secret opinion of Chinese government on Bitcoin

[coldguy]

@zhangjialong is a blogger and twitter in Chinese. He was a web editor of Tencent(qq.com), until 22nd May. On 23rd May, he was terminated the contract with Tencent because "leaking business secrets and other confidential and sensitive information". The real reason for this termination is because on Feb 15th 2014, he joined a meeting in Beijing with the U.S. Secretary of State John Kerry. During the meeting he had expressed what the Chinese propaganda department considered "radical" expression, and most importantly, he disclosed the Propaganda department's directives targeting news and incidents.

In one of these directives, it is about how the Chinese government's propaganda opinion on bitcoin related business.

“2014 Bitcoin International Summit” will be held on May 10-11 in Beijing. Websites may not participate or cover the summit, nor hype about bitcoin. In the future, any reports about bitcoin must keep in line with financial regulators. Please implement the requirement immediately.

Chinese government want to control everything, as you may know. Bitcoin now is among a series of dissenter's news, which is Chinese government's opinion on it.

[polunna]

This is not surprising! China's government clearly justifies its position in relation to the Bitcoins.

[dwma]

I always wonder if Bitcoin hadn't been such a Western invention and had came about in China, would they still have the same approach ?

[master-P]

I always wonder if Bitcoin hadn't been such a Western invention and had came about in China, would they still have the same approach ?

It may well be a western invention, but we'll never know for sure, unless satoshi is discovered. I think because of BTC's decentralized nature, it doesn't really matter where it all started, as it will spread to all the corners of the globe eventually.

[johnatan32]

This is not surprising! China's government clearly justifies its position in relation to the Bitcoins.

I strongly agree with you

[cbeast]

If China is correct in their assessments about Bitcoin, then Western nations will likely follow suit.

[Ron~Popeil]

I always wonder if Bitcoin hadn't been such a Western invention and had came about in China, would they still have the same approach ?

Bit coin takes power from governments so I would think yes they would. Tyrants never go away quietly.

[Harley997]

It is very interesting to trust anything that comes out of the Chinese media.

The Media is government controlled and will spin things when a free speech advocate is arrested.

IMO it is very unlikely he was actually leaking secrets.

[keithers]

The Chinese Gov't has been buying up holdings in BTC for a long time now.   They will ease up on some of the regulations once they feel that they have a large enough holding to give them the sense of control.

[jbrnt]

“2014 Bitcoin International Summit” will be held on May 10-11 in Beijing. Websites may not participate or cover the summit, nor hype about bitcoin. In the future, any reports about bitcoin must keep in line with financial regulators. Please implement the requirement immediately.

This may sounded like a government secret, but it is totally expected. China wants to control the media and stop foreign journalist covering stories on their corruption. Just look at the great firewall of china, what more can you say?

[ShakyhandsBTCer]

The Chinese Gov't has been buying up holdings in BTC for a long time now.   They will ease up on some of the regulations once they feel that they have a large enough holding to give them the sense of control.

This is probably not true.

The chinese government likes to keep control of their currency (that restrict the price their fiat currency trades at in dollars and have restrictive capital controls). Bitcoin would not give them this level of control.

[beetcoin]

The Chinese Gov't has been buying up holdings in BTC for a long time now.   They will ease up on some of the regulations once they feel that they have a large enough holding to give them the sense of control.

This is probably not true.

The chinese government likes to keep control of their currency (that restrict the price their fiat currency trades at in dollars and have restrictive capital controls). Bitcoin would not give them this level of control.

and more specifically, they don't want chinese citizens to move their money out of the country, as they consider this as something that will hurt their economy.

i think the state wants to control everything so badly that it won't accept bitcoin.. because bitcoin makes controlling shit a lot harder.

[BitcoinLlama]

I have heard other Chinese investors say things are more mellow there than some think, but yeah media can't comment on it unless it's direct from the authority.

[beetcoin]

isn't it funny that the U.S. is run by billionaires and corporations, while china is run by its totalitarian government? completely different approaches.

[ShakyhandsBTCer]

The Chinese Gov't has been buying up holdings in BTC for a long time now.   They will ease up on some of the regulations once they feel that they have a large enough holding to give them the sense of control.

This is probably not true.

The chinese government likes to keep control of their currency (that restrict the price their fiat currency trades at in dollars and have restrictive capital controls). Bitcoin would not give them this level of control.

and more specifically, they don't want chinese citizens to move their money out of the country, as they consider this as something that will hurt their economy.

i think the state wants to control everything so badly that it won't accept bitcoin.. because bitcoin makes controlling shit a lot harder.

Controlling bitcoin makes capital controls impossible.

The Chinese do have a lot of control over a lot of things, more then what is probably best.

[Harley997]

isn't it funny that the U.S. is run by billionaires and corporations, while china is run by its totalitarian government? completely different approaches.

The Chinese feed their people misinformation and fear. Just like they do in this article.

[Wardrick]

isn't it funny that the U.S. is run by billionaires and corporations, while china is run by its totalitarian government? completely different approaches.

The Chinese feed their people misinformation and fear. Just like they do in this article.

China has huge ghost towns built just to increase their economy. They have replicas of cities like Paris and other famous places that nobody lives in.

[greyhawk]

isn't it funny that the U.S. is run by billionaires and corporations, while china is run by its totalitarian government? completely different approaches.

The Chinese feed their people misinformation and fear. Just like they do in this article.

China has huge ghost towns built just to increase their economy. They have replicas of cities like Paris and other famous places that nobody lives in.

How strange. They also exist in my head too whenever I go to sleep.

Truespeak: The main reason why the Tianducheng tourist resort (aka Chinese Ghost Paris) does not contain visitors is that it is not finished yet.

[sgk]

@zhangjialong is a blogger and twitter in Chinese. He was a web editor of Tencent(qq.com), until 22nd May. On 23rd May, he was terminated the contract with Tencent because "leaking business secrets and other confidential and sensitive information". The real reason for this termination is because on Feb 15th 2014, he joined a meeting in Beijing with the U.S. Secretary of State John Kerry. During the meeting he had expressed what the Chinese propaganda department considered "radical" expression, and most importantly, he disclosed the Propaganda department's directives targeting news and incidents.

In one of these directives, it is about how the Chinese government's propaganda opinion on bitcoin related business.

“2014 Bitcoin International Summit” will be held on May 10-11 in Beijing. Websites may not participate or cover the summit, nor hype about bitcoin. In the future, any reports about bitcoin must keep in line with financial regulators. Please implement the requirement immediately.

Chinese government want to control everything, as you may know. Bitcoin now is among a series of dissenter's news, which is Chinese government's opinion on it.

While all of what you've said is true, where is the 'secret' part? Whatever you said is 'open' opinion of Chinese government.

[Wardrick]

isn't it funny that the U.S. is run by billionaires and corporations, while china is run by its totalitarian government? completely different approaches.

The Chinese feed their people misinformation and fear. Just like they do in this article.

China has huge ghost towns built just to increase their economy. They have replicas of cities like Paris and other famous places that nobody lives in.

How strange. They also exist in my head too whenever I go to sleep.

Truespeak: The main reason why the Tianducheng tourist resort (aka Chinese Ghost Paris) does not contain visitors is that it is not finished yet.

They have towns that can hold hundreds of thousands of people but only about 30,000 people live in them, or they're just empty. It was a documentary in vice, it was pretty weird.