Will Bitcoin Solve Chinese Banking, Household Debt Woes?

[TRONTON]

In my opinion, it is directly impossible for bitcoin to solve household debt and banking bailouts, because the root of the problem lies with
China's financial institutions themselves are not wise in managing the country's finances so it causes the problem. But  bitcoin can help
increase the income of China and its citizens. With some state institutions in part Its budget is invested to buy bitcoin and also all Chinese
people also buy bitcoin. With mass adoption as such it is expected that profits will be made when the price of bitcoin rises. But also take
calculate if the price of bitcoin falls, it must make a backup plan related to this.

The average investment absorption capacity of their citizens is very high and not only in crypto, they even understand the risks, can be seen how much they are interested in tron ​​and neo and automatically they quickly understand the wise steps in buying and using BTC.

indeed it cannot decipher the problem and solve it directly. The best thing I've read lately is that their governments are starting to care in building blockchain projects with a stable currency, this is institutional direct support for their citizens as an alternative solution.

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[Kambal2000]

Absolutely not!

Bitcoin cannot solve the financial problem facing by Chinese banking, as they don't rely and don't agree in Bitcoin, they even have their own coin that will launch soon, that will for sure they will use this for their problem.

On the other hand, I think that Bitcoin can solve individual problems just like us, wherein we've gained and earn money that helps us financially, by paying our bills, school fees, earning from investing, bounties.

[Kakmakr]

Bitcoin will help to protect people's wealth, when the global economy fails. We know that there are a looming economic storm on the horizon again, so it is a good opportunity for everyone to collect as much bitcoins as possible to protect the value of their wealth.

As you said, China is not immune to the global economic problems, because it relies on imports and exports to other countries and if these countries struggle, they too feel the impact of this.

Bitcoin is currently a Store of Value, so people use it to hedge against possible losses, when things like this happens. 

[Youghoor]

I think Bitcoin cannot solve household debt and  banking bailouts since it cannot influence the human aspects of what causes these problems!

I mean how can Bitcoin solve household debt when the the main cause of this comes from socio-economic factors and lifestyle choices! Similarly, how can Bitcoin solve banking problems when it was the result of poor management!

Therefore, I like to assume that Bitcoin cannot solve socio-economic factors, lifestyle choices and poor management but humans will! So the solution is for us to have necessary reforms so as not to have these kinds of problems in the future. Imho.

Exactly!!!! People need to understand that Bitcoin is just coming to improve our financial system which will help prevent some unnecessary financial errors and problems seen in the financial world. People need to understand what bitcoin is and its true purpose to the financial ecosystem.

[TravelMug]

Lol, what a crappy article, looks like they wanted Chinese people to FOMO to bitcoin again, governments will be the first one to step up and stop their madness with BTC.

Pretty obvious that bitcoin is not created by Satoshi to crushed those financial problems by any country. Although bitcoin is a good investment long term, but I'm not seeing it to be the magic bean to suddenly bail out problems like the article says. China's problem can be internally solved by the government without the intervention of bitcoin. Not only China has debt woes, even US or the rest of the superpowers globally and I don't see them relying on crypto to remedy it.

[peempeem]

I don't really trust that article. China's household debt is still very low:

https://en.wikipedia.org/wiki/List_of_countries_by_household_debt

What people do borrow is usually for property. If you believe in bubbles then maybe there is a problem there.

But Chinese never got big into credit cards like the west. Yes there's some credit cards but most people in the country never owned any kind of card. They went straight from cash to smartphone payment which is linked to bank account so more like a debit card (no debt).

[Kyraishi]

In my opinion, it is directly impossible for bitcoin to solve household debt and banking bailouts, because the root of the problem lies with
China's financial institutions themselves are not wise in managing the country's finances so it causes the problem. But  bitcoin can help
increase the income of China and its citizens. With some state institutions in part Its budget is invested to buy bitcoin and also all Chinese
people also buy bitcoin. With mass adoption as such it is expected that profits will be made when the price of bitcoin rises. But also take
calculate if the price of bitcoin falls, it must make a backup plan related to this.

The average investment absorption capacity of their citizens is very high and not only in crypto, they even understand the risks, can be seen how much they are interested in tron ​​and neo and automatically they quickly understand the wise steps in buying and using BTC.

indeed it cannot decipher the problem and solve it directly. The best thing I've read lately is that their governments are starting to care in building blockchain projects with a stable currency, this is institutional direct support for their citizens as an alternative solution.

A lot of chinese investors do lean towards these options (tron, neo, eth, bnb, iota), as they are usually chinese-based companies/start-ups with safer investments then other companies. Bitcoin is likely the most volitatle coin out of the entire market, and they would definelty prefer to be safer with their investments.

Lol, what a crappy article, looks like they wanted Chinese people to FOMO to bitcoin again, governments will be the first one to step up and stop their madness with BTC.

Pretty obvious that bitcoin is not created by Satoshi to crushed those financial problems by any country. Although bitcoin is a good investment long term, but I'm not seeing it to be the magic bean to suddenly bail out problems like the article says. China's problem can be internally solved by the government without the intervention of bitcoin. Not only China has debt woes, even US or the rest of the superpowers globally and I don't see them relying on crypto to remedy it.

Yeah, it seems pretty pointless to be fair, I think theres no need convicing the chinese markets about bitcoin, they always seem to reject it.

[suzanne5223]

I want you to know that bitcoin was not implemented as a magician and is also not a quick to rich scheme but an alternative to an economic meltdown. However, bitcoin will bring slightly solve the Chinese banking problem and the household debt but the main solution is in the hand of the Chinese government if they stop their centralized govern ways.

[boltz]

Its to early to speak about such a big problem like debts even if we talk about Bitcoin's power. Maybe in time if China focuses a lot on cryptocurrencies at some point this ecosystem will try to reduce the debt gap but this is not Bitcoin purpose. If you think that debt is kinda low , you're right if you compare to other countries like USA or SPAIN and UK but for a country like China when the economy is booming in all the sectors the debt is still above normal.

[wozzek23]

Bitcoin had never been and will never be a magic that will cure any economic crisis and problem. It is never aimed to be a solution. It is up to the leaders how will an economic problem will be solved and cryptocurrency can only be an alternative tool and not a solution.

It was because satoshi saw a problem that he created a solution for it, so you cannot really rule out the fact that bitcoin is a solution to a particular challenge, and the reason for its services as an alternative is because the first cannot do everything on its own to solve the problem.

If the leaders know how to apply the use of blockchain technology and cryptocurrency very well, ii am sure that they will be able to at least use it for a certain percentage of solving solution to where bitcoin fits in for problem solving. I dint even see china having too many problems for them not to be able to use cryptocurrency or blockchain technology to solve and it may be for this reason that the leader is even encouraging its citizens now to embrace blockchain.