Chinese citizens could safely hold Bitcoin

[XinXan]

To be honest, the crypto community got tired of China and all the FUD coming from there, ban, no ban, ban again. At this point it doesn't affect the market anymore and frankly it shouldn't, bitcoin is supposed to be a decentralized coin, we should not depend on 1 country, we should not depend on anything but ourselves, as long as there is a few people mining and a few people using it, bitcoin will always exist.

[diazepam666]

Chinese entraprunars are come up with the more investment on crypto field. Mining, trading, mining equipment selling, lending and so on. In that meanwhile, I have came across the thread which said bitcoin is for scammers.

These people needs to read the thread like this and should know how ideal Chinese are hodling and planning for future utilisation.

[Micerker]

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?

This is positive information that helps Chinese investors can continue to invest and hold on to Bitcoin. This is an excellent move to help improve stress when the government makes a draft of the new ban related to Bitcoin mining in this country. I hope that this national government should accept Cryptocurrency and promote it to grow.

[hatshepsut93]

I don't think Chinese people can do anything at all safely, Chinese government can easily outlaw anything on a whim and quickly start prosecuting people - they can do this with crypto, they can do it with hobbies, they can do it with religion, political and philosophical opinions and so on. It's cool that they seem to not prosecute Bitcoin today, but I don't trust them to not change their stance in the future.

[Ryan Dugan]

To be honest, the crypto community got tired of China and all the FUD coming from there, ban, no ban, ban again. At this point it doesn't affect the market anymore and frankly it shouldn't, bitcoin is supposed to be a decentralized coin, we should not depend on 1 country, we should not depend on anything but ourselves, as long as there is a few people mining and a few people using it, bitcoin will always exist.

I completely agree with you. A little more then a year ago what China did seemed to effect bitcoins price and I didn't understand it then even. At least everyone has come around. I say leave them behind.
Them with their big mining machines owning the market with almost free power. It is just not fair.

[kanayaTabitha]

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 might have a positive impact on the price of bitcoin because most of the bitcoin holders are in China. as we saw in the 2017 defense when the Chinese government banned the ICO and it was very bad for the price of bitcoin. and now many things are beneficial if the country uses the blockchain as a tool for present and future transactions. hopefully this will be a better start for crypto investors.

[kamilah147]

To be honest, the crypto community got tired of China and all the FUD coming from there, ban, no ban, ban again. At this point it doesn't affect the market anymore and frankly it shouldn't, bitcoin is supposed to be a decentralized coin, we should not depend on 1 country, we should not depend on anything but ourselves, as long as there is a few people mining and a few people using it, bitcoin will always exist.

I completely agree with you. A little more then a year ago what China did seemed to effect bitcoins price and I didn't understand it then even. At least everyone has come around. I say leave them behind.
Them with their big mining machines owning the market with almost free power. It is just not fair.

it is true that China affects the price of btc, of course they are mining with almost free power. more terrible if they lead the crypto market

[Mr.ZODIAC]

To be honest, the crypto community got tired of China and all the FUD coming from there, ban, no ban, ban again. At this point it doesn't affect the market anymore and frankly it shouldn't, bitcoin is supposed to be a decentralized coin, we should not depend on 1 country, we should not depend on anything but ourselves, as long as there is a few people mining and a few people using it, bitcoin will always exist.

I completely agree with you. A little more then a year ago what China did seemed to effect bitcoins price and I didn't understand it then even. At least everyone has come around. I say leave them behind.
Them with their big mining machines owning the market with almost free power. It is just not fair.

it is true that China affects the price of btc, of course they are mining with almost free power. more terrible if they lead the crypto market

I have repeatedly met in the media news that almost 60 and 70% of the total number of miners are Chinese.  Based on this, it can be assumed that China controls Bitcoin more than anyone.  But there are a lot of questions about the relatively legal use of Bitcoin in China, because the government is making adjustments to the financial freedom of its citizens.

[bitcoindusts]

What is perhaps somewhat safe to say according to this article is that holding of BTC is not illegally in China, but as for the trading the situation is not clear, although the OTC is mentioned as legal, fact is also that there is "no law that expressly says so". In other words this way of trade can be interpreted as legal or illegal as well, which means that the authorities can act differently, ie that all traders are not equal in the eyes of the law.

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.

I understand but as long as they have no regulations or law imposed against it or against the use of it then it is still consider legal unless they have issued a written decree to restrict or prohibit then will only be considered illegal.

[Wolfwar]

We constantly hear in the media certain news about problems in the Chinese state, when the government aggravates the activity of users of cryptocurrency.  Nevertheless, more than half of all Bitcoin turns are controlled by the Chinese miners.

[yesyes18]

And that's one good thing about crypto that we've all been praising for long: no one can actually stop you from holding Bitcoin. Moreover, China's law on cryptos especially pertaining to trading hasn't been so plain until now. I know that trading is banned there but don't know about OTC until now. Anyways, if it's not illegal to hold it, then I guess it isn't illegal to do person to person transfer then.

[jakelyson]

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 might have a positive impact on the price of bitcoin because most of the bitcoin holders are in China. as we saw in the 2017 defense when the Chinese government banned the ICO and it was very bad for the price of bitcoin. and now many things are beneficial if the country uses the blockchain as a tool for present and future transactions. hopefully this will be a better start for crypto investors.

If only P2P OTC trading is legal, then this will not have any effect on the price of bitcoin. The only give away we can get from here is that this is a positive news coming from China that concerns bitcoin.

[therhslv]

Anyway if goverment would not allow you to hold crypto , there is plenty of ways to do it and nobody even will notice . Ok when you want to cash out then you will have to find a peer2peer people to give you cash or you can just travel to another country , cashout there and go back =D There was article about India new law if i remember correctly that you can get 10 years in prison if you are associated in any way with crypto :/