Chinese citizens could safely hold Bitcoin

[DmitFomin]

There are many Chinese people who want to invest in Bitcoin, so the fewer bans and the easier it is to buy it, the better for the entire crypto industry.  Especially now in China is a difficult economic situation and it would be right for them to soften their policy on cryptocurrencies to reduce the impact of sanctions from the USA.

[uray]

However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.

What you think about it?

So only exchanges are banned in China and anyone could trade bitcoin with exchanges from outside the country and P2P and OTC trading is legal, right now China is not in the map when it comes to bitcoin, earlier i still remember every news coming out from China could change the market situation and the amount of FUD and FOMO during those times we high, glad that it is all over and the government put an end to all those speculations.

[bitbenzhong]

in china,many people use otc trading,becase this is personal to personal trading,they cann't stop it,news is faker

[crzy]

There are many Chinese people who want to invest in Bitcoin, so the fewer bans and the easier it is to buy it, the better for the entire crypto industry.  Especially now in China is a difficult economic situation and it would be right for them to soften their policy on cryptocurrencies to reduce the impact of sanctions from the USA.

Its good for the investors and Chinese government should not also make pressure for cryptomining because they also need to have a good miners. China should be more wise, cryptocurrency can be a great solution for solving the problem but i hope more countries will allow their people to use cryptocurrency.

[ttcsalam]

China is a big country. From technology and they are many tie forward from other countries. If they join, good news. Although this news is generally positive, it should be taken with a certain amount of caution for reason we are talking about China here. Their attitude toward cryptocurrency is still fairly unclear, what is legal today does not mean that it will be the same tomorrow.

[Natalim]

Probably this would mean more demand of bitcoin, being one of the biggest country in the world and have a lot of active investors, this would probably mean a positive thing to the market. I wouldn't be surprise to see bitcoin pumping sooner than what we expected due to the big volume that would be coming from them.

[markdario112616]

Probably this would mean more demand of bitcoin, being one of the biggest country in the world and have a lot of active investors, this would probably mean a positive thing to the market. I wouldn't be surprise to see bitcoin pumping sooner than what we expected due to the big volume that would be coming from them.

Might as well as negative, I guess? *In far far galaxy* Given that the Chinese or China in general is huge in volume, Manipulation could be anywhere near. Given that there are also a lot elites and powerful Chinese, that could easily done it nor connive to the extent of beneficial interests to them.

Though, For us, let's just see brighter side of it. Bitcoin's market would surely be interesting once these Chinese play there money out there. Supply and demand for Bitcoin surely be active at this point *if ever*

[0zero0]

They've ALWAYS been able to safely hold Bitcoin. What's been prohibited is the centralised trading of it and businesses using it. Anyway government attitudes can turn on a dime, or turn out to be a load of shit all along. We no longer need to care about China and that's a good thing.

Agree to it. China had banned trading and mining of crypptocurrencies but not holding them. Things will matter only when the Chinese government decide to uplift the ban from trading and mining of cryptocurrencies.
China had been a huge contributor in the crypto market. If the trading ban gets uplifted then we could easily see a spike of a few thousand dollars in bitcoin's price.

[Sabrin]

This is really a good news for Chinese people who trade Bitcoin.
Moreover, the growth of bitcoin may have risen. Because china has a vast population ( traders)  to use Bitcoin as digital currency 

[dr.cheema]

This kind of positive news hype Bitcoin price and the whole crypto market but i think bitcoin is not officially legalize in china.
However, china citizens can trade and hold crypto legally, in case in near future china legalize crypto in their country so we could see big rise in crypto.
https://www.btcwires.com/c-buzz/china-legalizes-peer-to-peer-otc-trading-and-allows-citizens-to-hold-bitcoin/ 

[maldini]

As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal".

However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.

What you think about it?

Is this news correct? is this the official statement of the Chinese government to legalize bitcoin?
Sounds a little strange, before China bombarded miners, banned bitcoin and anything about crypto even though it wasn't all. And now I hear this news, just like a joke.

[Adriano2010]

Well if i'm not wrong i think that only mining was banned and not bitcoin, so i think people from China can still buy and trade bitcoin and hold, i read here on forum that only mining will be stopped.

[Mike Mayor]

I don't think it matters. THere is also no way the goverment can do anything about it. Noone knows you a bitcoin holder to begin with. This changes nothing.

Well if i'm not wrong i think that only mining was banned and not bitcoin, so i think people from China can still buy and trade bitcoin and hold, i read here on forum that only mining will be stopped.

SO the rest of us can have a chane trying to compete with their free electricty.

[MakeMoneyBtc]

I don't think there is anything new to find out here. You want to tell me that before this decision was made no one from China hold Bitcoins in their wallets? I tell you that more than 80% of the bitcoin holders kept their bitcoins even though China banned it before because they knew there is nothing they can do to them. So, dont expect to see any major impact on the price because of this news.

[AjithBtc]

They've ALWAYS been able to safely hold Bitcoin. What's been prohibited is the centralised trading of it and businesses using it. Anyway government attitudes can turn on a dime, or turn out to be a load of shit all along. We no longer need to care about China and that's a good thing.

Once China played a big role with bitcoin, even now it has its own contributions. People always with the past thinking exaggerate each and every activity that happen in China. As more and more governments begin to adopt the technology which is the base for the usage of bitcoin provides with a better support in growth.

[pushups44]

As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal".

However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.

What you think about it?

Yes, it is a positive development for Chinese citizens that they can own bitcoin, and doing so will serve as a store of value similar to gold. These investors then can spend their bitcoin abroad or when finally China has the sense to legalize its trading.

[Cosbycoin]

They've ALWAYS been able to safely hold Bitcoin. What's been prohibited is the centralised trading of it and businesses using it. Anyway government attitudes can turn on a dime, or turn out to be a load of shit all along. We no longer need to care about China and that's a good thing.

Agree to it. China had banned trading and mining of crypptocurrencies but not holding them. Things will matter only when the Chinese government decide to uplift the ban from trading and mining of cryptocurrencies.
China had been a huge contributor in the crypto market. If the trading ban gets uplifted then we could easily see a spike of a few thousand dollars in bitcoin's price.

Yes even I agree that if the chinese government uplifts the ban from cryptocurrency trading then there surely would be hike in the price for bitcoins. As per the market research, most of the big whales are from China so their presence really matters a lot in terms of the price. China should take the step to legalize bitcoins and I think that after doing this they could really make a bright future and also the economy of the county would sky reach. There are times when the prices for bitcoins are been affected with any minor news and any huge news from china would surely lead in the huge price fluctuation which might be the start of the bull markets.

[blockchainwriters]

this is really good news for every one now chinese investors got clarity regarding holding btc and they can send peer to peer as per chinese lawyer stated

[Kiweikoo]

As title said "Chinese citizens could safely hold Bitcoin", just read a article from Ethereumworldnews, you might read that article for more details "China: Hodling Bitcoin (BTC) and P2P OTC Trading is Legal".

However, this is a good news for Chinese crypto users. They could hold bitcoin legally without fear of government. I think the positive impact of this news would reflect on bitcoin price.

What you think about it?

China is already been struggling with various such blockchain network issues. I think china also took the initiative to ban the cryptocurrency exchanges so we could not really know what they are thinking upto. China is a nation with completely different mentality. They don't even use YouTube or facebook. Chinese peoples have showed immense growth in the blockchain technology and also there are a lot of multi-national companies launched in chin which have their successfully completed ICO's which collected billions. The government from china might take a good initiative to make the peoples feel safer with respect to their blockchain transactions.

[michellee]

This is really a good news for Chinese people who trade Bitcoin.
Moreover, the growth of bitcoin may have risen. Because china has a vast population ( traders)  to use Bitcoin as digital currency 

We could hope that it will still support bitcoin itself because when they still use bitcoin, they are helping bitcoin to grow in their country and I am sure that in the other country, the same thing will happen. We know that China has a large population, and if the number of people who uses Bitcoin is more than 20-30% of the total population, then it really helps the bitcoin growth.