Will China Accept Bitcoin As A Currency?

[YinShuiSiYuan]

Just look at the websites https://en.wikipedia.org/wiki/Websites_blocked_in_mainland_China which are ban in china. I don't find any reasons why they banned all those websites. If those websites creates a problem for Chinese Gov then Bitcoin is a real threat fo them.  So I dont think that they are going accept bitcoin as currency in any near future.

Not only that, China has been working on creating its own cryptocurrency for several years, which (probably) is to be publicly exposed this month. So why they should accept Bitcoin and create competition for their own coin..?! Ofcourse they will never do that!

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[cutesgirl]

Just look at the websites https://en.wikipedia.org/wiki/Websites_blocked_in_mainland_China which are ban in china. I don't find any reasons why they banned all those websites. If those websites creates a problem for Chinese Gov then Bitcoin is a real threat fo them.  So I dont think that they are going accept bitcoin as currency in any near future.

maybe there are other reason about banning those website and this nothing to do about bitcoin issue.

https://cointelegraph.com/news/bullish-for-bitcoin-china-scraps-plans-to-ban-cryptocurrency-mining?fbclid=IwAR1CKfWVcY83KMoap-DcMHfwtgSgmVABaibhoHmZgTlcYX7OGrtZ7dESYxU

https://cointelegraph.com/news/china-signs-agreement-with-hong-kong-central-bank-for-blockchain-push

check those links i think its more appropriate than that one you shared

ut last week China president want to adopt blockchain as legal currency payment and have announce to public about how interested by China president with bitcoin and altcoin as currency payment, but why get both news have the opposite mean with China president want adopt bitcoin and there are have side with China want to banned bitcoin as transaction, which one is true?

[lumeire]

I think the Chinese government will only accept bitcoin as a commodity. because they already have plans to make their own crypto coins. and I heard that this crypto coin made in China is called DCEP. I'm sure China will support DCEP more than bitcoin. they don't like bitcoin because it is anonymous and decentralized. that's why they make their own coins so they can still control it.

I had also the same thought, and I think that is why president Xi endorsed the utilization of Blockchain technology. This could be the first phase of the creation of their own cryptocurrency, I had no idea what name of the coin would be so it is good that you shared this one. Decentralization and anonymity of Bitcoin are some of the reason why big countries wanted to create their own cryptocurrency for them to manipulate and regulate this technology.

China isn't going to accept bitcoin as a currency as it opposes what China is trying to impose i.e. Centralization and censorship. China controls everything that its citizens do and see online. If China was going to accept bitcoin then it shouldn't have banned it in the first place, which done already they aren't gonna revert back the decision.

[angrybirdy]

I think the Chinese government will only accept bitcoin as a commodity. because they already have plans to make their own crypto coins. and I heard that this crypto coin made in China is called DCEP. I'm sure China will support DCEP more than bitcoin. they don't like bitcoin because it is anonymous and decentralized. that's why they make their own coins so they can still control it.

I had also the same thought, and I think that is why president Xi endorsed the utilization of Blockchain technology. This could be the first phase of the creation of their own cryptocurrency, I had no idea what name of the coin would be so it is good that you shared this one. Decentralization and anonymity of Bitcoin are some of the reason why big countries wanted to create their own cryptocurrency for them to manipulate and regulate this technology.

China isn't going to accept bitcoin as a currency as it opposes what China is trying to impose i.e. Centralization and censorship. China controls everything that its citizens do and see online. If China was going to accept bitcoin then it shouldn't have banned it in the first place, which done already they aren't gonna revert back the decision.

Indeed, they don't pay any attention to bitcoin as they focus more on the blockchain technology as they create their own crypto that they will be using in their country. They don't support bitcoin, but the technology behind it. They will use the technology to achieve more power and control onto their country when it comes to cryptocurrency, it is a counterpart of bitcoin in their country to regulate the crypto users.

[hajirkhalid2]

Really China accept the Bitcoin and other cryptocurrency
In around the world China can have 65 percent hash rate available. China can adopt Bitcoin faster. All the bitcoin Miner are located in china.

[ðºÞæ]

Regarding the last news from China, they have higher agendas today. Everyone's waiting for Chinese national currency that should kill crypto at all. If it so, there will be no place for Bitcoin. WeChat + Chinese Nation Currency = BitcoinKiller

Pure little delusional soul.

[djsugar]

I largely doubt that China is going to accept bitcoin as a currency. They might leave its status unidentified but making it a legal tender is far from the reality.

China which dont even allow foreign websites to run over their network would not make something globally accepted and can be globally manipulated a legal tender in their country.  As happened during the end of third quarter, china will embrace blockchain tech but the bitcoin.

[Tipstar]

It would not matter at all. Bitcoin is decentralized. And it would work until people would have trust on it.
China as a nation too would work until larger number of people would have trust on it. And the latest development are suggesting the age of China as a country could be lesser than Bitcoin as a currency.

[karanggatak]

I don't think China will accept bitcoin as a currency because China is a big and strong country and we know that China can always make its own technology. Even though yesterday the Chinese president stated supporting blockchain does not mean the Chinese government will legalize bitcoin. the Chinese government will not like decentralized and anonymous bitcoin. I heard that China will make its own crypto whose project is named DHCP.

[f2f.mirrors]

I don't think China will accept bitcoin as a currency because China is a big and strong country and we know that China can always make its own technology. Even though yesterday the Chinese president stated supporting blockchain does not mean the Chinese government will legalize bitcoin. the Chinese government will not like decentralized and anonymous bitcoin. I heard that China will make its own crypto whose project is named DHCP.

DC/EP   
DigitalCurrency/ElectronicPayment
DCEP is essentially no different from today's fiat currencies. It's completely different from Bitcoin's mission.
From the perspective of ordinary people, DCEP is more like electronic "cash", which meets the needs of anonymity, functions that credit cards and mobile payments cannot.

[Blackdeath]

I think it will take long to convince the chinese government to accept bitcoin as a currency because they are starting to launch their own coin like Facebook's Libra coin, so they might be using their own coin instead of bitcoin, that is why china only legalized blockchain technology not bitcoin.

[cryp24x]

I think they will do it. China wants to be leading in everything and want to be the first. So I guess accepting Bitcoin as a currency os not impossible to China since they support it now. This is a good move for them because all the money that they have invested on it will have exponential growth if Bitcoin starts to kick up!

[Golftech]

I think they will do it. China wants to be leading in everything and want to be the first. So I guess accepting Bitcoin as a currency os not impossible to China since they support it now. This is a good move for them because all the money that they have invested on it will have exponential growth if Bitcoin starts to kick up!

They haven't do it yet but some interest flows around after the President made an statement regarding to blockchain. Not a confirmation but can be use as a hint if they will sooner accept bitcoin as a currency, There's still many doubts about their position as they are not giving any statement in regards to bitcoin itself. The last time I've read is about chasing those illegal activities who caters cryptocurrencies.

[X-ray]

I think they will do it. China wants to be leading in everything and want to be the first. So I guess accepting Bitcoin as a currency os not impossible to China since they support it now. This is a good move for them because all the money that they have invested on it will have exponential growth if Bitcoin starts to kick up!

They haven't do it yet but some interest flows around after the President made an statement regarding to blockchain. Not a confirmation but can be use as a hint if they will sooner accept bitcoin as a currency, There's still many doubts about their position as they are not giving any statement in regards to bitcoin itself. The last time I've read is about chasing those illegal activities who caters cryptocurrencies.

Even there are floating news regarding chinese government deny to be involved into legalizing crypto they are just seeking the blockchain technology and trying to take advantage of it. But, peolpe being over optimistic they thought that the china government will legalize crypto which is not true.

[gweedo]

I have read in one of the media, I think it could happen because the founder of China said that blockchain technology is the only technology of the future, which is growing faster than the internet.

China's president also praised blockchain technology, but they did not claim that they would accept Bitcoin in their country. I saw some news saying that China's Central Bank is preparing to launch its own cryptocurrency. So I think they will never accept Bitcoin, they will even ban it forever in the future

[Shasha80]

I am very sure that in the near future China will not accept bitcoin as a currency. Because when the Chinese president's speech did not say
supports bitcoin or cryptocurrency, but only supports blockchain. Because in the near future China wants to focus on making their coins itself,
so the possibility of accepting bitcoin is very small. But china country will very quickly following changes in any field, including in the field of
technology.Therefore if bitcoin is increasingly developed and used by most of the world's countries. There is a possibility that China will also
accept bitcoin as well. For fear of being left behind by other countries, therefore the possibility of China accepting bitcoin is still exists. But it
can be 10 years or so one more decade has just accepted bitcoin.

[Astvile]

The chance of bitcoin being accepted as a currency in China is really high. Looking at how the Chinese government approaches bitcoin and the whole cryptocurrency world they are really positive about it. So yeah maybe not now but for sure in the future, they will accept it.

[boris2470]

China is developing very rapidly and applying new technologies, and I think they are interested in using Bitcoin in the future

The Chinese are interested in Bitcoin and its implementation, the same can be said about the EOS. However, the government is against it. The government is eager to introduce its own cryptocurrency in order to control the Chinese market, the government wants power. If we are talking about Bitcoin this cannot be controlled, therefore I am sure that Bitcoin will not be accepted there

[smyslov]

The chance of bitcoin being accepted as a currency in China is really high. Looking at how the Chinese government approaches bitcoin and the whole cryptocurrency world they are really positive about it. So yeah maybe not now but for sure in the future, they will accept it.

Have you already read the past articles about China's president views about Bitcoin, they already stated that they support blockchain but never support Bitcoin, it was news all over last two months ago if I may recall, but it's still a good promotion for Bitcoin, even if they are not promoting or adopting it.

[nhbaonghi]

I do not think China will accept Bitcoin as a currency, they will develop their own cryptocurrency to give government more control on it instead. By the way, we have to admit that crypto and blockchain really has a bright future in this country. And with all of what is happening in China, I do believe in the future of crypto market (it will soon booming again)