Fake support?

[TelolettOm]

It is likely that China launched this fake cryptocurrency ban to create a situation for panic sales of cryptocurrencies. Over the past two years, they have successfully bought up everything they could at very low prices. The East is a delicate business. Now it's time to start reversing the process.

If China government really supports crypto now and changes the policy, your accusation above makes sense. No doubt that they take advantage of the panic situation, the prices freefall and they might buy as many as crypto they want in the past. China always knows the effective way to take advantage of everything. In crypto, they know that they have the power to influence the market trend, so they made a policy that can shake up the market. Now, when they know crypto will have a bullrun season, they change the policy to support the prices skyrockets. So, they can take profits as big as possible. It means, China government also takes part in crypto investment secretly. Is it what you are trying to explain, mate?

[STT]

the Chinese government strictly implements the bans, their people still quietly use cryptocurrencies and even still mine bitcoins.

Their whole society is like that, Russia also.  You cant stop people doing what will work for them, a nation shouldn't even try to do this yet this is the basis of dictatorships a weakness not a strength.   Of course it will carry on the country is gigantic and wherever else is similar the world and nations generally are strong from their people not vice versa.    China banned BTC and the price doubled as I remember it in 2017.    Similarly now apparent negatives are headlines not necessarily actual ongoing impairments to BTC itself.

[Silberman]

the Chinese government strictly implements the bans, their people still quietly use cryptocurrencies and even still mine bitcoins.

Their whole society is like that, Russia also.  You cant stop people doing what will work for them, a nation shouldn't even try to do this yet this is the basis of dictatorships a weakness not a strength.   Of course it will carry on the country is gigantic and wherever else is similar the world and nations generally are strong from their people not vice versa.    China banned BTC and the price doubled as I remember it in 2017.    Similarly now apparent negatives are headlines not necessarily actual ongoing impairments to BTC itself.

Which is why a government like that is eventually bound to fail, people by nature want to have as much freedom as possible, now it is true that we also understand that a state of complete freedom in which anything goes would not be desirable and as such we allow to limit our freedoms somewhat so a society can be built, but governments abuse this authority and when they do people resist them, not necessarily by taking arms against them but by simply ignoring the laws which are obviously unjust.

[Dr.Bitcoin_Strange]

Well, there is this saying in my place that "one should not see a poop in the daytime, then at night you go and step on it. 

That's to say that one must not allow something to happen to them twice before they learn a lesson from it. Since China has not been a favorable place for Bitcoiners in the past, now is the time to trade cautiously and never put one's whole trust in any crypto service in China because no one can really tell what their plot is this time around. Bitcoiners or crypto users in the country should just be very careful and never interact with their tokens or coins on centralized platforms; everyone should deal primarily with their personal custodial wallet and DEX.

[Fortify]

Things are now looking different for crypto in china right now, I thought china will be the most hateful country on crypto after they destroyed so many asics that belongs to crypto miners in the country and crypto mining was also banned.

Now china is now taking the biggest approach to embracing web3 and support some crypto projects, since china has banned Bitcoin over 6 times in the past do you think this is another fake move?

I know that Hongkong is the soul location that's doing all this crypto thing, do you think that the whole country (china) will benefit from this or this case will be that Hong Kong will be the location for crypto things?

What's your belief on these? Are they trying to beat the US to it? Because right now the US is playing dumb with crypto and china sees a better opportunity in crypto, what do you think?how will this end?

You can never trust an authoritarian style government. The leaders are the top are lead by blind greed and twist nationalism to their favor. If power corrupts then you might argue that the top of the CCP are the most corrupt people the world has ever seen. They brought people out of poverty simply by changing from their original disaster model of communism to basically capitalism, they are not exactly genius financial engineers - they just stopped being incredibly stupid. However it looks like Xi Jinping is intent on dragging China back to the stoneage with all his Draconian crackdowns, it's simply a way of sending a message to certain elites that they better know he's the boss, very petty.

[someone703]

When it comes to China's support for blockchain and web3 technology, it is possible that they see potential benefits and opportunities in these areas. The adoption of blockchain technology can bring efficiency, transparency, and security to different areas. However, like any government involvement in such technologies, there can be debates and discussions about the balance between centralized management and decentralized principles. It is essential to evaluate the actions and policies of any country, including China, based on concrete information, analysis, and reliable sources. While skepticism is well-founded, it is important to avoid generalizations and judgments without solid evidence.

[phantailaptopbl]

When it comes to China's support for blockchain and web3 technology, it is possible that they see potential benefits and opportunities in these areas. The adoption of blockchain technology can bring efficiency, transparency, and security to different areas. However, like any government involvement in such technologies, there can be debates and discussions about the balance between centralized management and decentralized principles. It is essential to evaluate the actions and policies of any country, including China, based on concrete information, analysis, and reliable sources. While skepticism is well-founded, it is important to avoid generalizations and judgments without solid evidence.

The government  cant trust on a change to crypto policy
If power corrupts then you might argue that the top of the CCP are the most corrupt people the world has ever seen,Since China has not been a favorable place for Bitcoiners in the past, now is the time to trade cautiously and never put one's whole trust in any crypto service in China because no one can really tell what their plot is this time around,China banned BTC and the price doubled as I remember it in 2017.

[Sayeds56]

Hong Kong is much better and it's a SAR of China. While policies are still different and it's like a baby of China, it has its own policies

Indeed, Hong Kong operates under "one country two systems" principle as a Special Administrative Region of China. Hong Kong has been known for years as a financial hub of Asia with well developed infrastructure and  a strong rule of law. Its economic fundamentals are quite strong with mature financial market, stable currency and free flow of capital . These factors have contributed to its success as a global financial center. While Hong Kong continues to strive to enhance its economy and attract investment. However, it is essential for investors to stay informed about political developments and policy changes and adapt accordingly.

[Fivestar4everMVP]

Any country banning bitcoin and cryptocurrencies in general should already know that it's for the time being and not permanent, as some time into the future, they will have no choice but to allow their citizens participate in what citizens of other countries are participating in, China know this too well, and I won't be surprised if this be the beginning of China becoming a crypto friendly nation/country..

USA on the other hand actually know what they are doing, being the world power currently, it's not a good idea to be hasty in making important decisions most especially when it has to do with finance, and also being a country several other countries are looking up to, it's very possible that USA is waiting for every other country of the world to declare their stance on crypto, before USA finally declares theirs, so that no government of any country would ever say that their decision to either adopt or ban crypto was influenced or decided on because USA did the same.

[Latviand]

Like they say, change is Constant and we're in the Crypto era, I believe the Chinese government realised that sooner and had no option but to adapt to the system which I feel it's a bold step and in the nearest future many other countries would also adopt Crypto Currency as a legal tender and means of payment for goods and services as well.

They didn't realize, they're well aware of the power and profitability of crypto so they do a push and pull approach because they want the best for the party and the worst for the people.

[Silberman]

Any country banning bitcoin and cryptocurrencies in general should already know that it's for the time being and not permanent, as some time into the future, they will have no choice but to allow their citizens participate in what citizens of other countries are participating in, China know this too well, and I won't be surprised if this be the beginning of China becoming a crypto friendly nation/country..

USA on the other hand actually know what they are doing, being the world power currently, it's not a good idea to be hasty in making important decisions most especially when it has to do with finance, and also being a country several other countries are looking up to, it's very possible that USA is waiting for every other country of the world to declare their stance on crypto, before USA finally declares theirs, so that no government of any country would ever say that their decision to either adopt or ban crypto was influenced or decided on because USA did the same.

The US is ambivalent about bitcoin, as in one hand they know very well that technological progress is unstoppable, and if they do not get in early then someone else is going to do so and take a very favorable position for themselves, however bitcoin severely damages its position as they are the ones that control the printing machine of the currency that is currently the world reserve, but since bitcoin was built in such a way that it does not depend directly on the fiat system they know that sooner or later they will have to accept it.

[SmartGold01]

One thing about China is that they are business minded fellows and the restriction may not entirely stops her citizens from not involving themselves in cryptocurrencies.

I know that Hongkong is the soul location that's doing all this crypto thing, do you think that the whole country (china) will benefit from this or this case will be that Hong Kong will be the location for crypto things?

With time and likely the whole country would benefits from my understanding, since some of the cryptocurrency exchange owners would likely paying taxes for operating in their cities just as U.S acting on Binance.
So from all indication I don't see any fake support toward them and they wants to utilized this opportunity. Then what I noticed from those country's that ban bitcoin are often increasing in trading volume.

[Yamifoud]

Any country banning bitcoin and cryptocurrencies in general should already know that it's for the time being and not permanent, as some time into the future, they will have no choice but to allow their citizens participate in what citizens of other countries are participating in, China know this too well, and I won't be surprised if this be the beginning of China becoming a crypto friendly nation/country..

Too late to realize their wrongdoings because they are too selfish not to see the good things it contributes to their people. Given this example to China and with the growing numbers of countries that support and adopt crypto, they'll be moving back on it. I'd see how the countries compete with each other and they don't want to get behind with other but rather make the extent of their power and crowd support. As China opens the door to crypto again, I'm very certain that it will give a huge impact on the crypto space, and prices will surge high again.

[wajik-tempe]

When it comes to China's support for blockchain and web3 technology, it is possible that they see potential benefits and opportunities in these areas. The adoption of blockchain technology can bring efficiency, transparency, and security to different areas. However, like any government involvement in such technologies, there can be debates and discussions about the balance between centralized management and decentralized principles. It is essential to evaluate the actions and policies of any country, including China, based on concrete information, analysis, and reliable sources. While skepticism is well-founded, it is important to avoid generalizations and judgments without solid evidence.

When examining the goals and consequences of any government's engagement in such technology, skepticism is a legitimate stance. It is also critical to avoid drawing broad generalizations or issuing judgements without strong data or a thorough comprehension of the situation. We may obtain a more comprehensive view of China's participation with blockchain and web3 technologies, as well as the consequences for diverse industries, by avoiding generalizations and conclusions without strong data.

[siniminomorocomunisakito]

What's your belief on these? Are they trying to beat the US to it? Because right now the US is playing dumb with crypto and china sees a better opportunity in crypto, what do you think?how will this end?

You seem to have an interesting perspective on the situation, visually China is able to recognize its influence in the market and has the power to shape trends and I think this is an interesting perspective, and highlights the potential complexities and motivations behind the current market movements.

[redwine49]

One thing about China is that they are business minded fellows and the restriction may not entirely stops her citizens from not involving themselves in cryptocurrencies.

I know that Hongkong is the soul location that's doing all this crypto thing, do you think that the whole country (china) will benefit from this or this case will be that Hong Kong will be the location for crypto things?

With time and likely the whole country would benefits from my understanding, since some of the cryptocurrency exchange owners would likely paying taxes for operating in their cities just as U.S acting on Binance.
So from all indication I don't see any fake support toward them and they wants to utilized this opportunity. Then what I noticed from those country's that ban bitcoin are often increasing in trading volume.

from my understanding of china's actions is that china doesn't want to be left behind when cryptocurrencies finally become a big part of web 3.0.
so they are forced to want to be part of the technology for some part of following what china agrees or disagrees

[justdimin]

When examining the goals and consequences of any government's engagement in such technology, skepticism is a legitimate stance. It is also critical to avoid drawing broad generalizations or issuing judgements without strong data or a thorough comprehension of the situation. We may obtain a more comprehensive view of China's participation with blockchain and web3 technologies, as well as the consequences for diverse industries, by avoiding generalizations and conclusions without strong data.

I understand people would be careful about it, after all they have been known to be against it, so when they act anything that looks like it would be a good thing, people have the right to be skeptic about it and wouldn't be really unwise decision to be like that.

I am not entirely sure if they support it or not, I wouldn't say it is "fake" but more like there must be something they are getting out of this and that's why they are doing it, and I believe that we could end up with something much better if we are careful and should be doing so. I know that a lot of people will focus on the part where it says a good thing, and they will get hopeful about it, but as we can see from the market, not a lot, just a bit of people and the price didn't responded to it.

[Unbunplease]

Too late to realize their wrongdoings because they are too selfish not to see the good things it contributes to their people. Given this example to China and with the growing numbers of countries that support and adopt crypto, they'll be moving back on it. I'd see how the countries compete with each other and they don't want to get behind with other but rather make the extent of their power and crowd support. As China opens the door to crypto again, I'm very certain that it will give a huge impact on the crypto space, and prices will surge high again.

The Chinese usually think through their actions well, and if they seem illogical to some, it is quite harmonious for them. They decided to attack cryptocurrencies to streamline mining and change the game. Now that the doors are opening again, things have changed from what they were before.

[Silberman]

Any country banning bitcoin and cryptocurrencies in general should already know that it's for the time being and not permanent, as some time into the future, they will have no choice but to allow their citizens participate in what citizens of other countries are participating in, China know this too well, and I won't be surprised if this be the beginning of China becoming a crypto friendly nation/country..

Too late to realize their wrongdoings because they are too selfish not to see the good things it contributes to their people. Given this example to China and with the growing numbers of countries that support and adopt crypto, they'll be moving back on it. I'd see how the countries compete with each other and they don't want to get behind with other but rather make the extent of their power and crowd support. As China opens the door to crypto again, I'm very certain that it will give a huge impact on the crypto space, and prices will surge high again.

The reasoning behind the actions of China can be difficult for us to comprehend, however I really think they have some intention behind them, however that does not mean that the reasons for their movements have remained the same over the years, I think they are finally acknowledging they cannot kill bitcoin despite their best efforts and it is possible they decided to use it instead and try to weaken the US with it, however this is a risky move as bitcoin could also weaken them.

[Uruhara]

All of this is about a business strategy on a large scale that is carried out by countries with strong economies like China. their policies are sometimes difficult for us to understand. but one thing that is clear is that they only want a good advantage for them. It's not even just China that banned crypto a few years ago but is now starting to remove the ban. one country that is doing something similar is Russia. a few years ago Russia was also unfriendly to the crypto world but now they have allowed some crypto activities in their country. so we know there will be more drama in the world of global economy. it could be that America right now seems too cruel to crypto but we don't know maybe in the coming year America will actually be friendly to crypto.