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Author Topic: China's plan to sideline bitcoin  (Read 18264 times)
Eclipse26
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October 27, 2019, 11:38:24 AM
 #81

Even in the very first place, it's unlikely for China to adopt bitcoin. Rather they're creating their own cryptocurrency. China always want to  control over their people. And as far as I know they wanted to lead in the cryptocurrency market which is somehow indirect saying they might compete with bitcoin in the future if they finally released their own digital currency. However, I don't know if they can really compete with bitcoin, although China is a big country. But obviously, they don't want bitcoin

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October 27, 2019, 03:21:42 PM
 #82

Even in the very first place, it's unlikely for China to adopt bitcoin. Rather they're creating their own cryptocurrency. China always want to  control over their people. And as far as I know they wanted to lead in the cryptocurrency market which is somehow indirect saying they might compete with bitcoin in the future if they finally released their own digital currency. However, I don't know if they can really compete with bitcoin, although China is a big country. But obviously, they don't want bitcoin

Name at least one country in the world that does not want to have complete control over its people.
Eugenar
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October 27, 2019, 05:52:12 PM
 #83

I've already expected this kind of act from the chinese government. We know how they act in terms of controlling power.


 
That's abit selfish of us. Everything possible should be done to resist them. I don't think enough people can be bothered to think through the implications. Even in 'free' countries people are fucked by their credit scores. When someone can trace every penny of your expenditure things will get a whole lot more alarming.

Exactly but since i don't want how the chinese control there people it is still better to never be involved with that digital currency when they will launch that one

China will be very much affected as if one of the most  used power supplies are changed. In my opinion, parts on com vbirth ban cmy chigan  but I if wewill going to promote crypto, it wou'ld have for hi to hugs and we expect hat bitcoin creates the making of cryptocurrency. Bitcoin can either support to deny the claim. I am just making an inference from our project. CEO qustions didn't qualfy ang perperson,.As they need to own the account first.
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October 27, 2019, 06:01:59 PM
 #84

This clearly shows that China really doesn't want to legalize cryptocurrencies because of their system. They intend to use a digital coin but they want to create of their own and make it controllable.

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Lizzylove1
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October 27, 2019, 08:02:15 PM
 #85

They will embrace bitcoin, it's just a public stunt. Looking at the development so far and how things have fared, they will have their own stable coin and still allow bitcoin to run. This market is a free market.

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October 28, 2019, 02:44:22 PM
 #86

Information from newspapers:

""Posted by: MAXIM BERKAL

Chinese leader Xi Jinping inflates Bitcoin prices

He called blockchain fundamental to the economy of China.

Speech by Chinese leader Xi Jinping boosted Bitcoin prices, CNBC reports. After a short-term fall on Saturday, October 26, cryptocurrency added more than 40% and reached $ 10,322 thousand. On Monday, the value fell slightly to $ 9,370 thousand.

The Chinese leader spoke positively about blockchain technology and called on his country to accelerate development in this area in order to take a leading position in the world in it. After that, shares of Chinese blockchain companies reached a maximum daily limit of 10%. ""
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October 28, 2019, 05:49:55 PM
 #87

"technology standart designed and contolled by others" Grin
That's why China will never adopt bitcoin.The fear of using a foreign technology that might put their financial system under foreign control.This proves that the PBOC clerks don't understand how bitcoin/blockchain works.
Anyway,their "chinacoin" project is doomed to fail.
China want to control their own coin with never giving space for bitcoin become most transaction payment in China, when bitcoin become very popular transaction they banned bitcoin, now they want to create technology become competitor for bitcoin where want to replace bitcoin with their own cryptocurrency and give space for every people with get higher profit later.
I used to think that Bitcoin was created by China, that they intercepted the race for Bitcoin. But it turns out that this is not so. Or maybe China is considering just the second option, as a backup, if they do not win the race for Bitcoin ?!
This will be a having a great impact on cryptocurrency maybe more investors will come and get their own bitcoins and then invest it in some upcoming projects, we know that china is a big country. As we continue supporting it and promoting it there is still a lot of help but if that plan is true, it makes a big impact on the market. I know that china banned bitcoin for some reasons but if this happens maybe they want to create their own crypto, I also think that bitcoin originates in china. They banned bitcoin and banned any transaction about cryptocurrency, maybe they want to create their own and compete with other cryptocurrency and that is only based on my own opinion. Maybe they want to create innovated blockchain technology that helps everyone, we cannot tell if it only happens.
China failed woefully in trying to stop Chinese citizens from using bitcoin and other cryptocurrencies within China. I heard the Chinese people are using Virtual Private Networks (VPNs) to buy cryptocurrencies from abroad. China can never stop bitcoin and nor any other country in the world can stop bitcoin. Bitcoin was originally designed to survive such attacks by the governments.

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