Chinese Media Is All Praises For Bitcoin

[MoneyVtas]

Prominent Chinese media houses love Bitcoin and believe that the number one cryptocurrency is a safe haven asset given rising tensions in the socio-political relations among global economic powerhouses....read more

https://www.cryptoknowmics.com/crypto/chinese-media-is-all-praises-for-bitcoin/

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[aad140386]

I would not greatly happy this news, as this may be an isolated case. In addition, China is a state with rigid censorship and the attitude to cryptocurrency on the part of the state is not very positive. Media in general is not worth much trust. When bitcoin fell, almost everyone wrote that cryptocurrency is a scam, that they are not secured and because of them many people lost their money, but as soon as bitcoin began to grow again, it suddenly became the hope of the future, breakthrough technologies and opportunities protect yourself from inflation and stress in the global financial market.

[dothebeats]

Aren't media outlets in China owned by the government? If that's the case, this means that the Chinese are softening up for bitcoin and could potentially issue yet another statement regarding their support for bitcoin and other related services. Or it could just be another statement to piss off the Americans, knowing that the USD has been pretty much weakening as days are passing by. Either way, the Chinese are planning to get involved by prepping up the media, and releasing such statements just helps with that.

[dmty.0809]

Although bitcoin has not been fully accepted by the Chinese government, one of the oldest science and technology media in the country, the Beijing Sci-Tech Report (BSTR) recently announced that it will start accepting Bitcoin in 2019. The BTC crypto currency is planned to become one of the payment tools that visitors can use to pay subscription fees at BSTR. Because of the high volatility of Bitcoin, BSTR says if prices increase rapidly in 2020, they will provide a refund to visitors who pay subscription fees with Bitcoin.

[nicko122]

Prominent Chinese media houses love Bitcoin and believe that the number one cryptocurrency is a safe haven asset given rising tensions in the socio-political relations among global economic powerhouses....read more

https://www.cryptoknowmics.com/crypto/chinese-media-is-all-praises-for-bitcoin/

Bitcoin’s status as a hedge against uncertainty also gains further significance when compared with the performance of mainstream haven assets like gold, and currencies like the Swiss franc and the Japanese yen.

[lucho1592]

Either way, the Chinese are planning to get involved by prepping up the media, and releasing such statements just helps with that.

By the way, you're right, maybe this is a way to piss off Americans, the first step in a media war

[stompix]

Aren't media outlets in China owned by the government? If that's the case, this means that the Chinese are softening up for bitcoin and could potentially issue yet another statement regarding their support for bitcoin and other related services. Or it could just be another statement to piss off the Americans, knowing that the USD has been pretty much weakening as days are passing by. Either way, the Chinese are planning to get involved by prepping up the media, and releasing such statements just helps with that.

Probably the second.
I really doubt the government would try to lead people into buying bitcoin since they know its the perfect solution to avoid capital control.
I would rank it along with the same propaganda Russia is spawning every month about de-dollarization.

Besides, its China...we all know they say a thing 1000 times just to do the opposite.

China has become a very progressive country using all modern technologies. I would not be surprised if they are the first to start using bitcoin everywhere.

No, the won't be able to do it since a lot of countries are well ahead of them
Read the drama of trying to use bitcoin in China...she couldn't even get something to eat for bitcoin and that was in Beijing not some forgotten village in the mountains.

[kryptqnick]

Aren't media outlets in China owned by the government? If that's the case, this means that the Chinese are softening up for bitcoin and could potentially issue yet another statement regarding their support for bitcoin and other related services. Or it could just be another statement to piss off the Americans, knowing that the USD has been pretty much weakening as days are passing by. Either way, the Chinese are planning to get involved by prepping up the media, and releasing such statements just helps with that.

I guess you are right that this position reflects the official governmental position. After all, China scored 177-th out of 179 in the Freedom of Press list, being only above Noth Korea and Eritrea: https://rsf.org/en/ranking. I guess this means that even something slightly against the official position wouldn't reach the news portals. It indeed might be that following the tensions between China and the US, the former might now be considering Bitcoin as an alternative for USD. However, I am also not sure this indicates that the policies are changing. After all, it might be that China wants to own a lot of BTC as a state, but doesn't want its citizens to do the same thing, because it will be hard to control them in this case.

[rdluffy]

China is a peculiar country, I live in Brazil and I confess it's very hard to me to understand the politics and life in general in China
It seems like people in China tends to love BTC, mining and all stuff related to cryptos, but government are afraid because they will possible lose control

[hasmukh_rawal]

Never fall for China's traps. You can never expect it to be true to it's words. One day it accepts crypto and the other day it bans all the mining in China.
It had banned mining, ICOs and investment in cryptos a few years back. Why do you think China has again started praising crypto ?
Do you think China has started realizing the value of bitcoin just like what others are thinking right now or do you think they are playing another game of money through crypto ?

[TastyChillySauce00]

China is a peculiar country, I live in Brazil and I confess it's very hard to me to understand the politics and life in general in China
It seems like people in China tends to love BTC, mining and all stuff related to cryptos, but government are afraid because they will possible lose control

I guess that is because they always seek the opportunity even the slightest, you can see the competition in their country are so tough, big number of people means a higher competition than any other country. Though I don't really think that they love BTC just becaus it is "BTC". They love it because it is basically money as everyone does.

[NathanJB]

China is a peculiar country, I live in Brazil and I confess it's very hard to me to understand the politics and life in general in China
It seems like people in China tends to love BTC, mining and all stuff related to cryptos, but government are afraid because they will possible lose control

That's right. Bitcoin is restricted in china but there are a lot of people there who own Bitcoin. There are so many people in china who can buy and sell Bitcoin. But it is not totally surprising. Even with a very tight government, it cannot simply control all the actions of their billions of citizens.

But what is more peculiar about china is that they are claiming to be a communist country yet living fully at the hands of the capitalists.

[rdluffy]

China is a peculiar country, I live in Brazil and I confess it's very hard to me to understand the politics and life in general in China
It seems like people in China tends to love BTC, mining and all stuff related to cryptos, but government are afraid because they will possible lose control

That's right. Bitcoin is restricted in china but there are a lot of people there who own Bitcoin. There are so many people in china who can buy and sell Bitcoin. But it is not totally surprising. Even with a very tight government, it cannot simply control all the actions of their billions of citizens.

But what is more peculiar about china is that they are claiming to be a communist country yet living fully at the hands of the capitalists.

Yes, this is an interesting point
I know some people who traveled to Japan and South Korea and they said good things about people and cryptos, but in China I only heard stuff like China bans mining, China bans BTC, but I see people posting in forum that they are mining in China, they are using btc normally...

[tomahawk9]

Aren't media outlets in China owned by the government? If that's the case, this means that the Chinese are softening up for bitcoin and could potentially issue yet another statement regarding their support for bitcoin and other related services. Or it could just be another statement to piss off the Americans

I'd go with the latter. The Chinese govt doesn't strike me as a govt that would go back on its word and would suddenly start embracing Bitcoin when they've been so against it over the past few years. This whole media thing with Bitcoin sounds like a new tactic from the chinese to try to disturb the US amidst the trade war, it's all mind games...*proceeds to take off tin foil hat*

But with the hong kong protests and all the shitshow that's going down in China right now, I wouldn't be surprised if this was nothing more than lame propaganda to distract the citizens and the world.

[romero121]

News getting out of different media needs to be considered a news and the same should not be used to manipulate the media influence on the cryptocurrency network. In the recent years more news relative to cryptocurrency have come through different media, and some were simply an isolated. One such example is the recent news regarding the ban of bitcoin in India and the imprisonment for ten years time. The news was completely from a private service and nothing came out from government authorities.

[funchiestz]

Prominent Chinese media houses love Bitcoin and believe that the number one cryptocurrency is a safe haven asset given rising tensions in the socio-political relations among global economic powerhouses....read more

https://www.cryptoknowmics.com/crypto/chinese-media-is-all-praises-for-bitcoin/

There are big problems. We read dozens of news every day. Some of this news says it will ban China's cryptocurrencies. It will support the other part ... I think we need a very reliable crypto-news platform anymore.

[Artemis3]

In my opinion, China accepts BTC. Because China starts to believe BTC, but l have read just other posts. They are talking about it is bad news. l can't deny other facts. China banned BTC and it can happen again. l think it is good news for me. The World starts to accept cryptocurrency.

It is to their best interests to adopt it rather than fight it. They can make more wealth that way. Big irony is that China is currently the worlds largest cryptocurrency holder, despite government restrictions. Its pointless to fight it when it could be benefiting them instead.

For example they want to diminish the US dollar as a reference of value, but the world isn't switching to Chinese Yuan anytime soon. Bitcoin on the other hand belongs to no country, and no country may control it. I could say more, but they better have their own people do the homework of finding out the benefits.

[Lauren Smith]

I am happy about this news. I was under the impression the Chinese were against it. There many social problems a safe haven asset would work well. Their currency is weak I believe. Plus all the legal ties and crap.
Much easier to simply install a wallet from the google store and use that. Will empower people and keep assets away from the goverment.

[eaLiTy]

Prominent Chinese media houses love Bitcoin and believe that the number one cryptocurrency is a safe haven asset given rising tensions in the socio-political relations among global economic powerhouses..

There is nothing wrong in believing bitcoin to be a safe heaven and they are under an oppressive government and if they want financial freedom they will opt for a decentralized currency but the government already had plans to disrupt the market and so is the reason regulations were implemented for the exchanges operating from China but there was a shift in the tide as Japan and Korea embraced the market and had full support. Now China is not the focal point as there was a time when every news from China had an implication on the market  .

[target]

Surprise to see they are now reporting such things when their government monitors a lot of what information is to be spread. It could mean they are now openly allowing Chinese to use BTC. Well, Binance is Chinese exchange in the first place. If they can be considered giant in this industry, the Chinese are pretty much going to advance in crypto with their help.