Why China Recognize Bitcoin?

[tbct_mt2]

You can arbitrage BTC without BTC via margin trading or futures trading.

I am against this recommendation because Margin or Futures trading is very risky. It can give people hope that they can get rich quickly after some successful trades with Margin or Futures trading but fast comes, fast goes. They can quickly lose their money with Margin or Futures trading.

Rather than taking risk with those trading types, I would like to use Spot trading and patiently wait for good entries with different chart candles like 15-min, 30-min, 1-hr and slowly increase my capital with disciplined trades.

Trading with x1 leverage looks similar to Spot trading but when a trader already touches Margin, likely he will lose control soon.

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[Out of mind]

It's hard to tell when China does, they sometimes recognize Bitcoin and then ban it, which is really weird. Also, there is a Bitcoin mining farm in China, maybe they have re-accredited Bitcoin for that. Many times it has been seen that after banning Bitcoin, the price of Bitcoin has dropped completely and China has bought Bitcoin, and then they do such strange things in hopes of profit. Moreover, it is difficult to say why they accepted it at present, but many have predicted the bright future of Bitcoin, so they may have done so. Bitcoin will halve in front and then the price of Bitcoin will increase rapidly China may have this in mind and once again recognized Bitcoin in their country.

[cryptoaddictchie]

China is a socialist country. I don't quite understand the recognition of Bitcoin.
Indeed, we should engage in an extended thought process to understand why China has chosen to recognize it.

First maybe the article is just a shill type but not confirmed? We knew that China hates bitcoin and even Ban them few many times now. If somehow they did recognize it then there must be something useful for them or maybe a manipulative act to gain from it. China is a smart country and will do everything to gain much power and this could be another scheme. Who knows why such a situation occured and if its involved Chun then there is definitely something here.

[gunhell16]

As far as I know it is because of the Shanghai government court that they recognize Bitcoin as a distinctive currency. and because of this, this move by shanghai shows that the country of China is once again ready to recognize Bitcoin as a major good investment asset for the future.

This also increases adoption in their community recognizing Bitcoin as an asset and also used in various fields of payment. This is a good step by Shanghai to further boost Bitcoin's dominance.

[Hamza2424]

hmm, there are continuous fictional stories about China, I cant get what Op is trying to say, China is the one country that continuously imposes the Ban on the crypto market, especially Bitcoin and now hearing this from OP, I really cant digest it.

While going through the thread Stompix, said it did not indicate any legal recognition for the crypto or Bitcoin, China did open some policies for the crypto space but that really didn't put forward any narrative to support the market rally. If in the future China is going to recognize Bitcoin somehow, its investors need to be careful a China can really change its policies again after using the market for their own gains. I think China will support the CBDC's rather than the Bitcoin.

[tjtonmoy]

Who in their right mind would miss an opportunity to make money? As we all know, China is a controlling country, my understanding is that they want to use the existing technology to make a profit. China has gone back and forth between banning and unbanning Bitcoin many times and mining Bitcoin too. But now as they see that they can make profits out of it, they want to use it. Don't be shocked if you hear that China has banned Bitcoin again and seized every Bitcoin from every miner and user. This won't make me surprised tho.

Or there is some other shit that's been going on inside but we don't know about it. Only time will tell.

[YOSHIE]

As far as I know and what I have read, there are several things about China's recognition of Bitcoin.

The first:

China has recognized Bitcoin as a unique and unreplicable digital asset while recognizing its scarcity and intrinsic value.

And the second:

several courts in China have recognized Bitcoin and other digital assets as legal property protected by law.

Here I come to the conclusion, China just doesn't really recognize Bitcoin as a legal country, that's all, admiration for Bitcoin, maybe they are desperate to ban Bitcoin in various ways.

The reason why China is not serious about recognizing Bitcoin can be strengthened by other evidence.
Example:

Even though there has been recognition, the Chinese government regarding Bitcoin reportedly still does not have negative sentiments towards Bitcoin. China imposed a blanket ban on all forms of crypto activity, including Bitcoin mining.

China is cunning and does everything it can to gain benefits for them.

[Tytanowy Janusz]

You can arbitrage BTC without BTC via margin trading or futures trading.

I am against this recommendation because Margin or Futures trading is very risky. It can give people hope that they can get rich quickly after some successful trades with Margin or Futures trading but fast comes, fast goes. They can quickly lose their money with Margin or Futures trading.

Rather than taking risk with those trading types, I would like to use Spot trading and patiently wait for good entries with different chart candles like 15-min, 30-min, 1-hr and slowly increase my capital with disciplined trades.

Trading with x1 leverage looks similar to Spot trading but when a trader already touches Margin, likely he will lose control soon.

WHAT?! I'm talking about arbitrage strategy for professional arbitrage traders that wants to avoid currency risk (risk of holding a volatile asset). I'm not talking about retail investors gambling their savings on 100x leverage. Explain to me where is your risk when an arbitrage trader go with 100k spot buy on exchange X and 100k futures short on exchange Y to earn on spread, having 1 mln $ as collateral?

[sana54210]

Who in their right mind would miss an opportunity to make money? As we all know, China is a controlling country, my understanding is that they want to use the existing technology to make a profit. China has gone back and forth between banning and unbanning Bitcoin many times and mining Bitcoin too. But now as they see that they can make profits out of it, they want to use it. Don't be shocked if you hear that China has banned Bitcoin again and seized every Bitcoin from every miner and user. This won't make me surprised tho.

Or there is some other shit that's been going on inside but we don't know about it. Only time will tell.

Yes true, but sometimes when you are faced with "more control over your citizens vs making more money" some nations prefer more control, and China is a dictatorship, no matter how strong or financially great or whatever they claim to be, there is no elections that you can pick the president as citizens, which means that it's a dictatorship, and that is why I think they are going to prefer blocking bitcoin as much as they can.

So, a news about them letting it be, no matter if it's true or not, makes people a little shocked. We need to realize that it's not going to be that easy and we are going to end up with some bad results if we are not careful and this was exactly that, reaching to a point where you are shocked they would consider it.