China will be the first country to crack down on Bitcoin.
It's trivial for them to block Bitcoin communications over their network, they have the most advanced proxy filtering systems in the world.
It's trivial for them to block Bitcoin communications over their network, they have the most advanced proxy filtering systems in the world.
Maybe... But if the government were against it, why would they let it go on CCTV then?
that's the million bitcoin question
fyi, started out promising, but thus far my experience on btcchina has NOT been fun. WTF
is that how it works? as soon as people start to care and show you love, you fold under the pressure?
(will try again tomorrow)
Whether China plans to crack down on BTC or not is irrelevant. Once the wealthy elite of China take positions in BTC the pressure on the Chinese government will be overwhelming. They wouldn't dare transgress the gentry, these are the people that really run countries.
Of course this assumes that Chinese investors will go long on bitcoin. I don't see any reason why Chinese investment should not mirror what we've already seen; a mix of both (though with a significant weight to a long bull play in my estimation). However, as bitcoin begins to become more institutionalized anyone on the fence should commit to a long-haul.
Furthermore, why should China crack-down on BTC? If BTC skyrockets China only stands to gain from getting in early, and more importantly, before America. I see China's view on bitcoin as cautiously optimistic right now. If things continue to go well for bitcoin in the coming months we should see some real movement as the Chinese calculus changes.