China vs US with different stance on bitcoin

[Distinctin]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

This is an interesting topic IMO, especially since Bitcoin is becoming increasingly influential. Some nations are even considering it as a strategic reserve. So, this type of discussion is very engaging for Bitcoin enthusiasts, as it combines politics, economics, and the growing role of cryptocurrencies on the global market.

[Asiska02]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

America and China are two rival countries for long and if USA decides to adopt bitcoin and also create a national reserve for it, I don’t think it will affect the stance of China on bitcoin, they’ll not lift up the ban in the country. What you should understand is that when two top countries are not in good times, the policies of one does not always reflect in that of the other, especially if it’ll bring benefits to them, so that they don’t feel like following in the footsteps of the rivalry country. American will continue to boost its economy through the means they find viable while China will also look for other means to be at a competitive advantage right above USA while exploring other options to help build the nations economy.

[Lucius]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?
~snip~

Do you even understand what you are talking about when it comes to the facts about the total value of all the BTC in circulation and all the money that is generated around the BTC business in relation to the GDP of the US and China?

China's GDP in 2024 was around $18.30 trillion, while US GDP was just over $29 trillion, while at the same time BTC market cap is around $1.88 trillion. If you understand basic math, then you should understand that no country will profit significantly even if they gain absolute dominance over BTC.

We can say all kinds of things about the Chinese, but we certainly can't say that they are stupid and don't know how to recognize a good opportunity - that's why those who live in the delusion that the Chinese made a mistake when they banned BTC mining and trading have no idea what they're talking about.

Communism and decentralization have never and never will be able to work together, and many people seem to forget that when they talk about BTC and China.

[nakamura12]

I think China, being a country that always wants to get to the top, they might be working on their own crypto that will overtake all so they will become the kings. that just what i guess this guys might me up to,

If that's what they are up to then I don't think it will happen at all. If you are not aware, there are lots of coins and altcoin being created but it never surpassed the bitcoin in many ways if that's what they are up to so I don't think it will happen at all. They may be able to create one but I don't think it will be used worldwide but only in local. I have known an exchange in my country where there's a new coin created but it is only used locally and not worldwide.

[Iranus]

America and China are two rival countries for long and if USA decides to adopt bitcoin and also create a national reserve for it, I don’t think it will affect the stance of China on bitcoin, they’ll not lift up the ban in the country. What you should understand is that when two top countries are not in good times, the policies of one does not always reflect in that of the other, especially if it’ll bring benefits to them, so that they don’t feel like following in the footsteps of the rivalry country. American will continue to boost its economy through the means they find viable while China will also look for other means to be at a competitive advantage right above USA while exploring other options to help build the nations economy.

If the United States succeeds in adding bitcoin to its national strategic reserves, China may soon lift the ban and consider doing the same. Because once the US succeeds with that idea, countries around the world will soon join in and China cannot stay out of the game. China can compete directly with the United States but cannot compete and fight against the whole world. But China knows for sure that won't happen and that's why they're in no rush when it comes to bitcoin-related issues.

It won't be easy to create a national reserve with a new, volatile asset just because it's a president's idea. Especially for a superpower like the United States, where power is distributed evenly across all different agencies, rather than concentrated in the president. And unfortunately, the US national reserve is not decided by the president.

[philipma1957]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

This is an interesting topic IMO, especially since Bitcoin is becoming increasingly influential. Some nations are even considering it as a strategic reserve. So, this type of discussion is very engaging for Bitcoin enthusiasts, as it combines politics, economics, and the growing role of cryptocurrencies on the global market.

Trump signed off on the hardest law against crypto.

It went into effect jan 2018 and the crash of 2018 was aid by the terrible like kind exchange law.

Trump was hard on crypto.

My tax returns have hundreds of pages and take hours to do because of the law trump passed.

So do not say he was good for btc.

[pakhitheboss]

snip..

It is evident to understand what China wants, they created a getaway using HK, wherein they denied anything related to crypto to come into the mainland. While they are trying to implement a local island becoming a crypto hub they forgot Singapore. It is now clear that China wants crypto but does not want the mainland getting involved. It is evident now that China is playing a game that shows how cunning these guys are and I am sure they will continue with the same attitude.

BTW! After Bitcoin reached a new high, I do not think any country can ignore the value of holding it. It is imperative for third-world countries or those considered emerging economies like China to come up with regulations within the mainland for sustainability in the current economic turm oil.

[BIT-BENDER]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

The acceptance of Bitcoin by the US doesn't necessarily mean that US economy would be boosted and also if China doesn't accept Bitcoin that doesn't mean their economy would plummet. Bitcoin was never the cheat code for countries to use in other to get economical boost over their rivals.
But the real winners here are the citizens. The citizens of a country that adopt Bitcoin would be able to enjoy all the advantages Crypto-currency has over traditional financial system.

[moneystery]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

different countries, different ways of responding to something related to their economy. in this case China is a communist country which is more protective of their financial and economic conditions, and they see that the presence of bitcoin will affect people's perspectives on transacting or investing in China, where the Chinese government does not want that to happen, so they take strict regulation of various activities related to cryptocurrency, with reasons of financial instability, money laundering, or energy consumption.

while America sees that bitcoin and cryptocurrency are something that cannot be stopped from developing, and instead of fighting it, they regulate it and develop it to improve the American economy, and even dream of making America the global cryptocurrency capital under the Trump administration.

the differences in the perspectives of America and China in responding to the development of bitcoin are indeed different, but these regulations are issued based on the economic and financial situation in the country, and it is possible that if China sees bitcoin as an opportunity they will open themselves up again to bitcoin and cryptocurrency.

[bestcandy]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

This is an interesting topic IMO, especially since Bitcoin is becoming increasingly influential. Some nations are even considering it as a strategic reserve. So, this type of discussion is very engaging for Bitcoin enthusiasts, as it combines politics, economics, and the growing role of cryptocurrencies on the global market.

China and US are already close rivals in all sectors both in technology and economy. Before china considered to banned Bitcoin I believe they are up to  something because China is one of the country that is working tirelessly to improve in all sectors both technology and economy.
If US succeed in making Bitcoin a strategy reserve before any country it will definitely have positive impact on US economy and eventually put US economy ahead of China economy and many country will fellow suit to making Bitcoin a strategy reserve which may likely make china to consider lifting ban on Bitcoin.

[Synchronice]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

This is an interesting topic IMO, especially since Bitcoin is becoming increasingly influential. Some nations are even considering it as a strategic reserve. So, this type of discussion is very engaging for Bitcoin enthusiasts, as it combines politics, economics, and the growing role of cryptocurrencies on the global market.

As far as I know, under Trump's presidency, policies on Bitcoin weren't generally positive but they weren't generally negative either. China banned crypto mining and trading in 2021. What I think about this is that the adoption of Bitcoin is a must for any country that wants to remain powerful and on top. I don't know why China does what it does but if the USA wants to have an edge over China, they definitely should adopt Bitcoin. I think that's what the US will do but the problem is that it's not good for us. As Trump said, he wants to mine the rest of the Bitcoins in the USA, which is bad for the decentralization.

Bitcoin as a strategic reserve will radically change many things. It's clear that this currency is becoming something more than what it actually is.

[Akbarkoe]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

This is an interesting topic IMO, especially since Bitcoin is becoming increasingly influential. Some nations are even considering it as a strategic reserve. So, this type of discussion is very engaging for Bitcoin enthusiasts, as it combines politics, economics, and the growing role of cryptocurrencies on the global market.

Competition in their trading market is increasingly strengthened and continues to have cold conflicts in the economic field, this is indeed very interesting if we linked it with bitcoin, where Trump is quite pro will be bitcoin and also the development of other blockchain while China still stands proudly forbids Bitcoin, but I too Seeing that not entirely prohibited in China there is a solemn place to be able to access Bitcoin in the country as its center.

I also think that China will compete again, only they might believe in the current conspiracy and focus more on the turnover of their money with the capital market, therefore if we see not a few Chinese miners and the Chinese themselves come out of China to be free to access Bitcoin.

[BlackHatCoiner]

China's GDP in 2024 was around $18.30 trillion, while US GDP was just over $29 trillion, while at the same time BTC market cap is around $1.88 trillion. If you understand basic math, then you should understand that no country will profit significantly even if they gain absolute dominance over BTC.

Here are some basic math: Bitcoin has an addressable market cap of more than $200 trillion. Currently, it is $1.88T, but I remind you that a couple of years ago, it was below $500 billion, and a couple of more years ago, it was below $500 million. Clearly, its growth resembles an exponential function, which will continue until it absorbs nearly everything that is treated as store of value, like metals, art and real estate; it's just not realized yet, because people are ignorant.

[Miles2006]

The simple truth we fail to understand is china doesn’t want bitcoin in any form, it’s either the current leaders are responsible for making decisions as such since we don’t know the mind of most citizens living in china probably they want bitcoin as an investment choice but due to the ban limited their hope. The US once had same thought and we all know the leaders implemented all this rule, Trump is positive about bitcoin no doubt more countries want to adopt bitcoin as a result of Trump influence besides bitcoin is always a good option for investment choice individually but, country as a whole if the economy status is not functioning bitcoin can’t carry the stress load.

[slapper]

Always US vs China, always. Money is merely one aspect. There are still other concerns: economic identity, tech advancement, and financial stability. The US's support for Bitcoin shows a new outlook, openness to decentralization, and desire to allow innovation develop without government interference. Meanwhile, China's restriction shows its desire for tight control, protecting structures and limiting disruption

How then does this affect common people? For some, fresh ideas, new employment, and cross-border transactions free from too strict gatekeepers will present opportunity. Volatile prices and government crackdowns may worry others. Man, emotions run strong when money is on the line. People get hopeful, fearful, ambitious, curious - all at once. It might be exciting how the US can integrate Bitcoin beyond speculation into real-world financial that appeal to average people

Can gov strike a balance between liberty and security? Decentralized finance can change the game, but they can't blindly follow hype. Those who are unsure about fast change need empathy; but, there is also drive for the inventors who view Bitcoin as a means of escape from outdated frameworks. That tension (between protection and development) defines exactly how the US might stand out, or lag, in regard to China

[hd49728]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

It's because these governments are very different in their stance of governance on their citizens. With USA government, they are more opened for freedom of citizens and have more intention to serve their people. With the China government, they are not opened for freedom of citizens and their main intention of governance is benefit of Xi and governmental people, not their citizens.

So China government have very little reasons to open the legal restrictive gate and give their people opportunities to access Bitcoin and cryptocurrencies freely and legally. They won't do it and if they open it partially, they will set up many traps to catch their citizens.

[davis196]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

This is an interesting topic IMO, especially since Bitcoin is becoming increasingly influential. Some nations are even considering it as a strategic reserve. So, this type of discussion is very engaging for Bitcoin enthusiasts, as it combines politics, economics, and the growing role of cryptocurrencies on the global market.

Are you talking about Trump's presidency back in 2017-2021? Trump was anti-crypto back then, but the Bitcoin price started growing by the end of 2020 and the first three months of 2021. This pump was caused mostly by Elon Musk and Tesla(if I remember this correctly).
China has always been negative towards crypto, even though many Chinese still hold lots of cryptocurrencies.
My prediction is that USA is going to be pro-crypto, while China will keep it's anti-crypto policies. I don't believe that Bitcoin/crypto is going to boost the US economy. Bitcoin/crypto is still just a bunch of speculative assets. You can't boost the economy by pumping the prices of speculative assets.

[fikrett]

It's because these governments are very different in their stance of governance on their citizens. With USA government, they are more opened for freedom of citizens and have more intention to serve their people. With the China government, they are not opened for freedom of citizens and their main intention of governance is benefit of Xi and governmental people, not their citizens.

So China government have very little reasons to open the legal restrictive gate and give their people opportunities to access Bitcoin and cryptocurrencies freely and legally. They won't do it and if they open it partially, they will set up many traps to catch their citizens.

I wouldn't call it all that fine and dandy in the US too - surely, the reserves will profit institutions and companies mostly, whereas the rest would go to those that are holding some BTC individually (the scale would be much different).
The reason being that China loves to control everything - they would rather push their CBDC currency than to do it with BTC.

[btc78]

Aren’t these countries already considered the closest rivals in terms of economy? Under Trump’s presidency, his policies on Bitcoin were generally positive, while China has maintained its stance on banning it. So what do you think? will the US’s adoption of Bitcoin help boost its economy and give it an edge over China, or could it have the opposite effect?

i can't see any reason why usa owning bitcoin would have an opposite effect and go against them bitcoin has proven itself to be a reliable asset and has given many individuals as well as entities profit over the years some people may doubt bitcoin due to its volatility and risk of crashing but i think usa is making the right decision here they will be ahead of china financially and technologically speaking these are advancements that could put usa on a more advantageous position over its enemies

[Swordsoffreedom]

My prediction is that USA is going to be pro-crypto, while China will keep it's anti-crypto policies.

Sooner or later China will have to lift the ban and change its policies to be more crypto-friendly because I believe that with the growth of crypto, they cannot stay out of the game forever. But they will judge its positive and negative effects on their economy, not based on what the United States is doing.

I don't believe that Bitcoin/crypto is going to boost the US economy. Bitcoin/crypto is still just a bunch of speculative assets. You can't boost the economy by pumping the prices of speculative assets.

As Lucius said above, an asset with a market cap of less than $2 trillion, highly speculative, pump and dump at any time. How can it significantly boost or impact an economy with a GDP of $29 trillion? People are really hyped and overhyped about Trump and Bitcoin. Trump is just a politician and Bitcoin is just a highly speculative asset, they are not God or the panacea of ​​this world.