-increasing-stake-in-crypto

Just came across this article about China's increasing stake in crypto. Kinda crazy to hear how even if the government is doing its best maintain control over blockchain, companies are still thriving. It seems like China is much more pro-blockchain and crypto than the rest of the world.

Any thoughts?

I really doubt that, because a lot of people may still buy crypto from any where around the world and China really can't take it all and why would they?

[bitfocus]

i doubt that, china is spreading blockchain adaption officially but miners are scattered, they might be in huge in numbers, but not going to dominate crypto.

[Lucius]

As a communist country China will never accept BTC as a legal means of payment, they will use only those coins which they can control and which are not decentralized. Their actions from the past show us in which direction they are actually going, and we can see that their main interest is in blockchain and development in that area.

It is amazing that a good part of the crypto world puts his hopes on China as a rescuer of cryptocurrency, and forget everything bad that has come from that country. It would be best for rest of the world to China is stay where they are now, let them play with blockchain and leave BTC to free world.