China gives bitcoin stamp approval as investment alternatives

[slaman29]

Only now that bitcoin is so popular and the price rose so high, China has the audacity to accept btc as it is. Way back when btc is just 100 times cheaper, they just can't accept btc in their country. They were influential back then but now, I think any news from them are just ordinary and can't influence the market.
But let me clear it, I am happy with China's decision.

It's not any audacity, it's just plain economic decision making. And I don't think they've always been against it, just they were receiving so many scam complaints in the past so they just banned it to save people the trouble of being scammed (or rather if people get scammed they won't dare to complain anymore).

Nothing new though:)

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[Karartma1]

They can't be out of multi-trillion mega market and this is only natural for a country that wants to rule the economic world. After years of dismissal they're probably facing reality recognizing that Chinese people want to settle into crypto.
I'll be focused on what they'll do next as they begin rolling out their CBDC CNY.
!Every country that bans Bitcoin eventually reverses that ban. You simply cannot be competitive in the 21st century economy without it!

[Kittygalore]

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OP don't even mention where he heard such information, so i have some doubt. However, even if true, it's likely they (people of china) can't have control over their coin.

That too, we also don't know if the source is a credible one and we know that China is suppressing information about them so we can't be entirely sure. If that is the case then too bad for the people because they can't enjoy the benefits that bitcoin provides.

[tbct_mt2]

Only now that bitcoin is so popular and the price rose so high, China has the audacity to accept btc as it is. Way back when btc is just 100 times cheaper, they just can't accept btc in their country. They were influential back then but now, I think any news from them are just ordinary and can't influence the market.
But let me clear it, I am happy with China's decision.

China again is a hub of Bitcoin news. I see many times when Bitcoin tops up, China have news for bitcoin, regulations, restrictions, bans, shut down or take over of mining factories.

That too, we also don't know if the source is a credible one and we know that China is suppressing information about them so we can't be entirely sure. If that is the case then too bad for the people because they can't enjoy the benefits that bitcoin provides.

If you know the domination of bitcoin owners now are in Western hands, not in China you will not be panic with the news.

Bitcoin restrictions in China were faked and the Xi pump in 2019 is not enough?
The insitutional investments in 2020 and this year from Western nations are not enough?

Time to forget and release your fear of negative news from China.

[MrcMrc]

I guess Bitcoin took the world leaders by surprise. At first, China saw bitcoin as an attack on its economy, so they took drastic action against cryptocurrency back then in 2017.

Now it’s clear that bitcoin/cryptocurrency is unstoppable am excited over the news from China central bank.

[lifeforcepools]

Now this is the right decision for them, because miners lose a lot of money.

[btc-room101]

The china central bank has given unprecedented stamp approval to bitcoin and other stable coins, as investment alternatives.
As Bitcoin tries to recover from last weekend’s price crash, which brought bitcoin down to $52k from its all-time high of $64k making a $7,000 loss within a few minutes.
This news will further strengthen the bitcoin market to recover fast.
Link to article
https://cointelegraph.com/news/china-endorses-btc-investment-5-things-to-watch-in-bitcoin-this-week?fbclid=IwAR0WL9WWFOOtvz69gyVzWAk_-S9cxHDlK7PU7w8XFCk5TwGYLfD5-eubpXY

Seriously this is a non-story, one bank employee went off reservation during a Q&A and made a personal opinion statement.

The OP title makes it sound like China GOV made a decision, it did not.

This OP is 100% BS

What is actually happening is China is moving ahead with CBDC cross-border-digital-currency. IMHO they're still studying BTC

Right now they're working closely with Hong-Kong which developed a ASEAN CBDC to connect Hong-Kong, initial field testing is HongKong<->Thailand. The Chinese CBDC will be used for a business transactions in Asia.

People who want to know real google "CBDC hong-kong", you can find the 2019 white-paper,

The Chinese CBDC has a limited shelf life, meaning if you don't spend it, you lose it. Thus its nothing like BTC, or normal Crypto, its more like a gift-certificate with a limited life.

Paper money is no longer used in China, all purchases are done with the mobile-phone, same as most of Asia & Africa. Field testing CBDC the Chinese Gov has given the crypto for free to encourage people to learn to spend it regionally.

...

Alibaba, BABA-Taobao owns BITMAIN, which is ANT/ALI-PAY, the cashless society of China is already Ali-Pay on the mobile phone. In the past two years the CCP has removed Jack-Ma founder of TaoBao from his capacity, thus now CCP owns Bitmain&Ant, which means CCP owns all crypto both ASIC&GPU in all of China, and actually the world when you consider that all the world uses ant-bitmain HW so called "bitmain-miners".

IMHO CCP will adopt the infrastructure and use Ant-Bitmain-Alipay to create the universal ASIAN CBDC. But all this has nothing to do with BITCOIN, other than they may have been the prior tenants prior to GOV takeover.