Quote from: CyberKuro on March 08, 2017, 06:04:49 AM

Quote from: debtstack on February 13, 2017, 09:46:44 PM

Now I know China has been accused of keeping the price of their fiat down, so this leads me to a question.

Keeping their fiat (CNY) down? Where did you read about this?

This has been practiced by the PBoC as well as many other central banks for years

In fact, it is a wise economic policy for any export oriented country and China is likely the No. 1 such country (an exporter which manufactures goods for half the world). I understand that this is a bit counterintuitive but it is really so. The caveat is that it is beneficial as long as inflation inside such a country is kept bridled, i.e. the question is not about devaluing a national currency altogether since in the latter case it will just stop being money. Lower exchange rates help the exporters by making their goods more price competitive in the international markets, so the overall effect for the country is positive and beneficial

Quote from: CyberKuro on March 08, 2017, 06:04:49 AM

Quote from: debtstack on February 13, 2017, 09:46:44 PM

Why would china want to keep the price of btc at or below 1000? And I'm not asking for answers around curbing the use of it, because I don't believe they want that. I'm asking for genuine thoughts on how it would benefit china to keep the price low. What long term strategy would they have? Because we all know china doesn't just do things because they want to. They've probably had meeting after meeting on how best to optimize bitcoin for their benefit.

Are they ever state to keep bitcoin price below $1000? Because I don't think China will do that, not them (govs) but their citizens/bitcoiners/miners which sell out their bitcoin at higher price to get profits I guess. If China government wants to invest on bitcoin, they might be want to buy it at cheaper price and waiting for years to get decent profits.

This point can hardly be argued against