Quote from: BeefUsher on June 30, 2016, 11:32:15 AM

Quote from: crazywack on June 30, 2016, 11:18:11 AM

Quote from: BeefUsher on June 30, 2016, 11:14:15 AM

Quote from: crazywack on June 30, 2016, 06:31:06 AM

Quote from: Karartma1 on June 30, 2016, 06:26:09 AM

Quote from: crazywack on June 30, 2016, 06:22:36 AM

Maybe part of the reason they are devaluing their currency in an attempt to put a greater weight onto Bitcoin as a national barter system.

I would believe almost anything but that! They should be clever enough to know that bitcoin can not be controlled so why giving chinese a "legal" way to transform ther CNY into BTC?

Because their citizens who they have a fairly tight grip on have a majority stake in hash and most likely wallet/coins.

Giving their citizens the right to legally bypass currency controls is how you lose that "fairly tight grip" on said citizens.

Like KYC in the good ol USA?

Despite the pseudo anon of Bitcoin it's pretty easy to tell who is who once a BTC to USD is made.

You're living up to your name, crazywack.
1. KYC in the good ol' USA doesn't make it easier to bypass capital controls & move money out of the country.
2. US citizens aren't actively trying to turn their USD into CNY, so there's no issue.
3. "it's pretty easy to tell who is who once a BTC to USD is made" if you are stupid and do it wrong. If you do it right, it's damn near impossible.

I swear Roll Eyes

1. Are Chinese citezens moving money out of China as a hedge OR to transfer money to family? Yes laws are already in place to prevent money transfer.
2. See above
3. You may be able to hide but can the average internet user do it?

I swear Roll Eyes